I don't recall mentioning an inheritance tax...but I think your article proves the point about how much the government will take upon your death if certain investments go to anyone other than your spouse. The % taken by the government when its taxed at the time of your death is staggering. In a progressive tax system the more you make and earn, the more the tax man taketh... Anyone with any semblence of a retirement fund invested should best know what will happen to it before the remainder goes to a child...and perhaps act accordingly if you get my drift.peppercorn wrote:You two arnt making sense to me....what inheritance tax? Canada doesn't have a inheritance tax that I know of. A Province might as I don't know each provinces policies. I thought I heard Ontario might have a very small one but it would be the exception in Canada if it does. Estates are wrapped up upon death just as if the person was alive and had sold their assets, capital gains are paid on assets, yes but that is not a inheritance tax, just the normal tax on a form of profit. If I am wrong please find something to point to and I will read it.
Insurance, really? for medically necessary things? First good on you for being able to afford extra private insurance, I have no problem with that and if your situation allows for that great! that is not the case for everyone, not for most people and should not be needed in any developed society, You hit the nail right on the head when you say that insurance companies can make you redo health checks if you miss a payment, they can dramatically up your rates, they can deny you coverage if they declare a condition pre existing, or even find a error or omission you made, They can cap your benefits, dictate drug coverage, or even at their discretion dictate what doctors or hospital you may use.
The land of Private insurance for medical care is just down south. No other developed nation still operates that way. That nation flat lined in life expectancy a decade ago, while other nations including our own advanced, we live on average 3 years longer than a American. For 2015 and 2016 US life expectancy declined, that's unheard of in the developed world, data is not in for 2017 yet but I bet it will be the same.
I am just saying if you can afford extra coverage great, but a better long term strategy for everyone is to advocate for better health care coverage, and more inclusive coverage at that, like some basic dental.
I encourage anyone to click on Peppercorns article above and read it carefully. Definite food for thought.
https://www.theglobeandmail.com/globe-i ... le4171500/
As for the comments on insurance and America...that can be left for another politics thread. Correlating single variables in such a complex issue is daring......but not for this thread. Don't get me started on making others pay for poor people's insurance in a "developed" country.