Friday, December 3, 2010


Brent, is there any chance that someone would leak the original copies of the blanked out documents on the income Trust fiasco? Wouldn’t it be amazing if written all over them was the influence of Power Corp etc. having the trusts shut down? Mike


That would be great, but most unlikely. Meanwhile we already know from the work of HLB Decision Economics what is behind the blacked out documents, since as you can see from page 6 pf those documents (see above, click on image to enlarge) that HLB’s work is one of the columns (the one on the right). The only difference between the HLB column and the Finance columns is that Finance leaves out the deferred taxes that are collected from the 38% of trusts held in RRSPs and RRIFs. That item appears as line item G titled “Future tax revenue (tax exempts)”. Like the idiots that they are, the government wrongly considers tax deferred accounts to be tax exempt, as if these retirement savings accounts never pay taxes which is patently false. This ONE ITEM concerning deferred taxes is the difference between tax leakage and no tax leakage.

We don’t need Wikileaks to solve our problem, we needed the media and/or the Opposition MPs to solve our problem, but neither were as interested in the truth as we, and both failed us miserably. None more so that the CBC.


1 comment:

Dr Mike said...

Hey Brent & Mike , what`s not to love about "blacked-out" pages , that is our democracy at work.

Easy to hide almost anything , particularly the truth.

Dr Mike Popovich