Friday, August 22, 2008

Flaherty needs this debate at lot more than I thought

Evidently Jim Flaherty has turned down the debating opportunity that would fund a $50,000 scholarship at the Ivey School of Business for Financial Literacy, citing the fact that the Tax Failure Plan is now law. At least that’s what his spokesperson said. I will only believe it when I hear the rejection from Flaherty himself.

Obviously Flaherty needs this debate more than I thought. Perhaps he is unaware that the tax itself doesn’t kick in for another two years, making his “it’s the law” argument both facile and weak. That’s like saying you are willing to go barreling down a dead end highway oblivious to the fact the road ahead ends in cliff, but the law requires that you proceed recklessly ahead and imperil all the passengers in the car in some version of an economic death wish.

I wonder whether Jim Flaherty is even aware of the fact that the rapacious 31.5% tax doesn’t kick in for another two years?

Meanwhile, had Jim not become conscious of the litany of warning signs that line this highway to hell? Signs like CONSTRUCTION AHEAD: BCE LBO results in more lost taxes than an income trust could ever hope to. Or the sign that says ROAD ENDS: Retirees are substantially reducing their standard of living to fund the private equity takeouts of their grossly devalued trusts. The one sign that really irks me is the one that reads STOP: This Finance Minister is reckless.

I wonder whether Jim Flaherty will be running for office in the next election, or simply running from office?

Here’s what Seymour Schulich had to say about Flaherty’s trip down a dead end highway:

Click here

Bait and Switch:

We hear a lot about “fish or cut bait” from the about this exercise in “bait and switch” :

Hill Times March 31, 2008:

"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 [CAITI] guys in a debate situation."Unnamed Ontario Conservative MP

Financial Post August 22, 2008:

"The tax fairness plan is law. The Minister made his position clear before the finance committee and there is no need for further debate," Flaherty’s press spokesperson said.

Only one problem:

The tax was also the law on March 31, 2008 when the debate between Flaherty and CAITI was first proposed by the Conservatives.

I guess those were simply empty words. An exercise in bait and switch....or in this case debate and switch. These people can’t be taken seriously.

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