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Now we can all argue until we're blue in the face that the rule is unfair, or that it distorts markets, or that the government is limiting a person's retirement savings potential, but at the end of the day, everyone makes a free decision to put money in the RRSP or not.

Given this statement, shouldn't people have the choice? How would removal of the RRSP benefit anyone?

ps In tandem with the elimination of RRSPs, capital gains taxes should also be eliminated. That's the best way of creating wealth and thereby increasing one's retirement fund. But thats another rant!

Captial Gains taxes are a tax on investment, investment is what drives the economy and creates jobs. Thus cg taxes are a limiting factor in the growth of our country.

There are 3 main areas that I see a need for tax reform.

1) Reduction of capital gains taxes. They should be reduced to a level of say 15% or so. This would enourage investment.

2) Income Tax Bracket Creep. Right now the top bracket kicks in at $65K. How many people actually consider someone at $65K rich? This is the middle class. I would raise it to $100K immediately and then index it to inflation.

3) Creating a household tax rather than individual tax. Right now if I make $35K and my wife makes $35K we get taxed at a much lower rate than if my wife made $70K and I stayed home with the kids, even though the household income is the same. This is basically reducing the standard of living of families as the first family will be forced into day care (another problem). I propose that as for families with children , the top income earner should be able to transfer up to 25% of their income to the other spouse to cover child card expenses (if they wish).

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