Do you suppose the Liberal brain trust and Power brokers like unelected Senator David Smith will be able to connect these two hypocritical dots staring them straight in the eyes?
(1) It’s quite remarkable that at a time when the country was gushing with surpluses, that the Harper government felt compelled to shut down income trusts in order to stem alleged tax leakage on the basis that:
“Well, as Minister of Finance, I have a fiduciary obligation to the taxpayers of Canada today, not tomorrow, an obligation to pay for needed social, environmental and economic programs today, not tomorrow. I cannot, and I will not, fund today's programs from tomorrow's revenues.”
(2) Such corrupt logic is an absolute crock in terms of financial theory, made ever more so by the fact that we are now at risk of budget deficits and Flaherty’s announcement of a TFSA thingy, as reported in today’s Globe and Mail entails an arrangement whereby:
“Staring in 2009, people 18 and older will be able to put up to $5,000 a year in a Tax Free Savings Account and rack up investment gains without paying taxes, even at withdrawal”
I am at my most facetious when I say that no doubt this will lead to articles of condemnation in the Toronto Star by David Olive entitled Income Trusts 3.0 or a fine erudite piece by Eric Reguly in which he declares the TSFA to be the second coming of Capitalism for slobs
No doubt Power Corporation will be able to make the TFSA work for them in a way that they couldn't compete with income trusts and embarked on enjoining the Harper government to kill them on false grounds.
All I know is that Trusting Flaherty Spells Anguish.
Wednesday, February 27, 2008
Posted by Fillibluster at 10:22 AM