Wednesday, August 18, 2010
CFRA’s John Budden interviews Brent Fullard on foreign takeover of Potash
Posted by Brent Fullard at 3:56 PM
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CANADIAN ASSOCIATION OF INCOME TRUST INVESTORS WEBLOG
As you well know, the ‘income trust thing’ has grown beyond the question of whether fair taxes are paid on income from trusts. It’s become a giant dirty snowball, and as it rolls forward it accumulates more and more bulk. There are so many unanswered questions. Let's list a few and invite our "Accountable" government and our free press to provide some much-needed answers.
It is said “Trusts are inefficient use of capital. Why?” Two related questions are ‘Whose money is it, anyway?’, and ‘Do Canadian investors have a free and efficient market?’
How can information that is already in the public domain at SEDAR make for a state secret? How could such information be used to harm the Canadian national interest? And who would cause the harm?
Why won’t the Canadian media investigate the falsehoods and misrepresentations told by the Minister of Finance to a committee of Parliament? Was the Minister in contempt of Parliament?
Why won’t the Canadian media report (a) government tax revenues gained from BCE in 2006 when BCE was a corporation to (b) government tax revenues that would be gained in 2007 from BCE, if BCE had been allowed to proceed to a trust, and (c) government tax revenues that will be gained in 2007 from BCE, when BCE ownership has been carved up as 45% foreign ownership and 55% large Canadian pension fund ownership?
4 comments:
Well done Brent!!
The unfortunate thing is that working with politicians is like working with a nest of bees , you don`t know which one of them will sting you next.
Just can`t trust em.
Dr Mike Popovich
PS--it`s about time we instituted a "recall" system here in Canada -- either that or we nail their hides with a fine of 10% (of their gross salary) every time they break a promise.
If so , most of these clowns would be broke.
Well Done Brent, after this interview, the Harper/Flaherty
clan are well done to leave.
thank you Mr Budden as you said
lets re-open this box and throw out the whole bunch of them !!
JC
Excellent Brent!!
And thank you Mr Budden for being one of the very few in the media with any ability to see how critical this issue is to Canada's economic well being.
I really like the parting commen. The Liberals haven't done jack shit about this issue either.
Railhound
YIKES! Just read Vale might be a contender for this takeover.
Forget about the Chinese. Canadians need to wake up to the evils of Brazilian ownership in this country. Anyone who has had dealings with Votorantim Cimentos, St. Mary's Cement (taken over 2001), Gerdau Ameristeel and of course Vale (INCO) can attest to damage caused in communities.
I.e. St. Mary's has been making a sport out of protesting their MPAC assessments. See Ontario Legislature presentation by Mayor Abernathy and John O'Toole November 6, 2008.
All the good tech jobs have been sent to Brazil ... That info might be handy for residents in Flamborough, Hamilton, Burlington who are fighting VC/St. Mary's quarry application. The company is trying to get around environmental laws by lying about employment benefits in the local economy ... also costing citizens a shit load in court fees to fight them (stopthequarry.ca).
See ON legislature Aug. 3. 2010 St. Mary's presentation ... interesting the 20 week / 5 month strike in Bowmanville was never mentioned during the company's presentation about quality employment they offer ... they succeeded in stealing pensions for 2012 and a bunch of other crap.
The limestone extraction tax reduction by the Ontario Government in 2008 supported by all 3 political parties. Limestone is a limited resource. Every single cement company in this country is private and currently benefiting from stimulus money. Why was tax on a limited resource reduced for the benefit of private foreign companies at the expense of ON tax payers? No articles on that subject of course ...
Gerdau had the City of Cambridge's longest strike in 2009.
Vale ... enough said.
Why does Ontario have a Tax Treaty with Brazil?
Why does Canada have a trade agreement with Brazil, established in 1984?
Based on reading about those 2 tax trade agreements it appears the Brazillians are getting the benefits of NAFTA and using Canada to bypass NAFTA and for access to USA markets. How Brazilliant of them!
And for good measure ... the majority of Ford cars (Focus, etc.) are now made in a state of the art facility located in Brazil.
Canadians need to smarten up and stop giving away resources to foreigners. No advantages to anyone of any age long term.
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