James Galbraith lets loose An amazing debate at National Journal. The journal asked, is there room for fiscal stimulus to respond to the crisis caused by the mortgage mess. David Walker, who’s been preaching the need to rein in entitlements, treated the crisis as a chance to push his favorite line: My concern is, when will Washington wake up and start doing something to defuse the potential “super sub-prime crisis” associated with the federal government’s deteriorating finances and imprudent fiscal path? And Jamie let loose: What is Mr. Walker’s approach to subprime crisis today? His comment above makes his approach clear. It is to use the crisis as a rhetorical springboard, in order to divert the conversation back to what he calls the “super sub-prime crisis associated with the federal government’s deteriorating finances…” But the fact is, the subprime crisis is real. The collapse of interbank lending is real. The collapsing stock market is real.
The disintegration of the financial system is real. The collapse of the housing sector is real. The credit crunch and the recession are real. You can see this in the interest rate spreads and in the credit that is unavailable at any price. Mr. Walker’s “super subprime crisis” of the federal government is not real. It is a pure figment of the imagination. It is something Mr. Walker sees in his mind’s eye. He sees it in his budget projections. He sees it in his balance sheets, which are the oddest balance sheets I’ve ever seen, because they have all liabilities and no assets. Read the whole thing.We don’t have an entitlement crisis — we have a health care crisis, one of whose manifestations is high projected costs for Medicare and Medicaid. And the way Walker tried to hijack the financial crisis on behalf of a benefit-cutting agenda deserves every bit of withering scorn you can muster.RRSP contributions can lead to a nice surprise at tax time because they’re deductible.
But everything has its limits, including your RRSP. It's little wonder why we Canadians love our registered retirement savings plans (RRSPs). Not only do they let us set aside money for retirement and allow the money to grow tax-free until it's withdrawn from the plan, but contributions can also lead to a nice surprise at tax time because they're deductible. In fact, for some of us, it's the one bright spot in an otherwise dreary season of receipt-wrangling. For 2016, you're allowed to contribute the lesser of $25,370 or 18% of your earned income for the previous year. Robb Engen, co-author of the Boomer & Echo blog, says there are a few important things to keep in mind: 1. Unused contribution room If you haven't contributed the maximum in previous years, you could have unused contribution room to carry forward. This will bump up the amount you're allowed to contribute. No need to do the math. Each year, the Canada Revenue Agency (CRA) does it for you. Just check the handy-dandy notice of assessment it sent you last year after processing your tax return and you'll find it lists and adds in your unused RRSP room when calculating your RRSP deduction limit for the current year.
2. Contributions to a pension plan If you're a member of a pension plan at work, then you have to subtract your "pension adjustment" (PA). Once again, the CRA does this for you on your notice of assessment. There's no need to worry about this the first year you join a pension plan, as your PA for a year reduces your RRSP deduction limit for the following year. You're allowed to over-contribute up to $2,000 to an RRSP. But if you go over that, you can be charged 1% per month on the excess amount. (Although, if you withdraw the extra funds right away and send a letter to the CRA explaining that it was a legitimate mistake, you may be able to obtain a waiver of the excess contribution tax.) There's no question RRSPs are one of the best ways to save for your retirement. Just remember, everything has its limits, including your RRSP. If you haven't already maxed out your RRSP contributions for 2016, there's still time. But Engen says, "Be careful. The CRA only allows contributions for the previous year for up to 60 days after year-end."
The RRSP contribution deadline for 2016 is March 1, 2017. For the young warriors at heart, the Little Dragon program emphasizes listening, following directions, and building a solid foundation. This program is an excellent way to improve your child’s coordination, concentration, and focus. Increases Children’s Attention Span: Classes are conducted at a rapid pace to help your child stay focused. Your child will have fun while learning in a disciplined and structured environment. Over time, this process will build the tools necessary for your child to develop his/her attention span. Confidence increases with each new task learned. As each new belt is achieved, progress is gained and knowledge increases helping enhance your child’s development process. Positive reinforcement is given to help build your child’s self-esteem. Teaches respect and discipline: Our programs emphasize the importance of respect to ones self as well as to others. As students learn the rules and regulations of the Academy, proper etiquette is constantly emphasized.
This helps to develop disciplined individuals. Children Ages 8 – 12 The children’s program introduces your child to the importance of setting and meeting their goals, working with others, and self-motivation. We fully support the academic development your child receives daily from school. Our program provides additional support and encouragement in the discipline and growth of your child’s character and personality. Our children’s program stresses the importance of a positive attitude in overcoming obstacles, therefore building confidence in ones self. As students develop an understanding of the martial arts, we require a higher degree of mental and physical self-control and discipline. We provide students with a complete knowledge and a wide range of self defense techniques, theories, and principles to prepare them for any situation. Teenager Ages 12 – 16 The teenager program focuses on self defense, improving attitude and discipline. Through constant practice a martial artist will begin to notice a better attention span, a more positive attitude and improved self esteem.