Wednesday, November 01, 2006

Harper Economics

The CPoC has broken a written campaign promise on Income Trusts. Tens of thousands of pensioners will be directly hurt by the changes. In response to the changes, the Toronto stock market was immediately down 2% - with the very real possibility of much greater longer-term impacts.

The Conservative Finance Minster claims that the Federal government is losing revenues, which he interpreters to mean that Income Trusts must be stopped and corporate taxes must be reduced. However, the Federal government is experiencing record surpluses. There is no shortage of government revenues. In other words: hurt pensioners, lower corporate taxes, and address a non-issue.

What is the New Government thinking: Direct revenues away from pensioners to corporations?

(c) 2006 Victoria BC


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