Posted on: 28-10-04 17:50:55
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Orginally posted by my2cents
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.
I don't get this. Are you suggesting that $2Billion (estimate of settlement funds brought in by immigrants) is subject to income tax @ of 15%. So far as my knowledge goes you don't pay income tax on the funds you bought in - but interest earned on the funds deposited in the banks are subject to tax in the individual's tax return.
Daks
Crenshaw
What I meant to say was without any guarantee that they will benefit from CPP because many will leave after getting disheartened by the job search.
Besides given the track record of the liberals in Workmans comp, spnsorship scandal, there is a higher than average change of a scandal in the CPP in the coming years.
Daks
When people spend money in Ontario they pay 15% tax on their purchases in GST PST. My assumption for illustration purposes was to count all that money going towards CPP, which may be wrong but just trying to put things in context.
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I have only 2 cents to contribute, not a cent more, not a cent less ;-)
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Orginally posted by crenshaw
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Orginally posted by WattMan
you forget the fact that all these educated immigrants also bring in loads and loads of $$$. some rough maths:
each single immigrant has to bring in atleast CAN$ 10,000
assuming that there are 20,000 immigrants in a year
20000 x CAN$ 10000 = CAN$ 200,000,000
Wrong! A principal applicant brings in CAN $10,000. The increments for other dependent family members are lower. 200,000 immigrants per year includes dependent family members as well. A typical family of 4 would bring in around CAN $15k (average per family member = $3.75k.
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. However, even assuming that $2b is brought in by immigrants, the total size of the Canadian economy is about US $900b, which translates to C$1.2 trillion. C$2b brought in by immigrants would constitute less than 0.2% of the total size of the economy – a number that is insignificant by any standards!
Quote:
Orginally posted by WattMan
in plain words, immigrants bring in ATLEAST CAN$ 200million each year. this is excellent money and above all its interest free and available immediately for the Canadian government to use. No paybacks either.
can anything else beat that ???
?? The number is $2b (assuming that dependent family members also bring in C$10,000 each). Available immediately for the government to use?!!! Does the government take your money from you when you land at the airport?
I do agree that Canada is not interested in your $10K, because if a person gets on EI (emplyment insurance) they in return give you aprox. 10K during the EI period. Plus the child care money you get monthly from government.
Government ends up paying you more than what you braught in Canada.
If Canada was realy interested in 10K they would not allow PR to claim EI.
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Try overtaking child's imagination
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Orginally posted by mercury6
Its a sort of a mini tourism industry.....Except of course people dont immediately go to check out spots. or maybe they do, especially ones who are here for just their PR cards and intend to return back to whereever they came from and had a "JOB".
It definetly pays the salaries of quite a few govt employees. (among others)
A bit illogical to say if you return back with your PR card after say 2 months, you probably take back your money. And if a person is clear of the intention to return back with PR Card, probably the smartest step during the 2 months period is to take up labour job and earn the trip back plus booty that was braught into Canada.
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Try overtaking child's imagination
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Orginally posted by jago_desi
Quote:
Orginally posted by mercury6
Its a sort of a mini tourism industry.....
It definetly pays the salaries of quite a few govt employees. (among others)
A bit illogical to say if you return back with your PR card after say 2 months, you probably take back your money. And if a person is clear of the intention to return back with PR Card, probably the smartest step during the 2 months period is to take up labour job and earn the trip back plus booty that was braught into Canada.
If a person from India comes and ready to go back in a few months....they are going to go around (Niagara Falls etc....) , buy stuff and probably take some back home....All things a tourist would normally do.
True that if in that time they take a Temp Job they can use that for the above.
remember that they cannot take back 10K. Some of it will be spend on Food/lodging etc...
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I once made a mistake, but I was wrong about it.
I fail to understand the argument/discussion on this topic. No one has forced any one to come to canada as an immigrant. the government clearly satys, initial settlement period would be hard. They clearly thnak you for choicing Canada as your destination. Canada needs you thats why they offer you immigration.
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Windsorguy
Life: Love it or Change it!!
Rajcanada is right. C$10,000 x 20,000 = C$200,000,000 (200 million) and not 2 billion. But if you correct the figure of 20,000 immigrants to 200,000 immigrants (which is the no. of immigrants the Canadian govt. lets in every year.....actually it is somewhere around 250,000) then the amont of 2 billion makes sense but on the economy scale, the figure is peanuts. Moreover, all immigrants do not spend the entire amount that they bring in.
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It's better to be looked over than overlooked.
