Wednesday, January 13, 2010

Terry Corcoran seeks safe harbour from self

A reader wrote today to Terry Corcoran asking:

“Why do you want facts on pensions when you were willing to settle for 18 redacted pages of income trusts' "proof.” “

Which prompted Corcoran to claim the following:

“I have never mentioned the redacted trust paper, never accepted their validity or usefulness.” (Sent:January 13, 2010 12:16:07 PM: )

This is pure nonsense on the part of Terry Corcoran, of course he ACCEPTED THE VALIDITY of these redacted documents since he BLINDLY ACCEPTED Harper’s lies about tax leakage, as witnessed by the following:

"And when will you guys stop the bullshit about “tax exempt” status. PENSION FUNDS ARE TAX EXCEMPT. THEY DON’T PAY TAXES. STOP. END OF STORY.”

For Terry Corcoran to accept the argument of tax leakage as somehow being true is to IMPLICTLY accept the validity of Harper’s redacted (blacked out) documents. Only Stephen Harper type logic would argue that it is not. If Terry Corcoran had even an INKLING in knowing the truth, rather than blindly accepting tax leakage or not challenging blacked out documents, then he would have been calling for the release of the Harper government’s tax leakage proof, as his colleague with integrity Diane Francis did, in a her series of highly professional investigative news articles one of which ended with the clarion call to Flaherty of:

“Prove the case or drop the tax”.

Meanwhile as for his use of the word “never”, Terry Corcoran must be using that word in the same context as Stephen Harper when Harper won the 2006 election with the promise of “never raiding seniors nest eggs”. I guess some people’s ideas of “never” may differ than mine. So too their adherence to the truth, and the need for proof of things before accepting them as fact. In my case I sought out the facts and with one phone call on November 1, 2006 had the definitive HLB study that proves there’s no tax leakage

I have many more examples of correspondence with Terry Corcoran in which he desperately attempts to defend Flaherty’s lies about tax leakage, that all revolve around the question of “deferred taxes” that are paid by tax deferred entities. Terry Corcoran is so desperate to hang on to the term “exempt” to describe these tax deferred accounts like RRSPs and Pension Funds, because it helps dissemble the issue. Corcoran’s favoured term of “exempt” versus “deferred” when they actually mean the exact same thing in THIS context helps to confuse and conflate that somehow these retirement savings vehicles are some type of tax exempt charities that never pay taxes.

This series of correspondence reveals that not only does Corcoran not understand the significance of these words, he has no understanding of the underlying math that they imply. He is financially illiterate, in effect.

I had the same experience with Derek DeCloet when I sat down with him to discuss this issue at some coffee shop on King Street back in September 2007. Like Corcoran (of the National Post), Derek DeCloet (of the Globe and Mail) had NO understanding about the core aspect of this issues. He too proved himself to be financially illiterate. I had to draw picture to describe to him such a basic and rudimentary concept as “the time value of money.” Nothing wrong with not knowing. But there’s everything wrong with, upon learning, to suppress that pivotal knowledge from influencing your views and those spouted to readers, as Derek chose to do as he subsequently continued to “front for this issue” on Flaherty’s ultimate behalf, even with the knowledge that tax leakage is a lie.

Terry Corcoran is nothing more than a poster child for the Harper government, as embodied by Tom Flanagan and his philosophy of “It doesn’t have to be true, it just has to sound plausible”.

The importance of the word “exempt” to Terry Corcoran is that it helps to convey the falsehood that income trusts cause tax leakage, and the “plausibility” aspect of that false argument.

Terry Corcoran has been desperately defending Stephen Harper’s and Jim Flaherty’s lies about tax leakage to the point where he has libeled me several times in his newspaper and resorted to even calling out for me to be “vaporized” in a form of newspaper fatwa.

I have news for Terry Corcoran and his mindless ilk, it will take someone of greater intellect and resolve than him to ever stop me from getting this massive Harper lie and media cover-up from getting told to all Canadians.

Your ship has sunk. Unlike income trusts, your boat along with all your inane arguments are full of leaks. None of your arguments them hold water since they are based on dogma and no facts, There is no safe harbour for you to be found. You were part of a gang of thugs that attempted to expropriate $35 billion from honest hard working Canadians. Learn to live with it Terry, because we aren’t going to.


Dr Mike said...

So why is Terry juggling the terms tax exempt & tax deferred??

All he has to do is refer to the Revenue Canada web site where RRSPs are listed as tax deferred.

Besides that , common sense dictates the answer.

Shucks , I guess I just answered my own question.

Dr Mike

Dr Mike said...

“I have never mentioned the redacted trust paper, never accepted their validity or usefulness.” (Sent:January 13, 2010 12:16:07 PM: ) ---Terry Corcoran

I wonder why Harper had the Privy Council recall these same blacked-out pages unless they were the smoking gun.

DR Mike