Jeers: to jam yesterday and tomorrow, but never today. So, this week, St. John’s Mayor Dennis O’Keefe said that, because of the city’s growth, the provincial government has to offer up more money in lieu of taxes or the city’s taxes would double or triple. This, after years of Mayor O’Keefe and council telling us that we needed all the development we could get, that it was crucially necessary or else our taxes would skyrocket. No development? Taxes up. Development? Taxes up. Hmm. Sensing a theme here.
Jeers: to jam for councillors. So, St. John’s city councillors have taken their salary increase “out of the political arena” by tying it to pay increases for city managers, and that means an increase of eight per cent this year — 4.5 per cent last year and 3.5 per cent. Councillors will see a $2,800 bump in pay, while the mayor will see his salary increase by $7,963. Oh well, at least they’ll have the extra coin they’ll need to pay for those pesky inevitable municipal tax increases. Out of sight, perhaps, but not out of mind.
Cheers: to a penetrating insight into the obvious. A CIBC poll late last week found that 32 per cent of Atlantic Canadians “say they are not financially prepared for their retirement.” Most private sector employers don’t even offer pension plans, defined benefit plans are drying up and being replaced with defined contribution plans that leave your retirement at the mercy of the latest financial crash (read, the latest unregulated greed-fest by bankers or governments) and the best the federal government seems to be able to come up with is another pension pool to be administered by — wait for it — private-sector money managers. “Results may vary, but administration fees will be collected without fail, regardless of lacklustre or downright tragic fund performance.” Prepare for your retirement? Better be prepared to just keep on working until you drop — or get elected. There’s no nest as feathered as the one where you get to legislate your own free feathers.
Cheers: to money to burn — or at least, to tear up. A Brandon, Man., man has noticed that the new polymer $100 bills can tear easily in areas where the bills are nicked, and tested the theory by tearing one of the bills. His testing found that older, paper bills were stronger — as was two-ply toilet paper. Here’s a thought: if you have enough money that you can spend your time experimenting by ripping up $100 bills, please send us your money instead. We could put it in our retirement fund. Presto! Retirement planning.
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