Stealing From the Future: The High Cost of Senior Benefits

In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down why political promises to give "more money to seniors" actually enrich Canada's wealthiest demographic, the myth that retirees "paid into" Old Age Security, how brutal child benefit clawbacks contrast with generous senior write-offs, and how taking money from young workers is quietly hurting the economy. 

Chapters:

00:00:00 The Problem with “More Money for Seniors”

00:02:53 How OAS Works & Why Income Thresholds Matter 

00:04:36 The Conservative Payout Plan

00:05:41 Seniors vs. Struggling Young Families

00:08:32 Generational Theft & Economic Drag

00:10:03 Why Politicians Pandering to Boomers Always Win

00:13:23 We’ll Be $3 Trillion in Debt and Still Giving Discretionary Handouts

00:14:37 Stop Giving Wealthy Retirees Welfare

RESEARCH LINKS:

Sabrina Maddeaux column (National Post) — https://nationalpost.com/opinion/sabrina-maddeaux-conservatives-lose-the-plot-with-pitch-for-higher-old-age-security

Old Age Security — overview, amounts, and clawback thresholds (Government of Canada):

https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security.html

Canada Child Benefit — income thresholds and calculation:

https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview.html

Parliamentary Budget Officer — fiscal analysis of seniors benefits and OAS projections:

https://www.pbo-dpb.ca

Generation Squeeze — generational fairness and intergenerational transfers:

https://www.gensqueeze.ca

Net wealth data: https://www150.statcan.gc.ca/n1/daily-quotidien/241029/t001a-eng.htm 

Poverty data: https://www.statcan.gc.ca/en/topics-start/poverty 

Parliamentary Budget Office costing: https://www.pbo-dpb.ca/en/epc-estimates--estimations-cpe/45/EL-45-1031563-P 

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Edited by Sean Foreman and Canadian Civil