Posted on: 28-10-04 02:16:59
Had to jump in! 
Crenshaw's calculation is correct, however the deduction is well.............if $2 billion is a small sum, why is the whole country agog about a surplus of $9.1 Billion?
According to the Conference board of Canada, we lose $4 billion a year because of not recognising immigrant qualifications.
Is THAT a small sum?
What I am trying to say, is that the numbers must be looked at in perspective.
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Quote:
Orginally posted by crenshaw
Even if you assume that every dependent family member also brought in C$10k, you also got your math wrong. 20,000 X C$10,000 = C$2b.
I do not know who got the math wrong!
4 and 4 zeros make only 8 zeros, where is this 9th zero required for a billion coming from? It is quite confusing because other 2 posters also agree.
20,000 immigrants is an assumption and only 10% of actual figure, I believe.
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How much did the GTA area lose due to the SARS crisis? or say the Power outage last year?
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I once made a mistake, but I was wrong about it.
Quote:
Orginally posted by Loser
plu the non educated people of Third world countries will be totally useless in this country.
Imagine a constructiion worker from India migrating to Canada.
What do you want to say?
Construction worker immigrating to Canada from India would enjoy a better pay and better standard of living for sure. It is a skilled trade.
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Lets look at it this way. CPP paid out 13.5 B in retirement benefits in 2001. Considering that immigrants bought in 2B in that year and paid 15 % in taxes on that 2B. Then we have 300 million contribution to the govt coffers.
So immigrants contributed 2.2 % to finance the pensions of retired Canadians without any hope that they will benefit from this.
Also most immigrants settle in Toronto whose economy is 1/5 th of the Canadian economy roughly 152 billion. If half of immigrants settle in GTA then approximately 1 B of the money they bring goes into greasing the wheels of the Toronto economy - and more importantly key areas of the economy such as housing, automobiles and the retail sector which likely account for half the TO economy.
There is no doubt that the Canadian decision to admit immigrants serves multiple purposes. One of these to pump up the economy of the main cities in Canada without which the Canadian economy would sputter and die.
Another is to get young, contributing members into the workforce who can pay for the retirement benefits of older Canadians.
And lastly to ensure that this country has some of the most educated drivers, security guards, gas station attendants, pizza delivery people (just kidding)
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I have only 2 cents to contribute, not a cent more, not a cent less ;-)
dont forget the cheap labor immigrants provide.
Indirectly it works to the benefit of the economy.
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I once made a mistake, but I was wrong about it.
Quote:
Orginally posted by my2cents
So immigrants contributed 2.2 % to finance the pensions of retired Canadians without any hope that they will benefit from this.
Without any hope that they will benefit from this? Why?
You assume that the CPP is going to go bust? Or are you under some mistaken notion that immigrants are not entitled to CPP payouts?
