Thursday, May 14, 2009

HST and death taxes explained

What is it with Flaherty and his love affair with corporations? Is it because he’s never worked for one, and desperately wants to sit on various Boards of Directors after a public office record of leaving behind a bunch of impoverished seniors whose investment preferences didn’t coincide with what best suited the personal self interest of today’s corporate managers, which was the sole tension that existed which resulted in the income trust tax?

Or is it because Flaherty arbitrarily declared in an act of juvenile petulance that Ontario is the last place in Canada to invest, which ultimately manifested itself in a 13% tax on everything in Ontario known euphemistically as HST, meaning that the Ontario senior, and the 75% of Ontario residents without pensions (where 40% of income trust investors reside and where 40% of the trust businesses have their head office) will now have $0.685 to spend on food clothing and shelter during retirement, whereas they used to have $1.00, and now that food, clothing and shelter will all cost more, including a new 13% HST surcharge on their home heating bills and roof repairs?

Does any of this sound just or fair? In fact I wonder whether the $1 billion in annual revenue that has been lost to date by the $100 billion in trust related takeovers caused by the reckless and petulant Jim Flaherty is the VERY thing that necessitates the 13% tax on everything in Ontario? If so what happens when the additional $6.5 billion in lost tax revenue from Flaherty’s income trust policy comes home to roost in the next 18 months? Where’s that money going to come from?

Maybe Harper’s promise to never tax income trusts or implement a death tax provides the clue, as in “You know where the Liberals stand on raiding seniors nest eggs. Whether it is death taxes, or taxing income trusts, a new Conservative government will never let this happen.”

That can only mean that death taxes aren’t far away?

Meanwhile what is Dalton McGuinty doing to champion the senior in this province and the 75% of Ontarians, unlike him, without pensions and who have now been deprived of their pension income due to Greg Sorbara’s support of Flaherty’s income trusts tax? Why is he not challenging Harper’s patently obvious tax leakage lie? Give us our income trust retirement revenue back, in light of the fraudulent argument upon which it was based, and we might be willing to forgive you on your HST transgression, corporate welfare grab and tax on everything that it most obviously is.

As for HST explained.....see above. There ain't much more to it than that. $2 billion annual gift for corporations funded solely by burdened taxpayers, making Ontario the last place in Canada to live....and raise a family.....retire in dignity....have justice....true tax fairness....proof of tax leakage?

1 comment:

Dr Mike said...

Maybe we should do a swap with the Ontario provincial Conservatives for Jim`s wife Christine Elliot.

As she runs for the leadership of the party she says "no" to the HST & "yes" to much needed tax reforms.

Her "Flat" tax proposal of 8% is smart & efficient.

These are 2 terms we could never use when we describe any policy put forward by her husband.

Let`s just hope that Jim does not have a "no trade" clause??

Dr Mike Popovich