Thursday, May 7, 2009

Double standard alive and well at the Globe and Mail.


How come the taxes paid on dividends ( at the reduced dividend tax rate) at the personal level count for the corporate cheerleaders at the Globe, when the taxes paid at the personal level (at full rates) on distributions from trusts don't? Yeah right!!


You noticed the Globe’s inherent inconsistency on the trust matter! You’re right. Here we have Derek DeCloet rushing to his owners’ defense, as if BCE’s virtue is at stake, by arguing that I have failed to include the taxes paid to Ottawa at the investor level on BCE’s dividends, when in fact I did. And then you have Andy Willis in a piece dated September 22, 2008 during the election entitled “Liberals reopen income trust wound”, making the misleading closing argument of: “The Liberals are also going to have trouble defending a trust regime that shifts the tax burden of corporations on to individuals.”

Talk about a total contradiction as between DeCloet and Willis as the Globe desperately clings to the nothingness of their arguments against income trusts and the Globe’s fallacious (Ignatieff’s term) argument that income trust cause tax leakage, The Globe has been fighting this seminal truth (that income trusts DO NOT cause tax leakage) ever since November 7, 2006 when I first contacted John Stackhouse, Editor of ROB.

Andy Willis’s argument is made even more disingenuous when he neglects to qualify whom he is referring to via a the term “individuals”, and conflating concepts in a failed attempt to mislead his readers. The “individuals” involved are investors who are happy to pay taxes at the average rate of 38%, and not “individuals” as in taxpayers at large.

Talk about a double standard alive and well at the Globe and Mail.


Subject: BCE pays ZERO TAXES for Q109, $550 million less for the year than if it were an income trust

On 5/7/09 3:06 PM, "DeCloet, Derek" wrote:

Zero taxes? That's funny. I could have sworn that the government taxes my dividends.

My response to DeCloet:

Correct. Which is why that has been fully factored into the $550 million figure that I cited. See:


Dr Mike said...

At Last Derek sees our point here!!

We pay the tax on our trust income & are happy to do so as he does with his dividend income.

The trust pays minimal tax but we pay as the cash goes to us.

We like the fact that the tax burden has been shifted to us the individuals.

Say Derek , maybe you could tell your buddy Jim that we don`t mind paying at all.

Dr Mike

Anonymous said...

Dear Derek,
After all this time, you still seem sceptical and appear to find some degree of pleasure in supporting the unsupportable.
i.e. The actions and consequences of Flaherty's deception and Harpers Lies and deceit.

Forgive me, but I fail to understand how a journalist of your stature and experience failed to note that Brent had already netted out dividend taxes.
However, that said, please don't get mad, but continue reading.

May I please ask you to put any previous animosity aside between yourself and Brent Fullard, and "Take the high Road" now.

Derek it's time.
I think both you and I and all ethical people know that we can never go wrong by doing what is right. Yes?

You are in a position to finally present the hard facts that Canadians need to know. Namely, that 2.5 million innocent Canadians, many Senior Citizens like me,
trusted Steven Harper when he categorically lied about "Never raiding senior's nest eggs" then caused the loss of at least $35 billion of our hard earned savings on
Halloween eve 2006, and a further loss of billions of Dollars in tax revenue, that would have been paid, had his deceitful "Tax fairness " legislation not been implemented.
Harper and Flaherty broke what was not broken.
They lied and deceived the very Canadians they had promised to protect.
Their heinous actions affected all of us for generations to come.
And you know why they were able to get away with it?...because journalists like you Derek, either failed to understand, or failed in their duty to inform the General Public,
about the enormity and serious harm these deceitful, incompetent, lying, unqualified individuals, had perpetrated on all Canadians.
And yes I mean "unqualified". did you know Flaherty is a failed "ambulance chaser" lawyer with no Educational Qualifications in Finance or Economics?

Derek, why not take the high road and have the courage, despite what your editors might wish, and tell the truth to all Canadians.
You have the venue, the stature and the skills to fully expose Harper/Flaherty's horrid vandalism that impoverished vast numbers of Senior Citizens.
Not "Investors", but "Savers" like me.

The question is Derek:- Do you have the moral courage to do what is right. Admit you were wrong in your earlier analysis. Be big enough Derek!
Either you are part of the cure, or by your inaction, a complicit part of the cabal.

Descartes, the famous French mathematician and Philosopher stated... "We are our choices!"
What's yours going to be Derek?
How would you like to be remembered?
Please help.


O. Paul Muser
Senior Citizen.