Not sure why the Globe ranked The Marshall Plan as number 4 as opposed to number 1, as requests submitted by Globe readers for the Marshall Plan received 9 of the top 10 highest rated comments, as voted by Globe readers.
In any event, The Globe writes today:
(4) Income trusts. Easily one of the most requested fixes. Many people also cited the Marshall Savings Plan as a possible replacement. Here are just a few of the many thoughts readers had on the subject:
- Revise the plan to change the way income trusts are taxed. There are plans available that would leave trusts very much as a source income without any tax leakage.
- Eliminate the proposed tax on Income Trusts. This proposal has been an absolute disaster, and the government has failed to prove that there will be any tax loss resulting. In the meantime it has made Canadian Trust businesses weaker and subject to foreign takeovers
- Marshal Plan - The solution for seniors who frantically search for income on their retirement savings is the Marshal Plan. The solution was Income Trusts but Flaherty killed that. Interest rates are too low to provide retirement income and dividends are double taxed in sheltered accounts (RRSPs, RRIFs). The Marshal Plan is a great solution to overcome these challenges for seniors.
- Cancel the Income Trust Tax Betrayal and end the Double Taxation in RRSP's...the Marshall Plan will do both and the government will get a windfall in taxes from happy seniors
Thursday, February 25, 2010
Posted by Fillibluster at 11:40 AM