Viikkosanomat, August 23, 1982

              i Wft- - "A) MK '{ Vrt' A V vh y U %Hi V"' J'M
i J I XI
V A SENIOR CITIZENS POINT OF VIEW
By E Hölwell
Just one week ago I had the vemments to pfövide the kind of
pleasure and the priviledge of pensions income so necessary
attending the 24th Annual
Convention of the United Se-nior
Citizens of Ontario
The Laurentian University
of Sudbury provided the setting
and the excellent facilities for
almost 650 delegates and vi--
sitors from ali over Ontario
Highlighting the three days of
activities were — plentyofgood
food plus some first class
entertainment Consequently
an atmosphere of good will
friendliness and well being pre-vaile- d
throughout the Convent-ion
Unfortunately the business
portion of this august gathering
left much to be desired For
example there was a total of
136 resolutions submitted well
in advance froinjahristof clubs
and groups — 'affrliates of the
USCO
Resolutions which dealt with
the many problems seniors have
had to face over a long period of
time — inadequate housing and
high rents lack of sufficient
health care medical supplies
and drugs and of course the
largest group of resolutions
centred around the failure of go--
Covernment and
In this context I shall deal
only with the Ontario scene
We are living under a system
which is generally touted and
recognized as A Free Society
This term simply means 'the
unfettered freedom of private
enterprise forces to exploit the
wealth of our nation for their
own private gain'
Governments and parti-cular- ly
the Ontario Gover-nment
demonstrate this point
of view very forcefully For
They are:—
1402
represents 743% of the total
Corporations have been
crying the blues for
considerable time Despite
massi ve layofFs of workers it
seems they expect a
level of profits try to
convince that
are suffering huge LOSSES In
actual their profits are
AUNIITA
UK&1A
UKKAKIMPPUJA
UKKALAITTEITA
kukkakalenterinne
FLOVVER SERVICE
673-959- 1
252 Regent St S
Hazel kadun kulm
22 Durham N
SUDBURY
12
xX V
to maintain dignity and comfort
during our declining years To
quote from a brief of mine of a
few years ago
'because of our advanced years
we have becorfte redundant we
are no longer considered as
beneficially productive to the
corporate and business sectors
of our society We do have to
remindourselves however that
we are the parents and the
grandparents of the present
work force — section of
society which has taken over
from us the task of continuing
by their labours the necessary
function of further developing
the of our nation In
other words we are the people
who have supplied the corpo--
rate and business World with a
new young labour force to
replace us the depleted stock'
From this point of view
therefore we are still a very
important part of our society —
our reward be just as
adequate as of ali the worn
out politicians who have been
elebated to the Senate as their
rewardjföklpir contribution to
the Corporate and business
commiinity oFCanada
Deficit Financing
example the 198283 Budget
Statement lists the various in- -
come sources and the estimated
revenue from each
DiscoiinHno transfpr ™v--
ments from the Federal Go-vernment
the total estimated
income from ali sources of
taxation is well over $16
billion
Of this total I list five items
of direct taxation which applies
basically to public at large
revenue of over $16 billion
somewhat lower because their
volume of business is down
Therefore governments help
them to maintain a suitable
margin As a result
Corporation Tax is reduced to
oniy $995 miiHon
Just 65% of the total re-venue
listed above
The result of this deliberate
concession to the Corporate
sector a side from transferring
substantial extra taxation
Personal Income Tax $ 5584 million
Retail Sales Tax 3677 "
Health Insurance Pian "
Tobacco Tax (so-calle- d luxury tax) 428
Gasoline Tax 931
The grand total is therefore over $ 1 2 billion
This
some
that high
They
the public they
fact
Poiketkaa hakemassa
Puhelin
St
that
wealth
should
that
the
profit
eise--
Ontario
billion
How then does the go-vernment
of Ontario cover this
massive shortfall in revenue?
£ 5 Tohtori
Eric Harela kiropraktikko
331 Sheppard Ave E Willowdale
Puhelin 224-044- 4
Maanant klo 9-- 12 ja 2-- 6
Tiist klo 7-- 9 illalla
Keskiv 9-- 1 2 ja 2-- 9
Torst klo 7-- 9 illalla
Perj klo 9-- 12 ja 3-- 6
Lauant sopimuksen mukaan
The Canada
Each year since 1966
compulsary contributions have
been paid into the Plan's fund
and has constituted the main
revenue source These con-tributions
have been and
continue to be deducted from
the pay packets of the entire
work force The benefits paid
out from this ftmd since 1967
have been minimal with the
result that a substantial surplus
has accumulated each and
every year hence the fund grew
quickly
Under the terms of the
Federal Legislation drafted
with Provincial input the
surplus funds are made avai-labl- e
to the Provinces in pro-portion
to contributions receiv-e- d
The Provinces are suppos-e- d
to pay interest on their
borrowings based on the current
yield on outstanding Gover-nment
of Canada bonds A
table of figures which have been
released to me indicate that
during 1981 such interest rates
averaged between 15% and
17% on a monthly basis From
information contained in the
Ontario Budget it is obvious
that the government is not living
up to such a commitment
Since 1978 the Province of
Ontario has taken full ad-vantage
of this Pension Pian a
Pian which obviously was de-sign- ed
not as a Pension Pian in
the interests of the retiring
THE FUTURE
OF THE CANADA
From the Economic Council
of Canada we find the following
gem 'Even though benefit pay-men- ts
would likely exceed
contributions within a decade
IF CURRENT CONT-RIBUTIONS
ARE CONTI-NUE- D
AT THE PRESENT
RATE the fund itself would go
negative shortly after the turn of
the century
Thus it is suggested that a
switch to PAY-AS-YOU--
GO
financing in another ten years or
so to avoid having the fund go
nagative and WITHOUT
of
where it created an imbalance Obviously the numerous
of over income — resolutions adopted at the con-o- r
a deficit of almost $25 vention will receive little or no
attention unless we puli up our
socks and begin to develop and
apply pressure upon govern
An dxample of Early American furniture is a plug-i- n radio
American is furniture that become antique before it's paid for
Pension Pian
work force — as they reach 65
years — but to establish a fund
from which governments can
borrow ready cash to be used —
and I quote from the Toronto
Star of August 14thwhich indi-cat- es
how this ready cash is
used 'The slumping oil sector
will enjoy better times in the
next few months as government
grants and tax breaks Mimmi ja Uuno Harjun paikal-industry- 's
cash flows and pro- - le
fits' And on August 12th -
quote 'There in black and
white is the news that $528
million in petroleum industry
dividends left the country last
year' to American head offlces
During each and every year
since 1 978 the Ontario Govern-ment
has operated on Deficit
Financing taking full advantage
of Pension funds to the tune of
over $10 billion from the
Canada Pension Pian up to and
including this year
It should be obvious that
OUR PENSION PLAN
FUNDS are being used to
cover the substantial short fall
from the failure of the Ontario
Government to apply full tax-ation
to the Corporate sector
Let us not forget that a billion or
two dollars pumped into the
economy through our Ontario
Pensioners would be a real
shot in the arm to Ontario's
Retail Sales which in turn
would help to create many
much needed jobs
FINANCING
PENSION PLAN
THE PROVINCES EVEN
REPAYING THE BORRO-WING- S
FROM THE
FUND' and
From the 198283 Budget
Statement 'Debt refinancing
associated with the pension
pian from which the Province
borrows non-publ- ic funds re-financing
of maturing debt can
be managed without significant
financial strain Based on 20
year debentures on an annual
basis it will be the mid-1990- 's
before refinancing accurs'
ments and politicians
During the last week of July
the Federal Parliament gave
third reading to a 'Freedom of
Information' Bill or The
Public's Right To Know I
submit that it is every bit as
important for Senior Citizens to
know the facts concerning gov-ernment
policies that effect
their standard of life
The Annual Convention USCO
expenditures
Kirjeenvaintoon
haluaa 21-vuot- ias mieshenkilö
Ghanasta Länsi-Afrikas- ta
Osoite:
Mr Emmanuel Archison
PO Box 437
Obuasi-Adan- si
West Afrika Ghana
improve
24th
ERILAISET
TILAISUUDET
TORONTO
Ikinuortenkerhon tanhu- - ja
voimistelujoukkueet kokoontu-vat
haalilla torstaiaamuna elok
26 päivä kello 1030 keskus-telemaan
syyskauden toimin-nasta
Kerhon kuorolaisten ensim-mäiset
harjoitukset pidetään
torstaina syysk 2 päivä
Seuraava kerholaisten viih-demat-ka
on St Catharinaan
tiistaina syyskuun 14 päivä
CANADA NL-SEUR- A jär-jestää
filmitilaisuuksia perjan-taisin
seuran huoneustossa 280
Queen St W Toronto alk klo
730 illalla
Elokuvat ovat joko englan-ninkielisiä
tai -- tekstillä varus-tettuja
Tulkaa ajoissa — ra-joitettu
tila!
CANADA NISEURA
977-581- 9
CANADA NlSEURAN mat-katoimisto:
CANSOV 596-13- 23
280 Queen St W Toronto
Ont
SUDBURY
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kuukausikokoukset pidetään
ukrainalaisella Jubilee haalilla
joka kuukauden toisena maa-nantaina
kello 1 1 aamupäiväl-lä
ellei asiasta toisin ilmoiteta
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tulee olemaan joka toinen
tiistai kesän aikana kello 10
aamupäivällä alkaen 29 päivä
kesäkuuta Jubilee Centre enti-nen
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läheltä ja kaukaa!
Sävel kuoron harjoitukset
torstaisin Aika aina määritel-lään
tilanteinen mukaan Enti-set
mukaan ja uudet ovat
myöskin tervetulleita
THUNDER BAY
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316 Bay St joka kuu-kauden
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kokoukset ovat kuukauden en-simmäisenä
maanantaina
Osaston osoite: RR 3 Site 13
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