Thursday, October 22, 2009

Euromoney Man's Plan to divest Canada of major tax revenue


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! 

2 comments:

Dr Mike said...

Why in hell is no one other than us squealing about this type of travesty??

Is there no one else out there that sees this as a detriment to the Canadian way of life thru lost ownership , lost investment potential & lost tax base??

Where are the NDP who despise anything that rips income out of the hands of Canadians & into foreign pockets??

Where are groups like CARP who have aided Meow Mix sales with their lack of support for income trusts??

Where is the media as less personal income will mean their demise??

Where is anybody but us??

Dr Mike

Lizt. said...

The media is pretty useless .. The Canadian Press is the best.