Greys Pay Taxes Too

Friday October 1st, today,  is International Day of Older Persons.

http://www.un.org/ageing/whatsnew%20PDF/new%20flyer%20friday%201st%20October%202010.pdf


We often read that the senior generation of Canadians will become a drain on the Health Care System. The increasing demographic of seniors in Cranbrook was even mentioned at a recent Council Meeting with reference to The Growth Management Study. From the general comments contained within the Administration Update of September 13th comes, "A rapidly aging population raises numerous challenges from the perspective of providing the right mix of services, the costs of services and tax base considerations.  There is an inevitable end to this aging trend unless new employment opportunities are encouraged to attract and retain young families."

Moses Znaimer, states in a recent article that “In the year 2009 Canadians 45 years and older numbered approximately 14 million or about 425 of the Canadian population. These millions of Canadians made up 53% of all tax filers. What’s often overlooked in discussions of the senior burden is the fact that most retirees and pensioners continue to pay tax. And this comes after working lifetimes already spent investing a considerable portion of their own earnings into RRSPs and supplemental pension plans. By the year 2031 it’s projected that there will be about 19 million Canadians aged 45 and older or 49% of the total projected population of 39 million. By extrapolation this most senior demographic will comprise 63% of all Canadian tax filers.” He goes on to say that unless seniors receive tax refunds they will be paying the lion’s share of government expenditures in 2031.

Znaimer furthers his exploration of society’s dependency on grey power by thwarting some of the misconceptions about seniors consuming a disproportional amount of health care. “While it is true that health care cost is heavier for seniors it appears to be far smaller than predictions would have us believe.” He goes on to quote statistics for doctor visits and these back up his statements. An interesting statistic quoted is that where approximately 8% of Canadians between the ages of 25 and 44 will see a health care professional about mental health issues only 2.4% of people aged 65 years and older will.

In Znaimers closing statement he says “So spread the word when it comes to health and wellness, we’re not just part of the problem, we’re actually part of the solution. We might even be worth more to the world alive than dead.”

This most interesting article can be read in full at:

http://www.50plus.com/Health/BrowseAllArticles/index.cfm?documentID=23519