Politicians know democracy is often compromised…but they enable it instead of combat it.
Prime Minister Carney, in his book VALUE(S), describes Canadians as victims of:
"Twisted economics, an accompanying amoral culture, and degraded institutions whose lack of accountability and integrity accelerate the system’s dysfunction."
In her book, PLUTOCRATS, Finance Minister Chrystia Freeland highlights the prevalence of elite attempts to use political influence for personal gain, stating,
“In an age of super-wealth, we need to be constantly alerted to efforts by the elite to get rich by using their political muscle to increase their share of the pre-existing pie, rather than adding value to the economy and thus increasing the size of the pie overall.”
Pierre Poilievre asserts that "Our system is broken.” and “Fire the gatekeepers.", probably alluding to our complicit Chief Actuary and the complicit President of the CBC.
In 2020, Mr. Poilievre responded to my email with the above details, saying,
Three of Canada’s top politicians are very aware that, behind the scenes, democracy is losing out to wealthy interests. It is deeply troubling that they all ignore this opportunity to right the ship and bring huge benefits to 99% of Canadians.
It appears that all three parties have agreed to remain mute. On such a crucial issue, for ten years, why has the Conservative and NDP parties never mentioned the CPP’s surplus when it could help them overcome the Liberal government’s stranglehold? The tentacles of the financial industry must be enormous but, unlike the US, under-the-radar.
The following is speculation but, with billions of dollars at stake, it should be mentioned. Recently, the NDP and the Liberals formed a coalition that gave low-income Canadians dental care and Pharmacare. Is it possible the NDP threatened to reveal the CPP's surplus? To prevent this, a coalition was formed and the NDP received much of the credit for bringing these considerable benefits to low-income Canadians.
The coalition idea backfired for the NDP. In the 2025 federal election, the number of NDP MPs elected declined from 25 to 7. Hopefully, the desperate NDP party will now adopt a platform of CPP reform, which would immensely increase their popularity.
When MPs rejected CPP reform as an option, one argument they may have fallen for is:
“Pension fund mathematics is complex. Trust our actuaries. They advise keeping any CPP surplus for a rainy day.”
With:
trillions of Canadians’ dollars contributed to the CPP,
an irrefutable $500 billion, 200% CPP surplus,
Standard pension practice giving a surplus distribution when the surplus is 25%,
Alberta possibly separating because of this issue,
The financial industry losing billions if the CPP’s surplus becomes known,
Actuarial employment likely halving if the CPP’s surplus becomes known,
Our Chief Actuary never audited,
Huge benefits available to 99% of Canadians,
No argument against distributing the surplus…
Politicians, our supposed watchdogs, need to step up, investigate and act, not ignore such a life changing topic for millions of struggling Canadians.
It appears our financial industry has convinced all three party leaders and their sycophantic MPs to remain silent regarding:
this no-risk substantial solution to the woes of 99% of Canadians, most who are struggling with debt,
this solution to our anemic GDP, productivity, unemployment, income inequality and deficit problems,
our mainstream media refusing to publish the most newsworthy, impactful story in Canada in years,
our Prime Minister vetoing our trusted CBC from publishing this story,
Alberta soon possibly separating from Canada because Ottawa refuses to follow standard pension practice.
I have recently received an email from Finance Minister Freeland and an email from Kristen Underwood, Canada’s Seniors and Pensions Policy Secretariat. They each gave a pathetic defence of their inaction on such a crucial issue claiming we need to let the surplus accumulate for the influx of baby boomers retiring (this is already fully accounted for by actuaries) and a downturn in investment success. However, there was no mention of “economic Armageddon” or the damage a CPP surplus distribution could impose on the financial industry and actuarial profession.
It appears Canada’s party leaders and their MPs decided to “drink the Kool-Aid” and abandon all principles of democracy. They also ignored a giant RED FLAG.
If the financial industry has told politicians that CPP reform would be detrimental to Canadians’ overall welfare, why do Canadians not see that argument published anywhere in our media, including our CBC? Why has the most newsworthy, impactful story in Canada in years never been published?
On this crucial issue that would bring huge benefits to 99% of Canadians, Freedom of Press is non-existent. Despite this RED FLAG, all our politicians remain pathetically inert.
Why would they do this? Just 1% of the financial industry’s annual profit is $1.6 billion. Please connect the dots.
Meanwhile, all federal and provincial politicians have received these details, with a “Shame on you.” tone. Even if my email never reached them, when Premier Smith announced the benefits she planned to give Albertans, all politicians should have investigated and then demanded the same benefits for their provinces.
Experts on democracy claim Canada is rife with bribery involving corporations. David Meslin, Canada's foremost expert on democracy, in his book "TEARDOWN," states,
“Our political system has evolved into a sophisticated enabler of mass institutionalized bribery... powerful corporations continue to wield enormous power in our legislatures.”
Duff Conacher of Democracywatch.ca emphasizes the significant financial impact of corporate cash, stating,
"Corporations spend $25 billion annually on their lobbying and promotion efforts."
If Canadians were aware of the above details, based on the considerable benefits described above, in a referendum, probably 99% would vote for a CPP surplus distribution. Moreover, any major federal political party could probably win a majority if they promised to give roughly 20 million Canadians $10,000 each. Where is democracy?
The evidence is overwhelming that, on this crucial issue, instead of
“Government of the people by the people for the people”,
Canadians are receiving
“Government of the people by the financial industry for the financial industry.”
The Good—and the Problematic—Sides of Capitalism
In much of the non-financial economy, capitalism has worked well for Canadians. Competition and the law of supply and demand have delivered a wide range of high-quality goods and services at increasingly affordable prices. The success of low-cost retailers like Costco and Walmart—and the decline of companies such as Eaton's, Sears Canada, and Hudson's Bay Company—illustrate how competition has driven prices down while maintaining quality.
Consumers can also understand how these businesses make money. A retailer might buy a product for $9 and sell it for $10, earning a modest margin to cover costs and profit. The model is transparent and grounded in competition.
Canada’s financial industry is different. It corners 47% of all corporate profit but only contributes 7.4% to our GDP. It rewards thousands of employees with multimillion dollar incomes. The evidence is substantial that it has used its hundreds of billions of profit dollars to covertly deprive millions of Canadians of hundreds of billions of deserved dollars from the CPP’s $500 billion surplus. This type of “capitalism” is disgraceful. It needs to be stopped.
Regrettably, our politicians, except Premier Smith, have yielded to the influence of our financial industry, assisted by the media industry and at-risk actuarial profession. However, if enough Canadians protest politicians’ undemocratic compliance, we may be able to bring huge, deserved benefits to millions of struggling Canadians. Specific suggestions on how to help are here.