In today’s government induced market meltdown, BFI Canada Income Fund declined the most in 22 months (hmmmm? that would be Halloween 2006 if I am not mistaken?) losing 17 percent to C$18.45. The income trust that owns a trash-hauling company announced plans, yesterday after markets closed, to cut the dividend and convert to a corporate structure.
The resultant loss of taxes paid to Ottawa from trust distributions otherwise received by Canadian tax paying investors will be exacerbated by the capital losses induced by this double punch exercise in fiscal insanity promoted under, of all names, The Tax Failure Plan
Tuesday, August 19, 2008
Posted by Fillibluster at 11:50 AM