From seniors-only tax breaks to free transit passes, Canadian governments now spend a collective $45,000 a year per senior in Canada compared to $12,000 for those younger than 45, says Paul Kershaw, a professor at the University of British Columbia who founded Generation Squeeze, an organization that advocates for generational equity.
Our Seniors were once viewed as the most vulnerable within our society, and indeed there are many seniors who lack any significant wealth to rely upon their future needs. Canadian seniors control many Billions of dollars in investments, their homes, stocks, and bonds here in Canada and abroad, certainly well over a Trillion dollars. These investments are locked away and often managed by financial advisors and banking concerns. It is believed that many Billions of dollars have been shored away in banking institutions throughout the world, in offshore hidden accounts. The accounting industry depends upon the senior community to offer it 48% of its annual business. Managing their accounts, working the laws of the nation to deny our governments the revenues needed through taxation. The senior lobby is a most powerful force, making up a large portion of financial contributors to our various political parties. The senior lobby community has unlimited financial and political sway within the nation using their own media sources to promote their political supporters and their own platforms. They often get what they want, but certainly not always. With the pandemic upon us, we have seen how the provincial governments of Canada had ignored this communities needs within senior homes both public and private. Many thousands of our seniors died of COVID-19 because our governments had other priorities, other projects. Understaffed, lacking safety and health protection in their homes, the senior community learned that no one gives a damn, and only shows concern for this sector of the population when bad things happen.
The Senior Community and its powerful lobby, along with the support of their families are bouncing back telling all governments, public and private management organizations responsible for their care that enough is enough, and quite simply they will not take mismanagement of their community homes, understaffing of their caregivers and being taken for granted anymore. A militancy within the community is growing, and its financial and political influence will be experienced directly in many ways. Who will run our national, provincial, and municipal governments are now under the magnifying glass of various senior organizations and community groups? As many as 12% of all Canada’s Seniors live in poverty. To the senior lobby, this will not do. Pharma care has become a needed policy that seniors will fight for, and most likely win. The wealthy and well-to-do senior is going to fight the Federal Government, attempting to drive their land, inheritance, and personal wealth taxes lower. Class action lawsuits directed towards provincial governments and senior living institutions have and will be filed. Seniors want to know who was responsible for the decisions made regarding perceived mismanagement in the institutions they live in.
Seniors want control of their lives and how they will live these lives to be returned to them. A massive financial and political shift within Canada may be upon us. The elderly are a mighty, vocal, and powerful force that no one can ignore any longer.
Steven Kaszab
Bradford, Ontario
[email protected]
