|
What would you call those people then?
They're certainly not wealthy elite of any sort. I think the definition of middle class has very much changed, it became such a non-existent part of the social fabric that it now just includes, at least in the lower mainland for sure, everyone that owns I would say anywhere from 1-2 properties... maybe even 3 if the extra ones are condos, not detached homes, and can afford to go on a vacay 2-3 times a year?
Like, they can't escape working and can't necessarily retire HERE anyway... but they also aren't hurting. That's "middle" isn't it?
Nobody that owns say 2 properties here is flying around the world buying luxury watches and exchanging currencies en masse to take % gains and buying property in other countries to hold money or make some extra... they're just trying to grab hold of something that materialized here from years of mismanagement starting back in the 90's and get enough to chill out their last few years.
Otherwise? Your choices are to rely on pension which probably means you have to move to SE Asia/South America or live totally brokeass here.
Lower class/working poor just works their whole lives until they die... middle class tries to accumulate enough assets sot hey can stop working at some point and maybe have a bit of generational wealth... upper class does whatever the fuck they want.
This taxation strategy attacks anyone trying to establish a safety net for their retirement that doesn't revolve around doomed government CPP and, if they're lucky, a bit of generational wealth or better future for their own kids.
|