Monday, April 09, 2007

Flaherty's Income Trust Giveaway

What a genius we have as a finance minister.

In order to stop tax bleeding due to income trusts he decided to levy a huge tax which he claimed fixed the tax leakage. Instead what we have now are foreign investors buying them up where they will now be taxed in ANOTHER country. So we now get no tax from them. So far Flaherty's genius has resulted in 11 Income trust buyouts to date resulting in a 73.2 million tax loss to federal coffers.

What was his intent again? To make them fair or to get rid of them altogether?

This is what you get when you have a party in power that has no clue on how to run a country outside of an election campaign.

Great job Flaherty, a few more months you'll run Canada in to the ground the same way you did Ontario.

Promise made, Promise Broken. There is no greater fraud than a promise not kept. Recommend this Post