http://www.canada.com/victoriatimescolonist/news/comment/story.html?id=ff39a14d-2241-4507-93be-22a344e232a3
A $500 tax credit for organised fitness? This is annoying. I hate bad legislation. It leaves big gaping holes such as why people in construction don't get a tax break automatically since they're undeniably significantly more active than the typical office dweller. Then there's people who walk/cycle/some other physically active mode of transportation to work. Further more, I don't think they'll let people deduct things like my zoo pass, obviously I'm physically propelling myself around the zoo myself when I go. My camera has also been a great tool for keeping active, I go places to take pictures. Something that doesn't apply to me though, dog expenses need to be in there too since they have to be walked regularly. Cats shouldn't qualify.
Besides the scope, the amount also annoys me. It's worth about $50. That's a small amount. Personally, I don't feel that will really be worth the overhead. The government doesn't need to give everyone a pat on the head for doing things that they should be doing anyway. Nobody seems to suggest that there should be a symbolic pat on the head for people who can cook for themselves, switch to winter tires when it snows, brush their teeth regularly, or be able to name all the provinces, territories and their respective capitals. Surely all those things add a lot of value to our society as well.
If anything deserves a tax break, lets give a tax break for people who keep a reasonable amount of money in readily accessible cash/cash equivalents. It'll reduce the usage and thus cost of our social service net significantly. Furthermore, I expect that the number of people overburdened with debt will go down and there'll be a reduction in bankruptcies. It's also a good smart thing to do. Of course I know there'll be down sides and the down side to this is that a certain portion of the population will stop trying to calculate what should be an appropriate emergency fund for themselves. Just as there's people now who assume that they don't need one because there's social services and people who assume that simply having a home is enough for retirement or contribute only up to the employer matched portion to their rrsp and don't even know what their money is invested in.
Sunday, November 30, 2008
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