Book description
The vast majority of Canadians are blissfully unaware that every man,
woman and child in Canada now owes a ,000 share of government debt and
must pay this back, with interest! Make no mistake, this debt will
change our country and affect every single Canadian in the decades to
come. You may think you have planned for your retirement and are safe,
but the government must find a way to recover this borrowed money, and
they can only do that by raising your taxes and reducing your
hard-earned benefits. How did this debt come about, and why can't we
simply pay it off?
Pension Ponzi lays the blame squarely at the feet of the
politicians who refused to stand up to Canada's public sector unions.
The fact is Canada's public sector, which accounts for 20% of the
workforce, has been grossly overpaid relative to their counterparts in
the private sector with cushy pensions paid for with your taxes and
new debt. There is no denying that the country does not have the
financial resources to ensure that the next generation of Canadians
will have the same standard of living as the ones before it-or to
support our growing seniors population. Meeting our public sector
pension obligations will break the current social safety net that is a
pillar of the Canadian way.
Can you escape this bleak future? Can you afford to live longer?
Nationally-recognized pension expert Bill Tufts and award-winning
journalist Lee Fairbanks explore how this catastrophe came about and
then suggest ways that government can fix what's broken, and how you
as an individual can protect yourself from the financial calamity that
is about to engulf Canada.
Bill Tufts has been helping companies with their employee pension
plans for 15 years and is one of Canada's leading experts on public
sector pension reform. He speaks regularly on pension matters and has
consulted for the Canadian Federation of Independent Business and the
Canadian Taxpayers Federation. He was a participant of the Ontario
Government Round Table on Retirement Security and testified at the
House of Commons Standing Committee on Human Resources. Bill is
regularly interviewed by the Globe and Mail, CBC, Toronto Star,
Hamilton Spectator, Montreal Gazette and the Wall Street Journal.
Lee Fairbanks began his writing career with the Globe and Mail, first
achieving notoriety by exposing the source of the bullets that killed
Canadian peacekeepers in Cyprus in 1974. In 1980 he received the
Walter Brebner Award for Best Editorial in Ontario as Editor of the
Milton Tribune, for an editorial about ethics in journalism. He is an
award-winning playwright and the author of seven plays and Keep Canada
Slim, a book on healthy weight loss.
