17 October 2006

Big Paulie, financial genius

It seems the Ghost of Liberals Past has managed to pick your pockets yet again... and no, I'm not talking about the Sponsorship Scandal.

The decision to allow Income Trusts, which someone in the Federal Liberal cabinet also leaked to a stockbroker buddy on the day before the decision was announced, will cost taxpayers bigtime.

OTTAWA — Income trusts will cost Ottawa and the provinces $1.1-billion in lost tax revenue annually once Telus Corp. and BCE Inc. convert to the corporate-tax-avoidance structure, a new study says.

The report by tax expert Jack Mintz shows that Canada's tax-leakage problem has doubled in two years — from $540-million annually in 2004 — despite efforts to solve it.
You may want to rethink the old canard about the Conservative Party being in bed with big business. It wasn't Stephen Harper handing more than a billion dollars over to these wheeler-dealers.

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