tag:blogger.com,1999:blog-7141615629701321642.post2295664543749958044..comments2024-01-07T08:41:13.864-05:00Comments on C A I T I - O N L I N E: Ralph Goodale's question in today's QPBrent Fullardhttp://www.blogger.com/profile/08515599756822506137noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7141615629701321642.post-68831203459849614802009-04-24T10:19:00.000-04:002009-04-24T10:19:00.000-04:00The list of people owning trusts runs from granny ...The list of people owning trusts runs from granny needing a few extra bucks for bingo to Joe Blow who needs cash to feed his family.<br /><br />Actually that is a gross oversimplification.<br /><br />People are & will plan for their futures based upon income , both present & future.<br /><br />The trick is to generate a sufficient amount as the low rate of return on dividends , bonds , & GICs do not adequately supply what is needed.<br /><br />The large return payed to the owners of the trusts , that is you & me or whoever have the obligation to pay all of the tax on this money , not the trust itself but us the owners.<br /><br />None of us complained as we had to pay a high rate of tax as we were just happy for the returns--it must be remembered that our rate of taxation on average is nearly 4 times the average corporate level paid & still no complaints.<br /><br />Does it make sense from public standpoint to be happy with the corporate tax rate of 6.9% on average or would you rather have a return of well over 30% paid by us---the country wins as more tax revenue flows--we are happy as we make a higher return.<br /><br />So who loses--the corporations as they cannot compete as they will not pay out decent returns--they waste their money on half-assed money losing schemes & make the stock holder suffer--a half-assed money losing scheme means a major tax write-off.<br /><br />I am happy to pay the tax so should you in receiving it.<br /><br />Dr Mike<br /><br />PS---I don`t give a flying fig as to who does the dirt , which party or whoever , get to the bottom of poor policy & make the little guy the priority here.Dr Mikehttps://www.blogger.com/profile/16915911929286615081noreply@blogger.comtag:blogger.com,1999:blog-7141615629701321642.post-39891059816406896732009-04-24T10:00:00.000-04:002009-04-24T10:00:00.000-04:00Dr Mike makes a very strong point -- personally, I...Dr Mike makes a very strong point -- personally, I have thought that income trust investors are likely rich guys who are whining about paying tax, oh boo hoo to the rich. You need to inform me that I should care about the issue. No one else but you is going to, because the liberals dont have clean hands on the issue.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7141615629701321642.post-73749577486449015202009-04-24T07:41:00.000-04:002009-04-24T07:41:00.000-04:00The Cons are about to run a very effective attack ...The Cons are about to run a very effective attack add campaign which will highlight Mr Ignatieff`s statement on possible tax increase to offset a rising deficit---he will be framed as the American wannabe tax increaser from hell & Canadians will lap it up like no tomorrow.<br /><br />Here`s just a thought for the Liberal party--attack now with your own add highlighting Harper`s treatment of income trust investors--it would be very easy to have a couple of us old farts talk about the effect on us while playing Harper`s speech during the election of 2006 promising to not tax trusts.<br /><br />Put a face on the investor , because right now the public sees us only as a bunch of nameless rich bastards who had too much $$ & deserved to lose some of it--they don`t see us as ordinary Canadians at all.<br /><br />Setting up the add would be snap--the video is free & the trust investors have nothing better to do because they can`t afford to do anything anyway.<br /><br />This is but the tip of the iceberg as this issue can be used to show the gov`ts unwillingness to compromise , lack of accountability , their desire to placate the CEOs more than the regular citizen & their general disregard for good financial planning.<br /><br />This is a prime chance for the Liberals to shine & do the right thing at the same time.<br /><br />The big question becomes , will they.<br /><br />Dr MikeDr Mikehttps://www.blogger.com/profile/16915911929286615081noreply@blogger.com