Friday, April 24, 2009

Jim Flaherty is the Typhoid Mary of tax leakage

Typhoid Mary was a scullery maid who was infected with typhoid during the turn of the century, in New York City. She was a rare case, in that she carried typhoid, but didn’t exhibit its conditions or suffer from its ravaging effects.

Everywhere Typhoid Mary was employed to work, she left behind a family ravaged by typhoid, until she was forced to move on to a new family of her employment.....only to cycle her illness to a new group of unsuspecting people.

This is analogous to Jim Flaherty, who falsely claimed that income trusts cause tax leakage, a phony claim that served the interests of Canada’s large life insurance companies and the owners of Canada’s narrowly held and grossly commercially corrupted news media organizations. These people were far too self interested and intellectually vapid to realize that their patently phony ruse would actually LEAD to tax leakage.

Although widely predicted by others such as myself, little did they acknowledge or even care about what would ensue in the way of takeovers, as this YouTube reveals as these two reporters fall all over each other arguing which of the two was more wrong than the other in their lame predictions:

Click here

This despite my having written to the Editor of the Globe and Mail’s Report on Business, John Stackhouse, this highly well informed and prescient observation on November 8, 2006:

“What does this have to do with Income Trusts? Based on the observations I made above, is it not possible that Finance, if not guilty of "sexing up" the data, is at least participating in "massaging" the data to assist in making the case that happens to resonate with the average Canadians' intuition , notwithstanding the fundamentally flawed analytical framework and notwithstanding the negative economic repercussions it will induce?

There are a hole host of secondary considerations/repercussions that arise from such a change in tax policy, some of which I attempted to address in my letter, such as limiting the investment choices of Canadians as they face the difficult task of providing for their retirement and the potential "hollowing out" effect of Canadian business, just to name the ones I am most concerned about.”

Meanwhile here is what Jim Flaherty, the Typhoid Mary, of tax leakage has wreaked on unsuspecting Canadians as he cycles through Ottawa after “killing off” his previous employer, while the Treasurer of Ontario and selling off 407 and Bruce Nuclear to foreigners in an unsuccessful attempt to bury a $6 billion deficit, that he subsequently attempted to deny:

Jim Flaherty’s false diagnosis of tax leakage has caused harm to all taxpayers in Canada. Even the copy editor of the London Free Press gets that brain dead obvious point. For when the copy editor of the London Free Press was asked to do the layout for my piece that also ran in Sun newspapers across the country on April 7, 2009, this is the part that he/she felt was deserving of bold highlighting and special large font type (see attached):

“The trust takeovers to date by foreigners have caused Ottawa and all taxpayers to lose more than $1 billion in annual tax revenue, a number that will soon climb to $7.5 billion. And for what?”

This lose of taxes is the EQUIVALENT OF A 1.5% INCREASE IN THE GST. It will be borne by all taxpayers.

Flaherty's actions have caused a tax leakage A TYPHOID MARY PANDEMIC of tax leakage. What an incompetent and intellectually corrupt evil doer, causing a $7.5 billion ANNUAL TAX LEAKAGE PANDEMIC and not having the Moral Compass to admit it or reverse it.....ditto for these two “reporters” in this video:

Click here

Like Typhoid Mary, these reporters along with Jim Flaherty need to be shipped off and put in quarantine, where they can stop inflicting us with their nonsense quack medicine and bogus snake oil arguments, as we attempt to recover from the ravages of the very Typhoid that THEY have inflicted, not just on Taxpayers but the proud institution of journalism that they have corrupted with their complete absence of either FACTS or LOGIC.......or common sense and decency to admit when they are wrong and acknowledge that they never were right to begin with.

1 comment:

Kephalos said...

The one-half of the corporate income tax family has just taken to its sick-bed.



The Canadian Press

April 24, 2009 at 12:06 PM EDT

OTTAWA — The Finance Department says corporate tax payments to Ottawa fell by $2.5-billion in February — or 44 per cent lower than last year — in a graphic indication of how the recession has hit business profits.