Personal Finance

Do you get depressed when you see all the deductions on your paystub?

  • Last Updated:
  • Apr 28th, 2017 10:34 pm
Jr. Member
Apr 5, 2017
186 posts
18 upvotes
kanewtz wrote:
Apr 12th, 2017 6:02 pm
I do not get discouraged.

On the bright side, my pay this week will be my last payments for EI and CPP...already at the max!
such a well-paid job!
Member
Sep 28, 2010
254 posts
22 upvotes
Surrey
ChrisVanOrange wrote:
Apr 6th, 2017 7:55 pm
Yes, especially the union fee. Our union do jack squad, their lawyer on retainers fee does jack squad, and anytime any one who needs them their reps are "on vacation and will be back in 6 weeks", never answer their email or phone.

Completely corrupted and useless
Thats hard to believe, what union do you belong to? When we have a rep who is on vacation, their is ALWAYS more than 1 replacement. We don't even have a lawyer, but use a lawyer when we need one.
Sr. Member
Jan 27, 2015
813 posts
270 upvotes
Edmonton, AB
amitdi wrote:
Apr 17th, 2017 2:39 pm
Income taxes, property taxes, GST/HST go towards the things you mentioned - protect its citizens, control the borders, provide health care, schooling, parks, etc.
If the government ONLY did that, then we'd have no problem. Do you know how much $$$ they spend on doing things other than the ones listed above?
Sr. Member
Jan 27, 2015
813 posts
270 upvotes
Edmonton, AB
Taikonaut wrote:
Apr 17th, 2017 3:12 pm
It's easy to take these services for granted.
Who wants security, health and education? Everyone.
Who wants to pay for these services? Not many.

These services are also heavily regulated, can you imagine them being made "small government"?
You want to hire mercenaries to protect your property? What can go wrong?
You have a nursing degree from an obscure online school with no experience? You're hired.
You want to work at a school even though you're a known child sex offender? No problem.
You want to setup a drilling rig next to the city's water reservoir? Who needs water anyways.

Be grateful for what you got - we have it great here in Canada.
You nailed it.

Not many people want to pay for the services. We're getting more and more in debt, with no sign of getting to balanced budget let alone paying the debt off.

Which means, future generations will be saddled with this (more taxes, higher GST, etc.).
Newbie
Apr 18, 2017
2 posts
1 upvote
Depressed is quite a strong word, but yes the joy of pay goes down once looking at taxes, but still happy for whatever I get lol.
Union fees however I'm not fond of since for me personally my union hasn't really benefited me. For others, it may be a different story.
Sr. Member
User avatar
Sep 19, 2013
540 posts
122 upvotes
Winnipeg
FinancialFreedom wrote:
Apr 19th, 2017 3:59 pm
If the government ONLY did that, then we'd have no problem. Do you know how much $$$ they spend on doing things other than the ones listed above?
thats how all govts work. read post # 54
Deal Fanatic
User avatar
Aug 8, 2012
7879 posts
2748 upvotes
BC
FinancialFreedom wrote:
Apr 17th, 2017 2:01 pm
I guess you and I have vastly differing experiences which have changed how we perceive things.

To me it's fairly common sense: big governments can ONLY function when they tax more money. This means that the average citizen has less money, which means less choices.

Big government = more regulation. This means that the average citizen has less choices.

These are facts. You don't have to believe them. :)

To get to your point, when did I say that we don't need government? Ofcourse we need laws. I'd rather the government protect its citizens, control the borders, provide health care, schooling, parks, etc. But when the government starts dealing with how you should lead your life, that's where i draw the line.
Did you watch the video that explains what a fact is?

You have several leaps here, any single one of which is disputable, thus not a fact.
To me it's fairly common sense: big governments can ONLY function when they tax more money. This means that the average citizen has less money, which means less choices
To me it's fairly common sense
a) "common sense" to you does not equal "facts"
big governments can ONLY function when they tax more money
b) That's a leap. You have no evidence of this. You are assuming this and it's not a fact you can prove or disprove
This means that the average citizen has less money
c) That's another leap. Who is "the average citizen"? You *can* tax more without taxing "the the average citizen" more.
which means less choices
d) This is yet another leap. Somehow you have less choice if you pay more tax? In what way?

Again, please look up the definition of "opinion" and "fact". Not Trump style #alternativeFacts, *real* facts. Facts are things that are indisputable. I just disputed all your points.
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Sr. Member
User avatar
Sep 19, 2013
540 posts
122 upvotes
Winnipeg
statlan wrote:
Apr 19th, 2017 4:37 pm
Depressed is quite a strong word, but yes the joy of pay goes down once looking at taxes, but still happy for whatever I get lol.
Union fees however I'm not fond of since for me personally my union hasn't really benefited me. For others, it may be a different story.
Welcome to RFD. yeah me too, didnt like the union fees. except cpl of years back, company had to reduce staff and they *had to* get rid of all the contractors before touching an employee. so kind of in a way, union gives some stability. but depends on the situation, sometimes even unions can do anything.
Deal Addict
Sep 23, 2007
4135 posts
650 upvotes
fogetmylogin wrote:
Apr 13th, 2017 4:50 pm
All these taxes are avoidable especially your last "tax" Let me guess you are single? (hard to see why) Get married (to someone that works) and you won't have to pay for any more dinners.
Oh hahaha. It will get worse after I am married. My GF's money making ability is very limited. She wants to have kids and stop working completely to be a stay at home mom.

We live together. She cooks sometimes but we still eat out often.
Sr. Member
Jul 30, 2005
512 posts
61 upvotes
Scarborough
BananaHunter wrote:
Apr 21st, 2017 6:10 pm
Oh hahaha. It will get worse after I am married. My GF's money making ability is very limited. She wants to have kids and stop working completely to be a stay at home mom.

We live together. She cooks sometimes but we still eat out often.
She's a mortgage yo, are you sure you want to marry.
Newbie
Apr 27, 2017
2 posts
1 upvote
unknownone wrote:
Apr 8th, 2017 6:18 pm

Same deal for CPP. Get rid of CPP and give me the extra cash on my pay check (make sure I get the employer portion too). Put that 'CPP' money into my own account called 'CPP' and when I retire, draw from my 'CPP' account every month, because I'd rather do that, manage it myself, than let the government mismanage it. I know I'd be better off. And I do understand the risks involved.. I'm fine with that.
Wow, there is so much wrong with this statement, but i'll focus on one key thing most people don't realize. CPP is one of the most efficiently managed investment funds ON THE PLANET. It's management fees are almost non-existent and its returns regularly beat the market. So even if you had the choice of opt-ing out and investing on your own, chances are high you would be less better off and have less money come retirement than the folks who chose to stick with CPP.

Also, while I don't expect self centred folks to care about history, I'll still point out that poverty rates plummeted across the board once programs like CPP and EI came into being. Less stress on social services means more money for other things and a better society to live in where people buy things and create jobs and wealth for EVERYONE.
Jr. Member
User avatar
Oct 19, 2016
165 posts
44 upvotes
Toronto
If she is a good house wife(takes care of kids, cleans, cooks), then all good I say... Otherwise she better be ready to get a full time job.
Kestral wrote:
Apr 22nd, 2017 10:13 pm
She's a mortgage yo, are you sure you want to marry.
Jr. Member
User avatar
Oct 19, 2016
165 posts
44 upvotes
Toronto
CPP most efficiently managed investment fund ?? They said similar things for Bernie Maddoff... The best.. good returns..consistent..beats the market...

I do agree with you on the other parts, CPP is probably good for the masses.. But I wish there would be an option to Opt out of CPP.
AlbinoPigeon604 wrote:
Apr 28th, 2017 4:17 pm
Wow, there is so much wrong with this statement, but i'll focus on one key thing most people don't realize. CPP is one of the most efficiently managed investment funds ON THE PLANET. It's management fees are almost non-existent and its returns regularly beat the market. So even if you had the choice of opt-ing out and investing on your own, chances are high you would be less better off and have less money come retirement than the folks who chose to stick with CPP.

Also, while I don't expect self centred folks to care about history, I'll still point out that poverty rates plummeted across the board once programs like CPP and EI came into being. Less stress on social services means more money for other things and a better society to live in where people buy things and create jobs and wealth for EVERYONE.
Sr. Member
User avatar
Mar 31, 2009
934 posts
323 upvotes
AlbinoPigeon604 wrote:
Apr 28th, 2017 4:17 pm
CPP is one of the most efficiently managed investment funds ON THE PLANET
I'm pretty certain that if you run the numbers on what you actually contribute to CPP, including the employer portion being contributed on your behalf, and compare it to what you're expected to get from it, the return ends up being below average. I've read multiple times that it works out to approximately 4% return. So it beats bank interest, except there is some risk to CPP (ie. by the time you go to collect, it could be so underfunded that what you collect won't even be what you'd expect) etc.

If you could opt out and be given the employee and employer portion in your pocket, and just invest that in an ETF that follows the market, never sell, just hold, re-invest any dividends, you'd end up being able to draw more from the account when you retire than you'd otherwise get from CPP. Plus, having it in your own account would give you the flexibility of drawing from it as required, instead of only at a specific age.

The only reason that CPP would decrease poverty is because it is forced savings for people who otherwise don't and won't save. And it's not for people who 'can't afford to save' because the people who are contributing to CPP *are* saving, except they're saving in the form of a bad investment, with bad returns, and some horrible limitations and stipulations.

The government plays the middle man, gives us a forced bad form of savings, and pads their own pockets for managing it.

I'd rather cut them out as the middle man and pad my own pockets instead. And everyone would be better off in doing so.
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