MP Paul Szabo still wants to stick the Conservatives about Income Trust–
March 30, 2009
Conservative Reporter
I watched Mr. Szabo – 
[ he of the Ethics Committee-Mulroney/Schreiber fame ] stand up in the House of Commons and present a petition from his constituents about Income Trusts and losses. He intends to get an apology from the Conservatives. He would have you believe that it was done with the full intent of harming senior citizens and the vulnerable. Show me where anyone can guarantee that someone investing their money will not lose? That is what Income Trust is. This article is interesting.
In my opinion, this man always needs pins and a doll to stick them in. He would say he is just doing his job. Ahhh well. We vary in our opinion.
And you think the Liberals would be great leaders of government? I guess they would be if they operated from their present sandbox. They have an arsenal of stones and ready hands to throw them. Sadly, they lack substance, clarity and solutions to many of the situations facing Canadians. They certainly cannot sit on their past record. At least, I would advise them not to.
Wikipedia gives some history on Income Trusts.
Within that you can see the role Ralph Goodale played as Finance Minister. Seems he wanted to take harder lines and always had to withdraw his intent. Interesting.
[ from Wikipedia ]
Business trusts have come to the attention of the government. In the March, 2004 federal budget, Finance Minister Ralph Goodale had tried to prohibit pension funds from investing more than 1% of their assets in business trusts or owning more than 5% of any one trust. Powerful funds led by the Ontario Teachers Pension Plan, which at the time had a significant stake in the Yellow Pages Income Fund, fought the proposed measure; the government backed off and suspended the restrictions.
Here’s another moment for Ralph Goodale and his Income Trusts.
Uhhhh Ohhhh – Liberals up to their necks in an RCMP Inquiry – and we see thatthe governmental bureaucrat made money.
We have a summation by Andrew Coyne.
The Conservative Government had to take some action – “On October 31, 2006, Canadian federal Finance Minister Jim Flaherty announced a new tax on income trust distributions in a bid to stem the growing number of companies that are converting to trusts.”
Here is what Jim Flaherty said on the day of the announcement.
Mr. Flaherty said later :
Mr. Flaherty said “it is regrettable” that some investors were hurt by the government’s decision to end the tax holiday for trusts.
He also said:
“Of course there would be a negative impact,” a frustrated Mr. Flaherty responded. “I did not look forward to that.
“But you have to act in the best interests of the whole country.”
January 30, 2007 – [ more information ]
The Conservative government had made a pre-election promise not to impose new taxes on the income trust sector, but Mr. Flaherty said the government was forced to change its mind as a result of an acceleration in conversions to the trust structure, as well as increasing numbers of companies in “active, knowledge-based” areas of the economy. He said the finance department began having “serious discussions” internally last July regarding its growing concern about trusts.
Political opportunism here..as the liberals continue to focus on what they want to see in the income trust to throw at the Conservatives…and not what it really was.
Why are they not screaming at all of the companies that tried to get into this blind trust…and spoiled it for all?
Because they want Conservatives to look bad that is why.
The amazing draw of the scent of power.
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1.
wilson | March 30, 2009 at 7:07 pm
Great research CR!
The Conservative Government brought in income splitting for Seniors, to counter some the negative effects.
2.
Conservative Reporter | March 30, 2009 at 7:59 pm
I hadn’t even connected that….thanks Wilson !!!
3.
Alf | March 30, 2009 at 9:20 pm
You got to admit Harper’s flip flop on this issue cost Albertans $35 billion in savings. Harper should pay the money back. He can keep his apology.
4.
Conservative Reporter | March 30, 2009 at 9:50 pm
pfffft Alf….how nice of you to drop in…… and with such understanding of the facts too.
5.
Bec | March 30, 2009 at 10:11 pm
I guess “Alf” hasn’t been back to shore up his comment. Does “Alf” know the population of Alberta divided by 34 Billion?
What do these people use for research material?
6.
Powell Lucas | March 31, 2009 at 12:55 am
I’m a senior citizen and most of the people I work with are senior citizens. It is strange that none of us have been impacted in the slightest by the change in the Income Trust regulations. Now, if I had a few hundred thousand to invest in these schemes perhaps I would have seen a slight change in my retirement portfolio, but then, I’d also have enough money so that the change would have been fairly negligible. This is just another case of politicians like Szabo and McCallum trying to make sure their wealthy business cronies are well looked after.
7.
MaryT | April 1, 2009 at 2:09 am
When do the changes to the Income Trusts come into effect. So, why did everyone panic at the announcement. You had lots of time to make other arrangements. I think a lot of people had a lot of bad advise from all those experts that laughed at the PMSH’s warning things were going to get bad. And anyone who thinks the libs wouldn’t have done the same thing is living on another planet. The difference is that that libs would probably have made the changes rectoactive, instead of 2011.
8.
Jen | April 1, 2009 at 11:06 am
CR, As I mentioned to BLY, why don’t we cover the prime minister at G20, videos and all for the canadians who are constantly being manipulated by the liberals personal media.
Canadians are tired of the daily dose of gloom and doom media. Good news of our prime minister being respected internationally makes anyone proud. Daily insult ridicule and mockery by the Canadian MSM towards our prime minister is enough to make you turn off the television or not read the papers and they(MSM)wonder why their ratings are down and noone wants to buy their newspapers-what for-to hear the same BS.
9.
Conservative Reporter | April 1, 2009 at 11:32 am
Yes Jen what a good idea….
I was not posting yesterday as I have a huge cold…
I will try to post things today…
excellent…let me know what you see too
It takes a village to get the message out
10.
Jen | April 1, 2009 at 12:11 pm
I will do my very best to forward to you any news of the prime minister, I wonder if CNN or Fox will help us by reporting on the prime minister while they report on OBAMA while the canadian MSM report and exhalt their personal prime minister.
Apparently there are two PMS- ONE FOR THE CANADIAN PEOPLE- CANADA AND TROOPS AND THE OTHER IS STRICTLY FOR THE MSM. HOW ABOUT THAT.
11.
Jen | April 1, 2009 at 1:22 pm
Just to remind you that the prime minister was interviewed by SKY NEWS on video and CNN LONDON.
Robert Fife said that the foreign media ask the prime minister ‘easy questions’ compare to the ‘TOUGH’ questions from the canadian media, yeah right. CR, the more the canadian media display their ignorance it’s no wonder noone wants to tell them anything; far less take them on.
12.
MaryT | April 1, 2009 at 2:20 pm
Just wondering, is Alf the guy running for leadership of the liberal party executive. Hear a rumor he will withdraw today, wonder if it has anything to do with his attempt to get illegal donations for iggy.
13.
Conservative Reporter | April 1, 2009 at 9:13 pm
Thanks for all the great comments on the last two posts I have done.
My flue/cold got worse and I cannot get posts up that would make any sense
Have a few in mind and will work on them when I feel up to it.
KEEP COMING BACK !
14.
Conservative Reporter | April 1, 2009 at 9:55 pm
Yes Jen you are right….the media does not get it yet !!
MaryT not sure…keep me posted on that one…
my head hurts …..bad
THIS BLOG IS IN “SICK BAY” FOR A WHILE
but watch the G20 like crazy
That Jane….she has innuendo and leading questions to everyone she can pry it out of….could she ever have a serious impartial discussion? NOT !!!
What happened to the regular guy…he has been gone 2 weeks or more now…
Not that I like the show’s format… I loved Mike Duffy and his show…. this one does not cut it….would you believe I go over to Don Newman a lot more now…
Quick…someone get me a blue pill..
Till later dear readers….
15.
MaryT | April 1, 2009 at 10:10 pm
Get well soon, we will be here when you post again.
16.
MaryT | April 1, 2009 at 11:39 pm
For anyone wanting links to what our PM and his wife are doing in London, why not visit BlueLikeYou, I think the whole trip so far is covered. Links to PMSH and his interviews with the foreign press, where he is treated with the respect he deserves. Late news is he got concensus from all the leaders tha protectionism is not the way to go. Apparently he made the Queen laugh in the receiving line. Meanwhile the great O and his wife made a couple of goofs at the palace. Michelle walked in front of the Duke -a big no no- and stood by the Queen and gave no gesture of respect to them. I still think she walks like a clutz and is only there to show off her clothes. I don’t think she has any class or respect for anyone but herself, and maybe her husband.
I know that CR would have these links, if she was feeling up to it.
Sounds like the great fundraiser dinner for Iggy didn’t go so well. Not a lot of applause etc for his so called jokes. And he had trouble with his teleprompter. One commentor wondered how much adscam money appeared there tonight as donations. Seems the Que press is losing its love affair with Iggy-from G&M story-
Our PM and his wife are making us proud to be Canadian.
17.
MaryT | April 8, 2009 at 8:34 pm
Just checking in to see if you are feeling better. Hope you caught our PM in Monton today. He slapped iggy hard re BM. He also went to the World Curing and watched ABs Kevin Martin.
18.
Sandy | August 17, 2009 at 11:41 am
CR — Like Mary T and others, I check in from time to time to see how you are. Leave us a comment so we know what the situation is.
I know what its like to get fed up and/or burned out. But, I always come back in one form or another.
Now, I have the Harper Government Record as an official blog site. If you don’t want to run your blog but would still like to post from time to time, just let me know and you can post at HGR. You can simply e-mail me your post and I’ll put it up. No hassles!
scruxofthematter[at]gmail[dot]com
19.
MaryT | August 17, 2009 at 12:22 pm
CR, having a g/daughter just move to NB, I am interested in what is going on there. I do know she will be talking up our PM to anyone who will listen.
Please check in, if it is just to say hello. Your readers want to know you are ok.