Yes, Virginia, sometimes columnists do get it wrong
Globe and Mail
December 21, 2007
A B from Calgary Area, Canada writes:
Yes Derek.... you and millions of other Canadians drank and enjoyed at face value, OberGruppenFuhrer Flaherty's great 'Have a Glass of the KoolAid I am serving'.
Income Trusts... Bad, said Flaherty, Tax Fairness Plan.... Good.
Well it turns out to be The Exact Opposite..... There is Tax Leakage all right: from the tax-free Private Trusts and Pension Plans scooping up these once great assets. These once great assets that were distributing
there profits into the hands of unit holders... Where It Was Taxed.
Registering My Opinion from Canada writes:
It's taken longer than I thought for the press to wake up to the Flaherty/Harper Tax Unfairness Disaster. It's no wonder they only released 18 pages of blacked out data.
Not only has the sell off continued but the tax unfairness of double taxing Income Trusts in private RRSP's while letting Private Pension Plans off the hook also continues.
With the takeout of many Income Trusts by Private equity and Private pension plans the government stands to lose billions anually...much more than Flaherty's estimated mythical tax loss that he can't back up. Myths that have been proven false by many credible tax experts.
The next step is for this government to prove it's tax leakage case or drop the tax on Income Trusts. Show us how much is now being lost because of this careless action devaluing trusts for takeover.
It seems we must wait for the next election to get rid of these jokers and get a fair resolution to this issue.
M. R. from Canada writes:
Derek Derek Derek . . . your biggest mistake was not debunking the TFP for Canadians. This would have been a real public service. In this regard you have failed miserably as have all your coherts at the g&m.
All the info disputing Flaherty's tax loss claims is available but none of you took the ball and ran with it. Why?
Saturday, December 22, 2007
Posted by Fillibluster at 1:20 PM