Harper should count his lucky stars on income trusts

HARPER SHOULD COUNT HIS LUCKY STARS ON INCOME TRUSTS
Collingwood Enterprise Bulletin
February 5, 2010

Re: Your opinion Editorial of Feb. 3 entitled: "Harper needs to meet promises with action"

Which reads:

"Promise: Prior to the 2006 election, the Conservative election platform said: "A Conservative government will the Liberal attack on saving and preserve income trusts by not imposing any new taxes on them. Once in office, Finance Minister Jim Flaherty announced Income trusts would be taxed like corporations starting in 2011.

"Thousands of seniors lost their savings as a result."

Stephen Harper should count his lucky stars, as Canadian taxpayers who have lost $1.5 billion in annual tax revenue as result of the foreign takeovers of 51 income trusts over the last three years, have come up with a solution that Diane Francis of theFinancial Postcalls "brilliant" that prevents the remaining 169 trusts from experiencing a similar fate.

This Marshall Savings Plan solution creates a win win outcome for the government by preserving $6 billion in tax revenue to deal with Canada's deficit crisis, while at the same time preserving this essential investment choice, thereby dealing with the pension crisis for the 75 per cent of Canadians without pension.

Only somebody who is not a trained economist would turn down this deal!

See the win-win Marshall Plan solution to Harper's broken promise income trust mess athttp://marshallplan.ca/index.html

BRENT FULLARD