Put money in hands of seniors, Layton tells PM

Daniel Leblanc
Globe and Mail
February 18, 2010

The corner store will be the cornerstone of the economic recovery in Canada if Jack Layton has his way.

After a meeting with Prime Minister Stephen Harper this afternoon, the NDP Leader called for the next wave of stimulus funding to go to Canada’s elderly, especially senior women.

(1) Ottawa, Ontario: I am a senior citizen who has depended on the revenues from oil and gas income trusts to be able to survive in my retirement years.

Even though the income trust tax proposal and the recession we are now in has devastated the value of my investment portfolio, I still rely on the distributions I receive from these trusts to supplement my small pension.

When the income trust tax proposal becomes effective in 2011, I believe the cash flows from these investments will dissipate and I will be left with no viable investment alternatives. This will result in insufficient funds for my wife and me in our retirement years.

There are many hundreds of thousands retirees in the same position as I, who would like to see this unjustifiable income trust tax proposal revoked.

It is also imperative to revoke this fallacious income trust tax proposal to enable the valuable Canadian oil and gas trusts to maintain their competitiveness in a very difficult credit market by having Canadians continue to invest in them.

Also, as Canada is facing a serious deficit due to the recession, retracting this income trust tax will lead to increased revenues of many millions of dollars which will help to reduce the amount of any deficit.

(Contrary to what the Conservative falsely state, Income Trusts resulted in a substantial tax gain to government coffers and not a tax loss)

There will also be millions of dollars in foreign investments in these Canadian companies recovered that was lost when the original tax proposal was implemented by the Conservative government. In a time of a difficult credit situation and a recession, this would be very beneficial to these Canadian companies who are competing in a difficult world market.

(2) St Thomas, Ontario: Help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living

(3) Stouffville, Ontario: A solution to the least thought out policy by a Canadian Government in ou
lifetime. Losing income trusts is a true hardship for the 75% of us with no pensions.

(4) Montreal, Quebec: As a result of the increasing number of income trusts I purchased over the years, my taxes were always higher than the year before. If the trusts are cancelled, I am positive my tax rate will drop precipitously and both the Federal Government and the Provincial Government (as well as myself) will be the losers. Furthermore, if my income drops, I shall not buy as many clothes or items for my home. I will watch TV rather than a movie. The Federal government is very short-sighted and the national debt will rise and rise for lack of taxpayers' contributions.

(5) Sorel-Tracy, Québec: Il y a une opportunité de corriger la terrible erreur commise par le Ministre des Finances le 30 octobre 2006 quand il a décidé, UNILATÉRALEMENT, de détruire les fiducies de revenu.
On vit les résultats maintenant. Pertes de taxes pour le gouvernement fédéral, les provinces et les petits investisseurs et les retraités.
Les étrangers achètent les fiducies et gardent des options qui ne sont plus disponibles aux citoyens Canadiens.
Les grands fonds de pension privatisent des fiducies et ont une option que je n'ai plus.

Il est temps que la politique d'imposition des fiducies de revenu soit réexaminée ET changée. Les seuls gagnants de la politique actuelle sont les capitaux étrangers et les grands fonds de pension.
Pour les citoyens ordinaires il n'y a que des pertes : pertes de véhicules d'investissements, pertes de revenus provenant des fiducies de revenu et DOUBLE TAXATION pour les REER et FEER.

Le plan " Marshall " brille pas son équité, sa faisabilité et ses solutions innovatrices.
S'il-vous-plaît, lisez ce plan avec l'esprit ouvert en ayant le mieux-être des Canadiens et ce, non au détriment de qui que ce soit.

Le plan " Marshall " , une solution efficace pour un problème réel, créé de toutes pièces sous de faux prétextes.

Merci et bon retour au travail,

(6) Burlington, Ontario: Please Implement the Marshall Savings Plan Solution in the upcoming budget. The decision to change the taxation of income trusts (especially the ones held in registered accounts ) has been completely wrong and unfair. This is your last chance to correct this major error. Seniors will never forget this assault on their savings.

(7) Toronto, Ontario: Does anyone in Ottawa know what returns seniors are actually earning in their RRIF and RRSP accounts?

Income trusts are the only way we can support ourselves in retirement. If the government approves The Marshall Savings Plan it will at least give many of us a chance of financial freedom instead of personal bankruptcy.

(8) Toronto, Ontario: I am asking Mr.Flaherty to implement the MSP FOR INCOME TRUSTS.The MSP will provide the tax revenues that the Gov.badly needs and be beneficial to seniors who do not have a pension.This is a win win plan that Mr.Flaherty should introduce with his 2010 budget.

(9) Sorel-Tracy, Québec: Bonjour,
Est-ce possible que vous regardiez cette solution avec intérêt ?
Mes REER ont fondus et en plus je suis en train de perdre mes producteursde revenus aux mains des investisseurs étrangers : Corée, Chine, investisseurs privés et j'en passe.
Un massacre que vous pouvez corriger. Qu'attendez-vous ?

(10) London, Ontario: I support the Marshall Plan and urge the Canadian Government to implement it in the March 2010 Budget.

(11) Ottawa, Ontario: Please.... We need this for our senior years. Thank You

(12) Mount Albert, Ontario: Our sense of betrayal and loss of income has not diminished over time since the Flaherty Halloween massacre of the income trusts.
The Marshall Plan seems like a reasonable way to help with the government's financial fiasco.
Eventually Canadians will get their election.

(13) Waterloo, Ontario: The Marshall Plan is an extremely important, relevant and Democratic plan and, if implemented, will ensure Canadians and Canadian companies have a place in this country in the future. The "profit-sharing" model, a.k.a the Income Trust, will be a positive for all involved, including the government.

(14) TORONTO, Ontario: I lost $50,000 in the "Halloween massacre". My RRIF "pension plan" was gutted. I have no employment based pensions, so have to rely on my investments to augment OAS and CPP.
In my view the SIFT tax is a destructive blunder, not only for investors but for the economy, in particular the oil-patch. Worst of all Mr Harper had promised not to tamper with trusts.
Sincerely, xxx xxx (Formerly a strong Tory Supporter).

(15) Calgary, Alberta: The monthly pay income trusts provide the majority of my anual retirement income, as provided through my lifetime RIF. Taxing trusts at 30% plus the +40% normal income tax means that governments are to receive more than 60% of the trusts income. This double tax amounts to government confiscation of its citizens wealth, and needs the attention of all governments. Alberta in particular should be fighting Ottawa for the continuation of tax exempt status for oil and gas trusts, a financing vehicle used extensively by junior explorers.

(16) Waterloo, Ontario: Canadians need Income Trusts as an investment choice. There is no honest or reliable return on capital by any other investment. Most retirees do not have pensions and when one considers the "Baby Boom" generation, there's going to be a disastrous decline in the standard of living as they retire. This will negatively affect the economy beyond all belief.
As GDP falls, so will government tax revenue. The Marshall Plan is all the "stimulus" that is required and it costs nothing. Wow! Who can't get their head around that?

(17) Toronto, Ontario: Income trusts enabled me as a senior without a full pension to look forward to a future. Without them the future looks highly questionable. The government's own outside consultants stated their was no tax leakage (I pay tax at the personal rate).The PricewaterhouseCoopers study on income trusts confirmed this and also showed that IT's were better than the corporate model for enterprise. A deputy minister of finance stated his puzzlement at the increase in tax revenue from interest in personal accounts immediately prior to the announcement of the "tax fairness plan".Distributions from income trusts are classified as interest income.

It is therefore obvious that the government was prohibiting indirectly by taxation as there would be double taxation at the personal rate of trust distributions held in an RRSP.(appox.60%)

The effect of the plan was to kill income trusts and no earmarking of revenue was indicated. Therefore taxation was not the goverment’s aim. To destroy an investment class is a first in Canadian history I believe and an unwarranted interference in the marketplace.
It is obvious that the government was seriously misled by some vocal consultants who did not study the matter in a serious fashion. The government acted contrary to it's 2006 election promise and contrary to the interest of the public and of the government as it turns out.

The Marshall Plan would correct this error.

(18) Beaconsfield, Quebec: "Please” implement the Marshall Savings Plan solution

While I am sure the Tax Fairness program had some logic behind it and that taxing corporate profits equally could be construed as fair, the fact of the matter is that it has been an acceptable corporate structure for many years, and in recent years has become an important part of millions of retirees' income stream.

After previous Liberal government waffling and subsequent Tory,campaign pledge not to change this structure, many more were attracted to the stable yield offered by the trusts They are now is serious financial difficulties.

Now that retirement income in general has become a high profile issue, the Marshall Plan would appear to help address part of this issue, and keep the trustees as tax payers rather than a tax burden on the economy.

I personally know Davis Marshall, author of the proposal, & I know he is really hurting from the Tax Fairness Legislation, as we all are , but him more so.

I sincerely hope you will do the right thing and support this innovative initiative.

(19) Calgary, Alberta: Could you please take the time, while parliament is prorogued,to review the Marshall Plan and its intent to impact the considerable defecit your party is dumping on Canadian taxpayers both present and future.

(20) Calgary, Alberta: Here is a plan to rectify a gross inequity. I urge you to implement it.

Income trust fix: the Marshall Plan - Diane Francis, The National Post
http://tinyurl.com/dianefrancis

(21) Abbotsford, BC: We hear much talk from federal politicians about their concern for Canadian pensions and Canadian retirement income. Talk is cheap.

I urge you to take concrete steps to ensure Canadians have a decent retirement free from financial worry. This plan can help the government meet it's tax targets and help Canadian retirees meet their financial needs.

Here is what Diane Francis the editor of the Financial Post says about "the Marshall Savings Plan"

Diane Francis, The National Post:

http://tinyurl.com/dianefrancis

Thank you

(22) Port Alberni, BC: I ask that you please consider the marshal savings plan which will help me to recoupe some of my lost savings because of flahertys ignorant unfounded policy of taxing income trusts held in rrsp’s. yours truly.

(23) Williams Lake, BC: "Please implement the Marshall Savings Plan solution"

I am one of the many Canadian Taxpayers who will not have a pension upon retirement. The Income Trust structure was the ideal investment for me/us. The income provided from the trusts would give us the income we need. The taxes that the companies were not paying, were being paid by the unit holders (at a higher rate than what the corporations would pay).

I feel that the attack on Income Trusts was a total "knee jerk" reaction and was not thought out. It has taken away the income source for both the investors as well as the taxes paid to government. It has set up a situation for "foriegn hands" and "private pension funds" to grab OUR companies and NOT PAY ANY TAXES to our government. This will create a huge tax loss that will need to be made up by ALL Canadians.

I have been hearing more of The Marshall Savings Plan and believe this would be a win win situation for all Canadians as well as the government.

As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget.
Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

Thank you

(24) Peterborough, Ontario: Please implement the Marshall Savings Plan solution

I was one of those investors severely gored by the brutal Harper-Flaherty 2006 attack on the income trust sector. Through the Finance Committee Hearings you learned that the justification for the attack was fraudulent. There was no tax leakage. Reversing Flaherty\'s demented legislation would be the best course of action for Canada and Canadians. Faced with overwhelming proof that there was no tax leakage, the government ignored the facts and stumbled blindly forward. Clearly, they cared not a whit for our retirees, our resources, and for those businesses which had been doomed simply for adopting a legal and legitimate business structure. Shame on you!

It was clear that I could get no recourse from the governing Conservatives and their NDP henchmen. I turned to the Liberals who promised to reverse the devastating legislation in the interests of Canadians sacrificed by the Harper Government. At last, some hope.

I spoke at the Finance Committee Hearings. I attended news conferences. I was interviewed for the press, radio, and TV. I attended rallies. I contributed as much as allowed to the party. I organized volunteers and staffed a party office prior to elections. I worked every day of the campaign for our local candidate. I joined the local party executive.

What have you done?

With eyes and ears tightly clenched, Steve and Jack have continued to ignore the evidence and pretend that gutting retirees savings and selling off our resources on the cheap is somehow good for Canada. What can one hope for from such self-interested blindness?

After originally promising to reverse the destructive legislation the Liberals seem to have lost their voices. Who has spoken out about the plight of the majority of seniors who have to fund their own retirements? Who has pounded desks over the sell-out of our resources at bargain prices to off-shore national oil companies? Who has pointed out the basic unfairness of allowing professionals and pension plans to benefit from the trust structure while ordinary Canadians are excluded from the cozy club? Why are Liberals not screaming blue-murder every day about how huge corporations and foreign energy companies have benefited at the expense of seniors least able to defend their own interests?

Do any of you in your plush offices on Parliament Hill care. I expected no better from Steve and Jack. They have made their beds and sold their souls. I had hoped for a lot more from Iggy and his team. They are the ones I had expected to push this issue daily until even the corporate-dominated media couldn\'t ignore it any more. What have I heard? Silence. Silence while seniors try to survive in times of record low interst rates. Silence while our country is raped of its resources. Silence while real tax leakage saps the government\'s powers to pay off mushrooming debt amid obscene deficits. Are all of you \"JUST VISITING\"?

Since none of you have the gumption to do the right thing for your country, the people have to take it into their own hands. Here is the product. In the Marshall Savings Plan you have been handed a pre-packaged solution. The work has been done. All you have to do is implement it. You don\'t even have to admit your past errors (as if any of you are capable of that).

It is time for you to do the right thing for your nation and your people. That\'s what we hired you for. All of you. Swallow your pride, get past your childish games, and adopt a policy which will help both people and government. Why else are you there?

(25) Calgary, Alberta: The double taxation of i.t. distributions withdrawn from my RRIF will materially affect the monthly income I receive as a retiree ie: the money that buys my food and shelter.

(26) Etobicoke,, Ontario: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget.

As many learned students of the matter have written critics of the tax policy that are much more comprehensive and erudite that I could hope to craft, I will simply say:

The Marshall Savings Plan will correct Jim Flaherty's income trust policy fiasco.

Not that he deserves to be cleaned up after!

(27) Osoyoos, B.C.: Please implement the well thought out Marshall Plan to help correct the disastrous results of the Harper and Flaherty not thought out plan of the Halloween massacre of Oct.31,2006.

(28) Toronto, Ontraio: Harper and Flaherty concocted lies about tax leakage to justify the taxation of income trusts, something they promised they\'d never do. A policy that was designed in the interest of the big lifecos whose whose indexed annuity products were in jeopardy because of the retail availability of a simple high yielding vehicle like an income trust.

The taxation of income trust wiped out $35bn of Canadian\'s savings and created a tidal wave of trust takeovers by foreign investors who will never pay dime one of tax here. So now our tax base has diminshed, our natutral resources have been sold to foreigners and Canadian seniors have been denied a comfortable retirement. It\'s the trifecta of government incompetence and self interest.

The Conservatives and NDP were complicit in crafting this demented policy and the Liberals have done nothing, other than a bit of jawboning, to have it reversed. The political elite in this country enjoys deluxe pension plans with full indexing so why would they give a damn about the plight of the 75% of Canadians that don\'t enjoy pensions other than the OAS, which isn\'t enough to feed a dog?

Thanks to the ingenuity of some Canadians a solution called the Marshall Plan has emerged that will restore some of the value that investors lost, allow the authors of the taxation policy to save some face (not that they deserve to, but you have to treat them like chidren, so it\'s important), provides seniors with a high yielding investment vehicle (that is fully taxable) and is accretive to tax revenue. Could we please just put these horrendous policy mistakes behind us, implement gthe Marshall Plan and move on? let the politicos do something positive for their constiuents rather than just play politics at our expense.

(29) Ottawa, Ontario: As an example of the total bias and unfairness of the SIFT (Flaherty's Tax Unfairness Plan), we invested in Teranet at the IPO. We felt the business was clearly viable (a monopoly), it had good cash flow, and proposed to provide a good cash income and return on our investment. After 3 or so years of investment, we were very happy with our investment. We retired and paid taxes on those cash distributions from our LIFs and RRIFs.

Then the SIFT proposal provided a cut-out for large pension plans so they would NOT pay the SIFT tax, even though small investors would. Funny how those same pension plans cried like babies when the Liberals even thought about taxing income trusts but NOT excempting them. IT prices depressed and OMERS took over Teranet, even though we did not want to sell. A few years later, Teranet is doing fine and OMERS is NOT paying tax on those distributions. We however are not doing fine. Bad investing - hardly. Bad decision making by Flaherty - definitely. Fix the problem, drop the SIFT and give us back our company!

(30) Huntsville, Ontario: I agree ,,,after losing 35% of retirement value,,,

(31) Pickering, Ontario: please consider the impact that previous changes have had on retired people

(32) London, Ontario: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution

(33) Calgary, Alberta: Restore a level playing field between the 75% of Canadians without pensions (RRSPs) and the 25% of Canadians with pensions

(34) Calgary, Alberta: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(35) Calgary, Alberta: I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(36) Calgary, Alberta: Please accept the Marshall Savings Plan in the next Budget. This will allow Jim Flaherty to save face from the Harper Conservatives' Income Trust fiasco.

(37) High Prairie, Alberta: Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians

Halt the continued rash of takeovers of vulnerable income trusts (eg. State-owned Abu Dhabi Energy acquiring Prime West etc

(38) Richmond Hill, Ontario: Please implement the "Marshall Savings Plan solution". Frankly, I'm totally disgusted at the Conservative Government's deceit ~ robbing retirees of their lifetime savings! I'm particularly disgusted with the country's Prime Minister and Finance Minister, both of whom misled the people, told lies, and gave the profession of "politics" a very BAD NAME!

(39) Chatham, Ontario: Let's turn this lie into a positive.

(40) Halifax, Nova Scotia: am in favour of the proposed change (see below) as it will help those in or near retirement solve their greatest issue, which is to provide an income for their retirement.
There is no good reason why this should not be strongly considered as it is in the best interest of the largest segment of our population, the Baby Boomers. It is time to do the right thing!!
Thanks for your time!!

(41) Dartmouth, Nova Scotia: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(42) Calgary, Alberta: "Please implement the Marshall Savings Plan solution"

Please allow me and other investors like me who do not have a pension plan to realize our dreams in retirement be allowed to invest our life long savings in RRSP's in income trust or a similar vehicle and not face the discrimination of double taxation that the new icome tax rules impose on us.

(43) Mississauga, Ontario: implementing the Marshall plan for income trusts will get the Conservatives my trust back !

(44) Haliburton, Ontario: Please adopt the Marshall Plan to eliminate double taxation of my income trusts in my retirement income fund.

(45) Calgary, Alberta: You have to do something to preserve the millions of dollars invested in Income Trusts by ordinary Canadians. It is a travesty that you incorrectly assumed that there was tax revenue missing and now you've decided it double tax us.

What happened to Canadian industry being owned by Canadians? I remember when that was a strong policy of our federal government; now you set up Canadian companies to be vulnerable to take-over and then you allow the take-over to be done by foreign companies.

Shake your heads; present this good idea as if it was your own and climb out of this hole with as little embarrassment as possible.

(46) Mississauga, Ontario: Please implement the Marshall Savings Plan solution.
It's the fairest way to help both ordinary Canadians & the Government.

Thank you.

(47) Burlington, Ontario: The income trust fiasco has already robbed Canada of tax revenue as foreign companies buy our income trust with borrowed money tax-free and tax-exempt pension plans also pile on, not to mention the poor investors who hold these trusts in registered plans and will be double taxed. You can partially correct the fiasco by implementing the Marshall Plan for registered owners of these trusts. Please do this in your 2010 budget. It's not too late to make some amends for your mistake.

(48) St. John's, NL: Minister Flaherty's announcement on income trusts and the market demise of 2008 have completed decimated my retirement portfolio. Perhaps some of it can be restored if the Marshall Plan is adopted.

(49) North Vancouver, BC: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(50) Markham, Ontario: Save Income Trusts. Horrible double taxation of trusts in RRSP's will devastate 75% who do not have pensions. This is the single worst atrocity ever placed on Canadians. A horrific betrayal.

We will never forget nor forgive.

(51) Oakville. Ontario: I worked hard all my life and saved for retirement with my 1st job some 45 years ago. I never expected to relay on any social programs as I intended to be fully self sufficient.

Due to unexpected changes in Income Trusts, I have lost a considerable amount of my retirement funds as well as my income.

Please implement the Marshall Savings Plan solution.

(52) Stouffville, Ontario: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(53) Langley, BC: I am happy to pay tax on my trust income once but please, not twice!

(54) Calgary, Alberta: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(55) Bradford, Ontario: Finance minister Flaherty's income trust screw up cost me over $40,000.00 in losses. I demand to be reimbursed by your government. Since when is it OK to pass laws that cost investors' billions in losses?

(56) Brampton, Ontario: Resolve Jim Flaherty s income trust policy fiasco

(57) Kelowna, BC: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(58) Ottawa, Ontario: As a retiree this is critical to my financial well being.

(59) Calgary, Alberta: Please implement the Marshall Savings Plan solution. It's the right thing to do.

(60) Elora, Ontario: Please implement the Marshall Savings Plan solution.

(61) Milford Bay, Ontario: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(62) Calgary, Alberta: I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(63) Calgary, Alberta: It is getting increasing difficult to have faith in a government who is constantly making bad decisions.

(64) Scarborough, Ontario: I have reviewed the "Marshall Plan" and think it to be an excellent way to avoid the double taxation of income trusts held in RRSPs while providing immediate tax gains for the government.

This looks like a win-win plan for those of us that have been hurt so badly by the introduction of a withholding tax on income trusts since these investments are held in our RRSPs and RRIFs.

It means that income trusts can remain as a viable option for seniors to invest their savings to obtain decent investment returns, and for businesses to be able to raise money at a reasonable cost.

Please give the "Marshall Plan" due consideration for inclusion in the 2010 budget.

(65) Strathmore, Alberta: No more espousing of conservative party talking points.

Time for real thinking, consultation and doing the right thing by our unresponsive MP's

(66) Calgary, Alberta: I endorse the Marshall Savings Plan as a measure to save Canadians retirement savings. My accounts have not recovered from the Oct 31, 2006 decision and probably never will.

(67) Thornhill, Ontario: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(68) Ottawa, Ontario: Mr Flaherty, Mr. Baird & Mr. Harper: PLEASE do the right thing, admit you made a mistake, and implement the "Marshall Plan."
Xxx xxx Constituent of Mr. Baird

(69) Calgary, Alberta: PLEASE IMPLEMENT THE MARSHALL SAVINGS PLAN SOLUTION. Thank you.

(70) Le Perrot, QC: Resolve Jim Flaherty s income trust policy fiasco Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians

(71) Peterborough, Ontario: I must commend the authors and promoters of the Marshall Plan. It is an excellent vehicle for truly levelling the the taxation field with respect to RRSP's and seniors retirement plans versus other public plans. Since it has been suggested at a time when there appears to be widespread concern amongst our elected officials re pensions, I sincerely hope the Marshall Plan can be adopted prior to next year's Income Trust Tax comes in to affect. Such an adoption will go a long way in ensuring seniors will be able to maintain there standard of living as well as restoring faith in our political system.

(72) Maple Ridge, BC: Mr Harper: I'm not usually one to hold a grudge but I'm still angry and devastated from our losses from the income trust fiasco you and Mr Flaherty created.
Here's your opportunity to try and give some relief to the situation. Do the right thing and adopt the Marshall savings plan.

(73) Calgary, Alberta: My wife and I are retired with no private pension income. We rely on our RRSP's for income and had invested heavily in income trusts while relying on Mr. Harper's assurance that their tax treatment would not be changed. The Halloween surprise resulted in very significant losses in our savings accounts and we have no idea what the changes scheduled for next year will do to our ability to continue to finance our retirement. Please give the proposed plan your careful consideration.

(74) Thamesville, Ontario: Please implement the Marshall Plan

(75) St. John's, NL: Don't ever, ever, ever trust any promise made by this Conservative government, and I mean EVER.

(76) Oshawa, Ontario: Dear Mr.Flaherty

"Please implement the Marshall Savings Plan solution"

As a concerned Canadian I urge you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

We have worked hard and saved for our retirement, why should we be penalized for our common sense approach to saving for our senior years? We are not asking the Government for handouts, just the right to keep what we have saved in a fair and equitable way. Yours truly,

(77) Keremeos, British Columbia: As retired 77 and 78 year old Canadians who had Mom & Pop business (in Canada) with NO pension income .... our portfolio of income trust units gave us a respetable and dignified retirement income, with a huge tax payable each year ..... Now, our income has been reduced by 35% and the portfolio values are still a long way from thier previous values .... several Trusts, Prime West, Versacold, Harvest Energy, KCP Income Fund and others have been taken over by foreign companies ........ reverse the lies and give us back our dignity ..... Thank you,

(78) Winnipeg, MB: This may be a way for those of us so badly hurt by the 06 mess to recoup some of what we lost. To our government, "please do the right thing and give this a try. So many of our retirements have been damaged, and in some cases destroyed, that we need something ingenious like this to get us back on track."

(79) Vancouver, B.C.: The betrayal in 2006 converted this long time conservative into a reluctant liberal. Enough said.

(80) Edmonton, Alberta: The Marshall Savings Plan will: Resolve Jim Flaherty s income trust policy fiasco Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians

(81) Vernon, BC: This makes too much sense to ignore. If the Government of Canada truly wants to hear from and listen to Canadians then here is the chance. The Income trust debacle has cost us and many Canadians far too much.

(82) Langley: BC: READ THIS YOU LYING BASTARDS: Income trust fix: the Marshall Plan - Diane Francis, The National Post http://tinyurl.com/dianefrancis

(83) Mississauga, Ontario: Please implement the Marshall Savings Plan Solution.

As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

I am a retired senior who lost money when Jim Flaherty made his October "Halloween" announcements regarding income trusts. I don't have the opportunity to create new income at my age and I was counting on a continued stream of income from the income trusts that I own. I also don't have a private pension other than CPP and OAS . I am counting on income trusts to give me peace of mind and a comfortable (not excessive) lifestyle.

Please restore a level playing field between the 75% of Canadians without pensions (RRSPs) and the 25% of Canadians with pensions . Thank you very much.

(84) Sechelt, British Columbia: As a concerned Canadian citizen who was looking to income trusts for retirement income and who invested quite heavily in them based on the false election promises of our current government and subsequently lost the ability to take retirement as planned, I ask you to ensure that the "Marshall Plan” for trusts" is implemented in 2010. For those of us who must find our own way to financial stability as we move into retirement it is critical that we have an income vehicle that we can rely on and that encourages Canadians to save and invest in the businesses of our great nation. Also important is the preservation of those businesses as Canadian entities that we can be proud to support. Thank you

(85) Kirkland, Quebec: Please consider this seriously in your next budget.

(86) Victoria, BC: Please amend the RRSP treatment of income trusts. It is a disaster for me and many others. IN addition to our regular savings, savings made over 45 years so as not to be a burden on Canada, the inocme trust changes have reduced out ability to survive as pensioners -- without pensions!. Yours sincerely,

(87) Dollard-des-Ormeaux, QC: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(88) Calgary, Alberta: The original idea behind Income Trusts, and its approval by taxation authorities, was to give the ordinary Canadian the same tax advantage as enjoyed by pension plans run for institutions. I am NOT such a pension plan member but think I should have the same right as those people who are! I believe that the Government should preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians.

I appreciate that there were problems in too many companies converting to trusts. But, the 'fix' should have looked far beyond the measures invoked by the same people who promised that trusts were safe if they were elected to government. Something else should have been possible. As it is, I am left in a position where others among my neighbours will enjoy a tax advantage because their pension plan can invest in things I cannot.

Please help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living. Otherwise, the same long memories that recall the hated NEP will turn against the political party that has done harm to so many individual Canadians. I just don't think enough was done to look at alternatives and bad counsel was followed.

(89) Parksville, BC: How the original "promise" in the election campaign can be broken has soured my historic Conservative support. Particularly when it does not seem to be proven whether tax dollars were gained or lost by the change in Income Trust rules.

(90) Toronto, Ontario: The income trust rule changes were bad policy directed at a "non-existing" problem. The unintended consequences have been costly to investors (particularly seniors) and the government revenue stream. The ideal solution would be to recind the income trust rule changes. If that's not politically possible, implement the Marshall Plan.

(91) Toronto, Ontario: Despite the fact that the Prime Minister assured Canadian in December 2005 that the Conservatives would not touch the income stream of all Canadians and Seniors in particular by Taxing Income Trusts, we know what happened with Mr. Flaherty's Halloween Massacre of October 31, 2006. Canadians of all stripes lost a total of 31 Billion in Value of their assets. This was unprecedented. And, the government has failed to disclose their argument that Income Trusts caused tax leakage. This too is false. It is time to come clean and "RIGHT the wrong". Admit your folly and rectify the situation.

(92) Québec City, Québec: Honestly, I think this cause is just and that the government must act and fix this serious and unjust situation.

(93) Burlington, Ontario: RRSP in a trust should not be taxed in this manner...we will lose enough money as it is with the new Tax on Trust accounts.

(94) Rockwood, ON: Please do something to mitigate the effect of this unfair and punitive tax measure on those of us who tried to lessen our retirement burden on the government of Canada. You have profoundly affected our financial planning for our retirment in a negative way!!!

(95) Drayton Valley, Alberta: Please implement the Marshall Savings Plan solution to Canada’s deficit crisis and pension crisis

(96) Abbotsford, BC: Restore our investment. I'm a senior that depended on income from my investments. I did not WANT GOVERNMENT HELP

(97) Calgary, Alberta: JUST DO IT..

(98) Winnipeg, Manitoba: Implement the Marshall Savings Plan. Fix the mess you have created. Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians

(99) Castlegar, B.C.: I wish to see the government implement the Marshall Plan as a way of resolving the Income Trust problem.

(100) Calgary, Alberta: I have read great things about the Marshall Savings Plan Proposal.

As an investor and an employee of an oil and gas income trust, I have already suffered disproportionate investment losses, all thanks to the Conservatives failure to live up to a public promise. It's time to recognize that mistakes were made and find ways to alleviate the losses suffered by so many Canadians.

Currently, I remain disgusted by our government. I see no remorse by our Finance Minister nor our Prime Minister for the damage done. What we witness is continued arrogance that exceeds anything previously exhibited by our elected officials.

As someone who has lost in excess of $70,000 of borrowed investment money, I do not want to hear how no one suffered permanent damage from Flaherty's killing of investment trusts. This is a blatant lie - but what's one more after the original biggie.

Further, I am nearing the end of my employment cycle. There is every possibility that I will never be able to recoup all the losses prior to my retirement. That will leave me hanging off of the "government tit" until the end of my days. The one blessing - I was not already retired and losing capital - that happened to many.

The proposed plan provides an avenue to mitigate some of the worst excesses of the proposed income trust tax. I recommend you look seriously at the plan. It won't guarantee my vote during the next election, but it might keep me from again actively supporting the opposition party in my neighbourhood.

In closing, this Conservative government has single handedly cost me more than all prior governments during my lifetime. It's not a record you should be proud to hold.

I look forward to someone finally trying fix the largest single blunder ever made by a governing Canadian Parliament. Regards,

101) St-Pierre-Broughton, Quebec: Now is your opportunity to help the 75% of Canadians without pensions to preserve their means to a decent retirement income and standard of living.

(102) COALDALE, ALBERTA: Please consider these changes before all of our income trusts are swallowed up by pension funds and foreign hedge funds, neither of which pay taxes

(103) London, ON: It's not to late to remedy the stupid decision made by the Finance Minister. What's wrong with admitting you were wrong? I have voted Conservative in the last five elections believing that you were a reasonable alternative to the Liberals. Your breaking of your promise regarding Income Trusts shattered my confidence in your commitment to the wellbeing of all Canadians. Please rescind your decision to tax these essential retirement income modalities.

(104) Hamilton, Ontario: The Marshall Plan should be implemented ASAP to help undo some of the tremendous damage done by the broken promise to leave income trusts intact.

(105) Notre Dame de L'ile Perrot, Quebec I call on you to ensure that the Marshall Plan is implemented in the March 2010 Budget

Preserve income trusts as a essential profit sharing plan for all Canadians

Help Canadians that have on rrsp income and stop the take over of Canadian companies and Canadians natural resources.

Promote saving and investments in Canada for Canadians by Canadians

(106) Kleinburg, Ontario: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(107) Vernon, B.C.: The difference in my income from the change in income trusts has been considerable as well as my 'nest egg" which will hopefully take care of me until the end. The value of my trust company shares took a big "hit" at the time. My plan has always been to have sufficient funds to look after myself and that plan was working up to the point of the ruling of the trusts. Well now the government can fill the gap and take care of me with tax money

(108) Sault Ste. Marie, ON: To write yet another comment on the injustice perpetrated upon Income Trust holders (especially those of us who chose with assurances from the Con. Party of Canada of the safety of trusts in respect to taxation status)for purposes of retirement planning would prove one more lost voice in an increasingly growing crowd.

Rather, the comment should address the general untrustworthiness of this Min. of Finance, and THIS PM who stole votes with what turned out to be an empty promise. In reneging on that promise the M of Finance managed to destroy many well planned RRSPs and RRIFs (and so the retirement plans of many thousands of Canadians), while giving many offshore investors a very jaundiced view of the Canadian investment scene where policies appear to change on a whim.

It seems a sad comment that we continue to vote for this Party, which punishes its retirees with this sort of fiscal trickery, only because the alternative is even more unpalatable, and seemingly lacking in direction.

I feel like I'm in an abusive relationship, where "Its easier to deal with the devil I know, than the one I don't"!

(109) Salisbury, New Brunswick: My retirement incomme plan was devistated because of the changes that were made with regards to Income Trust. In addition my net worth was greatly eroded overnight. Please consider the Marshall Plan as a viable solution.

(110) Rocky Mountain House, Alberta: You guys got it all wrong the first time around when Jim Flaherty was masquerading as a finance minister. So now is the time to set the record and the playing on level again.

(111) West Vancouver, BC: Do not tax Income Trusts tax only those that receive the income when they receive it. If you are concerned about loss of tax to forein holders then make the income trusts eligible only for Canadians[foreigners can not own}.

(112) Pincourt, Quebec: I would like to know why you continue to insist that there is tax leakage on Income Trusts? Why did you black out most of the report? Would you accept my income tax returns this way?

Why should I trust you ever again when you did an about face on your commitment not to tax Income Trusts? Don't you realize that you will eventually tax the proceeds from my RRSP? Why do you now want to double tax me?

What you have done is grossly unfair to ALL Canadian taxpayers who, unlike you, have no defined pension plans.

(113) Crabtree, QC: I was waiting for two years now to vote again against the Conservative Party. The Flaherty mess will be devastating for my retirement income. But if the Marshall Plan is implemented I will reconsider my vote.

(114) Shanty Bay: Nobody complained about a 7% GST. Reducing it, made some political sense initially, but was plainly a dumb move.

What is so wrong with being taxed on your spending? Strike one!

Harper lied about not touching Income Trusts and many people that were counting on Income Trusts for their retirement lost a lot of money as a result of Flaherty's Halloween "joke". My family lost at least $75,000 plus a reduction in monthly distributions as a result. Strike two!
Here appears to be an opportunity to somewhat correct the Income Trust Debacle. Do something soon, otherwise it will be strike three for me (currently still a contributing Conservative). Thank you,

(115) Halifax, NS: Please fix this mess.

(116) Calgary, Alberta: Please implement the Marshall Savings Plan solution!!!

Ever since the Income Trust fiasco I have had no respect or trust towards Stephen Harper and his Conservative Government. This was handled so poorly and without proper research and knowledge. The costs to Canadians far outweigh the gains. It is criminal that the government has continued to hide the true facts from Canadians!!! And to think Harper in an economist!!! Time to TAKE RESPONSIBILITY and make some proper choices. Do what is RIGHT! This is not about your EGO's. Time to get them in check!

(117) Montreal, Quebec: I urgently implore you to correct the serious problem of double taxation of income trust distributions received in RRSP's. It's a simple matter of fairness

(118) Regina, SK: Please do right and make amends for your broken election promise regarding income trusts.

The Marshall Plan is the most straight forward and sensible way of accomplishing this.

Income Trusts are still the number one hot topic issue and will not go away until reparations are made. Thanks,

(119) Mississauga, Ontario: This will help Canadians without pensions and make it fair with the Canadians who have pensions. It will also promote savings and more investment in Canada by Canadians. Please make this right! Thanks

(120) Elliot Lake, Ontario: Please implement the Marshall Savings Plan solution

(121) Carleton Place, ON: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(122) Mississauga, Ont.: While all of the suggestions I have put forward to the Finance Minister and my local MP have fallen on deaf-ears, I believe The Marshall Plan suggestions also go at least part way towards recovering the substantial losses I have suffered to my retirement income due to the Income Trust legislation.The suggestion(s) warrants your full consideration, and implementation which will at least assist in restoring my, and thousands of Other's, retirement income.

(123) London, Ontario: All Canadians should be treated equally under the Law. Preferential treatment should not be given to the wealthy and members of the Public Sector.

(124) Prince Albert, Sask: The this income trust fiasco personally cost us $80,000 in a matter of days from which we can never recover. Income trust were the main source of our income after retirement and the stupid implymentation of the the tax has cost us many nights of lost sleep and continues to do so.

(125) PENTICTON, BRITRISH COLUMBIA: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution

(126) Calgary, AB: Do not tax Income Trust unit holders twice to the tune of 62%. Thanks again.

(127) Baysville, Ontario: If you implement this plan I will consider voting for your party. If you do not take some action to correct the "income trust situation" you will never get my vote.

(128) Charlottetown, PEI: Please implement Marshall Savings Plan Solution

Here is the answer to all the unforeseen problems which have been created by the taxing proposal for income trusts. it eliminates the unfair and unacceptable double taxation applied to income trusts which should be given every advantage possible. It is well known that Canadians are not well prepared for retirement, why should those who are attempting to provide for their retirement be double taxed as is the present case.
Please give careful consideration to this Marshall Savings Plan Solution.

(129) Oakville, Ontario: I hope that the government will accept this new plan for income trusts. Small investors/pensioners like myself have been/will be hurt if nothing is done. This new plan looks like a win-win situation for both us beleagured tax payers and the government. I am conservative by nature but feel that Jim Flaherty and the conservative government have betrayed me. I know the government won't back down because governments never do even when they know they are wrong, but at least it would be honorable to implement this compromise.

(130) Toronto, Ontario: PLEASE IMPLEMENT THE MARSHALL SAVINGs PLAN. As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(131) Comox, B.C.: The taxes imposed on Income Trusts have eroded my RRSP savings and my non registered savings by $200,000. I followed all the rules, listened to govt. advice, professional brokers advice, and worked for 40 years in Canada. I feel that the Federal Govt. has let me down along with tens of thousands of other retired people in Canada. Us retired people helped make Canada a great nation, but we have been poorly dealt with by our governments, especially the federal government, and especally the Conservative Party under Harper. I have no confidence in the Harper Govt. and especially no confidence in Flaherty. Do you think I could vote for this party? It`s getting very difficult in Canada for retired business people especially, to find any satisfaction in voting at all.I sincerely feel that the interests of the people of Canada over the past 3 or 4 decades have not been satisfactorily represented by their federal governments. Part of this problem I feel is not only caused by the division of language and cultures, but also by geographical divisions.

(132) Calgary, AB: Either adopt the Marshall Plan or reinstate Income Trusts.
These broken promises will not be swept under the carpet.
A recent CBC survey puts income trusts way out in front as the number one issue at 1796 votes for and 15 votes against.
Why won't you listen to the voters?

(133) Nanaimo, BC: I have been infuriated for nearly four years as a result of the October 2006 income trust fiasco .The frustration is compounded by the fact that Stephen Harper promised us
( on record) that this would never happen on his watch .Everyone ,except Canadian seniors that have income trusts in their portfolios, get ofsetting tax breaks to eliminate the double taxation .
Can you imagine the uproar if the 30% of Canadians that have private or government pensions had their pensions reduced by a like amount . the country would probably come to a standstil .
The Marshall plan is brilliant ----do it .

(134) Ottawa, ON: I support the proposed Marshall Plan. I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(135) Cochrane, Alberta: As a retired person who operated my own business the Income Trusts were a major part of my investment plan and, in turn, retirement income. After the announcemnt of the Flaherty Income Trust Policy I felt as if I had been hit in the solar plexus. To help restore the pensions of myself and millions of others I urge the Government to adopt the Marshall Savings Plan

(136) Saanichton, B.C.: I am still appalled by Mr. Harper's and Mr. Flaherty's decision to break a pre-election promise not to tax income trusts.

I am a retired senior with no pension (other than CPP), and must 'make my own pension'. I bought into an income trust in the mid-'90's, with the full encouragement of the Government of Canada, who then changed the rules in an ill thought out move to solve a 'tax leakage' problem that easily could have been dealt with without destroying my income trust portfolio, while still keeping the 'foreign takeover' specialists from moving Canadian assets out of the reach of the Canadian tax collection system.

I fully support the Marshall Savings Plan to avoid a ridiculous double taxation of income trust assets held in registered accounts. I will fully support any political candidate or party that attempts to correct the income trust problem created by the first Harper minority government. I will fully support any legitimate attempt to compensate in some way those individual Canadian income trust holders - Canadian taxpayers who were effectively betrayed by the Government of Canada, the Harper government.

(137) West Kelowna, BC: please implement the Marshall Saving plan solution to canadas defecit and pension crisis

(138) Surrey, BC: Please implement the Marshall Savings Plan Solution.

As a semi-retired person, 70% of my income currently comes from the distributions of income trusts. If these stop, I will become a Wallmart Greeter. If they continue, I will NOT collect old age supplement. In fact, part of my Pension may be clawed back. That's OK, at least I will have an income to enjoy my retirement years.

If all of the trusts convert to corporations, and distributions have been cut (one of my trusts converted, and I received 1/4th the amount as a dividend as a distribution) then I will be a far greater burden to the Canadian Pension system.

Thanks for considering this brilliant plan, the Marshall Savings Plan.

(139) Toronto, ON: The Flaherty policy was not only grossly unfair to people like me, it was based on a grossly nonsensical theory (tax leakage). I can think of only one reason why the Harper Government has not already reconsidered it - the prospect of Jim Flaherty getting egg on his face.

(140) Port Clements, BC: You need to implement this plan as you have already destroyed hundreds of thousands of dollars of my retirement plan by the 2006 income trust rules. Now is the time to make up for those bad decisions.

(141) Calgary, AB: I and many of my friends are very concerned that as retirees without formal pension plans we will have no alternative for holding our life savings in investments that are designed to produce a steady stream of income.

I am not saying that all investments should have this objective, but it is reasonable to have a portion of the equity market fall into this category, so that all Canadians are given access to income and security in their retirement years.

Regular Canadians want to be on a level playing field with pensioners with formal pension plans or with private equity that can structure ownership in a way to be tax effective. Pension plans do not have to pay tax on earnings, they are taxed in the hands of the pensioners when they receive payment. Why should income trusts be treated any differently.

Companies should be able to choose whether their operation is a stable cash generating business for the benefit of their shareholders or whether they are a growth company. This decision should not be forced on them by the government and government should not be able to tax companies and citizens both on the earnings from operations and from withdrawals from RRSPs.

The Marshal Plan seems to be a reasonable approach in the near term to address these issues. Please consider this or something with a similar result for the sake of your retired constituents who require investment income.

(142) North Saanich, BC: please help to fix the fiasco caused by your income trust legislation

(143) Port Clements, BC: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(144) Vancouver, BC: The announcement of the change in tax policy on income trusts has cost me over $150,000 because I believed the Prime Minister's promise that he would not do so. The Marshall Plan would provide a chance for correcting this egregious lie.

(145) Fall River, NS: I'm a retiree that still have investment in Income Trust, since I don't have revenues from a pension plan I though that this was a great way to supplement my regular revenues such as CPP & OAS.

Please included the Marshall Plan into the next Federal Budget, what a brilliant idea it is! That would make the Income Trust sustainnable to both the Goverment and the investors,and prevent whatever Income Trusts that are still operating to either convert to corporation or be taken over by foreigners. Let keep our companies to Canadian!

Respectfully submitted.

(146) Edmonton, AB: Canadians want to invest in Canada, but the double-taxation of RRSPs via the Flaherty tax on income trusts and in other ways impedes Canadians from investing in Canada to save for their future.

(147) Antigonish, Nova Scotia: The Conservative Party of Canada owes it to the retirees of our country to correct the iniquities of the Income Trust tax issue and the Marshal Plan seems like an excellent way to go about it. This should be adopted immediately .

(148) Calgary, Alberta: I strongly urge the federal government to take the steps necessary to minimize the tax bite as it relates to income trusts and RRSPs. Canadians have a difficult enough time trying to attain financial security in their old age. Most of do not have the gold plated pensions that government workers, large corporate employees, and MPs have.

(149) Victoria, BC: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(150) White Rock, BC: Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians.

(151) Victoria, BC: The Income Trust controversy need not have happened.
The concerns re:tax leakage (which did not exist) could have been eliminated simply by grandfathering existing trusts for ten years and denying additional monies from being adding to the existing ones.

Since that opportunity has been lost the "Marshal Savings Plan" is a solution that should not be lost.

I call upon M.P.'s of all political parties to support this potential solution which would be a godsend to many senior and retired citizens and relieve the stress that has been placed on them.
It would, in the long run, also contribute to economic activity in Canada.

(152) Crossfield, Alberta: What happened to the "accountability" Harper stressed when he wanted us to cast our vote for him? He stipulated that he would not touch the income trusts and we believed him.

This man has cost me thousands of dollars but at least I have the small satisfaction of knowing that I didn't vote for him in the first place.

Perhaps he could actually read the Marshal Plan before making a decision unlike what he and his so called "Finance Department" did for the income trust plan.

(153) Delta, British Columbia: We elect MP to represent our interests at the national level - NOT to ignore our interests in favour of policies that only benefit financial institutions and traders.
For many Canadians, especially retirees, income trusts have provided a reliable supplemental income.

The Income Trusts model also promoted Canadian ownership of corporation operating in Canada. Why is this Conservative government in such a such a rush to sell any profitable company to foreign owned interests? Witness what has happen to the mining industry and is only beginning in the oil patch. The widely held ownership of trust units would effectively stopped these harmful takeover.

(154) Markham, Ontario: As a Canadian, who is also a senior, and whose RRSP helps support my standard of living, I call upon you to ensure the Marshall Plan is implemented in the upcoming budget. On many occasions I have heard Finance Minister Flaherty talk about tax fairness and so I am assuming he would be concerned about the senior population in Canada who hold income trusts in their RRSP accounts. Double taxation would seem to be unfair, illegal and immoral.

(155) Edmonton, Alberta: I would be very surprised if the smug Mr. Flaherty would admit that anyone could come up with a better idea than he. Best of luck to all.

(156) Calgary, Alberta: Please implement the Marshall Savings Plan solution.

In this economic downturn we can ill afford to destroy a sector of the economy. I suggest it would be to the benefit of all Canadians if the Conservative party took a step back from their ill informed decision to eliminate the Trusts.

(157) Dartmouth, Nova Scotia: As with many Canadians, I was holding (and continue to hold) a number of Income Trusts and believed the Conservatives when they told us that they would NOT increase taxes on Income Trusts as they campaigned for seats in Government.

This latest proposal will not repeal the damage that has been done to so many of us retirees, but would at least provide a measure of relief for those of us still holding Income Trusts in our RRSP.

I highly recommend the implementation of the attached proposal. As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget

(158) Saskatoon, Sask: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(159) Cobble Hill, BC: My wife and I planned on our RRSP's to fund our retirement. Our RRSP investments were selected from the energy and pipeline income trusts, which have provided us with a decent return on our capital for over 12 years now. And which we were counting on to continue for the duration of our retirement. Never mind the $330,000 loss of capital we suffered as a result of the Harper/Flaherty Tax Fairness Plan announcement on October 31, 2006. Our major concern now is being to retain income trusts and the return they generate for our RRSP/RRIF portfolio. The Marshall Plan will do that.

(160) Markham, Ontario: My RRSP supports my cost of living on a regular basis. Also, I hold Income Trusts which pay the much needed dividends. The Marshall Plan is needed to protect my income from double taxation. I call upon you to support the Marshall plan in the upcoming 2010 Budget. Don't disappoint us again.

(161) Dorchester, Ontario: To Whom It May Concern

Senior citizens, who are most vulnerable due to a reduced income stream, were punished severely by the federal Conservatives strategy to tax income trusts after indicating otherwise during the election campaign

I believe that not only should ITs held in RRSPs be taxed more fairly, but that income distributions from ITs held outside RRSPs should be taxed at a reduced rate if held by seniors to compensate for the huge capital loss received on their investments

Politicians should operate under the same rules as taxpayers and have their gold plated entitlements eliminated. They would then have a clearer picture of how the citizenry has to manage retirement funds

(162) Calgary, Alberta: I could paste a lot of boiler-plate here but I'm sure you're familiar with it all. You know it's all true, whether you want to admit it or not.
This is your chance to save (some) face. Do it. You can't stay away from the voters forever.

(163) Kelowna, BC: Mr. Flahert's betrayal in October , 2006 has cost my wife and I thousands of dollars that we can ill afford. Although the Marshall Plan will not recoup them all it will surely help us out a lot.

Please give this plan some serious thought!

(164) Barrie, Ontario: enough with the taxes....

(165) Edmonton, Alberta: I agree with The Marshall Savings Plan and should be incorporated, also should consider a rebate of the money [approximately $35 billion] taken away from investors due to the faulty government imposition on Income Trusts on October/2006.

(166) Edmonton, Alberta: I agree with The Marshall Savings Plan and should be incorporated, also should consider a rebate of the money [approximately $35 billion] taken away from investors due to the faulty government imposition on Income Trusts on October/2006.

(167) Heidelberg, Ontario: A terrible injustice has been committed with the broken promise by the Prime Minister. He promised unequivocally, to leave trusts intact because of their importance to small investors and retirees. Then without proper research or consultation, Harper broke his promise and stole 35 billion investment dollars from Canadians just like me.

(168) Winnipeg, Manitoba: I concur with this proposal. Regards

(169) Kelowna, BC: Mr. Flahert's betrayal in October , 2006 has cost my husband and I lost thousands of dollars that we can ill afford. Although the Marshall Plan will not recoup them all it will surely help us out a lot.

Please give this plan some serious thought! Thank-you,

(170) Winnipeg, MB: I would ask that you adopt this plan into the upcoming budget. We were lied to by our Prime Minister. The double tax on our RRSP savings ia an onerous burden to me, a retiree. This plan would be a win win for all.
Thank you....

(171) Calgary, Alberta: Please implement the Marshall Savings Plan,

S.O.S.

(172) Niagara-on-the-Lake, Ontario: Stop the double taxation of Trusts held within RRSP accounts!!!

(173) Burnaby, BC: I am a retired person and depend on additional income.

(174) BLAIRMORE, ALBERTA: PLEASE GIVE THIS SERIOUS CONSIDERATION. IT IS VERY IMPORTANT.

(175) Thunder Bay, Ontario: I lost over $200,000.00 as a result of Mr. Flaherty and Mr. Harper, decision to tax income trusts after telling the public before the election that they would not tax income trusts. (LIE) As a retired person I will never consider voting conservative until this issue is rectified. This has not only affected my wife’s and my income, but it limits those extras you want to spend on your grand children.To stimulate an economy it is best to put cash in the hands of the public especially seniors. I find that we have less available cash for the numerous charities we once supported.

(176) Kelowna: B.C.: Please ,please give us old timers a break with the Unit Trusts.
They constitute 95% of my retirement income.
I was self employed.

(177) Westbank, B.C.: Here is your one last chance to make ammends for the injustice done to income trust investors.

Adopt the Marshall Plan.

(178) Merritt, B.C.: As a self employed person with no pension plan I invested in income trusts. I bought them over the years with the hope of retiring with a small income only to have the rules changed with out notice .This was almost unbelievable. Now would be a good time to correct this and save face before it`s to late, then maybe we can still stay retired with a livable income rather than depending on a government supplement.

(179) Nanaimo, British Columbia: It is important for me, as well as other investors, especially in my age group, ie Boomer, that our pension plans not be damaged by over taxation. There are far too many older Canadians with no company employee or government employee pension plan. It is vitally important to implement a plan that will, at the very least, avoid punitive taxation which will inevitably reduce our standard of living in retirement. We just want to be treated fairly.

(180) Harrison, BC: For those of us that saved and invested and believed in the government's commitments, the income trust fiasco is devastating! The Conservatives must reverse course or find something like the Marshall Plan to prevent stable retirements from regressing into a total fiscal mess for individual retirees.

(181) Edmonton, AB: By chopping off my planned means of income, as well as redirecting the plans of our Canadian income trusts, I also like so many retirees, have had to invest in riskier equities to try to maintain my retirement income.
If the Conservatives did not want proliferation of trusts, the simplest and logical solution would have been a grandfathering clause.
I strongly feel the Government has no business in affecting the equities market as they did.
Consider how our friends to our south can almost manipulate the markets at will.
I had been a conservative supporter, but am no longer.

I AM IN FAVOUR OF IMPLEMENTING THE MARSHALL SAVINGS PLAN IN THE UPCOMING 2010 FEDERAL BUDGET

(182) Calgary, Alberta: Having tried to provide for my retirement, I invested a large proportion of my moderate RSP in income trust units and have seen a substantial lost in value, not by poor investment but by the Government decision to change the rules.

It is the fact that there is no such loss and that, for whatever reason, incorrect assumptions have been provided to support the rule changes.

I feel that an admission of error should be made or at least the suggested "Marshall savings plan" be introduced to mitigate my losses and help me in my retirement.

(183) Kelowna, B.C.: I have not forgotton or will I ever forget the flip flop by Harper regarding the trust mess.

(184) Butner Federal Correctional Complex, Butner, NC: Jim: Your tax leakage argument is a fraud and you know it is a fraud in the very same way that I ran a ponzi scheme.

Your fraud of investors losing $35 billion based on that tax leakage lie is the same of my defrauding people of abut $60 billion in their retirement savings

I sure wished that I had a "Marshall Plan" to save me from this 150 year prison sentence.

My advice: Take the Marshall Plan and pretend it was your idea from the outset before Ignatieff claims all the credit for fixing your gawd-awful mess.

Telling that little white lie, about the Marshall Plan being your idea, will be a cake walk for you, after all you were the guy who "almost" got away with the tax leakage lie. Emphasis on "almost".

Your partner in crime,

Bernie Madoff

(185) Havelock, On: Mr. Flaherty, I want my $16000 loss returned to my RRSP

(186) Oakville, Ontario: #### Please implement the Marshall Savings Plan solution to Canada’s deficit crisis and pension crisis ####

(187) Etobicoke, ON Please do the right thing and restore the rights of ordinary Canadians to own income trusts. Do not allow your party and its policies to be held hostage by insurance companies and foreign private equity.

FYI, the baby boomers represent a ticking time bomb set to explode upon the Canada Pension Plan. By killing income trusts, the Conservative Party, the Finance Dept and the beneficiaries of this policy, namely the big Lifeco's and foreign private equity, have removed a source of independent, taxable income and made the coming situation far worse.

I personally am sick and tired of foreign companies taking over profitable Canadian companies. I am also sick and tired of the way that despite the attempt through restricted political donations to curtail undue influence on government policy by the wealthy few, that pernicious influence continues to operate. That's not democratic.

The Marshall Plan is a win-win solution: for ordinary Canadians, for seniors, and for Revenue Canada. Again, I urge you to do the right thing. My vote, whenever the next election is held, is going to depend on your party's leadership and integrity in this matter.

(188) Kingston, Ontario: Please implement the Marshall Savings Plan solution to Canada’s deficit crisis and pension crisis.

It is time to stop screwing Semi retireds and Pensioners. Time for the lies from Harper and Flathead to stop

(189) Courtenay, B.C.: My wife and I have lost over $ 100,000.00 dollars of hard earned savings that we thought would be there for our future retirement.

We have saved since I was 22 and my wife was 18.

Where has our retirement nestegg gone ??

Now our retirement date has been moved substantially and not because of a bad decision on our part, but because of the hypocrisy of our elected Federal Party.

Whenever we think and talk about how Government policy has effected us, we feel sick to our stomach.

I'm sure that the Federal Government does not give TWO HOOTS about us, but it should.
We elected you and I pray not again.

The Electorate deserves better !

Accept the fact that your policy change was wrong and immoral and reverse this bad situation and RETURN OUR MONEY !

(190) Kelowna, B.C.: Please implement the Marshall Savings Plan solution to Canadas deficit crisis and pension crisis and help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living

(191) Edmonton, Alberta: Please help the seniors maintain their RRIF accounts holding income trusts, we don'twant to be a burden on society, help us to maintain our independence.

(192) St. Andrews, NB: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

As a retired person I was more than disappointed with Jim Flatery's decision on income trusts. As a result, I lost approximately 30% of my entire retirement income. I am now really feeling the effects of this and could be living a dramatically different life that I am now. I hope that Jim Flatery, due to future policy changes, feels the same effects in his retirement years – although I doubt it – politicians always come out ahead.

(193) Sidney, BC: The devastating effect of the "about face" on tax regarding the Income Trusts on Canadians and their retirement could be offset somewhat by considering the Marshall plan.

If their is anyone in the Harper Government with any empathy AT ALL, please consider this option. Yours,

(194) Calgary, Alberta: Please implement the Marshall plan to reverse an error that shouldn't have been made. People relied on the previous assurances that Income Trusts would not be touched.

(195) Vernon, BC: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(196) North York, Ontario: I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution

(197) Lutes Mtn., New Brunswick: I've worked hard for a lifetime and saved to provide for my own retirement. I've been comfortable with the risk of the market as it could mostly be understood. The one risk that proved to be not understandable was the cavalier attitude of my own government that wiped out a big part of my self built pension. If this proposed plan will help to right a terrible wrong then I’m for it.

(198) Montreal, Quebec: Please stop the erosion of our retirement funds by double taxing income trust distributions in my RRSP. Taxation must reflect basic fairness. Thank you

(199) Cochrane, AB: The Marshall Savings Plan has merit and should form a part of the upcoming budget. It is a way for the government to raise taxes while benefiting most Canadians. In addition it will improve access to capital for existing income trusts which leads to increased investment and JOBS!

If you're looking for a win-win-win, this is it!

(200) Laval (Montreal), Québec: The RRSP/RRIF is a waste of money. I am 72, and after the law implemented by our...'beloved finance minister', every single penny that I am forced to remove from it is used to pay taxes. So far, I could not use a single dollar to support myself. On top of that, I cannot claim the huge capital losses that our.. 'BFM' caused me with is income trusts fiasco. If I was going to do it again I would not contribute a penny to my RRSP. To pay much much more later ???? Ridicolous!!! Better to keep the money under a mattress rather than be destroyed, in one day, by our... Financial experts'.

(201) Courtenay, B.C.: Please, for the greater good of this country and for the people that it is supposed to serve, I call on the Prime Minister and the Conservative Government to please support the Marshall Plan. It is a win-win for everyone and is one sure way to get much needed monies back into the coffers of the state to be shared amongst its people for improved health care, education, retirement income for the 70% of the people who have no company or government pension plan, as well as it will lessen the burden on hardworking Canadians who will not be subject to higher taxation levels caused by the careless act of taxing income trusts and will level the playing field when compared to private and public pension plans and private equity groups that pay no income-tax on these investment vehicles. Please do the right thing for this country and if you truly cared for our country and her people you would enact this plan immediately. Thank you.

(202) Montreal, QC: Flaherty has put me in the dog house. I'll remember.

(203) Kanata, ON: I still believe that the cancellation of the Trust Units was STUPID. It was based on bad arithmetic and WORSE, it has the unintended consequence that the companies are being bought by foreigners as they revert

I therefore still believe you should admit your mistake and cancel the regulation

In the meantime I would like to add my name in support of the Marshall savings plan

(204) Sarnia, Ontario: Please implement the Marshall Savings Plan and resolve Jim Flaherty's income trust fiasco!

(205) Toronto, ON: The proposed plan is a highly imaginative and effective means of assisting seniors who were unfairly penalized by the 2006 decision while at the same time helping to increase tax revenues at the Federal and Provincial levels. It will also serve to reduce expenditures by decreasing the amount of Old Age Security payments to which many seniors would be entitled and possibly reduce medical costs associated with the stress of trying to make ends meet. I strongly encourage the early implementation of such a plan which should form part of the next Federal budget at least.

(206) Calgary, Alberta: I support the Marshall Plan or a similar initiative to help protect what is left of my retirement savings. I took a large and needless hit in October 2006, and my portfolio has not recovered and probably never will.

(207) Bragg Creek, AB: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(208) Creston, British Columbia: Please note that my husband and I feel this is a very important issue and with today’s economy and the fact that other countries are taking over some of our companies (one of the ones we held was recently taken over by a Korean company) Mr. Harper needs to do something so we are sending our comments as noted below.

(209) Breton, AB: The Marshall Plan implemented would help to reverse the effects of very bad financial policies and help Harper and Flaherty regain the trust and votes of thousands of Canadians devastated by the flip-flop. Implementing a policy to help mitigate the damage would demonstrate some understanding of and concern for what the Harper flip-flop did to income trust investors who took him at his pre-election word.

(210) Richmond, B.C.: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(211) Calgary, Alberta: Help Canadians without pensions and preserve the means to a decent retirement income and standard of living. Promote saving and investment in Canada by Canadians

(212) Aylmer, Ontario: This is one way to atone for the broken promise!

(213) London, Ontario: Please implement the Marshall Savings Plan in the March budget. The loss of distributions to me from the trusts I hold has been very significant. As a 73-year old senior I counted on the income from my trusts to help give me a comfortable income. The provisions of the Plan are reasonable and I urge you to give them your earnest attention. There is ample evidence the changes to the trusts have been harmful as well as with ramifications not considered by the government.

(214) Calgary, AB: This is an intelligent win/win bill. Pass it ASAP or there will be no trusts left.

(215) West Kelowna, B.C: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget.

(216) Edmonton, Alberta: By adopting this \"Marshall Plan\" the government would be saving us retirees from falling into the trap of the new financial engineering that Wall & Bay Street will come up with to give retirees the high yield investments that we desperately need to have a comfortable retirement and stay ahead of inflation. Unfortunately the new financial engineering will expose us to new and higher risk than that associated with income trusts. With today\'s low interest rates all investors looking for higher returns will be forced into these new financial engineering schemes in their quest for sufficient yield to beat inflation and pay the bills.

Income trusts served a useful and valid purpose in the overall Canadian economy especially the resource trusts. Dividends from corporations (even with the tax advantage) are too small to provide the level of income that is needed in retirement from limited investment funds. Corporations always prefer to do share buy backs and/or acquisitions with their spare cash flow rather than pay dividends. The non dividend ways of using cash flow are more rewarding or exciting for corporate executives but are less rewarding/more risky for investors. The forced distributions of the income trust structure made their executives more disciplined and less inclined to take risks since most of the cash flow went to investors. This would make for a boring life for the executives but a much more rewarding experience for investors.

The coporate structure is better suited to high growth and higher risk businesses that promise to reward their investors with capital gains resulting from growth and expansion through acquisitions. There is a place for both structures in the Canadian economy so I believe that it would benefit Canada to continue to allow income trusts to exist via the \"Marshall Plan\" than to tax them into riskier corporations.

(217) New Dundee, Ontario: It is time that the Conservative Party of Canada recognizes the fact that the income trust tax proposals make no economic sense and that they penalize Canadian investors. As a result the proposal should be reconsidered. The Halloween trick played upon us devastated my retirement portfolio and is still effecting it today. The fact that I voted for the Conservative Party partially because of the promise to leave income trusts alone only adds insult to my financial injury. It is time that the Conservative Party makes changes to this proposal. Listen to your supporters and the common sense proposals that have been submitted to you over the years. The people of Canada that have to look after their own financial well being need as many investment options as possible to diversify their portfolios. Canadian investment options presently available are very limited (low income GIC's, high cost mutual funds, low yield CSB's and a stock market that scares most individuals). Consequently, the Bernie Madoffs of this world flourish. Swallow your pride, admit that the proposals are not appropriate and make the necessary changes.

(218) Parksville, B.C.: As a concerned Canadian I call on you to ensure the Marshall savings plan is implemented in the upcoming 2010 budget. Diane Francis ( Editor, Financial Post) considers the Marshall Savings Plan a " Brilliant "solution. Aside from that this would relieve some of the distrust I have for the Conservative government ( I used to be a conservative supporter )ever since they lied and said they would not tax the income trusts. I have a very strong dislike for any politician that comes on T.V., says one thing, then immediately goes back on his/her word once elected. I hope you will try to right the terrible wrong you did by imposing a tax on this income. Your Truly

(219) North Bay, ON: This is a logical solution that should appeal to legislators who place their constituent's retirement planning as a high priority. Many Canadians, like myself, do not benefit from Company pension plans and rely on income-producing opportunities to provide a savings plan that will lead to a secure future.

(220) Kelowna, British Columbia: Last chance for me to ever support the conservatives again.

(221) Calgary, Alberta: We need our income trusts back. My income has been significantly reduced since the changes were announced.

(222) Victoria, BC: In its forms justifying the dividend tax credit, the CRA speaks of the need for an "integrated" approach to taxation. Income trusts represented the most thoroughly integrated system we could possibly have, and yet they were trashed, undoubtedly because of the strength of the corporation lobby. Trusts' fate reflects poorly not only on Mr. Flaherty and the current government but on Mr. Goodale and the former Liberal government and on Mr. Carney and the Bank of Canada. Their thinking has led not only to the sad plight of trusts but, I am convinced, to the underperforming condition of the economy.

(223) WINNIPEG, MANITOBA: VERY UPSET THAT GOVT CAN LOSE TAX DOLLARS WITH THEIR TFSA ACCTS FOR THE YOUNG WHILE CLAIMING THEY LOSE TOO MUCH ON THE INCOME TRUSTS AND STICKING IT TO THE OLDER INVESTORS AND PENSIONERS-------

(224) Red Deer, Alberta: WE lost $200,000 in the Halloween ambush. I demand that the gov't adopt a mechanism to allow my one man independent pension--ie, my RRSP to have the same advantages that large private and public pensions have. Low paying bonds are inadequate and corporations do not allow me to benefit from the dividend tax credit. I do not see why a system such as the Marshall plan or a variation where corps issue dual class flow throught shares-if held in registered accounts are not subject to tax until withdrawn.

Income splitting for pensioners is a great idea, but doesn't apply to me!!! Why not??? I don't have a "classic pension". Income splitting only helps 25% of Canadians--public employees and large corporation employees. Don't you know this?? Get with the program and try helping the majority of Canadians.

I demand tax fairness. The income trust model is ideal for RRSP's--allowed to grow tax free similar to returns that large pensions can get.

THX

(225) Calgary, Alberta: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(226) Stop the Income Trust Bleeding: Adopt the Marshall Savings Plan
To err is human. To recalibrate divine.

By W. T. Stanbury (Professor Emeritus, UBC)

Introduction
· Due to the scale and scope of their activities, when governments makes errors, the consequences can be devastating--even generational. The Harper government’s 31.5% tax on income trusts announced on Oct.31, 2006 caused a permanent loss of $35 billion in investment value of Canadians’ savings. This figure does not include the unintended consequences, the most notable of which is the ongoing takeovers risk facing the 220 targeted public trusts by foreigners, and going private transactions by public sector pension plans, as their means to avoid the tax. The result was a significant loss of tax revenue for the federal and provincial governments. In summary terms, the income trust tax has been a public policy train wreck for the Harper Government (see Stanbury, The Hill Times, Sept.22,2008).
· Ironically, the tax on trusts was never intended to generate much (or any?) revenue. Its clear (unspoken) purpose was to eliminate a particular type of business organization favoured by investors. Why? It appears that secret lobbying by a small number of leaders of regular business corporations, fearful of the growing competition from the favoured trust model, along with vague (and highly questionable) arguments about the adverse effect of trusts on investment and growth, were influential with the Minister of Finance and the PM. The Government’s arguments were based on “tax leakage” and “fairness.” Both arguments were soon proven to be false. They fueled the intense, innovative and prolonged campaign to change the tax by the Canadian Association of Income Trust Investors/Taxpayers (see Stanbury,The Hill Times, Feb.23,2009).

A Surgical Salvage Operation
· Today’s challenge is how to contain future adverse economic effects of the error made on Oct.31,2006. This is possible (and practicable) for two reasons: The first is an extraordinary example of “distributed intelligence” in the form of the Marshall Savings Plan (MSP) proposed by David and Lorraine Marshall, retirees and residents of Cornwall Ontario, to their MP. The second is that, ironically, the transition period built into the tax can now be used to move the remaining 169 affected trusts into the MSP because the tax does not start until Ja.1,2011.
· The influential columnist Diane Francis has called the MSP “a brilliant idea” (National Post,Jan.14,2010). It has gathered other reputable supporters (see IncomeTrustResearch.com, Jan.22,2010).
· For a Government closely identified with a policy decision gone bad, changes are very had to make. However, the Marshall Plan does not involve recanting the 31.5% tax and delivers a simple and elegant solution. Thus the MSP permits the Government to “save face.” That is of great significance (see Stanbury, The Hill Times, Dec.21,2009).
· Whether the PM and the Finance Minister put the MSP into the coming Mar.4,2010 Budget depends on their political savvy. Adopting the MSP could lance the large boil of justified anger caused by the 31.5% tax on income trusts.
· There are other major benefits which I now outline.

Benefits of the MSP
· The MSP will help the 75% of Canadians without a defined benefit pension plan to restore a valuable retirement income vehicle
· The MSP will create net tax revenue estimated at $6.0 billion per year based on income trust distributions of $ 16 billion per year from the remaining 169 income trusts taxed at an average rate of 38% (according to the Department of Finance). This is the equivalent of an increase in the GST of 0.75%.
· The MSP will eliminate future takeovers of the affected 169 income trusts by foreign corporations, foreign state-owned entities and foreign private equity. This halts further erosion of Canada’s tax base.
· It will restore a level playing field between the 75% of Canadians who rely on RRSPs/RRIFs for their retirement income with the 25% of Canadians with defined benefit pensions (e.g., OTPP). The latter are able to own income trusts (privately) and avoid the 31.5% tax on income trust distribution, whereas RRSPs can not.
· The MSP will promote saving and investment and direct retirement savings into real investment in the Canadian economy..

Conclusion: The MSP provides the Harper Government with am elegant and savvy means of containing the adverse consequences of their serious mistake in October 2006.It should be implemented in the coming Budget and have the support of the Liberals.

(227) Edmonton, Alberta: Thanks for decimating my meager r.s.p. pension plan and continuing to enhance the gold plated public service pension plans and lining the pockets of the ceo's all the insurance companies. How about some "Income Plus" ????
The Marshall Plan would go a long way in restoring some dignity and income to 3 million trust unit holders who were so brutally raped that dark Halloween night

(228) Toronto, Ontario: I was a Canadian Citizen invested in Canadian oil and gas assets. I was earning a substantial second income of $1,500 a month and paying income tax on that money. That was until October 31st, 2006. The next day I watched as the value of my holdings suddenly dropped. Over the next few weeks I lost $26,000 from my accounts. It unbelievable the Government of Canada would affect the stock market in such a disastrous way, unannounced and opposite to their election promises. I also lost income over three years in the range of $54,000. My financial plans for the future were gone. Whichever party is in power, it's a long overdue necessity to correct the massive income trust fiasco.

(229) Edmonton, Alberta: I agree whole heartedly

(230) WEYBURN, SK: This sounds like a great idea, considering how we got conned on the Harper promise it would be a suitable alternative.

(231) TORONTO, ONTARIO: COME ON HARPER TAKE THIS OPPORTUNITY TO TRY AND GET YOURSELF OUT FROM UNDER THIS MESS THAT YOU CREATED BACK IN 2006. PEOPLE STILL MAY NOT FORGIVE YOU BUT IT'S CERTAINLEY WORTH A SHOT.

(232) Hamilton, Ontario: When Stephen Harper promised to never tax income trusts, I trusted his word. I have never felt so betrayed in my life when he broke this promise and in the most cynical manner possible announced the income trust tax on Halloween. Too bad he lied about never taxing income trusts, and then continued to lie about why. The only remedy for correcting this is to go with the Marshall plan.

(233) CALGARY, AB: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(234) Penticton, B.C.: Please implement the marshall savings plan solution

(235) Vernon, BC: As pensioners with the largest part of our savings in I/C Trusts RRSP's this "Marshall Plan" will certainly be a step in the right direction. Our province is implementing the "Harmonizing of the PST & GST Tax" this year which is another expense to take care of. Thank you in advance for your kind consideration.

(236) North Bay, Ontario: The bungling and lack of research by the government on the Income Trust debacle has been well documented....they screwed up bigtime. However, for a politician to say he's screwed up, is to say he's incompetent. When that happens, it'll be a first.

(237) Dundas, Ontario: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(238) Sarnia, Ontario: I am one of the 75% without a pension. My husband and I were self-employed for 40 years, now retired. We counted on the revenue from our investments in the trust market to augment our OAS, which we have just begun to collect.We were hit hard with Jim Flaherty's move, and, we trusted Stephen Harper when he said he would not touch income trusts.
I would really like some repayment of our 40% loss. The TFSA is not a solution, nothing but a band-aid. Hopefully something will be done to help the growing senior population.

(239) Leduc, Alberta: As one who has lost a lot of money through the devaluation and take over of Income Trusts, I urge you to adopt this plan to help those with Income Trusts in their RRSP.

(240) Calgary, Alberta: "Please implement the Marshall Savings Plan solutions"

I am 100% behind The Marshall Plan. Flaherty's actions played considerable havoc on our investments. We are among those who do not have a measurable pension so for us the Trusts were and are our major investments. From the very beginning we were more than frustrated with Mr. Flaherty's action.

(241) Delta, British Columbia: I urge you to restore fairness and equity to the income trust debacle created by the Conservatives. The best way for this to happen is for the government to adopt the Marshall Plan in the upcoming federal budget.

I have stopped supporting the Conservative Party in federal elections because of the betrayal by the party on this issue. If you adopt the Marshall Plan I shall again consider voting for the party.

(242) Vernon, BC: I think that it is time that the conservative government started listening to the electorate of Canada and seriously consider including the Marshall Plan in their upcoming budget. This would not only save face for Mr. Harper by showing that he is capable of having a change of heart, and does care about retirees and the small investors whoes nest egg accounts were decimated by his miscalculation.

(243) Vancouver, B.C.: This was a betrayal of our trust, and also a stupid move, due to the "tax leakage" that is now happening by the takeover of the trusts by those that do not pay ANY taxes. This hurt me personally, and I will never forget it!

(244) Cambridge, ON: This tax wrecked my RRSP's and continues to wreak havoc with my retirement savings. Please implement the Marshal Plan for trusts!!!!!

(245) Vancouver, BC: I don't feel income trusts should be taxed twice. Give us a break with our retirement plans-- we are all trying not to be a burden on the government and the people of Canada. We have worked hard for our money and made the best investments we could. And then it was such a shock what Flaherty did -that has really affected our retirement income. Please make the changes. Thanks,

(246) Calgary, Alberta: Please implement the Marshall Savings Plan solution.

We are among the thousands who do not have a government subsidized pension plan. At retirement our savings were almost all in Trusts which we managed at our risk to support ourselves. The thought that the government would renege on its so recent assurance that the Trusts were to continue was not a serious risk. And we lost about one third of our savings almost overnight. And the party of the present government lost long time supporters.
There are very clear advantages to all in modifying your stance. We ask very sincerely that you do the intelligent and compassionate thing.

(247) Toronto, ON: You promised not to tax Income Trusts, and then broke your promise. And in the process, you wreaked havoc on my retirement plans.

Here's a chance to, in some way, redeem yourselves.

Please consider the pain, the unnecessary pain, you have caused, and right this wrong.

Thank you.

(248) Bowmanville, ON: The proper thing to do would be to kill the tax on Income Trusts, however the Marshall Plan is a solution for those of us with Registered Plans. In my case it is a RIF so I will pay tax immediately.

(249) Mississauga, Ontario: This is one of the worst blunders ever made, compounded by the PC's promise not to tamper with income trusts.If we are wrong in our universal condemnation of this ill thought out move---- please present the EVIDENCE!! Unlike the government, I would listen to your arguments; you just don't have any! The people who received these distributions spent the money and paid taxes twice---once as income and again as PST and GST. Nice move to snuff that out!

(250) New Maryland, New Brunswick: The decision to tax income trusts has adversly affected my investment portfolio, both in my RRSP and in my non-registered plans. My investments were, and contiue to be well diversified. I expect to incur risks when investing in the stock market, and I also expect honesty from my governmet. If I cannot believe my government, just who can I believe. I support the Marshall Plan described in the attached urls and urge the government to act accordingly.

As an aside, I reside in a province where the provincial has broken a clear election promise not to sell NB Hydro. While I usually do not support the liberal party in NB. this action insures that they will not get my support in the forseeable future.

In the last federal election, I voted for an obscure candidate who had no chance to win. My gut feelings about most matters tend to be near the center and perhaps a bit to the right of center on economic and financial matters. Consistent with these feelings I have most often voted for the conservative party. Mr Harper's government has caused me to severely question many of my past votes.

(250) Calgary, Alberta: Jack Mintz on tax leakage: "I do want to point out that there is a serious flaw in some analyses especially on the taxation of pension and RRSP accounts. The Department of Finance was not right to treat the impact as zero."

251) West Vancouver, BC: Prime Minister Harper misled Canadian Taxpayers who owned income trust investments. I have lost my trust for him and the conservative government unless he adopts the ``Income Trust Fix-the Marshall plan" or something similar. There is still time.

(252) Mission, BC: There are better ways to fix the income trust issue than to cancel them. Diane Francis of the National Post has come across a better plan than to just cancel them.
Regards

(253) Brentwood Bay, BC: I have been reading of the so called Marshall Plan for income trusts. It seems like a very good idea to me. Better yet would be to rescind the trust tax altogether but I guess once a promise has been broken why go back... But something has to be done and this seems like a good idea plus the government gets to take even more tax to help offset the GST cuts that have triggered the enormous deficit. One poor decision after another. And to think I voted for you lot. Another poor decision.

(254) Santa Monica CA, USA: The reckless abolition of the Canadian Trust investment vehicle not only collapsed the investment source of many of us -- Canadian and US -- it also spoke very poorly of the reputation of Canada as being a country of very high integrity. The abrupt change in the trust was a betrayal of the investment industry and those of us who previously respected it.

Thank you -- I hope this trust and integrity will be restored.

(255) Antigonish, NS: Please bring some sense back in to the income trust issue by instituting the Marshall Plan for income trusts

(256) Okanagan-Coquihalla

Dear Mr. Laxton

Thank you for expressing your concerns about the confusion the Minister of Finance has caused on income trusts.

Income trusts have helped numerous Canadian companies grow and flourish and enabled ordinary Canadians to generate more income for their retirement years. The federal Liberal government's reckless decision last September to cancel advance tax rulings on income trusts caused Canadian businesses to lose billions of dollars in market capitalization and Canadians to lose thousands of dollars of personal savings.

Canadians investing in good faith to save for their retirement deserve certainty, not a government review of how the Liberals can grab more taxes from them.

We know that Canadians draw regularly form their investments to supplement their retirement savings. When the value of their investments drops as a result of government indecisiveness, so does their retirement income. It is time the government stopped penalizing our citizens.

My colleagues and I in the Conservative Party are committed to maintaining income trusts as a valuable savings and investment tool for Canadians.

Thank you again for contacting me,

Yours sincerely,

[signed Stockwell Day]

Stockwell Day, M.P.
Okanagan-Coquihalla
Official Opposition Foreign Affairs Critic

(257) St. Catharines, Ontario: Stephen Harper and Jim Flaherty did initial and substantial damage to Income Trusts with their 2006 Flip-Flop. The "Marshall Plan" recently put forward is a viable option to help offset some of this damage, and hopefully help save what is left.

(258) Victoria, BC: Please re consider your Bad ideas with our Awesome idea's

(259) Toronto, Ontario: From YouTube interview of Seymour Schulich:

"biggest blunder I have seen in 42 years"

"A large pension fund can own a company & not pay any tax on it & you can`t own it in your pension plan?"

"If you are driving the wrong way down a road & if your wife says you are driving the wrong way , are you a good leader if you say I don`t care , I am a strong leader & I will keep driving the wrong way or will I say I am driving the wrong way & I made a mistake & I am going to turn around & make some kind of amendment to this"

"They should have 5% of their net worth pledged , if they go back on their word they should forfeit that money to a charity"

"There should be a penalty if they lie to the electorate just like there is in society for anyone that commits a crime & they did commit a crime"

(260) Saskatoon, Saskatchewan: This is about fairness. When I was in practice as a CA, we often made reference to fairness in our dealings with assessors with CRA. We found the response to the fairness provisions generally positive. The tax on income trusts was unfair, particularly to retirees whose retirement plans were severely depleted by the 2011 tax, forcing them in this year 2010 to do things that otherwise they would not do. Taxpayers lost billions of $ in retirement RRSP"S and RRIF's. This is an opportunity for the government to exhibit fairness by the government of Canada to the Canadian people. Please consider it seriously and act with due diligence!

(261) Calgary, Alberta: At a minimum - our elected officials owe us this. It will take some of the sting out of the painful and unnecessary blow dealt to hard working individuals like me, who have endeavoured to save and invest in order to be financially self sufficient in our twilight years.

(262) Calgary, Alberta: Mr Harper and Mr Flaherty,

As someone who has supported the Conservative ideals since I began voting in 1984, i strongly urge you to take this opportunity to right a wrong. Your broken promises on Income Trusts, damaged me financially, damaged my parents financially, and will impact the legacy I will leave for my children. But more than any monetary pain caused, you for the first time in my life caused me to lose faith in my government. You've created a disillusionment that will likely stay with me as long as I live.

I urge you to take the opportunity that the Marshal proposal represents and salvage something from the this situation. Though I am under no illusion that you will go so far as to admit to the mistakes that were made, I do hope you’ll at least make an effort to repair some of the damage.

With great hope,

(263) Toronto, Ont: your reversal of policy on income trusts has hurt our family terribly, i have worked in the investment community for all my life and always at small firms and i never had the oppotunity to join a retirement plan, so i had to make my own , guess what i chose to believe the Conservative bs and plan my retirement around the income trusts as the low interest rates at the time wernt enough to generate an adequate income to live on.Well i sure am paying for that.MY only hope is for the members of parliament to share their nice gold plated pension with me , And i believe in Santa claus to. Well im 72 years old this year and it looks like im going to apply to Walmart as a greeter so i can keep paying the taxes on my home so my wife and i can keep living here for as long as possible, thanks again Harper you have really made a long time Conservative a Liberal . Not thats a much better choice but i can assure you that they are going to get my vote not you.

(264) Your Name **: Stephen Harper
City **: Ottawa
Province **: Ontario
Email Address: 24@Sussex.com
Phone: !-800-LIE-CONCEAL
Comments **: By: Stephen Harper
National Post
Wednesday, October 26, 2005

On September 19, the Prime Minister acted recklessly when he ordered his Finance Minister, Ralph Goodale, to wade into the income-trust market like a proverbial bull in a china shop. On that day, investors were put on notice that their popular income trusts were going to be targeted by a Liberal government seeking higher tax revenues from companies and investors.

Martin's reckless action has caused uncertainty over the future of income trusts, and so has wiped out billions of dollars in market capitalization from Canadian companies and tens of thousands of dollars from the retirement nest eggs of individual investors. Most notable was the damage done to Canadian seniors who may not have the time to recoup their losses.

One couple e-mailed my party to complain that the uncertainty around income trusts caused by the Liberals' announcement trimmed $30,000 from their retirement portfolio in a single day. Another man wrote to tell us that he had lost 15% from his his portfolio.

Many seniors feel the government is putting their retirement at risk and have let Ottawa know. In a letter to the Finance Minister, the Canadian Association of Retired Persons said, "Seniors are actually enraged, frightened and panicked about potentially losing retirement savings that they count on for the essentials of daily living."

Income trusts are popular with seniors because they provide regular payments that are used by many to cover the costs of groceries, heating bills and medicine. They also provide tax relief from a government that is addicted to taking too much money from their pockets and spending it without care, and very often without meaningful results.

So one must ask, why is the government clamping down on the retirement savings of seniors and investors?

But it gets worse. Instead of immediately moving to assure markets that income trusts are here to stay, the Liberals are justifying their actions in the coldest political terms. As one government member was quoted in the media as saying about income trust investors, "They have no constituency. They don't count politically."

That kind of arrogance cannot go unanswered. There is just no justification for what amounts to a Liberal government attack on investors, and especially on seniors.

The government continues to overtax Canadians and run multi-billion dollar surpluses, yet their first instinct is to attack an investment vehicle that can make the difference between bare survival and a dignified retirement for millions of Canadians.

The government claims that income trusts enjoy an unfair tax advantage over corporate dividends. If they believe this, then the answer is not to shut down a valuable investment vehicle, but to cut the double taxation of dividends. In short, level the playing field and let the market decide between income trusts and dividend-paying companies.

As my party's finance critic, Monte Solberg, says, the success of income trusts represents a rare triumph for investors over the tax man. Let's not be so naive as to assume that the Liberals will do the right thing to protect taxpayers. We'll need to fight hard to keep what we have, and even harder to gain ground.

It's time to stand up to Paul Martin and stop his attack on seniors and investors

(265) Blairmore, AB: I retired in 2005 looking forward to a comfortable, but not opulent lifestyle. I have no private pension, just my savings which were invested for income. With Harper's assurance that he would not touch the nest eggs of seniors, I felt secure.

I had to take part-time employment to try to ensure that my now meager savings would allow me to support myself until the actuaries say I should expect to die.

Please implement the Marshall Plan ... it would make a tremendous difference in my life to be able to enjoy the income from my life's toil without giving the lion's share to the government.

(266) Québec, Québec: Comme 2.5 millions de canadiens, j'ai fait confiance au premier ministre lorsqu'il promettait a tout le pays qu'il ne toucherait pas au fiducie de revenue.Malheureusement il n'a pas tenu sa promesse le soir de l'halloween 2006 Nous avons donc perdu collectivement 35 milliards de capitalisation en quelques semaines. En plus de perdre une excellente source de revenus, la plupart de ces fiducies ont perdu 75% de leur valeur. La conséquence est évidente, je suis presque ruiné... Je n,ai plus confiance en ce gouvernement ni en aucun autre politicien. Je me suis fait flouer par ceux et celles qui normalement devaient me protéger...

(267) Toronto, Ontario: Create a massive new stream of cash tax revenue for the government ($6 Billion per year)

Halt the continued rash of takeovers of vulnerable income trusts

Promote saving and investment in Canada by Canadians

Please remove the double taxation of income trusts inside of RRSP's.

(268) Montreal, Quebec: Please stop the damage caused by your policy on the income trust and implement the Marshall Savings Plan solution.
Thanks,

(269) Kincardine, Ontario: Our "Dear Leader" Stephen Harper, gives a damn about average Canadians. Why he was re-elected after he hammered so many Canadians with the Income Trust Fund execution is hard to understand unless he and his cronies are owned by the people that know no limits to greed and power and wanted the Income Trust Funds killed.
My wife and I lost over $100,000 on our savings and also lost over $900 on monthly income and on top my wife got ill and was hospitalized and needs oxygen to be able to live some kind of normal life. We will have to pay ourselves $389 monthly for oxygen.
OHIP will not pay, because the tests show that she may live to long and cost OHIP too much money (as our Doctor pointed out). I am totally fed up with these selve serving people in Ottawa and do no longer believe they are for the people and take all and every opportunity for photo-ups, rather then look after average Canadians first. Harper is a good manipulator, but not a man that can be trusted or is able to lead this country. I wish we had the Referendum Rights in Canada as we have in my native Switzerland so that we, the people, could change this wrong themselves. I bet neither Jim Flaherty nor Stephen Harper will give a damn what people like me think or how much harm he did to my wife and I.

(270) Burlington, Ontario: Help the 75% of canadians without pensions and preserve the means to a decent retirement income and standard of living.

(271) Mortensen, BC: Resolve Jim Flaherty s income trust policy fiasco

Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians

(272) Winnipeg, Manitoba: Please insure that the Marshall savings plan is implemented as a solution to the Income Trust fiasco. It would help to restore some of the damage done by the Income trust decision and make it more fair for the 75% of Canadians without pensions.

(273) Longueuil, QC: Please implement the Marshall Savings Plan solution

(274) Vernon, BC: The income trust issue has not gone away, the issue of trust has not either.
Do the proper and ethical thing and alleviate seniors' tax burdens.

(275) Parry Sound, ON: This action, this PROMISE, and this FLIP-FLOP of the Income trust decision has been probably the worst case of political dishonesty and foolish political knee-jerk reaction that I have witnessed in my political memory. As we all know, there have been numerous political "scandals" before, but this one is the top "dog". Not only was it dishonesty plus, but it continues to be so harmful to so many loyal and hard working Canadians who aren't blessed with the "Golden Retirement Packages" provided to you politicians by we taxpayers. This is SHAMEFUL, the way it presently stands.

Mr. Harper, Mr. Flaherty I beg you and your assistants to seriously examine this brilliant "Marshall Plan" and take the respectable and necessary action of implementing it in the upcoming March budget. We voters all have excellent memories, particularly with regards to blatent dishonesty. With it, you have made a huge black mark on the minds of many Canadians- but it's still not too late for a revival. We can forgive, but we can't forget!!
Sincerely,

(276) Calgary, Alberta: Please implement the Marshall Savings Plan solution in the 2010 budget.
Thanks.

(277) Mississauga, Ontario: Please adoped the Marshal Plan. We think it is time to help seniors who have lost so much because of Mr. Jim Flahery's medling with income trust fiasco............

(278) Irishtown, NB: Reverse the Income Trusts tax.

(279) Sharon, Ontario: Please, please, please do the sensible and right thing by implementing the proposed Marshall Savings Plan. It is tragic what has happened to Income Trust Companies since that fateful day when our great Countries leaders went back on their word and gutted Income Trusts.

I personally am a humble, simple hardworking Canadian who has no pension except that which I have created for myself. I have never drawn Unemployment Insurance or drawn welfare thank God. I am self employed have paid huge income taxes and maximum unemployment insurance premiums although I could never draw unemployment insurance because of my self employment. I had taken the word of our leaders in Ottawa and invested heavily in Income Trusts only to have my pension gutted on the fateful day in October. I was hurt financially big time and had my faith in our countries leadership rocked big time to say the least.

Please please please save face, save our countries jobs and companies and recover $6,000,000,000.00 a year in taxes that will be paid to U.S.A. and other countries if you do not implement The Marshall Savings Plan.

I would also like to have a little bit of my faith and trust restored in our leaders in Ottawa.

(280) Langley, BC: If a truck driver and his wife can come up with a way out of the income trust mess and Dianne Francis gives her stamp of approval, who in their right mind, but financially inept, politician, wanting to be re-elected, would not support this and get back on the good side of your voters.

(281) Kelowna, B.C.: Please implement the Marshal Plan Savings Solution

(282) Oakville, Ontario: I agree that the Marshall Savings Plan is an excellent solution to a difficult problem.

(283) Calgary, Alberta: Having owned income trusts since 1997 and watching the value of my investments drop due to government inexplicable and unwarranted change in policy (after expressly saying they would not change the policy with respect income trusts) I call upon the Canadian government to review and ensure the "Marshall Savings Plan" is considered and implemented in the upcoming 2010 budget.

(284) Aurora, ON: Comments: I support the Marshall plan. The political party that endorses it will receive my vote next election.

(285) Fort Frances: As Harper advisor Tom Flanagan said, It doesn't have to be the truth, it just has to plausible. In other words, in Conservative minds, it's OK to NOT tell the truth if it SOUNDS like you are telling the truth...it's OK for Conservatives to Lie, Conceal and Fabricate provided it sounds like they are telling the truth. Regarding the highly unfair tax on Income Trust BUSINESSES...this is exactly what the Harper Conservatives did. Fabricated a story that Income Trust BUSINESSES and their owners cause tax leakage. To date they have not shown proof that tax leakage actually exists. But gullible politicians, media and citizens have been duped-blindly believing the Gov't in this matter because the Cons made it SOUND plausible. As a result of this fabrication, and a media unwilling to dig for the truth, everyday Canadians and Seniors have lost $BILLIONS of dollars in investment capital and income.The Harper Conservatives live by the Flanagan mantra, not only regarding Income Trust BUSINESSES but just about everything they touch. Time for them to go before they do any more harm to those who once trusted them. Time for the Marshal Plan.

(286) Stratford, ON: It is my belief that income trusts offered a solution to many of todays economic problems.They were the only investment the little guy could make where his investment income exceded his mortgage interest rate,

Business were rewarded for being efficent instead of being taxed(read fined, handicapped)for showing a profit. Unit holders rewarded the winning companies by buying more of their units thereby enabling them to buy out their weaker sisters, by contrast CRA takes money from the winners and gives it to the loosers to help them stay in business thus fostering medicoracy and incompatence.

Income tax is impractical, business is obligated (forced in order to preserve capital) to make unwise investment decisions to minimize the tax burden (eg buy new machinery when the old is still efficient) just to lower the tax burden and preserve capital thereby increasing their cost of production and decreasing the ability to compete in world markets.A worker owning income trust units is similar to one being self employed, he has every incentive to succceed where one who is just an employee sees how the harder he works the more profit the company earns and gets to keep versus all the profit being paid to the unit holder thereby avoiding the adversarial conflict of them versus us that is so costly for both worker and employer and moal destroying.
Would allow a factory worker the same same as a self employed person is to be rewarded for his or her productivity rather than the amount of time spent on the job resulting in an infinite expansion of production and competativenes over all nations as in hockey.

(287) Uxbridge, ON: I have no company or government pension. Federal government workers and MP's have a rich pension which guarantees a certain payout. I have to make my own retirement income. I was starting to get significant income from income trusts. Your tax changes have destroyed the value of my income trusts. Please implement this Marshall Plan to help me recover some value from my investment.
Yours truly,

(288) Calgary, AB: We think that the Marshall Savings Plan is an excellent idea and should be implemented by the Federal Government to help RRSP holders like ourselves who feel double crossed by Stephen Harper. We have no company pensions and as small business owners (retired) are totally on our own. Because we believed and trusted Stephen Harper we added to our Trust holdings after his assurance that he would not mess with Trusts, and the rest is history.
We also feel strongly that something should be done to help people like us who also hold Trusts in regular non RRSP accounts. We worked and saved for over fourty years only to lose a substantial percentage of our savings as a result of the Trust decision.

(289) Calgary AB: Please implement the Marshall Savings Plan solution

(290) Holden: Please consider doing something about the Income Trusts. I am a recently retired person, who thought I would be ok in retirement because I had saved over the years, and had some of my investments in Income Trusts. It would help my peace of mind if we could still do something about this situation. Thank you

(291) Winnipeg Manitoba: income trust disaster must be fixed...retires depend on this to supplement income and put children through university..married late!!please install marshall plan or better thanks

(292) Victoria BC: The trust debacle was a disaster,go for the Marshall Plan

(293) Winnipeg Manitoba: PRESERVE THE INCOME TRUST INVESTMENT OPTION.OIL AND GAS TRUSTS ENCOURAGE FULL RECOVERY OF LONG TERM RESERVOIRS. SENIORS AND PENSIONS ARE HURT BY LOSS OF INCOME TRUST INVESTMENT OPTION .HIGHYIELD INVESTMENTS NEEDED FOR RETIREMENT INCOME.

(294) Niagara Falls, ON: DON'T FORGET THAT THE GOVERNMENT APPROVED TRUST IN THE FIRST PLACE; PROMISED NOT TO TAX THEM AND THEN CHANGED THE RULES OF THE BALL GAME AFTER THE GAME HAD STARTED.
PROMISING NOT TO TAX TRUST; LED ME TO PURCHASE 10,000 MORE UNITS AND THEN OUR FAMILY NET WORTH FELL BY $ 115,000.OO WHEN THE ANNOUNCEMENT TO TAX TRUST WAS MADE.THE HURT IS FAR REACHING AND WE AS A FAMILY MAY NEVER RECOUP THE LOSSES. PLEASE DO WHAT IS RIGHT AND REVERSE THE DECISION TO TAX TRUSTS.

(295) Vancouver BC: my husband and I think the Marshall plan is a good idea,When Flaherty made his Halloween decission to tamper with the trusts,it played havoc with our monthly income.

(296) Kelowna BC: You are doing good work, we supported you in your bid to gain the Oshawa Whitby Riding but from results of the returns it did not indicate that there is any will of the Majority to corrct the mistake that was made. Mark Carney, Jim Flaherty and our prime minister should be discharged for all of the mistakes that you have enumerated. These people lack the basic economic knowledge that these positions require and they along with Jack Mintz should be discarded. The fact that our prime minister is from Calgary may abate the storm somewhat from the Trusts because of retailation. Thank you.

(297) Comments: Please implement the Marshall Savings Plan solution

(298) Walker, Ontario: Please implement the Marshall Savings plan solution to the deficit crisis and pension crisis in Canada

(299) Vancouver BC: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(300) Drayton Valley: i want my money back

(301) Markham ON: I am in my mid fifties and was advised to invest in energy income trusts in 2003 through my RRSP. From 2003 to halloween of 2006 my investments performed extremely well, providing a significant return that was re-invested in the trusts. As a result of poor advice from the civil service, a distorted report by a renowned economist and a stubborn Minister of Finance, my trust investments tanked. Some of the companies i invested in have been sold to foreign companies who don't pay taxes in canada anyway-no tax "leakage" there-no taxes at all for Canada. I continue to hold others in the hope that they will turn into dividend paying corporations. I have read an summary of the "marshall plan" and would like to express my support for it. thank you

(302) Milford Bay ON: With the current addition to taxation because of the onset of the HST seniors need all the help they can get. The HST increase is going to hit the poorest among us, therefore, enabling seniors to help out the younger members of the family, who are cash-strapped, and perhaps out of a job would go a long way to ensuring social stability in Canada. By the way, are we currently paying the Prime Minister and all our MP's while they are on a 90-day holiday. In private business you wouldn't have a chance to get away with closing the doors, and staying employed. I think the salary for all Cabinet Ministers, MP's,and the PM, as well as civil servants should be put in limbo when Parliament is prorogued. What fools we are. We resent people going on 'strike' yet not a whimper is heard when gov't shuts down. Aside from the fact that nothing is being done for those who are unemplyed, we continue to pay our taxes to a government who is doing nothing.

(303) Invermere: I will not vote for the Conservatives until Mr Jim Flaherty' s income trust policy fiasco is fixed.

(304) Calgary AB: What more need be said on this matter that has not already been said. I thought the conservative goverment could be trusted but apparently not. The next election will tell the tale.

(305) Duncan BC: And take the money creation powers and national debt back from the chartered banks to the Bank of Canada as the Liberals did in 1938!!

(306) Toronto ON: "Please Implement The Marshall Savings Plan Solution" As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(307) Calgary AB: As a retired senior with the majority of my investments in income trusts,as I need the income to exist, I have suffered from your broken promises and now if I am taxed double on my RRSP investments it with be no surprise if in the future I will be looking for government handouts.

(308) Collingwood ON: The Marshall plan is a good one.The Harper government can save face & votes along with some credibility.The negative part would be that Flaherty would come out of this smelling like a rose.

(309) Calgary AB: Time's up, Let's get on with implementing the Marshall Savings Plan...the most reasonable, objective, and all encompassing alternative to date which addresses each/every issue relating to tax leakage boondogle while letting the Government I voted for off the hook. You have to wonder just how the Marshalls came up with a workable solution where the Government(along with the support of the Leighton bunch) failed miserably.

(310) Toronto ON: The combination of your Oct 31 announcement and the recession suffered in 2008/2009 has decimated the retirement plans of many seniors without pensions. Admittedly some recovery occurred in 2009, but to earn the benefit, one had to refrain from selling into the recession and holding on to investments until the present. Fortunately I did some of both, with the result that I took my lumps on some income trusts that had little chance of recovering and I am still holding those that have recovered somewhat. As a consequence my current income and capital base are significantly reduced and if I sell the worthwhile income trusts I continue to hold, I have few choices in which to invest which will preserve whatever income and cash flow that remains. If income trusts were preserved as contemplated by the Marshall Plan, then I would be better off and the country would still receive the income it also needs. Who are you working for anyway?

(311) Edmonton AB: The government should reverse the terridble mistake it made to impose an unjutified tax on income trusts. It is having a devistating effect on seniors incomes.

(312) Calgary AB: I agree with The Marshall Savings Plan and should be incorporated, also should consider a rebate of the money [approximately $35 billion] taken away from investors due to the faulty government imposition on Income Trusts on October/2006.

(313) Summerside PEI: The Marshal plan seems like a great idea. Needs to be incorporated in the 2010 budget.

(314) Nanaimo BC: My wife and I, both retired, consider this plan a viable solution to a very unfair situation. Pls consider it serously...Thank You

(315) London ON: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. I have retired and I hold income trusts in my RRSP account. I feel enraged that RRSP held income trusts will be double taxed. Please help the 75% of Canadians including myself without pensions to preserve the means to a decent retirement income and standard of living. Thank you.

(316) Gabriola BC: This plan would go some distance to repair the huge financial damage done by our governmant against millions of us!

(317) Burlington ON: Do you n ot think that you have hit us enough back 2006 with the promise not to touch income trust which Harper said mid October and 2 wks later you cost me thousands of dollars. I do not have a pension plan and as result, you going to make my life very difficult for me in the next few years to maintain my standard of living The answer seems to me to get rid of the Conservatives for ever.

(318) Crabtree: Please : it's a question of survival!!!!!

(319) Victoria BC: As a Canadian senior who has paid income tax for more than 50 years, I urge the government to rethink its stand on income trusts, and to implement the so-called 'Marshall Savings Plan' in the upcoming 2010 budget. The income trust turn-around was the worst decision ever made by a Canadian government in my lifetime, and that's saying a lot. The stated reason, the tax slippage, was simply not true. I think the decision was made because the government was lobbied by the heads of large corporations, who saw their fiefdoms threatened by the popularity of income trusts. Whatever the reason, it was a bad decision, and something should be done to ameliorate its effects on those Canadians who acted responsibly and saved for their old age.

(320) Sherwood Park: As a result of your government lying about allowing the income trusts to remain, my portfolio has dropped in value by approx $40K. Once conversion is completed I anticipate a very large drop in my retirement income.
Perhaps if in your wisdom you are unable to retain the status quo then this may be a solution that would assist me as well as restoring my faith in your government.

(321) Halifax NS: The sooner we can get the Members of Parliament back in the House and have the Marshall Plan immplemented in the 2010 Budget the better for the Canadian Economy.

(322) Calgary AB: We are appealing to the Harper Government to introduce a new form of retirement savings account in the upcoming 2010 budget that will permit the RSP-held Income Trusts to be moved to a new account and be only taxed once instead of twice as in current pending legislation. Thanks to the Conservative Party our retirement savings were devastated by the Income Trust fiasco which Mr. Harper promised not to implement however as we all know, Mr. Harper went against his word causing a substantial loss to thousands of seniors.

(323) Odessa: It takes a great man to admit a mistake And a greater man to have the courage to rectify that mistake. So Mr Harper & Mr flaherty do you have the courage to make your history great? I'm betting you don't.
As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(324) Calgary AB: Please implement the Marshall Savings Plan solution

(325) Port Perry ON: This is an issue that should have been resolved by Mr Flaherty recinding the the changes that are unfair as they are not "a level playing field" and has resulted in tax leakage and forien ownership. This proposal is an alternative soloution that would be better than nothing. I believe the large pension funds will force Mr Faherty to ignore the Marshall plan. I have no faith in the government I helped to elect.

(326) West Vancouver BC: Please implement the Marshall Savings Plan solution

(327) Sechelt BC: As Seniors neither my wife nor I have extra income to invest in the TFSA, nor indeed the time horizon to take advantage of its tax free benefits. We had prudently been putting money in to RRSP, as neither of us was being feather bedded by union jobs or Government pensions, unlike MP's and others. It seemed prudent to be investing in Income Trusts until Mr. Flaherty jerked the rug out from under our feet to make retirement more of a struggle and to reduce the Government's tax revenue from seniors.

(328) St Catharines ON: The Marshall plan sound sensible, well thought out and a benefit to many. A good action plan for the people of Canada. Do it!!!

(329) Calgary AB: I heartily agree with this plan. GOD only knows how bad THE HALOWEEN fiasco has hurt my income return in our retirement. I have had to start speculating on the market again in hopes of keeping my RRIF withdrawals above the minimum withdrawal level, which for us is now in the 8% area. With the Trust structure we had a chance. Thanks to you people for leading this attempt to return some SANITY to the eyes & ears of those " XXXX " elected morons.

(330) Toronto ON: Hi, i hope teir will be something done about the income trusts such as you suggested.

(331) Burlington ON: As concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in upcoming 2010 budget. It will preserve income trusts as an essential "profit sharing" investment choice for all Canadians.

(332) Burlington ON: I consider that the decision to tax Income Trusts is the worst decision made by the Harper Government to date - bar none! As a retired citizen (due to serious illness) I have no opportunity to go back to work to try to recover any of the money lost directly due to that decision - and of course, it's a double taxation hit at the same time as all of our investments are held in our RRSP accounts! Our decision to invest in Income Trusts was directly due to assurances that the program would not be cancelled or significantly changed given by Stephen Harper and the then Governor of the Bank of Canada (we had been hesitating up to that point simply because there had not been a clear and definite assurance from the Government on the program - once we were given that assurance we proceded to invest a substantial portion of our savings in the vehicle). You can imagine the shock we experienced when the "flip-flop" was announced by the Government! Since that decision by the Government, my wife and I have not voted conservative in any election and will continue to maintain that position (as well as doing everything possible to assist the other parties and cost the conservatives as many votes as possible). We will continue those efforts unless and until we see the conservatives recognize the error and either completely retract the legislation OR at least do something to ameliorate the unbelievable tax hit.

The Marshall Plan addresses the issue quite nicely and yet supports the governments need to raise new tax income in order to help return our budgets to balanced or surplus status as quickly as possible without negatively impacting the economy's recovery. I urge serious consideration of the Marshall program, and rapidly pass the solution into legislation. I believe it represents many solid benefits for Canadian citizens, for the Trusts themselves and for the government; as well as for the conservative party and the possibility of them forming a majority government in the forseeable future. Sincerely

(333) Montreal PQ: It is about time the bad policy on double taxation of income trusts in RRSPs is addressed by the government. This plan does it. Implement it!

(334) Milton ON: I have lost thousands of dollars of retirement funds as a result of this government's approach to penalize all income trusts. I was never told that income trusts were an unwise or illegal investment until Jim Flaherty suddenly made this clear. Why are the existing income trusts considered illegitimate?

(335 ) Dartmouth NS: In the interest of fairness in taxation for seniors I support the Marshall Plan. I worked in finance all my life and was shocked to see the income trust policy change made by the Conservative Government in October 2006. If the Prime Minister truly wants a majority government, then this issue has to be addressed.

(336) Calgary AB: Please implement the Marshall Savings Plan solution; I am a financial advisor and this new tax on trust will and already has hurt many of my senior clients. Please reconsider, many government policies get changed prior to implementation? As the the #'s were blacked out in the Governments disclosure documents on the trust decision, I doubt if any money is being saved with the new tax yet many people have been hurt. My basic logic is that trusts lost $30 billion based on the tax (capital decline in one day) yet the government made their decision on missing $300 to $400 million annually. Based on these numbers, the government lost $4.5 billion in capital tax ( @ 30%) to save say $350 million. Ie) Almost 13 years
of lost tax was lost in one day ?? Makes no sence, this Marshal plan will help you fix your past error

(337) London ON: Hopefully Mr. Flaherty has a very guilty conscience and will see this as one way to PARTIALLY rectify the irreversible harm that he has caused.

(338) Carleton Place ON: I agree, there must be a trust presence on the TSX so that retired people can receive a steady stream of income to augment their retirement pensions.

(339) Calgary AB: I am a "small" businessman, operatiing a "family" business for over 35 years. The Income Trust investments which I had banked on for my retirement and to afford a sound financial transition of the business to the next generation of my family was effectively "snuffed". The ignorance of a government that can't see beyond their up turned noses is alarming and really makes one wonder what's next (third class country here we come).

(340) Kingston N.S.: Please implement the Marshall Savings Plan solution.

(341) Guelph ON: ANYTHING to rescue my RRSP retirement savings is welcomed. It is quite obvious that this Conservative government is not going to do anything to improve our retirement savings and is totally uncaring of seniors and democracy. Single seniors, like me, are especially vulnerable. Mr Harper we seniors have long memories - bring on the next election!

(342) AYR ON: Please consider this proposal very seriously from those of us on the income trust train wreck!

(343) London ON: Jim Flaherty lied to all of us. Lets fix this.

(334) Vancouver BC: We as pensioners do not have a company pension, we depend on our investments i.e trusts which are disappearing.We would like the Marshall plan implemented. The government hirelings that take away our living don't get it,they are assured of a good pension which we as canadians pay them this pension,and yet they and yet they take our living away from us.

(335) Québec PQ: Please try to repair the damage you have done to my retirement income and that of thousands of my fellow canadians. Thank you.

(336) Fletcher: I concur

(337) Lumby BC: Please implement the Marshall Savings plan solution. Restore a level playing field between the 25% of Canadians who have a work pension plan and the 75% of Canadians who have funded their own RRSP's with after tax dollars so they wouldn't have to rely of Government in their old age. Taxing Income Trusts at a high rate hurts us even more and takes away the incentive to save our money for our non working retirement. Preserve income trusts as an investment vehicle for all Canadians to "profit share" in Canadian companys not just the ones who belong to large Pension plans that can buy out the entire income trust. My husband and I have lost a lot of our retirement income because of the decrease in value of our income trusts, therefore the decrease in their profits and their payments to us the shareholders. Therefore we can not spend that income to help the economy. Where are these companys going to raise money? How is Canada protecting our companys when foreign investment is all they can afford to use.The hard working, self supporting people do not have company medical/dental/or retirement plans and now the government hits us again. Many of the income trusts that we owned have been bought out, and these were some of the best which lowered our monthly payments. Please change this.

(338) Toronto ON: Mr. Flaherty:Adopt the Marshall Plan. Keep your Conservative Government campaign promise. Preserve the Income trust as an essential Profit Sharing choice for Canadians - specially for retired Canadians who are caught in a spiral of increase costs and reduced revenues. Get back to work and do your job.

(339) Maple Ridge ON: Sir...I voted for you based upon your statements about leaving income trusts as a vehicle in which the average retail investor (voter)could only pay tax once on the distributions. You have reneged on this promise.
Now is the time to come up with a solution to the problem...namely the "Marshall Plan" I will be noting the results and taking it to the ballot box on the next election. Thankyou,

(340) Calgary AB: I think it's time to accept that Jim Flahertys Trust policy was a mistake, and move on!

(341) Stouffville ON: The Marshall savings Plan: A majority government is possible. Resistance to a conservative government by people seriously damaged by the trust debacle may change their attitude should this idea be implemented:

(342) Toronto ON: Less Government and more business and a better avenue for Canadians to save up for retirement.

(343) Pointe-Claire PQ: Please preserve income trusts as an essential "profit sharing" investment choice for us Canadians. I live with a revenu of $15,000 a year including my income trust investments, I cannot handle any more taxes.

(344) Cobourg ON: As a holder of a number of Income Trusts both inside and outside my RRSP, I strongly support the Marshall Plan as an excellent solution to what is an unfair situation.

(345) Calgary AB: It's too late for me, the economic crash hurt my finances very badly so I've had to cash in my RRSPs. Including the ones that held my income trust units. I'm 44, a time when I should be saving, but thanks to the Conservative mismanagements, I don't think I'll ever get ahead. But if you can help some of the poor grey hairs out that that were so badly burnt by this fiasco, you may yet get my vote in the next federal election. Mitigating the income trust disaster would be the ONLY thing that could redeem the Conservatives in my eyes.

(346) Cambridge ON: I still feel double-crossed by Harper/Flaherty and will never vote Conservative again until this mistake is fixed.

(347) Toronto ON: You have destroyed a viable and income necessary solution to a growing problem for senior Canadians with the income trust reversal stance you have taken. The net effect to the government will be measured in the hundreds of millions of dollars that will now have to be found to deal with the losses on the other side of the ledger for honest hard working people who were hitherto proud not to have to rely on the government for income in their retiring years. There is no reason to not fix the problem today to the best extent possible.

(348) Dundas ON: Leave the retired people alone , simple !

(349) Melita: I support the Marshall Plan being proposed to at least partially remedy the income trust fiascal that the Conservative party inflicted on Canadians and continues to as permanent ongoing losses of income streams evaporate under the current policy.

(350) Sudbury ON: Please reverse your plans on taxing income trusts. l have no other means of income. lt will devastate my monthly income. You are wrong in what you are doing

(351) St. John's: Enough harm has been imposed on income trust investors already.

(352) Toronto ON: I was hit in so many ways,just after I retired. I lost a large part of my savings because of the federal income trust decision, then the market collapsed. I no longer can help the economy by being a happy & consuming retiree... I must keep my expenditures to a minimum.

(353) Grand Barachois Quebec: I, along with my daughter, have suffered significant losses in our retirement savings due to the impending taxiation of Income Trusts. The prospect of double taxation is a cause for even more damage to our meger savings. Please implement the Marshall Plan solution!!

(354) Pickering ON: Please implement the Marshall Plan for income trusts.

(355) Grand Bend ON: To our Honorable Prime Minister and Minister of Finance, We are in retirement and do not have a company pension and are relying on our Rif account investments for most of our retirement income. For this purpose we concentrated our focus on income trusts as the main investment vehicles that provide the kind of cash yield we need to achieve a reasonable pension equivalent and we are paying our share of taxes on our annual Rif withdrawals. We have been hurt by the unexpected policy hit on the trust sector and would greatly appreciate if some policy change could be made to the trusts tax framework that would moderate the tax impact on our Rif retirement income, such as the Marshall proposal,
to at least mitigate the double tax effect on our Rif income. Please give this your consideration as part of this year's government budget. Thank you. Respectfully,

(356) KAWARTHA LAKES ON: I have already lost 20% of my savings. Don't tax the rest of it away. Fixed income retiree Just represent the People

(357) Toronto ON: The day you cut $12,000 from my retirement funds with your BROKEN DON'T TAX INCOME TRUSTS PROMISE is the day I stopped voting Conservative, Mr Harper. You have a chance to fix this mess. Do so!

(358) Hanover ON: This is an oppurtunity for Flaherty to get out of this mess he put all of us in and save seniors pensions and save Canadas companys from being sold off to forein companys. He could also keep some of the tax here in Canada and make up the millions he has lost by taxing income trusts. If he has any guts he will stand up like a man admit to his huge mistake and act now.

(359) Halifax NS: Please implement the Marshall Savings Plan solution My wife and I are retired seniors who did not have an opportunity to participate in a Government or Company provided pension plan. Throughout our lives we worked, paid our taxes and invested in RRSPs to provide for the time that we would not be able to earn an income. Flaherty's 'Halloween Surprise' stripped over $100,000. from our RRSP savings immediately, and held out the promise to double tax the rest. Three letters and two telephone calls asking for support got no response from my MP, Gerald Keddy (Surprise, surprise). It's time to get this mess fixed.

(360) Melita: From what we are being told, MPs are working between now and parliament resumption. This is a reasonable proposal to compensate for the rape of our trusts. I'd like to see and hear reaction to this suggestion from all parties as it will have a major bearing on any election to be held in the future.

(361) Montreal QC: Please implement the Marshall Savings Plan solution to Canadas deficit crisis and pension crisis

(362) Ottawa ON: Tell you what Jim Flaherty! You adopt the Marshall Plan as any sane compassionate and highly educated financial person would under these gawd awful conditions (of your creation) and highly predictable adverse consequences that have now come home to roost, ( that you were repeatedly warned about) and I won't start a Facebook Page called "Recall Jim Flaherty's Euromoney Finance Minister Man of the Year Award"?

How's that for a deal. Implement the Marshall Plan and you would actually be deserving of such offshore tax-haven accolades, as Euromoney Man of the Year...albeit in the complete reverse order in which accolades of that sort are normally awarded!

Meanwhile the Marshall Plan is no tax haven. More like tax heaven, with $6 billion a year in found tax revenue, net, to Revenue Canada versus the "do nothing" alternative that you have been doggedly following in your state of "it's not my fault" perpetual deniall Well Jim, it is YOUR fault! And now with Conservative Leadership hopeful Stockwell Day in the new role of Revenue Minister, you better rush to embrace this Marshall Plan as your own before he does, as Stockwell Day's chances of becoming Stephen Harper's successor multiplies ten fold, if he's the one to get this income trust monkey (that you created!) off the backs of every Conservative candidate across the country. Stockwell Day will make the Conservative "electable" in ways that your income trust legacy makes them "unelectable".Speaking of which, where is Michael Ignatieff in all of this? Does he not know a gift horse when he is staring one in the mouth? Hello Liberals? You should be rushing to claim ownership of this new opportunity no differently than you rode the wave of public opinion on prorogation. This Marshall Plan would give you a defined policy to champion, without revealing the policies that you seem to prefer to keep under the wraps until an election.

Therefore, the opportunity exists for: The Marshall Savings Plan = Rode to Liberal Majority government, ...as the existence of the Marshall Savings Plan will serve to reveal all of Harper's and Flaherty's gross negligence, incompetence and deceit. Unless of course Harper and Flaherty champion the Marshall Savings Plan first, in which case:The Marshall Savings Plan = Rode to Conservative Majority government. Looks like a real horse race is about to unfold. This should be fun to watch. Democracy in action in the way that prorogation is Democracy in inaction. There are over 2.5 million income trusts investors, as well as the 75% of Canadians without pension, and 100% of Canadians taxpayers, who have a huge stake in what happens with this Marshall Savings Plan, gift from the gods. Surely, Manulife and Power Corporation and the Gwyn Morgans of this world aren't that powerful in their utter self interest and greed to prevent our paid elected Members of Parliament from doing what's clearly in Canadians best interest for a change?

(363) Westmount QC: I am 76 and have over 200M of Trusts in my RIF accounts! They have suffered significent capital loss but continue to maintain a high yields. Please include the "Marshall Plan"in your next budget

(364) Maple Ridge BC: It's time to make amends for the income trust mistake. We will be watching you in the next election,

(265) Hillsburgh: Please consider instituting the Marshal plan to resolve our untenable situation with the income trusts. As a senior who depended on these trust for my income I was bindsided by your decision to tax them when you promised that they would not be touched.

(366) Collingwood ON: Some policy? Flaherty's ill conceived knee jerk move of Halloween 2006 cost the Canada Pension Plan to (permanently) lose over $300 million in Canadian's retirement savings as a result of his double taxation of income trusts in RRSPs and pensions funds (public trusts only, not private trusts). $300 million in lost value! This number was easily calculated by me by taking the CPP's publicly reported portfolio as it existed before Halloween and tracking the impact of Flaherty's Halloween massacre announcement. Then to make matters worse, when this information of mine was posted on the "scrolling banner" at the CAITI website, CAITI received a number of incoming call from the CPPIB asking him to take it down. Not because the analysis wasn't accurate, but simply becasue they argued that income trusts were no longer an "area of investment foucs" for the CPPIB. Talk about political. Brent Fullard of CAITI learned from a board member of the CPPIB, who let it slip, that they totally paranoid about this information getting known by the public. Just another example of the huge cover up about this entire income trusts tax, borne from that patent lie known as tax leakage. That said, the Marshall Plan is the best fall from grace that Jim Flaherty and Stephen Harper could ever possibly hope for. For them, perhaps, the Marshall Plan is more case of being a "stay of execution"?

(367) Etobicoke ON: Something has to be done to protect income trusts (within our RRSP) from double taxation.

(368) Kanata ON: Fix the broken promise that cost average Canadians tens of billions of retirement dollars.If you don't, I'll never (nor will my extended family members, also impacted by this decision) vote conservative again. The conservative government's failure to uphold their election promise has cost me more loss than any other government policy in my life time. It is so unfair that individual poor or middle class Canadians cannot get the same favourable tax treatment as foreign or national corporations that can, for example, by offsetting interest expenses. If you don't implement the Marshall plan, at least allow all current income trusts to "grandfather".

(369) Rimouski QC: Please fix the terrible situation your decisision on income trusts has put me in, whiping out a third of my life time savings. I am too old to make up that loss.

(370) Wasaga Beach ON: In September 2007, we re-elected a Tory minority government and the result was a fumbling of finances unmatched in modern Canadian political history. The fumble started Oct. 31, 2006, when Finance Minister Jim Flaherty announced that income trusts would be taxed as corporations starting Jan. 1, 2011. The result was a market sell-off of monumental proportions as panicky investors dumped units of trusts, driving unit valuations down. Estimates are the losses to most individual investors in 2006 and 2007 exceeded $34 billion. Never had any democratic government deliberately caused a market sell-off of such proportions. It is time to correct this monumental error by adopting the so called "Marshal Plan".

As humans we all make mistakes. Demonstrate that you can admit it when you err and be honourable enough to correct the error. This will most certainly gain my respect and support for your government in stead of the disdain that I now have.

DO THE HONOURABLE THING NOW

(371) Courtenay BC: I invested in income trusts before Mr. Harper made his campaign promise not to tax income trusts. After Mr. Harper made his false promise not to tax income trusts I purchased more for my own accounts including my RSP account and my mother's (I am P.O.A. for my mother) account. Needless to say My family's retirement abilities have been seriously dammaged by Mr. Harper's broken promise. I believe that the so called Marshall Plan could be a way to reduce the dammage that is being done to investors that were foolish enough to invest in Canada and took Mr. Harper's promise seriously like myself and also help the conservative party save face in the eyes of investors that may still invest in Canada.
The way it is now we will never ever never vote for any conservative party candidate and neither will anyone else we can influence. Sincerely,

(372) Maidstone SK: Marshall Plan sounds good!

(373) Port Alberni BC: Please at the very least implement the marshal savings plan although this will not bring back my lifes savings that were lost when our wonderful conservative government broke their election promise that they would never tax income trusts.It would at least level the playing field.How can the government and the media justify its decision to tax income trust and say they cause tax leakage then present 18 pages of blacked out documents. If there is tax leakage why are reits allowed to remain as trusts.And why are pension plans able to buy out trusts and not pay taxes.This is an oportunity for the government to reverse the damage it has done to seniors lifes savings and let us live our final years in dignety and not be a burden on the government and the younger generation.this is a win win for all pleas read all the above information.Yours truly

(374) Port Alberni BC: As I compose these comments, I sit at my desk frustrated, depressed, and nearly in tears as I reflect. In all honesty, I wonder and worry how I am going to continue to support my family. Before the Federal Government announced the tax on Income Trusts we were fully invested and very well off, making a very good living from our Income Trust Investment distributions, with RBC's resources in our corner. When the Income Trust tax news hit, our portfolio was smashed down and that marked the beginning of our demise. The Income Trust sector was doomed and our monthly income distributions as well. Other investments with decent income payouts are virtually non-existent so we were then forced to seek out higher market risks on capital gains investments to generate our income. Lightning struck again when the stock market ultimately crashed with AIG, Lehman Bros., etc. Our portfolio has been pretty much blown out, with no investment income flowing in to tide us over, and we're left with a large business line of credit to live on. The market aftershocks are still hurting. Did I mention our RESP? Smashed down by 40%. A lot of good that will do in 4-6 years when it's time for our three kids to enter post secondary education. I have no idea how we're going to make that work. We're probably going to have to raid the RESP to feed ourselves. So much for stimulating the education level of our future work force. Employment is far from abundant in our area. We're finding it extremely difficult to find our way back into the workforce as we approach what should be retirement age.We've gone from paying our country $25,000 a year taxes to $0 per year. We're not making money and we're not paying you either. I wonder what the cumulative lost taxes adds up to? Good work Jim Flaherty! How many other Canadians are out there hurting just like us? I hope you're happy Mr. Flaherty. We're certainly not! I beg you, please rethink what you've done and what you're about to do, in terms of taxes. No more! These bells cannot be unrung. Disrespectfully,

(374) Qualicum Beach BC: My many years of experience as a CA still causes me to seriously question the technical accuracy and truthfulness of the reasons given for the income trust policy passed by the Conservative government. I respectfully suggest the real reason had more to do with the fear on the part of bankers and blue chip corporations that the income trust market was obtaining a larger share of the investors' dollars. (for many good reasons other than escaping tax, which the investors do not achieve in the final result) The "spin" of tax leakage initially did not fit with my understanding of the taxation of partnerships and non-incorporated enterprises and to date I am not aware that it has ever been proven. In any event there were less destructful ways to obtain some control of the income trust market if that was deemed necessary. It is common knowledge that this ill conceived policy has cost many of us small investors not only a large portion of our retirement savings,access to an ideal investment alternative for retired people and piece of mind. The cost to Canada from foreign investors gobbling up these investments is incalcuable but the stupidity that occasioned this questions the intelligence of our department of finance. Also the bias in allowing non taxable corporate and government pension plans to still utilize the income trusts while private RRSPS are prohibited is very questionable?? Although the "Marshall Plan" will not help me recoup much of my losses it would still provide me with a very useful future retirement tool to generate cash to live on. The companies are REQUIRED to distribute their earnings to the unit holders rather than "hoarding them " as happens with so many of the "blue chippers" who then pay outrageious bonuses to their directors.--'nuff said
Respectfully submitted,

(375) Richmond BC: It is about time to right the wrong the Conservatives who have broken the promise of not taxing income trusts in the last election campaign. I have worked hard over the last 40 odd years to raise my family and put retiremnt money in my RRSPs that are mostly invested in cash-paying income trusts based on the election promise. Lo and behold, the government did the unthinkable. On that fatal Halloween night, Flaherty did that trickery act of putting seniors on a belt-tightening notice that they no can rely on the RRSPs for retirement because the funds were once thought to be sufficient is no longer the case. Personally, my RRSP funds were dropped by over 40% in the next day of trading, and the funds still have not recovered to this day, despite the continuous cash payouts. If the governmnet has any decency left, it is not too late to adopt the Marshall Plan in the coming budget, which will alleviate some of the problems that were created by taxing income trusts.

(376) CALGARY AB: PLEASE CORRCT THE ENIQUITIES AS RECOMMENDED

(377) London ON: As a concerned Canadian I want you to consider implimenting the Marshall Savings Plan in the upcoming 2010 for the following reasons
1. It will help restore a level playing field between the 75% of
Canadians without pensions (RRSPs) and the 25% of Canadians with pensions.
2. It will help the 75% of Canadians without pensions and preserve the means to a decent
retirement income and standard of living.
3. It could create a new substantial stream of cash tax revenue for the government.
4. It could direct the vast pool of Canadians retirement savings into real investment in
the Canadian economy.
These are just a few of the reasons why you should consider the merits of the Marshall Savings Plan

(378) Salt Spring Island BC: I recently read the column in the National Post regarding the "Marshall Plan".Diane Francis is someone that I realy admire and respect. I couln't agree more with her endorsement of this plan to salvage something out of the mess that your government got the country in, by bring in the ill conceived and poorly thought out tax on Income Trusts.

(379) Winnipeg MB: It is long past time for Stephen Harper, that dishonest and dishonourable liar who also promised us "open and transparent government", to reverse this unjustifiable income trust policy

(389) Calgary AB: Please implement the Marshall Savings Plan solution to Canada's deficit crisis and pension crisis. We need this for the futuer of all retirees.

(381) Duncan BC: To whom it may concern The income trust legislation has absolutely devastated my retirement savings. Upon the Conservatives PROMISE to NOT tax Income Trusts I converted the majority of my RRSP savings Into these vehicles. I mean if you can't trust the Govt. ?????????????????????

(382) Keremeos BC: please implement the marshall savings plan solution. as a concerned CANADIAN i call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget.you have never paid any attention to us taxpayers before so now is your chance to right a serious wrong and assist us seniors and WW2 veterans thank you for your action in this regard,PILOT OFFICER R.L.FERGUSON R.C.A.F J52701 age 83. on january 11 2010 i had to place my wife of 63 years in the local dementia ward and i desperatly require my legal portfolio to exist.

(383) Kelowna BC: Please pay attention - my retirement plan was based on the promise that income trusts would not be taxed - I have already suffered a $ 10000 loss to my 2010 income - and the consolidation ( and destruction ) has just begun. Please do not submit me to double taxation - my distributions get taxed inside my RRSP and now I have to pay 20+ percent income tax on the withdrawals from my RRIF. Lets be reasonable and make the right choice - regards.

(384) Calgary AB: Please implement the "Marshall Plan" to repair the damage done to the income trust industry by the October 31, 2006 policy change announcement.

(385) Nanaimo BC: The "Marshal Plan" is a well thought out plan to assist retirees who continue to have income trusts in their registered accounts. I hope that this proposal is given serious consideration.

(386) Comox BC: Help us!

(387) Victoria, BC: Here is an opportunity for the Conservative Party Of Canada to redeem it's sad reputation in the minds and hearts of hundreds of thousands of disillusioned Canadians by adopting the Marshall Plan in the next Budget.
Signed

(388) Edmonton AB: This plan will save face for our Prime Minister and his flunkies. It will help retired people like my wife and myself begin to have our assets back. We may be able to enjoy our retirement as it was planned and not like it is. It was stolen from us when we were lied to when Mr Harper said on national T.V. "We will not tax income trusts". We were lifelong Consevatives , but that changed with this BIG lie.

(390) N. Vancouver BC: At a time when income is increasingly hard to establish for those of us retiring, and also at a time when companies have difficulty raising funding - it makes omplete sense to restore the income trust status of companies.
the present system of double taxation of companies, their employees, and their shareholders will eventually damp out Canadians ability to compete, regardless of the industry they are in. Allow business and citizens to trust each other once more as partners, and open this channel toward competitiveness.

(391) Vancouver BC: Dear Conservative Party members and leader, Please respect your election promise, and maintain income trusts units as taxable income on a level playing field. Yours truly,

(392) Edmonton AB: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.
As a former Conservative Party supporter, I deplore the "income trust debacle", and need some evidence of the Conservative Party supporting retirees in a financial way.Words, speeches, etc have been reneged upon in the past, I would like you to exhibit some substance. Thank you.

(393) Penticton BC: Give me back my retirement income. It is money that I would be spending in my community. I have lost over 50% due to the tax grab on income trusts in my retirement stock portfolio.

(394) Canmore AB: Although I would favor any solution to the unfortunate and unfair situation that has arisen regarding taxation of income trusts, including this one, I believe a much simpler solution would be simply to allow the dividend tax credit to apply to RSP/RIFs. This one simple step would remove all the objections to the current system and ensure a true "level playing field". One possible argument against this is to encourage RSP/RIF holders to invest in fixed income securities rather than stocks, but these days it can be argued that income trusts and other high dividend paying stocks are safer than Bonds and similar securities.

(395) Delta BC: I am a tax-paying resident of Canada whose retirement plans were adversely affected to a significant degree by the federal Conservatives plan to end the income trust structure in spite of their previous promise not to do so. I am not a member of a pension plan and will rely on my RRSP's to provide the funds I need in my retirement. The value of those RRSP's was substantially reduced by this action. I felt absolutely betrayed by this reprehensible action of the federal Conservative party. As a consequence I have determined never again to vote for the party in any future election, even though I have been a committed Conservative supporter all my adult lifAs a way to mitigate the damage which has been inflicted upon myself and millions of others in similar circumstances, I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. This will partially restore a level playing field between the 75% of Canadians without pensions (RRSPs) and the 25% of Canadians with pensions. If the Conservatives embrace the Marshall Plan I shall again consider voting for the party.

(396) Utterson ON: Never before have I witnessed a government attack the very people they are elected to represent. The trust unit broken promise goes beyond all imagination. To wipe $35 billion from the market and savings of trusting Canadians is simply mind-boggling, and even more so given the fact that it was absolutely baseless. Please take a good hard look at the Marshall Plan and do the right thing for once.

(397) Mississauga ON: Please listen to common sense for once. You are our government that is supposed to work FOR Canadians, not against them. You broke a poromise that has caused serious issues for an incredible number of Canadians. Please think straight and fix this mess you've created.

(398) Shawnigan Lake QC: The annoucement by Flaerty on Halloween had the imediate effect of dropping our RRSP's by 45% in 1 day. This well make our upcoming retirement very frugal. We voted for the Conservative party only because they had promised to leave Income Trusts alone. We well never be fooled again by that lieing political party.

(399) Cornwall ON: There are 308 Members of Parliament and it appears that 300 of them have not read their job description. Namely taking care and listening to their constituents. There is the odd consentous MP, but the vast majority would perfer to look after the Banks, Insurance Companys, Pension Funds and lastly foreign entities. They all have one thing in common, they pay no taxes when they acquire an Income Trust. I don't mind really. What I find unfair is that my wife and I are not accorded the same. That is right. Our RRSPs are dinged 31.5% at source and again when we make our manditory withdrawals. Mr. Harper, Mr. Flaherty and Mr. Layton call this leveling the playing field. You be the judge. My wife and I are really finding it hard just to pay the bills. Please take a good look at the Marshall Plan. You will find it has merit and will go along way to solving our financial problems and help Flaherty get his much needed
income. The Marshall Plan is a win, win for everyone.

(400) Calgary AB: Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians. Create a massive new stream of cash tax revenue for the government ($6 Billion per year). Help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living

(401) Calgary AB: As a concerned Canadian I ask that you ensure that the so-called "Marshall Savings Plan" is implemented in the upcoming 2010 budget.
My 35+ years in public accounting suggests to me that there is no basis whatsoever for penalizing Canadian retirees who have used their RRSPs to invest in income trusts by DOUBLE-TAXING such income. Such punitive measures aimed at a vulnerable segment of our population undermines the respect for the taxation system and creates further cynicism toward politicians.

(402) Edmonton AB: Please inplement the Marshall Savings Plan solution into Canadas deficit crisis and pension crisis. Thank you.

(403) Riverwoods: this is your chance to do the right thing; you now know what that is as you have all the facts

(404) Vancouver BC: I support the Marshall Plan as the best solution.

(405) Brantford ON: Please implement the Marshall Savings Plan.

(406) Rutherglen ON: I totally agree with the Marshall Savings Plan. It would allow those who have their trust units in an RRSP to keep a larger portion of their money and therefor increase their standard of living.

(407) Hamilton ON: Yes I am proud to be a Canadian Senior. We have so much money for retirement that our government (Harper) through its finance minister (flaherty , the one without a clue) has decided to tax the meagre resources of us rich seniors. How wonderful. Now Brent Fullard has to invoke the "Marshall plan" against our own government (Harper. To be a physician, or airline pilot, or shoe-maker, or plumber, one must undergo rigorous training. BUT in the harper government, all you need is someone with a law degree and NO experience in finance to be finance minister. This is what we have in Canada; a G7 country. A law degree DOES NOT qualify anyone to do anything but practise LAW, When it comes to FINANCE, a lawyer is a MORON and the person delegating such tasks (Harper) is also a MORON. The ONLY outcome of a moronic delegation is a moronic decision like TAXATION of Trusts which have served Seniors very well under Jean Chretien and Paul Martin.
Delegating such important duties to absolutely INCOMPETENT ministers (Flaherty) results in this crisis and catastrophe we now have. Thirty-five Billion dollars in Trust equity was wiped out overnight by flaherty's obscene action. Flaherty responded with "well its only paper money". Is this guy for real? Is he really THAT stupid? Did he get his "law degree" as a prize in a Cracker Jacks box? This is not even Econ 101. Does this "minister" not know that value in a Canadian dollar depends on CONFIDENCE in the dollar? What is CONFIDENCE? Confidence means "with faith". From Latin cum (with), fidere (trust).
It means that if there is a lot of confidence that a dollar, when presented for goods or services, will result in a reasonable amount of return. Its that simple, and flaherty, as finance "minister" he should know that. Does flaherty think that a twenty dollar bill is intrinsically more valuable than a five dollar bill? (Maybe the ink was more expensive).
Therein lies the basic problem; elect an incompetent leader (harper), who appoints an equally incompetent finance minister (flaherty), who makes equally incompetent decisions and Canadian Seniors have to bear the brunt of all this incompetence. Seniors who have BUILT this country to the level of a G7 nation, with blood, sweat, and profuse TEARS. Seniors who have raised the standard of living in Canada. Seniors who have paid millions in taxes. Now the same seniors are scurrying around, trying to preserve our life-savings from an administration which is absolutely and totally inept.
There can be ONLY ONE SOLUTION to this manufactured problem. RETURN THE TRUSTS to their former tax status, before flaherty introduced his bill to tax them. After all, was it not Harper HIMSELF who stated that "the Trusts would not be touched" in the election? Then turned around and did just that. Being incompetent could be blamed on many things like, lack of brain power, lack of Mother's milk etc.. But to be a LIAR (Harper) means to lack a SOUL.

(408) Calgary AB: Income trusts were, and are, a much needed investment vehicle for Canadians' retirement, but they are also a form of enterprise organization that encourages fiscal discipline and unitholder participation. At no point prior to October 31, 2006, were studies done that indicated lower performance levels for trusts in any actual financial measurement or ratio. The fact is that income trusts put pressure on their corporate competitors to add value for their shareholders that equaled the value income trusts provided to their unitholders. Rather than figure out how to compete, corporate interests used their proximity to power to change the playing field. This should have been a flag that corporations needed to change, not that they needed to be protected by the government ending income trusts. The government protected the corporate interests at the expense of Canadians, including many retirees. This Marshall plan would mitigate continued damage to Canadians' retirement funding caused by the government giving in to corporate interests.

(409) Penticton BC: It is time for the Conservative government to correct the injustice of the Halloween Massacre on income trusts.

(410) Victoria, BC: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

I agree with the suggestions put forward by Diane Francis and I would be pleased if all points would be covered in you budget

(411) Regina SK: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(412) New Hamburg ON: What were you thinking! I have an Individual Pension Plan, which due an an on the job injury I am now forced to rely on. Now I pay tax twice on my Income Trusts investments, once as they are Corporations and when I withdraw the funds. I voted for you because of your promise on Income Trusts, to leave them allone,as this was my income.
Now many Income Trusts have either been taken over by OMERS or the Teachers Pension Plan's etc., or Private Equity or foreign Corporations, all of which pay no tax. I have 11 children, your actions have cost them they're inheritance and will probably put some of them on Social Assisstance, layer in life, with me, not to mention the theft of their childrens wealth. Please prove to all Canadians that you (our Gov't) now are in pocession of more tax funds to spred around to those who need it. If you can prove your plan paid off I will forgive your lie, otherwise I have to vote Liberal. Please support the Marshall Savings Plan so my children who do not work for the Gov't will have a chance at an income when they are old or injured. Give them a chance!
I did not like or appreciate the Finance Minister in 2008 and 2009 telling me everything was OK when it was not. I still can't believe my Gov't lied to me. I trusted you people to look after my and my childrens' futures.

(413) Windsor ON: Just prove the tax leakage now prove the tax lost from this perverse decision prime west, harvest and more gone Canadian owned who will not pay taxes. Who will pay for the tax lost? all the Canadian people

Who will benefit from this perverse decision ???? Not the Canadian people most assuredly Prove Telus and BCE paid more taxes as corporations (as close to zero, yes/no) than would have as trusts

Prove the flow thru from trusts(as trusts must pay out all cash or be taxed at 46% by tax law) was not LARGER and taxed at a HIGHER rate than as corporations.You will not and by inference cannot and the biggest question is WHY WHY WHY ??? one can only surmise that it is in your personal interest and not the tax purse of the Canadian people. So you know what that makes you. All Canadian politicians implement the Marshall Savings Plan NowAll other politicians you know where you can go. Just look under the carpet

(415) Port Carling ON: Perhaps something positive can come out of a destructive decision. One we will not forget come election time.

(416) Nakusp BC: Here is a chance for politicians to actually create something workable out of the 2006 income trust fiasco!!

(417) Reansbury: It seems to me that you shaved 1/3 off my retirement after promising not to and then were unable to justify it. Bottom line is I paid more tax when the trust were in tact and now Shiningbank, Prime West and Harvest (all of which I owned) are now foreign owned and will pay NO

(418) Mississauga ON: I believe the Marshall Plan offers a palatable alternative to the Halloween fiasco. Seniors have been dealt a serious blows to their nest eggs. Not only have our incomes dropped, but the capital losses have been a very unfair way to implement change. The government sought more taxes but I feel that I have very much overpaid my share of tax and loss. Add to this the recession and market volatility and you can understand why people are unable to stop hurting over this matter. This is a viable solution to this long term pain.

(419) Duncan: Still time to fix the wrong doings of the tax

(420) Carnduff SK: Here is a way to correct some of your poor decisions and boost your respect Mr. Harper.

(421) Norway House MN: Please do something about this HUGE mistake ( taxing trusts ) especially in RRSP"s - there is no question that this was a misguided decision - I had service canada mail me asking why such a drop in income in 07-08 I refered them to the trust decision -this must be a common thing -millions of lost dollars to investors - millions lost to foreign takeovers -millions lost in revenue to the govt It's a shame this action was taken -so much lost @ every level I would ask that you look into the marshall plan It's a shame this action was taken

(422) Etobicoke ON: As part of the 75% of Canadians without a pension please preserve the means to a decent retirement income and standard of living.

(423) Grimsby ON: Please bring rationality to an irrational piece of Conservative/Flaherty legislation on income trust destruction by including the Marshall Plan in the March budget.

(424) Surrey BC: Our life savings were destroyed by Flaherty. Our Conservative MP ignored our five e-mails and did not return our calls.

(425) Surrey BC: My life savings were devastated as a result of Flaherty's Folly.

(426) Dollard des Ormeaux QC: I have no other pension plan except my RRSP and your unexpected taxation policy has cost me so much that I will have a miserable pension thanks to you guys. I wish you had pension plans like most of us ; only then you will know how it feels what you have done to us.

(427) Sidney NS: This seems to be an easy fix for this problem . We must support it .

(428) Cobourg ON: Promote saving and investments in Canada by Canadiens-for Canadiens. Income Trusts as an essential "profitsharing" investment choice for ALL Canadiens.

(429) Edmonton AB: A member of my family has been deeply affected by the Conservative Governments Income Trust Policy, as a consultant with education and a contributor to the Canadian tax system for 50 years,he now has no Pension, no Severance Package, and no Employment Insurance - RRSP Trust savings, meant for my retirement sustenance, have been destroyed in the Marketplace by Harper's Tax Fairness Plan and he am fighting for survival.
Help retain some sense of dignity to these Canadians.

(430) Port Alberni BC: There is only one year left until the second blow is felt from the tax on Income Trusts announced on Oct 31,2006, therefore time is running out to correct this injustice dealt to a particular sector of Canadians, those who owned Income Trusts. As a retired owner of Income Trusts, my retirement nest-egg has already been dealt a serious loss of capital following that announcement and now my retirement income is slated to also diminish with no means of recovering this loss. I have followed this issue over the past four years and am not the least bit surprised that the Government still continues to ignore requests to supply proper information to substantiate it original claims of “tax leakage” that resulted in this devastating tax. No wonder the people feel their voices are never heard and voter apathy is significant. There is still a chance to change.
Now I am asking
The Government
1. Provide proper corroboration of their Tax leakage statements or repeal the Tax on Income trusts. And/or
2. Consider the “Marshall Plan” which seems to address a number of issues and avoids the numbing double taxation now threatening owners of Income Trusts in RRSP’s.
The Opposition Parties
1. Make the Government “Man-up” and admit that their position on income trust was based on only partial information, and has lead to an injustice is Income Trust owners, and will in future cost all Canadians as tax revenues are lost.
2. Push for the proposed “Marshal Plan” as this will at least partially provide some relief from this fiasco, at the same time allow the Government some chance to save face, Not that they really deserve it.

(431) Brossard Quebec: please implement the Marshall Savings Plan solution thank you

(432) Castlegar BC: As a concerned Canadian, I call upon you to impliment the Marshal Plan in the 2010 budget.Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians Help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living. Halt the continued rash of takeovers of vulnerable income trusts (eg. state-owned Abu Dhabi Energy acquiring Prime West etc).Restore a level playing field between the 75% of Canadians without pensions (RRSPs) and the 25% of Canadians with pensions. Promote saving and investment in Canada by Canadians Direct the vast pool of Canadians retirement savings into real investment in the Canadian economy

(433) Delta BC: Finally, WITH Income Trusts we had CEO's and Board Members almost forced (let's say "Obliged") to pass a much FAIRER share of profits to SHARE HOLDERS (many of which where Pentioners), before filling their own pockets. The shame of doing this goes to a lying Prime Minister and his Finance Minister.

(434) Canmore BC: Please implement this so called Marshall Plan for income trusts held in RRSPs to prevent the creed of government from taking the savings of seniors.

(435) QUALICUM BEACH BC: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

Jim Flaherty's income trust policy fiasco is still hurting millions of Canadian seniors and other investors!!Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians. Remember that we, who have been deceived by the"Government", will not let up our fight until the damage to our financial livelyhood and security has been repaired by the Government.

(436) Longueuil QC: Please implement the Marshall Savings Plan solution

(437) Winnipeg MB: Please insure that the Marshall savings plan is implemented as a solution to the Income Trust fiasco. It would help to restore some of the damage done by the Income trust decision and make it more fair for the 75% of Canadians without pensions.

(438) Mortensen: Resolve Jim Flaherty s income trust policy fiasco

(439) Burlington ON: Help the 75% of canadians without pensions and preserve the means to a decent retirement income and standard of living.

(440) Toronto ON: I was a Canadian Citizen invested in Canadian oil and gas assets. I was earning a substantial second income of $1,500 a month and paying income tax on that money. That was until October 31st, 2006. The next day I watched as the value of my holdings suddenly dropped. Over the next few weeks I lost $26,000 from my accounts. It unbelievable the Government of Canada would affect the stock market in such a disastrous way, unannounced and opposite to their election promises. I also lost income over three years in the range of $54,000. My financial plans for the future were gone. Whichever party is in power, it's a long overdue necessity to correct the massive income trust fiasco.

(441) Vancouver BC: I don't feel income trusts should be taxed twice. Give us a break with our retirement plans-- we are all trying not to be a burden on the government and the people of Canada. We have worked hard for our money and made the best investments we could. And then it was such a shock what Flaherty did -that has really affected our retirement income. Please make the changes. Thanks, Joan

(442) Cambridge ON: This tax wrecked my RRSP's and continues to wreak havoc with my retirement savings. Please implement the Marshal Plan for trusts!!!!!

(443) Vancouver BC: This was a betrayal of our trust, and also a stupid move, due to the "tax leakage" that is now happening by the takeover of the trusts by those that do not pay ANY taxes. This hurt me personally, and I will never forget it!

(444) Vernon BC: I think that it is time that the conservative government started listening to the electorate of Canada and seriously consider including the Marshall Plan in their upcoming budget. This would not only save face for Mr. Harper by showing that he is capable of having a change of heart, and does care about retirees and the small investors whoes nest egg accounts were decimated by his micalculation.

(445) Delta BC: I urge you to restore fairness and equity to the income trust debacle created by the Conservatives. The best way for this to happen is for the government to adopt the Marshall Plan in the upcoming federal budget.
I have stopped supporting the Conservative Party in federal elections because of the betrayal by the party on this issue. If you adopt the Marshall Plan I shall again consider voting for the party.

(446) Calgary AB: "Please implement the Marshall Savings Plan solutions" I am 100% behind The Marshall Plan. Flaherty's actions played considerable havoc on our investments. We are among those who do not have a measurable pension so for us the Trusts were and are our major investments. From the very beginning we were more than frustrated with Mr. Flaherty's action.

(447) Leduc QC: As one who has lost a lot of money through the devaluation and take over of Income Trusts, I urge you to adopt this plan to help those with Income Trusts in their RRSP.

(448) Sarnia ON: I am one of the 75% without a pension. My husband and I were self-employed for 40 years, now retired. We counted on the revenue from our investments in the trust market to augment our OAS, which we have just begun to collect. We were hit hard with Jim Flaherty's move, and, we trusted Stephen Harper when he said he would not touch income trusts.
I would really like some repayment of our 40% loss. The TFSA is not a solution, nothing but a band-aid. Hopefully something will be done to help the growing senior population.

(449) Lutes Mtn. NB: I've worked hard for a lifetime and saved to provide for my own retirement. I've been comfortable with the risk of the market as it could mostly be understood. The one risk that proved to be not understandable was the cavalier attitude of my own government that wiped out a big part of my self built pension. If this proposed plan will help to right a terrible wrong then I;m for it.

(450) Vancouver BC: The betrayal in 2006 converted this long time conservative into a reluctant liberal. Enough said.



(451) Kamloops BC: Yes, I believe this \"Marshall Plan\" would help to resolve some of the damage done to the pensionless retiries from the devistating Income Trust Tax policy of Halloween 2006. My meager income stream has deminished significantly along with my net worth as a result of the Income Trust Tax. Yes, my net worth was part and parcel of the Thirty Five Billion dollars ripped from the Canadian economy and innocent Canadians whose only crime was trying to provide a little extra for their families.

(452) Pender Island BC: Few chances are ever given to rescind destructive policies to both individuals and our country at the same time. This is the Conservative Party's chance-one chance. The destruction is done but there is this one chance to save some face.

(453) Calgary AB: Having tried to provide for my retirement, I invested a large proportion of my moderate RSP in income trust units and have seen a substantial lost in value, not by poor investment but by the Government decision to change the rules. It is the fact that there is no such loss and that, for whatever reason, incorrect assumptions have been provided to support the rule changes. I feel that an admission of error should be made or at least the suggested "Marshall savings plan" be introduced to mitigate my losses and help me in my retirement.

(454) Winnipeg MB: I concur with this proposal.

(455) Shanty Bay ON: Nobody complained about a 7% GST. Reducing it, made some political sense initially, but was plainly a dumb move.

What is so wrong with being taxed on your spending? Strike one!Harper lied about not touching Income Trusts and many people that were counting on Income Trusts for their retirement lost a lot of money as a result of Flaherty's Halloween "joke". My family lost at least $75,000 plus a reduction in monthly distributions as a result. Strike two! Here appears to be an opportunity to somewhat correct the Income Trust Debacle. Do something soon, otherwise it will be strike three for me (currently still a contributing Conservative). Thank you,

(456) Calgary AB: I have read great things about the Marshall Savings Plan Proposal. As an investor and an employee of an oil and gas income trust, I have already suffered disproportionate investment losses, all thanks to the Conservatives failure to live up to a public promise. It's time to recognize that mistakes were made and find ways to alleviate the losses suffered by so many Canadians. Currently, I remain disgusted by our government. I see no remorse by our Finance Minister nor our Prime Minister for the damage done. What we witness is continued arrogance that exceeds anything previously exhibited by our elected officials. As someone who has lost in excess of $70,000 of borrowed investment money, I do not want to hear how no one suffered permanent damage from Flaherty's killing of investment trusts. This is a blatant lie - but what's one more after the original biggie. Further, I am nearing the end of my employment cycle. There is every possibility that I will never be able to recoup all the losses prior to my retirement. That will leave me hanging off of the "government tit" until the end of my days. The one blessing - I was not already retired and losing capital - that happened to many.

The proposed plan provides an avenue to mitigate some of the worst excesses of the proposed income trust tax. I recommend you look seriously at the plan. It won't guarantee my vote during the next election, but it might keep me from again actively supporting the opposition party in my neighbourhood. In closing, this Conservative government has single handedly cost me more than all prior governments during my lifetime. It's not a record you should be proud to hold. I look forward to someone finally trying fix the largest single blunder ever made by a governing Canadian Parliament.

(457) Salisbury: My retirement incomme plan was devistated because of the changes that were made with regards to Income Trust. In addition my net worth was greatly eroded overnight. Please consider the Marshall Plan as a viable solution.

(458) Abbotsford BC: Restore our investment. I'm a senior that depended on income from my investments. I did not WANT GOVERNMENT HELP

(459) Toronto ON: Despite the fact that the Prime Minister assured Canadian in December 2005 that the Conservatives would not touch the income stream of all Canadians and Seniors in particular by Taxing Income Trusts, we know what happened with Mr. Flaherty's Halloween Massacre of October 31, 2006. Canadians of all stripes lost a total of 31 Billion in Value of their assets. This was unprecedented. And, the government has failed to disclose their argument that Income Trusts caused tax leakage. This too is false. It is time to come clean and "RIGHT the wrong". Admit your folly and rectify the situation.

(460) Maple Ridge BC: Mr Harper: I'm not usually one to hold a grudge but I'm still angry and devastated from our losses from the income trust fiasco you and Mr Flaherty created.
Here's your opportunity to try and give some relief to the situation. Do the right thing
and adopt the Marshall savings plan.

(461) Peterborough ON: I must commend the authors and promoters of the Marshall Plan. It is an excellent vehicle for truly levelling the the taxation field with respect to RRSP's and seniors retirement plans versus other public plans. Since it has been suggested at a time when there appears to be widespreed concern amongst our elected officials re pensions, I sincerly hope the Marsall Plan can be adopted prior to next year's Income Trust Tax comes in to affect.Such an adoption will go a long way in ensuring seniors will be able to maintain there standard of living as well as restoring faith in our political system.

(462) ILE PERROT QC: Resolve Jim Flaherty s income trust policy fiasco Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians Create a massive new stream of cash tax revenue for the government ($6 Billion per year) Provide a new source of revenue equal to 0.75% GST increase, but with no GST increase required Help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living
Halt the continued rash of takeovers of vulnerable income trusts (eg. state-owned Abu Dhabi Energy acquiring Prime West etc) Restore a level playing field between the 75% of Canadians without pensions (RRSPs) and the 25% of Canadians with pensions
Promote saving and investment in Canada by Canadians

(463) Strathmore: No more espousing of conservative party talking points. Time for real thinking, consultation and doing the right thing by our unresponsive MP's.

(464) Halifax NS: The sooner we can get the Members of Parliament back in the House and have the Marshall Plan immplemented in the 2010 Budget the better for the Canadian Economy.

(465) Waterloo ON: This plan should also be extended to RRIFS.

(466) Coquitlam BC: Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians Create a massive new stream of cash tax revenue for the government ($6 Billion per year)

(467) Qualicum Beach BC: It's time to fix the income trusts as we as seniors need to start trusting our government,You hurt us pretty darn good with your solution and it needs mending quickly. The marshall plan would be a great start.

(468) Maidstone Sask: Wonderful plan!

(469) Kelowna BC: I support the Marshal Plan because it will alleviate the double taxation of income trusts held in registered accounts.

(470) Belleville ON: I am 78yrs old and have been fighting throat cancer for 6yrs and survive on liquids. I do not have a pension and have a RRIF which was totally invested in energy trusts which I was advised to keep invested after the Harper Flaherty promise. My RIFF dropped about 80 thousand dollars and the cut the annual minimum payment in half. The result was that any enjoyment I hoped for was lost for ever.

(471) Waterloo, Ontario: This plan should also be extended to RRIFS.

(472) Coquitlam, BC: Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians

(473) Qualicum Beach, B C: It's time to fix the income trusts as we as seniors need to start trusting our government,You hurt us pretty darn good with your solution and it needs mending
quickly. The marshall plan would be a great start.

(474) Maidstone, Sask.: Wonderful plan!

(475) Ottawa, Ontario: I want you to consider this plan in the up coming budget. As a senior we have income trusts to augment our income which help to make life more livable in these low interest times. we have all ready has one small pension cut in 1/2 due to St Anne Nackawic going ouder and it looks bad for our pension from Abitibi/Bowater which is current in a struggle and it looks like it will also go under and leave a pension plan that is not ant where near topped up, thus Income trust are more important with there higher interest payout to our long term retirement.

(476) Calgary, Alberta: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget.

(477) Mississauga, Ontario: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(478) Vaughan, ON: I'm retired and will certainly miss the interest from trusts. This plan is a lifesaver.

(479) Woodstock, Ontario: To the Conservative Government of the Banana Republic of Canada.

Please stop the dictatorship and show Canadians that you can listen and act in their best interests. And, become transparent like you promised! See below.

As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(480) Cobble Hill, B.C.: As a small investor in energy income trusts I think this is a reasonable part solution to the income trust mess created by the Harper government.

(481) Toronto, Ontario: Please implement the Marshall Savings Plan solution

The tax on income trusts has imposed great injustice on all Canadians who do not have pensions and save or have saved for retirement using RRSPs. Significantly the politicians and civil servants who dreamed up this injustice are not affected.

The numbers that were supposed to have justified the tax were so damaging to the case they were supposed to support that they were and still are hidden from public view.

The tax has also caused the foreign takeover of Canadian business by foreigners to the detriment of the public revenue.

I wrote a letter saying that using modern computing power to have trust distribution income in registered accounts keep its dividend character for tax purposes when paid out to the account holders. I never received even an acknowledgement.

The official stonewalling to date on this issue proves that the people responsible for the tax know it is indefensible.

Please right this wrong.

(482) Kanata, ON: The very unfavourable taxation of 'future-former' income trusts in RRSPs needs to be addressed. The currently planned policy seriously discriminates against those who saved personally for their retirement through RRSPs and those benefiting from other types of pension arrangements. I respectfully request that this be corrected in the next budget.

(483) New Westminste, B.C.: As a retired Canadian I believe the Marshall Plan is an excellent idea and should be implemented in the next budget.

(484) Spier, Alberta: I urge the Canadian Government to adopt the Marshall Savings Plan. Canada's seniors, the most vulnerable in our society, who chose to place Income Trusts in their RRSPs and RRIFs based on existing legislation prior to the implementation of the income tax on Income Trusts are the big losers resulting from the tax on income trusts as they are subject to double taxation by virtue of not being able to claim the dividend tax credit. The Marshall Savings Plan corrects this inequity at no revenue loss to the Government.

(485) Whistler, British Columbia: P;ease, Please implement the Marshall Savings Plan solution.

I retired in 2004 and invested a large p[ortion of my savings in income trusts, only to have it taken away by the conservative decision to tax income trusts.

With this I returned to the work force, taking away a job that should be going to one of the country's youth.

The Marshall Savings Plan is a good alternative, one that can give us seniors a stable retirement, yet still provide the government with some tax income. If seniors can rely on consistent income, more would permanently retire, helping with the unemployment problems facing the country today.

With this I again ask that you please implement the Marshall Savings Plan solution!!!

(486) Chateauguay, Quebec: Please implement the Marshall Savings Plan solution.

(487) North Vancouver, BC: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(488) Powell River, bc: Please fix this mistake

(489) Montreal, Quebec: I it 1s my wish that, as a senior citizen, dependent substantially On my RRIF to live:-that the Marshall Plan be enacted and implemented before the SIFT Tax is implemented in it's present form. Not to do so would cause an unforgivable injustice to the senior citizens Of this country.

(490) Toronto, Ontario: Income Trust Distribution is very important to my retirement savings and I believe it is important to all Canadians as well.

(491) Vancouver, B.C.: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the 2010 budget. Direct Canadians retirement savings into real investments in the Canadian economy.

(492) Osoyoos, BC: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(493) Chilliwack, British Columbia: I support fully the so called "Marshall Plan". I had withdrawn my support for the Conservative Government ever since their introduction of the profoundly flawed Trust Tax. The acceptance of the Marshall Plan by the Government would enable me to vote for the Conservative Party again.

(494) Campbell River, BC: I have lost all faith in moron politicians. Honesty, Integrity and accountability, Yeah right! No majority ever for you slime buckets. This from a long time x reform and conservative supporter.

(495) Toronto, Ontario: Please implement the Marshall Savings Plan solution

In your political campaign you promised not to support additional taxes on Income Trusts.

Did you realize in breaking your pledge you have hurt mostly seniors, who were dependent on their monthly distributions to supplement their meagre pensions.

You should get a reputable firm of tax accountants to examine the results of your decision, as to whether you suffered a loss of tax monies, which you claim to be the reason for breaking your campaign pledge. So far, you have submitted a blacked out reply from the Finance Department.

As a senior, at the age of ninety, I would like to know a defence of your decision.

Since then, a solution to this problem is the introduction of the Marshal Savings Plan (MSP),as an alternative to the RRSP for solution to my pension problems. I agree wholeheartedly to this proposal.

xxx xxx
(retired, age 90)

(496) Whistler BC: While I understand the government's reason for halting the rapid growth in income trust three years ago, the way it was handled managed to cause maximum damage to investors who believed the governments promise not to interfere with income trusts and bought them. The government's actions were especially damaging to those who bought the trusts as a way of providing for their retirement. Then the government added insult to injury by announcing that income could be split with a spouse, but only income from a pension, the very type of income that income trust investors were least likely to have.I used to be a card carrying member of the Conservative Party and would donate annually. I have not renewed my membership in the party since the income trust legislation and I refuse to donate to the party until the Conservative government does the right thing by income trust investors.

(497) Regina, Saskatchewan: Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians

(498) Coquitlam BC: I do not have a pension plan , I am 62 years old , I am being taxed to death , help me

(499) West Vancouver, BC: Income trusts are a much needed solution for seniors without defined benefit employer pension plans (the vast majority of them) to generate a viable retirement income in an era of ridiculously low interest rates. They also generate a steady flow of tax revenue for government when those who receive the distributions pay tax on them at higher rates than corporations. And they fueled a burst of business growth as a "made in Canada" solution for many mid-sized businesses to access capital in the public markets to expand and create jobs. All theses positive aspects can be saved under the Marshall Plan.

The federal government should acknowledge the contribution made to this country by its older citizens who have worked hard, saved, and played by the rules. You can do this by supporting the Marshall Plan.

Please also learn more about David and Lorraine Marshall. The are millions more in the same position. Please do the right thing for them, our tax base and future economic growth.

(500) Ottawa, ON: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.



(501) Terra Cotta, Ontario: This looks like a "win win" for everybody.The public pension plans are a major source of angst to all those who don't have one. In my my next lifetime I definitely want a PS job. You can't get fired and you have a gold plated pension. In the mean time it's back to picking Trusts that will survive the switch without too much loss of distribution.

(502) Calgary, Alberta: Please implement the Marshall Savings Plan solution

The Marshall Savings Plan will:
Resolve Jim Flaherty s income trust policy fiasco
Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians
Create a massive new stream of cash tax revenue for the government ($6 Billion per year)
Provide a new source of revenue equal to 0.75% GST increase, but with no GST increase required
Help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living
Halt the continued rash of takeovers of vulnerable income trusts (eg. state-owned Abu Dhabi Energy acquiring Prime West etc)
Restore a level playing field between the 75% of Canadians without pensions (RRSPs) and the 25% of Canadians with pensions
Promote saving and investment in Canada by Canadians
Direct the vast pool of Canadians retirement savings into real investment in the Canadian economy
Avoid the systemic risks to our economy from toxic investments like ABCP and Manulife's Income Plus

(503) Brampton, Ontario: As a retiree, I have not forgotten how much money you have stolen from me (Over 2 years of living expenses) when you went back on your word on Income Trusts. Do the right thing and give us seniors a dignified retirement by passing the "Marshal Plan". I will always remember what happened.

(504) London, Ontario: Why the fraud?

(505) London, Ontario: Please reverse the stance on income trusts, we seniors need the income they produce to pay our bills and support ourselves.
I believe the governments would receive more taxes by keeping the income trust structure and taxing those that own these income trusts and create more Canadian jobs as these structures are allowed to grow.

If they wished, they could legislate that income trusts not be allowed in any deferred tax vehicles such as pension plans if the revenue is need immediately. They also get 25% withholding tax on any non Canadian holders of these plans which is better then having them taken over by some foreign entity that will end up paying no taxes in Canada what so ever.

(506) Sherwood Park, Alberta: Any plan that lessens the huge losses suffered by seniors and other investors is welcome. I personally, have no income trusts in our RRSP, but even then have lost a lot of money. I think the Harper government owes people that actually pay taxes a lot more than he has given to this time.

(507) Edmonton, Alberta: excellent plan, I support it 100 per cent.

(508) Caledon Ontario: Restore a level playing field between the 75% of Canadians without pensions (RRSPs) and the 25% of Canadians with pensions

(509) Terrace Bay, Ontario: This would seem to be an excellent way to start to earn back some of the respect lost by the ambush of the most vulnerable members of society - those whose sole source of income are the fruits of their own careful investment choices. Broken promises (i.e. - lies) have no place in government, especially when they are so blatant and damaging to such a wide sector of the people.

(510) St. Albert, Alberta: For many years of my wife & I owned and operated a small business. Since we were among the estimated 75% of Canadians without pensions, we invested heavily in income trusts for our retirement income, based on Harper's election promise/lie to not raid senior's nest eggs by applying any new taxes to them, which he broke 10 months later. The net result of this reneged promise and the unproven allegation of tax leakage (witness the finance department's 18 pages of blacked out documents, end result of foreign takeovers of trusts etc.) was an irreplaceable loss in all of our retirement accounts of over $300,000 and a much reduced retirement income.

Please do what is the right and responsible thing to do---resolve this income trust fiasco and implement the proposed Marshall Savings Plan to restore the chance of seniors to provide for themselves the retirement income that we diligently planned and saved for most of our lives

(511) London, Ontario: Well done. Thank you.

(512) Toronto, Ontario: Flarety should be tar & feathered & dragged by horse thru the streets of Ottawa.

(513) regina, aask.: I trusted the government when they said they would leave the income trusts as they are. They said that they where worried about other corp. like banks insurance and other large corps converting. A simple solution was to draw a line in the sand and say NO MORE trusts.As a retired pensioner I rely on my rrsp for my living. Please change your law to help us pensioners.

(514) DUNCAN B.C.: PLEASE IMPILMENT THE MASHALL SAVINGS PLAN SO THAT I CAN TRNS. MY L.I.F. AND R.I.F. INTO IT AS THEY ARE LOADED WITH INCOME TRUSTS. THANKS

(515) OTTAWA, ONTARIO: This misguided taxation blunder knocked over $300,000 out of my retirement savings. Our annual income was reduced by 35%. This now makes me eligible for Old Age Security which was formerly all clawed back.

Mr. Harper your inability to admit a mistake reminds me of the child's story "The Emperor's New Clothes"

(516) Joliette, Québec: J'espère que vous voudrez aider les gens à la retraite qui n'ont pas de pension comme les élus. Nous avons besoin d'un revenu minimum et de bénéficier du revenu d'entreprises stables et matures qui ne visent plus à grossir.

(517) Aylesford, Nova Scotia: I support Canadian Business through my investments and pay my FAIR SHARE of taxes as well, I urge you to do the same for all Canadians.

(518) Mississauga, Ontario: Unbelievable is the only word I can think of to describe what Harper/Flaherty have done to Canada through their trust unit debacle. To blast a $35 billion hole in the Canadian economy is staggering at best. Flaherty shouldn't even be allowed to call himself a Canadian any more after that. Get rid of Flaherty and reverse that stupid trust unit decision.

(519) Delta, BC: The implemention by our government of the " Marshall Plan" as outlined by Diane Francis in the Financial Post would in a certain way rectify the ill advised Income Trust Fiasco.
The promise before the last election by the Harper government not ot change the Income Trusts let many of the older Canadians vote for Stephen Harper. But then the Harper Government broke that promise. This act caused much damage to the financial security of the pensioners and retirees. It also causes much loss of revenue for our tax system. It would be nice if our government could demonstrate courage and correct a done mistake.
The old canadian people deserve good pension plans as much as the members of our government do, who constructed phantastic plans for themselves, mostly supported with tax payers money.

(520) Delta, BC: The government's broken promise regarding the Income Trusts could be rectified by the implementation of the "Marshall Plan" as oulined by Diane Francis in the Financial Post.

Would it not be nice to see the responsible government persons of the Income Trust fiasco come to their senses and have the courage to reverse an ill advised government decision that caused canadian old age pensioners so much damage and insecurity. We old people would love very much to spend the rest of our life in financial security like the members of our government, who provided phantastic pension plans with taxpayer money, for themselves.

(521) DEEP RIVER, ONT: In the past I was a Conservative supporter to the extent of contributing $200. a year.

Since the fiasco my support has gone south big time. Dont the tory brain trust realize that they lost many of the grass root supporters like myself with their turn about.

I support this common sense Marshall plan.

(522) Toronto, Ontario: Please read the letter that I sent today to the Executive Director of the Pension Investment Association of Canada entitled:

The manifold inequities of the Tax Fairness Plan

http://caiti-online.blogspot.com/2010/01/letter-to-pension-investment.html

It tells a sorry tale of gross discrimination between the 25% of Canadians (like you) with pensions and the 75% of Canadians without pensions, who are the MAJORITY that your tax policy on income trusts is abusing, unless you rescind the income trust tax and/or adopt the face saving Marshall Saving Plan.

There is no other choice. The "do nothing" choice is merely a choice of your opting for tyranny.

Thank you,

(523) Hanmer, Ontario: As far as I am concerned, the government stole my money with its illegal income trust policy. With no proof of any tax leakage, outright fraud would be a good charge to make. If I had the wherewithall of doing so, I would take the government to court.

(524) Sheguiandah, ON: Do the right thing and implement the Marshal Plan before you destroy the income of retired folks. The taxing of income trusts was just stupid so fix it now

(525) Ottawa, Ontario: Question for Flaherty

On Wednesday of this week, Jim Flaherty was asked a questions about reports that once all these income trusts businesses are forced to convert to the corporate model where they will avail themselves of the endless tax loopholes of the corporate model (like interest deductibility etc) which result in corporations only paying average taxes of 6.2% (according to StatsCanada, and less once Flaherty’s 22% corporate tax cut kick in) he said;

“The change to the rules in income trusts was to ensure there was fairness in the tax system, and we will continue to aim for that goal.”

If that’s the case perhaps someone could ask Flaherty the following;

“What incentive is there for the income trusts that were acquired and taken private by the various pension funds to convert to corporations and start paying some taxes, given that they will not incur that 31.5% tax, as would have been the case if they were held by the public and given that you exempted these businesses from the tax? How does this ensure fairness in the system, in view of the following tax dodge driven takeovers to date (with more likely to come)?

OMERs: Teranet Income Fund $2 billion (September 2009)
Caisse: Legacy Hotel Income Fund $815 million (August, 2007)
OMERs: Golf Town Income Fund $237 million (August 2007)
PSP: Thunder Energy Trust $419 million (April 2007)
BCIMC: CHIP Income Fund: $1,265 million (August 2007)

How much “tax leakage” will this be costing all taxpayers? Is CAITI’s estimate of $162 million a year from these 5 transactions (alone) correct?

If so, how is that possibly fair or equitable? Why do pension funds get to directly access the pre-tax cash flow of active businesses, but RRSP investors can not? Why do the 25% of Canadians with pensions get a better deal than the 75% of Canadians without pensions? Are you trying to create class warfare? Why the two-tiered pension system? I thought RRSPs were created 50 years ago by Liberal government to provide for a level playing field?

(526) Calgary, Alberta: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(527) Ajijic, Mexico: I considered then and still consider the tax changes made was a direct attack on the elder investors who held a lot of the income trusts directly in their RRSPs and RIFs to supplement their bond income.There was no grandfathering or warning of a pending change and gave no chances to a large investor segment of the population of Canada,some of which I am sure were depending on the increased monthly income to pay their monthly living expenses.I wonder sometimes if elected politicians somehow turn off their compassion and caring for others as soon as they get elected to an office.Grey power will get them eventually I guess but in different eras they would be taken out behind the barn and put to the wall.Regards.RMH

(528) Surrey, BC: I ask that serious consideration to the "Marshall" proposal. It would do much to remedy a huge financial mistake that I made when I was a Reform/Alliance/Conservative Party member.

I had not only innocently believed a Harper election campaign promise surrounding Income Trusts, but trusted it would be preserved by the February 2006 Election. Otherwise, I would not have purchased an Income Trust during the days of the Campaign promise - another a few days after the Election and a third one a few months later.

Needless to say what happened next to my reallocation of lifetime employment savings to these Income Trusts - except Party membership was resigned at the soonest time after the "Flaherty Halloween 2006".

I realize the Conservative Government has a mindset of having done right - but time and the wreckage to the economy of Canada and retirees like myself flowing from the Halloween event suggests otherwise. I earnestly believe the "Marshall" proposal will set things right and we can all put the past behind us and get on with other things.

(529) Pender Island, B.C. Few chances are ever given to rescind destructive policies to both individuals and our country at the same time.

This is the Conservative Party's chance-one chance.

The destruction is done but there is this one chance to save some face.

(530) Regina, SK: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(531) Wiarton,Ontario: Please implement the Marshal Plan to at least undo some of the damage caused by your misguided income trust .I lost over 50% in RESP savings just when our two sons were about to use it,not to mention what we lost in our retirement savings, Doing nothing is easy, fixing this fiasco will take guts ,if you have any!

(532) Calgary, AB: Income trusts were, and are, a much needed investment vehicle for Canadians' retirement, but they are also a form of enterprise organization that encourages fiscal discipline and unitholder participation.

At no point prior to October 31, 2006, were studies done that indicated lower performance levels for trusts in any actual financial measurement or ratio.

The fact is that income trusts put pressure on their corporate competitors to add value for their shareholders that equaled the value income trusts provided to their unitholders. Rather than figure out how to compete, corporate interests used their proximity to power to change the playing field. This should have been a flag that corporations needed to change, not that they needed to be protected by the government ending income trusts.

The government protected the corporate interests at the expense of Canadians, including many retirees. This Marshall plan would mitigate continued damage to Canadians' retirement funding caused by the government giving in to corporate interests.

(533) Newmarket, Ontario: The Tax Fairness Plan that the Conservatives introduced cost The Conservaties two votes that they counted on for fifty years. Probably the biggest slap in the face was to see Manulife able to raise a large amount of money to help bail them out of a cash crisis
using the income trust as a model to raise many dollars.This was needed only because of a decision to not hedge the stock market probably refered to as being bone headed on Manulife's part and they will pay for this for many years to the consternation of the investors in the stock.[fortunately I did not own any of their stock]

My wife and I are forced to invest in much more volatile stock than we would wish to and take more chances than we wish to because we are on the hook for the pensions of Government employees and Teachers if their plans fail to provide them with the pensions they have negotiated it will be pay up suckers.

I could go on much longer but do not wish to bore you with repetition.The best comparison for Flaghtery would as a comparison to a Hog on Ice.

(534) Hamilton, Ontario: Yes I am proud to be a Canadian Senior. We have so much money for retirement that our government (Harper) through its finance minister (flaherty , the one without a clue) has decided to tax the meagre resources of us rich seniors. How wonderful. Now Brent Fullard has to invoke the "Marshall plan" against our own government (Harper)

To be a physician, or airline pilot, or shoe-maker, or plumber, one must undergo rigorous training. BUT in the harper government, all you need is someone with a law degree and NO experience in finance to be finance minister. This is what we have in Canada; a G7 country. A law degree DOES NOT qualify anyone to do anything but practise LAW, When it comes to FINANCE, a lawyer is a MORON and the person delegating such tasks (Harper) is also a MORON. The ONLY outcome of a moronic delegation is a moronic decision like TAXATION of Trusts which have served Seniors very well under Jean Chretien and Paul Martin.

Delegating such important duties to absolutely INCOMPETENT ministers (Flaherty) results in this crisis and catastrophe we now have. Thirty-five Billion dollars in Trust equity was wiped out overnight by flaherty's obscene action. Flaherty responded with "well its only paper money". Is this guy for real? Is he really THAT stupid? Did he get his "law degree" as a prize in a Cracker Jacks box? This is not even Econ 101. Does this "minister" not know that value in a Canadian dollar depends on CONFIDENCE in the dollar? What is CONFIDENCE? Confidence means "with faith". From Latin cum (with), fidere (trust).
It means that if there is a lot of confidence that a dollar, when presented for goods or services, will result in a reasonable amount of return. Its that simple, and flaherty, as finance "minister" he should know that. Does flaherty think that a twenty dollar bill is intrinsically more valuable than a five dollar bill? (Maybe the ink was more expensive).

Therein lies the basic problem; elect an incompetent leader (harper), who appoints an equally incompetent finance minister (flaherty), who makes equally incompetent decisions and Canadian Seniors have to bear the brunt of all this incompetence. Seniors who have BUILT this country to the level of a G7 nation, with blood, sweat, and profuse TEARS. Seniors who have raised the standard of living in Canada. Seniors who have paid millions in taxes. Now the same seniors are scurrying around, trying to preserve our life-savings from an administration which is absolutely and totally inept.

There can be ONLY ONE SOLUTION to this manufactured problem. RETURN THE TRUSTS to their former tax status, before flaherty introduced his bill to tax them. After all, was it not Harper HIMSELF who stated that "the Trusts would not be touched" in the election? Then turned around and did just that. Being incompetent could be blamed on many things like, lack of brain power, lack of Mother's milk etc.. But to be a LIAR (Harper) means to lack a SOUL.

(535) Calgary, Alta.: Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians

Create a massive new stream of cash tax revenue for the government ($6 Billion per year)

Help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living

(536) Hamilton, Ontario: This would go a long way to removing my disgust at the Conservative knife in the back regarding their "promise" to keep the income trusts, and then Flaherty's joke on Halloween night. bad. bad. bad.

(537) Mississauga, Ontario: Please consider implementing the Marshall Savings Plan as a compromise to the new income trusts tax. This is a win win situation for us all.

Please read Income trust fix: the Marshall Plan - Diane Francis, The National Post
http://tinyurl.com/dianefrancis

Thank you,

(538) Calgary, Alberta: 25 January 2010

As an unemployed Petroleum Engineer since November 2006, I am a statistic that falls through ALL the cracks.

Prior to the Conservative Tax Fairness Plan of October 31, 2006, I consulted to Energy Trusts specifically for 10 years.

With destruction of Energy Trusts I, like many of my colleagues, were the first casualities of the Conservative Tax Fairness Plan. I am 60 years old with 30 years experience in the oilpatch - my career future and purpose have been eliminated.

Believing Mr. Harper's 2005 promise not to attack Income Trusts if he became Prime Minister, much of my 25 years of RRSP savings were allocated in 2006 to Trusts to carry me through retirement - SURPRISE ADMISSION - unlike an Employee, Consultants do not benefit from a Severance Package, a Pension or Employment Insurance.

Forgive me for questioning the Government's ethics, BUT how could ANY Conservative agree to double taxation of Trusts within RRSPs and maintain empathy or conscience? Reverse this Tax Unfairness Plan and restore honour and credibility to Government.

Regards
xxx xxx, P. Eng.
Unemployed Petroleum Engineer
Calgary SW (Stephen Harper's Riding)

(539) Calgary, Alberta: I do not believe that income trusts should be abolished as Flaherty has indicated. I, as well as thousands of other prudent Canadians, were relying on this investment instrument to provide income for our retirement. I was trying to help the government by providing for my own retirement and not relying on our government for handouts. The reasons for abolishing the trusts and reneging on previous promises not to do so are absolutely wrong! This policy needs to be reversed or we need a new government who listens to it's people and keeps it's promises.

(540) Victoria, BC: "Please implement the Marshall Savings Plan solution"

As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(541) Riverwood, IL: this is your chance to do the right thing; you now know what that is as you have all the facts

(542) Kitchener, Ontario: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(543) Montreal Quebec: Goldman Sachs is a large brokerage company who disapprove of income trusts as investors buy them and hold on to them. They have a "deep throat" in Canada[s finance department and are pushing to have trusts taken out of circulation. We are victims of a world-wide company who conspires everywhere to punish citizens and make big profits. They were very destructive when then had one of our senior civil servants running the operation in Russia. The population suffered but G-S didn't. Check it out on Wikepedia!

(544) Calgary, Alberta: This fiasco MUST be fixed. The ability of this country to fund its increasing demographic problem (people who are getting older and retiring) depends on it.

(545) North Gower, ON: Changes to the income trust were devastating for us. And now, to add insult to injury, a German company is planning to build wind turbines around our property, which will result in a 30% drop in value.
We want government to HELP us, not wipe us out. Please!

(546) Winnipeg, Manitoba: Income Trusts were my retirement. They are now being sold off to foreign interests

I will no longer be able to retire when i had planned. Possibly never.

My portfolio lost over half its value on that fateful day, and has never recovered

Please give us this. For all the seniors and all those who are soon to be seniors

(547) Abbotsford, BC: After the reversal by Harper my locked in income fund lost close to seventy percent of its value. The taxes I was paying on the funds I was taking out fell to a fraction of what I was paying. Why,why why!!!

Based on lies.. the gov lost along with me. Still looks like a stupid move to me.

There are millions of gray powered seniors in this country that plan to vote you out of office. Ed fast is my MP here in Abbotsford. I hope he has a job to go back to. I will remember that i did not get an answer from him on this trust fiasco.

(548) North VANCOUVER, British Columbia: I do not expect the Goons in Government to do anything the least bit sensible.

The degree of my cynicism and distrust of Government has become extreme

If this were ever to be acted upon,that would go some way to assuage these very serious doubts I have as to our entire system

(549) Hamilton, ON: As a senior citizen, I strongly urge you to correct the pending problem of unfair taxes on Income Trusts which was based on fallacious analyses. The conclusion of tax leakage because of the Income Trust model was wrong as verified by reputable Canadian financial and accounting institutions. A more equitable solution would be the adoption of the Marshall Plan which I believe will result in a win-win situation...for the government, and for myself who is trying to make ends meet through personal savings.

(550) Toronto, Ontario: As a 63 yr old Canadian who lost several thousands of $ in the Income Trust fiasco, and on behalf of my 98 year old Mother-in-law, who saw her meager savings drop 50%, I call upon you to do the right thing and ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution. So do I. I wholeheartedly agree with the following.

(551) Rodney, Ontario: Hello Everyone

On the night of Halloween 2006 I was sickened by the Flaherty announcement of the Tax Fairness Plan--it devastated my wife & I , as I am sure it did with many others who had believed our Prime Minister when he publicly recommended income trusts for our portfolios during his 2006 election campaign.

Since that evening , the devastation has circled ever wider affecting not only us but every other Canadian as the erosion to the tax base has continued to grow larger as trust distributions & foreign takeovers continue to mount.

The unfairness of the so-called "Fairness" plan can be demonstrated in the fact that pension funds & others can own trusts tax free whereas I cannot within my own personal pension fund or RRSP as it were--this is appalling & can only explained by the fact that Mr Flaherty needed an ally in the NDP , the provinces & the territories to bring this tax into effect.

The double taxation within registered retirement accounts is another issue which has gone on for far too long & is something that if we , as private citizens tried to do , would result in criminal prosecution.

The Marshall plan will correct many of these inequities & truly level the playing field while at the same time boost the tax coffers at a time when they are most needed.

We must give this idea a chance--it will , if nothing else , give us a good starting point for a possible resolution.

(552) Lachute, Quebec: I am in favour of the Marshall Savings Plan and strongly recommend that it be implemented

(553) Kelowna, British Columbia: I support the Marshal Plan because it will alleviate the double taxation of income trusts held in registered accounts.

(554) Rodney, Ontario

As a proud Canadian I have been very saddened, disgusted and just plain ticked off by our political leaders.

As a proud Canadian I am disheartened to know that there has been a massive sell off of our Canadian businesses.

As a proud Canadian I am worried about the loss of democracy when blacked out documents are considered the norm and proroguing the government is called for reasons less than stellar.

As a proud Canadian, I am sorry for the number of other proud Canadians who have worked their entire lives trying to accumulate enough wealth to be self sufficient in their "golden years" so that they and I do NOT have to rely on our government for monies that can be used for the very less fortunate. On October 2006, after lying directly to the Canadian people regarding income trusts, the Conservative government has destroyed the savings of thousands of would be independent retirees.

As a proud Canadian I am asking the government to consider the "Marshall Plan" as a viable solution for any Canadian trying to fund their own retirements.

(555) Ottawa, Ontario: Please implement the Marshall Savings Plan solution

The importance of implementing the Marshall Savings Plan, is that it will
meet the concerns of the Tax Leakage claim from the government of owning income trusts in
your RRSP's.

Every year I have to claim all my income trust distributions in my non-RRSP account which are taxable.

90% percent of my pension is non public or private, so this decision greatly affects me and my family.

Global & Canadian private equity and pension funds are taking these trusts private which will result in affecting pensions to 75% of Canadians.

By taking these income trusts private they will actually cause tax leakage.

Therefore it is important for implementing the Marshall Savings Plan to:

Resolve Jim Flaherty s income trust policy fiasco

Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians

Create a massive new stream of cash tax revenue for the government ($6 Billion per year)

Provide a new source of revenue equal to 0.75% GST increase, but with no GST increase required

Help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living

Halt the continued rash of takeovers of vulnerable income trusts (eg. state-owned Abu Dhabi Energy acquiring Prime West etc)

Restore a level playing field between the 75% of Canadians without pensions (RRSPs) and the 25% of Canadians with pensions

Promote saving and investment in Canada by Canadians

Direct the vast pool of Canadians retirement savings into real investment in the Canadian economy

Avoid the systemic risks to our economy from toxic investments like ABCP and Manulife s Income Plus

Thank you from a concerned Canadian about his personal non public or private pension plan.

(556) Toronto, ON: There is no doubt that the existing Income Trusts legislation is groundless, unfair and a cruel affront to millions of Canadians who counted on Income Trusts for their retirement savings. The proposal for the Marshall Savings Plan will correct the injustice and must be implemented.

As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is made law in the nearest future. Diane Francis (Editor, Financial Post, whose credentials in this regard are beyond dispute, considers the Marshall Savings Plan a "brilliant" solution.

The Marshall Savings Plan will:

- Resolve Jim Flaherty's income trust policy fiasco.
- Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians.
- Create a massive new stream of cash tax revenue for the government ($6 Billion per year.
- Provide a new source of revenue equal to 0.75% GST increase, but with no GST increase required.
- Help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living.
- Halt the continued rash of takeovers of vulnerable income trusts (eg. state-owned Abu Dhabi Energy acquiring Prime West etc).
- Restore a level playing field between the 75% of Canadians without pensions (RRSPs) and the 25% of Canadians with pensions.
- Promote saving and investment in Canada by Canadians.
- Direct the vast pool of Canadians retirement savings into real investment in the Canadian economy.
- Avoid the systemic risks to our economy from toxic investments like ABCP and Manulife's Income Plus.

I pray and hope that I and all Canadians will not be disappointed.

(557) Port Alberni, B.C.: Please at the very least implement the marshal savings plan although this will not bring back my lifes savings that were lost when our wonderful conservative government broke their election promise that they would never tax income trusts.It would at least level the playing field.How can the government and the media justify its decision to tax income trust and say they cause tax leakage then present 18 pages of blacked out documents. If there is tax leakage why are reits allowed to remain as trusts.And why are pension plans able to buy out trusts and not pay taxes.This is an oportunity for the government to reverse the damage it has done to seniors lifes savings and let us live our final years in dignety and not be a burden on the government and the younger generation.this is a win win for all pleas read all the above information.Yours truly

(558) : Calgary, Alberta: As a concerned Canadian Senior and an Income Trust investor within a tax sheltered plan, I call upon you to consider introducing the Marshall Savings Plan in the upcoming 2010 budget. Diane Francis (Editor, Financial Post)and other financial experts have supported the Marshall Savings Plan as a solution.

(559) Calgary AB: I support the concept of creating a new investment vehicle called the Marshall Plan. Weather this plan is created from scratch or it's policies be implemented into existing RRSP, LIF & RIF plans is imaterial. What is material is the proposed changes be implemented NOW. Please read the informatio below regarding the Marshall concepts.

(560) Etobicoke, Ontario: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(561) Ste-Anne-des-Plaines, Québec: Il est temps que les Canadiens à la retraite sortent de leur mutisme afin de protéger leurs acquis. C'est notre droit en comme citoyens de dire à nos gouvernants ASSEZ c'est ASSEZ !

(562) North Bay, Ontario: "Please implement the Mashall Savingd plan Solution"

I agree 100%, with thi Plan, as this would resolve the 2006 Income Trust mistake.

I personally will be affected, as I carry Income Trusts, in my RRSP, which I cannot transfer to Tax Free Account.

(563) Calgary, Alberta: We are appealing to the Harper Government to introduce a new form of retirement savings account in the upcoming 2010 budget that will permit the RSP-held Income Trusts to be moved to a new account and be only taxed once instead of twice as in current pending legislation. Thanks to the Conservative Party our retirement savings were devastated by the Income Trust fiasco which Mr. Harper promised not to implement however as we all know, Mr. Harper went against his word causing a substantial loss to thousands of seniors.

(564) Brighton, Ontario: The initial capital loss we suffered as a result of the broken promise was in the area of $200,000.00. Subsequently, of course, distributions were reduced resulting in less income, which was our major source of funds and which resulted in taxes for the government. Since the account was in 'margin' additional equities had to be sold to balance the books.

The effect on health is hard to measure. Suffice to say that a healthy 73 yr.old is now an unhealthy 76 yr.old expected not to last another year due to cancer.

In my opinion Oil and Gas Royalty Trusts should have been treated in exactly the same way as REITS and the government should not only correct its error but make restitution to those it has damaged. The additional damage caused by the broken promise resulted in the necessity to take a reverse mortgage on our house.

That the government is not recalled on this matter alone destroys faith in the political system.

(565) Medicine Hat, Alberta: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(566) Caledonia, Ontario: I am particularly mad about the term "tax fairness" by Mr. Flaherty to excuse the damage he has done to my retirement account. He is not stupid. He knows that taxing trusts held in retirement accounts will result in double taxation & at higher rates. They just don't care.

(567) Richmond, BC: I see that Jim Flaherty was in the press again justifying the taxing of income trusts by raising the myth that the government would be losing $500 million dollars per year in taxes if the income trusts were left as they were. Even if we stretch the point and assume that he is correct, it would take the economy and taxpayers 70 years to make up the $35 billion in losses suffered by his taxing of trusts. Only someone weak in the head would think this is fair or else does not care that many seniors lost a significant amount of their lifes savings.

There is a large amount of press these days about ponzi schemes and the fact that the perpetuators are convicted and sent to jail. Just because Harper and Flaherty are in government they can get away with causing Canadian investors to lose billions of dollars. As the taxing of income trusts has been shown not to be in the common Canadian good, Harper and Flaherty should also be thrown in jail for this travisty. Do they not know any families or the elderly who have suffered as a result of their doings?

The Marshall Plan for Trusts would at least go part way to alleviate some of the suffering they have caused.

(568) Markham, Ontario: As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

(569) Combermere, Ontario As a concerned Canadian I call upon you to ensure the Marshall Savings Plan is implemented in the upcoming 2010 budget. Resolve Jim Flaherty s income trust policy fiasco

Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians

Create a massive new stream of cash tax revenue for the government ($6 Billion per year)

(570) Ottawa, ON: Its now clear that the Minister of Finance did not have all the facts when he made his decision to change the taxation of income trusts. A good example is the so-called "tax-leakage" rationale that has proven to have no foundation - or at least none that the Minister of Finance can explain. Many Canadian seniors have been hard hit by the il conceived and simply wrong moves mad eby the Conservative government on this issue and the Marshall Plan pffers an opportunity for the government to undo their error and do the right thing for Canadians.

(571) Oakville, Ontario: Dear Barry Critchley: Thank you from the bottom of my heart for having the courage and integrity to bluntly state the facts about the "mess and real income-tax leakage" created by the Conservative Government, that impoverished so many innocent Canadians who took Steven Harper at his word when he solemnly promised "...Never to raid senior's nest eggs.." before he was elected, then turned around and did exactly the opposite, eliminating $35 billion from our savings, and then falsely claimed his actions were designed solely to "level the playing field"... and when forced to reveal his calculations proving his spurious claims of "Tax Leakage" shamelessly released 18 pages of blacked out documents as proof.

It is really wonderful to have your support in exposing Harper and Flaherty's lies, deceit and plain dishonesty.

Bravo!

Barry, unlike the CBC and Globe & Mail executives, afraid for their paycheques who refuse to ask Harper to prove his tax leakage claims, you really have ethics sir!

Thank you also for alerting your readers to the remarkable all- encompassing benefits contained in the Marshall Plan.

I only hope our under-qualified Prime Minister, and our equally unqualified Minister of Finance, have the sense to implement the "Marshall Plan" for the good of all Canadians as opposed to feathering their own nests.

Congratulations and bless you!

(572) Collinwood, Ontario: HARPER SHOULD COUNT 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

(573) Vancouver, BC: Does anyone in the Conservative Party realize that the Unit Trust issue might be the difference between a continuing minority government and a majority government?

Mr. Fullard may be giving the Party the face-saving escape it so desperately needs.

(574) Castlegar, BC: Letter To The Editor

A Marshall Plan for Income Trusts

On October 31, 2006 Mr. Flaherty, our Minister of Finance, declared that the Federal Government would start double taxing Income Trusts beinning in 2011, as he claimed that income trusts were a source of tax leakage. When asked to supply a proof of tax leakage he produced 18 pages of blacked out documents, which is proof of nothing except the government's non-accountability.

Since then, 51 trusts have been taken over by foreign entities, e.g. Harvest Energy was taken over by the state owned Korean National Oil Company. These groups pay little or no tax to Canada while income trust investors did pay significant tax on these businesses earnings at an average rate of 38%. Income Trust investors (in their RRSPs) will now be taxed an extra 31.5 % over and above what they pay now. A double taxation for average Canadians, whereas pensions do not. It has been estimated that as a result of these takeovers to date, Canada will lose $1.5 billion dollars in annual taxes, which is three times the size of the alleged tax leakage at the outset.

There are now 169 income trust businesses left, on whose earnings Canadian investors pay $6 billion in annual taxes to Revenue Canada. In order to save these businesses from a similar foreign takeover threat, an innovative proposal has been made for Stephen Harper to adopt in his upcoming Budget 2010. This proposal, known as the Marshall Plan, has been hailed by Diane Frances ( Editor-at-Large with the Financial Post) as a "brilliant" solution that would lead to a win-win situation for the Canadian government and all Canadian taxpayers If implemented, the Marshall Plan will preserve $6 billion in much needed tax revenue to help address Canada’s deficit crisis and will preserve an essential investment for the 75% of Canadians without pensions., thereby addressing Canada's pension crisis as well. More information about the Marshall Plan solution can be found at MarshallPlan.ca

Stephen Harper prorogued Parliament, saying that he needs to focus on the economy and recalibrate his policies. Never could a decison be easier to make that this one. Failure to adopt the Marshall Plan in Budget 2010 will mean the cetrtain loss of $6 billion in taxes and the equivalent of 2.5 million job losses, as the income from these essential investments is the equivalent of either a part time or full time job for the 2.5 million investors who, like me, are dependent on this income to provide for the necessities of life.

Submitted by: Bob Bertuzzi

(575) scarborough, ontario: I am not sure if Mr Harper & Mr. Flaherty realize how many senior votes they lost over the fiasco and I am not sure if they are aware that we have not forgotten. Perhaps, if they were to adopt the marshall plan or something similar they may get some of those votes back.

(576) Vernon BC: I am one of the many seniors who do not have a pension plan. My late husband and I saved all of our working years for our retirement. Now, my income has been cut drastically because of the impending double taxation on income trusts. Many of the trusts have already been sold off to foreign interests and more will be shortly, with a loss of tax revenue to Canada. I, and many other seniors, will have to then rely on the government to support me. It seems to me that the government does not want people to provide for their own retirement. Spend your money, then collect a pension from the government! OR IMPLEMENT THE MARSHALL SAVINGS PLAN.

(577) Surrey B.C: I will skip the honorifics like Dear Sir,

Since 2006 the governmemt of Canada has displayed more and more symptoms of corporate and political collusion i.e Facism.
This was brought home to me on the reversal of the Harper neo-cons of the trust election promise,which I had believed and invested heavily in trusts,which subsequently lost more than 20% of their value.

On e-mailing my conservative M.P five times and called his office three times without a return message or call,I realised the farce of representation.
I have never recovered those losses and then was a victim of the Wall St Banksters then the Bay St Banksters who sold off all my trust-dividend holdings to recover some margin,when they could have sold off the non dividend bearing stocks.
All of these actions have been demonstrated to have been consciously colluded,leaving me with about 20% of my original funds.

I have gone from being totally self sufficient and retired at 55 to being concious of every penny and my wife having had to return to work on a contract basis,i.e no benefits.
With us being only one big expense away from disaster.

As they say beware what you wish for,I had helped for a number of years in the creation of the reform party.
My worst fears were met with the amalgamation with the Conservatives,couple with the dogma of the christian right being allied with the neocon elite,which has happened in all of the "anglo" world.
Corporate greed is now unmasked, ALL candidates for office are bought,compromised and controlled.The USA being the most egregious example,with Canada's Harper playing poodle as Blair did in Britain.

"Oh Canada" is so appropriate for us who despair that our future lies in the hands of trans-national corporations who owe no loyalty to this country,and the individuals who are in their pockets.

(578) Calgary, Alberta: I have found that most of my income trust uniys in my RRSP have been sold to foreign companies. We continue to sell our country at bargain basement prices to foreigners.
My income has been cut in half due to this. and I am afraid I will have to be applying for a old age supplement soon.

(579) Crabtree, Québec: SVP aidez-nous à survivre avec un revenu décent et ce, sans coût pour le gouvernement!

(580) Carleton Place, ON: I am in full support of the "Marshall Plan" or anything else that will undo the damage wreaked by Harper's government on the retirement plans of millions of Canadians.

I hope there will be a federal election before the year is out so we can boot these fanatical right-wing Republicans (for that is what they are) out of office, return the Liberals to power and demand a reversal of the taxation of income trusts.

I will never understand why the finance minister couldn't be happy with the taxes I would have paid on the distributions I receive from income trusts.

(581) Woodbridge, Ontario: Although my wife and I got burned badly by Harper's income trusts fiasco as you call it, because I sold all our stocks and moved our money into trusts after he got elected.
I am afraid this country is run by gutless politicians (regardles of party) that are only interested at filling up their pockets and their friend's pockets. And that our cries maybe falling on death ears. What this country needs is someone like Hazel in Mississauga that works for her people!!! Until we find someone like her I have no faith whatsoever in our elected officials.
Sorry guys for being so blunt but that is my honest opinion.

(582) stouffville, ontario: i certainly support this idea

(583) Calgary, Alberta: If there was a good time for the government to reconsider their plan to impose taxes on income trusts,this is the time. The government ought to know that the economic situation since October 31 2006 has changed drastically which makes the impact of their plan even worse than it has been when it was first perceived. Economic hardships are noted across the country and it is the government's duty to alleviate this unjust burden off the majority of pensioners in this country. It would be a sad day in our history if an elected government turns blind and deft to the predicament of people caused by irrational and unjustified behaviour by such goverment.
I sincerly hope that the goverment has the moral courage to correct its mistake and save a lot of canadians from unjust hardships.

(584) Toronto, Ontario: Flaherty's mugging of the Innocent and voiceless is a disgrace and certainly a showpiece example of "Going Ottawa" : by any means get elected to 'do good' and you will do very, very well!

Having made any promises needed to get elected, now revel in a Soverign Risk, fully-indexed Pension Plan for yourselves and the myrmidons that are cloaked as the so-called Civil Service. The promise not to touch the Income Trusts? Forgotten.

The beneficaries? The big Insurance Companies, a significant majority of which are controlled by Power Corporation, retain their Annuity market and other products and the real "Le petit Gars", the man in the street, gets hosed ( a more polite term than the more accurate one)

Not to forget the cheap purchase of a large number of Income Trusts by non-taxable buyers that the Haloween Krystallnacht which made bargains for those buyers and Private Equity purchasers loaded with debt. Carve out a few pets (REIT's) and hammer the Resource-based Trusts.

Mr. Harper the time has come for a real Royal Commission with teeth to look in to this scandalous affair. Please.

A Lifetime Conservative Voter

(585) Brantford, ON: I feel that I was betrayed by the Conservative Party. Before the election there was a definite promise that if elected, the new government would NOT tax Income trusts.
I was hoping for a safe retirement. This government and previous governments have seen fit to make many rules that defeat that hope.

1. Very low contribution limits to the RRSP. In the early years it was only $1500.

2. Changing the compulsory start time from age 71 to age 69.

3. Blindsided me with the Income Trust issue.

4. Forced high levels of withdrawals.

5. Not taking into account the longer life expectancy of the aging generation

(586) N. Delta, B.C.: I remain astounded that Mr. Flaherty and Mr. Harper got sucked into such terrible policy
action as that against income trusts. A long time supporter, financially and otherwise of the Conservative party and Reform/Alliance before that, I am having great difficulty continuing to be a supporter.
Please implement the Marshall Plan in budget 2010 to correct what I hope was an unintentional error. I am positive that if this opportunity to repair the damage done
is missed, it will surely show in the eventual election.
Sincerely

(587) NEPEAN, ONTARIO: Taxes are high, for GOD sake give us a break. CANADA is headed for bankruptcy maybe we are already there. The Marshall Plan is worth looking into.
Amen

(588) Montréal, QC: Bonjour,

J'arriverai bientôt à la retraite et je n'aurai pas assez pour vivre si vous détruisez simplement les sociétés de fiducie. Vous aviez pourtant promis de ne pas y toucher.

So, please implement the Marshall Savings Plan solution in the upcoming 2010 budget.

Diane Francis (Editor, Financial Post) considers the Marshall Savings Plan a "brilliant" solution.

The Marshall Savings Plan will:

- Resolve Jim Flaherty s income trust policy fiasco
- Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians
- Create a massive new stream of cash tax revenue for the government ($6 Billion per year)
- Provide a new source of revenue equal to 0.75% GST increase, but with no GST increase required
- Help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living
- Halt the continued rash of takeovers of vulnerable income trusts (eg. state-owned Abu Dhabi Energy acquiring Prime West etc)
- Restore a level playing field between the 75% of Canadians without pensions (RRSPs) and the 25% of Canadians with pensions
- Promote saving and investment in Canada by Canadians
- Direct the vast pool of Canadians retirement savings into real investment in the Canadian economy
- Avoid the systemic risks to our economy from toxic investments like ABCP and Manulife s Income Plus.

Thank you for your attention.
Regards.

(589) Toronto. Ont.: My retirement funds have never recovered completely from the advice the bureaucrats gave you re tax leakage. I realize that all the corporations in Canada could not go to the trust format. I also realize that all the tax leakage won't come near what the government has lost as a number of corporations have gone off shore or to the Pension Funds. You can make it a little less onerous by accepting and initiating the Marshall Plan. The original plan was to help devastated Europe , this one is to help devastated retirees.(not covered by a government defined benefit pension plan)

(590) REVELSTOKE BC: IMPLEMENT THE MARSHALL PLAN

(591) Burlington, Ontario: Oct. 31, 2006 lives on as the scariest day in federal tax history. The day Finance Minister Flaherty betrayed Canadian taxpayers by using ficticious data and speculation to justify the killing of the income trust market.

The destruction caused since to investors and taxpayers alike has been well documented by CAITI and investigative journalists. What's already been lost cannot be recouped, but the Marshall Plan at least can stem the bleeding and restore the remaining income trusts to fairly taxed entities.

I urge you to include this plan in the new budget.

Thank you.

(592) Calgary: AB: Please implement the Marshall Savings Plan solution
Canadians are tired of the Harper Government side-stepping the Income Trust Issue. This was a grave error on the part of the Conservatives and it has cost billions to Canadian taxpayers. Do something to MAKE IT RIGHT! The Marshall Saving Plan must be part of the March 2010 budget. I trust the Conservative Government will do the right thing this time.

(593) Alliston, Ontario: Prior to the currnet government I wrote to Ralph Goodale when he contemplated changing the tax treatment of Income Trusts. I quickly received a memo from my MP Ms Helene Guergis and shorly thereafter from the leader of the opposition, Mr. Harper, beseaching me to side with the Consevative because they would not alter the Income Trust model.

You can imagine my dismay when one of the first acts Mr. Flaherty enacted was the elimination of the Income Trust Industry. The impact on our personal worth was immense. You can liken it to a person going to a traveling carnival and buying a cure all elixir only to find out it was Snake Oil. This government action adversely affected may seniors' pensions plans.

The recent recession has maginfied just how inadequate the Canadian pensions systems are. The government should recognize that the Marshall Plan is an excellent opportunity to correct the income tax situation as well as allow Canadian citizens to have a vehicle to better plan for their retirement. In this way the Goverment would not have to admit they made a wrong decision initailly but are are listening to Canadians and giving them an excellent investment vehicle in their quest to be better prepared for their retirement.

(594) White Rock, BC: The Marshall Plan or something similar is needed to address the needs of current and future pensioners who do/will not have adequate pension income.

Who is going to pay to look after the millions of Canadians who don't have and won't have adequate pension incomes??

By all reasonable and logical calculations, the net cost of a Marshall-like plan will be close to zero. It seems sensible to go that way instead of hanging on to the mistaken belief that income trusts are bad and must be eliminated regardless of cost or consequence.

(595) Sherbrooke, Quebec: Please correct the unimaginable mistake you made along with your finance minister Mr Flaherty with the Income Trust, by implementing the “Marshall Saving Plan”.

(596) Whitby Ontario: Restore income trusts, as an income generating alternative.

(597) Kelowna, B.C. I am 83,my wife is 80,99% of our income comes from unit trusts.
Please help us.

(598) Sudbury ON: Do you wish all canadians to have to go on welfare. lncome trusts were a major portion of my retiremant income. You said you wouldn,t touch them. lf you have any care for the people who voted you in PLEASE look at the marshall plan for income trusts
The Marshall Savings Plan will:

Resolve Jim Flaherty s income trust policy fiasco

Preserve income trusts as an essential "profit sharing" investment choice for ALL Canadians

Create a massive new stream of cash tax revenue for the government ($6 Billion per year)

Provide a new source of revenue equal to 0.75% GST increase, but with no GST increase required

Help the 75% of Canadians without pensions and preserve the means to a decent retirement income and standard of living

Halt the continued rash of takeovers of vulnerable income trusts (eg. state-owned Abu Dhabi Energy acquiring Prime West etc)

Restore a level playing field between the 75% of Canadians without pensions (RRSPs) and the 25% of Canadians with pensions

Promote saving and investment in Canada by Canadians

Direct the vast pool of Canadians retirement savings into real investment in the Canadian economy

Avoid the systemic risks to our economy from toxic investments like ABCP and Manulife s Income Plus