Today’s Globe article on new credit card rules starts off with the line “He's the Finance Minister who suffocated the income trust sector and unleashed a deficit-inducing spending plan, but Jim Flaherty's most prominent legacy might turn out to be "the Flaherty box."
This is very insightful, since we have Michael Ignatieff referring to Flaherty/Harper’s income trust tax as being an act of “vandalism” that was premised on “fallacious” analysis and now we have the Globe likening it to infanticide?
These two descriptions are more like it, since Flaherty’s act of double taxing income trusts based on the falsehood of tax leakage IS an act of VANDALISM in destroying $35 billion of Canadians’ savings and was the act of INFANTICIDE by killing an investment choice that was essential to Canadians saving for retirement income and which represented the future of Canadian capital markets and a unique competitive advantage for all......except a corrupt and conniving few.
Hmmm......The Tax Suffocation Plan?.......I thought the purpose was to level the playing field, rather than level income trusts?
New credit-card rules coming
TARA PERKINS AND KEVIN CARMICHAEL
Globe and Mail
April 28, 2009
He's the Finance Minister who suffocated the income trust sector and unleashed a deficit-inducing spending plan, but Jim Flaherty's most prominent legacy might turn out to be "the Flaherty box."
He is expected to unveil new regulations governing credit cards next week, as governments ramp up efforts to clamp down on the industry in the wake of the economic crisis. Key elements will be the imposition of a minimum 21-day grace period, and a requirement for large-font disclosures about interest rates that are being likened by some to the warning boxes on cigarette packages, according to sources.
Tuesday, April 28, 2009
Posted by Fillibluster at 8:13 AM