Discussion · Private Members' Business
Brad Vis Conservative
“Old age security already goes to people who make over $150,000. This program will cost over $100 billion in five years. Our children cannot afford to pay for this.”
“Mr. Speaker, right now in Canada, clawbacks for old age security commence at $95,000, but individuals aged 65 to 74 earning up to $152,000 and those over 75 earning up to $157,000 can still receive old age security. While I understand the intent of the legislation before us today and what the member is referring to, does she not understand that the costs for old age security would exceed $100 billion within the next five years? How are my children going to pay for this monumental expense?”
Official Hansard
Mr. Speaker, right now in Canada, clawbacks for old age security commence at $95,000, but individuals aged 65 to 74 earning up to $152,000 and those over 75 earning up to $157,000 can still receive old age security. While I understand the intent of the legislation before us today and what the member is referring to, does she not understand that the costs for old age security would exceed $100 billion within the next five years? How are my children going to pay for this monumental expense?