State owned Korea National Oil Company today announced the takeover of Harvest Energy Trust that had been devalued in the hands of its present Canadian owners, by the income trust tax imposed by Jim Flaherty, Euromoney Man.
Les Parsneau writes:
Harvest has paid out $18.13 in distributions to approx. 150 million unitholders over the past 5 years (2004-2008). That amounts to approximately $2,719,500,000 ( $2.7195 billion) in distribution payouts over the last 5 years. Flaherty would have us believe that nobody pays tax on that money. So for 5 years no one paid taxes on $2.7195 billion dollars. So if we never collected any taxes then let's sell it to a foreign corporation who will pay no taxes and Canada will lose nothing! Sounds fair!
Thursday, October 22, 2009
Posted by Fillibluster at 11:58 AM