Tuesday, March 9, 2010

The Globe's Jeffery Simpson on Canada becoming a branch plant economy

Mr. Simpson, your piece this AM decries the fact that a wave of foreign takeovers is increasingly turning Canada into a branch plant economy, to our detriment. Agreed.

In making your point however you deliberately (I must assume deliberately because the evidence is so clear) avoid any mention of the contribution to this adverse trend that the double taxation of income trusts has had? Taxes imposed here have made these assets a bargain for foreigners and further confounded the ability of an aging population to provide for their retirement. Dozens of trusts have been snapped up by foreigners.

Why does the Globe continue it's efforts to obscure the adverse outcomes of this policy which has acted to the detriment of all Canadians?

Regards, Neville


That would be explained by the fact that the Globe and Mail reporters/columnists s are victims of a branch plant mentality that pervades all that the Globe writes about on economic matters, as those views have to conform with the dictates and head office requirements of the Globe's owners....BCE,. Teachers' Torstar and the Thomsons all of whom had their own ulterior reasons to kill the income trust model and applaud the most unfair and grossly fraudulent tax policy this country has ever seen...or that Jeffrey Simpson conveniently avoids talking about, being that ignorance is rewarded at the Globe and Mail and the source of one's job security.

If the Globe cared a hoot about journalistic standards, then why did the Globe chose to exempt themselves from the Reuters Principles that govern the Thomson-Reuters reporting standards? Why did the Globe's owners make Canada a back water/branch plant carve-out from the need for the Globe to report only the truth and do so in a complete and balanced way? What end purpose does that play, apart from the freedom to mislead as so often occurs in the Globe?

Hard nosed reporter?.....not on your life. More like dutiful sycophant.


1 comment:

Dr Mike said...

The pension carve-out was key---Jim had to get the pension funds on-side as their stink on this issue would have ensured the failure of the Tax Fairness Plan.

Why do you think the provinces & the territories came-onside so fast---they have to take care of any shortfalls & this way they were allowed to buy trusts on the cheap & own them tax free , therefore decreasing the gov`t cash-responsibility.

Only the little guy got screwed & we just didn`t matter.

Dr Mike Popovich