Baby-boomers will shape the economic reality continued from p.26 house while the younger generation will have economic hardship if house values fall. Most people in Oakville think house values can only go up. In my opinion, that is entirely incorrect. Your house is an investment and all investments have the ability to increase and decrease in value. Looking ahead, what is next? Again, economic reality will largely be shaped by baby-boomers because of the sheer size of their numbers. Aging baby-boomers are retiring and starting to require more health care. The younger generation are going to be taxed on earnings in order for free medical services to continue for an aging population. Old Age Security payments will be given to boomers and these payments will come from taxing the younger generation during their working years. Canada Pension Plan payments are self-funding, Old Age Security payments are not. Earlier in the article, we asked your opinion on whether profits from the sale of a principal residence should be taxed. Now is the time for your answer. To summarize, older Canadians profited from rising real estate values and are now coasting into retirement and requiring the government to support them with medical costs and Old Age Security payments. That obligation will fall on younger Canadians. Taxing the gains made from selling a principal residence would be one strategy of transferring some of the economic prosperity of baby-boomers to the government so the younger generation is not left paying all the bills for their elders. In the spirit of fairness, there is a strong argument gains from the sale of a principal residence should be taxed. -- Submitted by Peter Watson, MBA, CFP , R.F .P ., CIM, FCSI., Certified Financial Planner 29 | Thursday, November 26, 2015 | OAKVILLE BEAVER | www.insideHALTON.com PLUS YOU STILL GET 0 AS LOW AS % $ APR GET UP TO PURCHASE financing ON SELECT NEW 2015 and 2016 VEHICLES TOWARDS SELECT NEW 2015 VEHICLES (2015 F-250 gas models shown) IN MANUFACTURER REBATES 9,000 NO-EXTRA-CHARGE SENSORS ** $ 1,000 ON MOST NEW 2015 AND 2016 FORD MODELS ELIGIBLE COSTCO MEMBERS RECEIVE UP TO AN ADDITIONAL A WINTER SAFETY WINTER TIRES RIMS Up to $2,300 MSRP Value (on Edge) PACKAGE^ with the purchase or lease of most new Cars, CUVs and SUVs VISIT ONTARIOFORD.CA OR YOUR LOCAL ONTARIO FORD STORE TODAY HURRY! THE #FORDBLACKFRIDAY EVENT ENDS NOVEMBER 30TH! Vehicle(s) may be shown with optional equipment. Dealer may sell or lease for less. Limited time offers. 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