Thursday, April 3, 2008

Today’s St. Catharines Standard Letter to the Editor



Harper, Flaherty are the ones lacking integrity and accountability
Posted 1 hour ago
April 3, 2008

Re: Political attack ad is nothing more than graffiti, The Standard, March 27.

In this letter to the editor, David Lewis says, "the authors lack integrity and credibility."

Actually, it is the Stephen Harper government that lacks integrity and credibility. Harper clearly stated before the last election that a Conservative government would not change the way income trust businesses were taxed.

Based on this solemn pledge, when Harper was elected many Canadians felt it was safe to invest some or more of their hard-earned dollars into income trust businesses. Also, based on Harper's word, several businesses adopted the income trust structure.

Shortly after being elected, Harper sabotaged these investors and businesses when he did a complete 180 by imposing a draconian new tax on income trust businesses. The announcement of this new tax immediately saw the share value of income trust businesses fall by some 30 per cent causing the loss of $35 billion to those who invested in these businesses. The share prices of most of these income trust businesses have not recovered.

This was the most heinous act ever taken by the Government of Canada directly against a particular type of investment - and it mostly affected senior and retired investors.

The Canadian Association of Income Trust Investors is doing yeoman work fighting to right a wrong. It's the Conservative government that lacks credibility and integrity in the eyes of up to four million Canadians who felt it was safe to invest in income trusts once Harper was elected, only to be stabbed in the back.

Terry Martinson

First Street East

Fort Frances, Ont.

3 comments:

Dr Mike said...

To all the folks in the St Catherine`s area writing letters in support of the trust initiative :

Thank you , thank you , thank you--you do us proud.

Dr Mike.

Mary the Golfer said...

Mr Flaherty we are waiting for you to come out & debate the income trust issue.

One of your colleagues was quoted the other day : "I don't think Jim's losing any sleep over it, as a matter of fact I'm sure of it. I'm sure he'd love to go a couple of rounds with these guys in a debate situation."

We are indeed waiting & hoping , hoping that you will have enough intestinal fortitude to do the right thing & debate this issue. The lack of any response is indeed an admission of wrong doing.

Mary P.

Northern PoV said...

Why the Income Trust Betrayal is the worst kind of political-broken-promise.

* Most political-promises involve whole populations: “I will not raise taxes” is said during the campaign and then when the promise is broken, the consequences apply to many or most of the people. Not a good thing, perhaps but at least a single group is not disadvantaged.

* Harper solemnly made the I.T. promise in reaction to a trial balloon that the finance dept. (under the Liberals) had floated. It was very specific and meant that a specific, large group of people kept their Income Trust stock and/or bought more and very likely earned Harper the extra votes to squeak into power.

This broken promise singled this group out for huge punishment. Hence the uniquely evil character of this betrayal. (It surely trumps the sponsorship scandal … but I doubt others are ready to hear that.)