Which of the Following Describes the "Taxback" Rules of the GIS

question 75

Multiple Choice

Which of the following describes the "taxback" rules of the GIS program?

• A) They encourage people to work past 65 if their pension plan allows it by reducing the taxes paid by older workers.
• B) They create a strong incentive for retirement, especially for the poorest workers.
• C) They pay $2 towards post-retirement income for every $1 paid in pre-retirement taxes.
• D) They do not tax RRSPs or other private pension programs.

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Definitions:

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A condition where individuals or households are unable to predict their future financial stability, often due to unstable employment or income.

Labor Contracts

Legal agreements between employers and employees outlining terms of employment, including duties, compensation, and working conditions.

1936 Election

The United States presidential election in 1936, where Franklin D. Roosevelt was re-elected for a second term in a landslide victory over Republican challenger Alf Landon.

Herbert Hoover

The 31st President of the United States (1929–1933), whose tenure is often marked by the onset of the Great Depression.