In Canada “seniors” (what an awful word!) are the new elite. Politicians pander to them. They get tax breaks up the yin-yang. They suck up most of the health care. Their employers can’t even kick them out the door – not that most need to work. They’re rich.
Most have comfortable pensions and no debts and the ordinary Toronto houses they bought for modest sums several decades ago are now worth in excess of $1,000,000. They all say they’re much better off at this age than they ever imagined they would be. Indeed, fewer than 5% live below the poverty line – 1/3rd the rate of Canadian children – with their median net worth jumping 70% since 1999.
The above are edited introductory comments to an article by Margaret Wente which can be read in its entirety HERE.
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