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Trudeau proposes increasing income tax rate to 93%

Re: Trudeau proposes increasing income tax rate to 93%

Postby Catsumi » Oct 1st, 2017, 8:27 pm

Blueliner

Good find. We are being sold down the river.

Now sit back and wait for all Trudeau Toadies deflections to roll in.
I can and WILL spray mercaptans all over your ill-considered & vacuous statements.
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Re: Trudeau proposes increasing income tax rate to 93%

Postby Rwede » Oct 19th, 2017, 7:13 am

ANALYSIS: Could Bill Morneau benefit from his decisions on overseas tax treaties?

Vassy Kapelos has been named the new host of the West Block. By Vassy Kapelos
Ottawa Bureau Chief & Host of The West Block Global News


It's not just conflict of interest accusations being leveled at the finance minister, critics are also accusing Bill Morneau of hypocrisy. Vassy Kapelos explains.


A few weeks ago the question was whether the finance minister’s former firm could benefit from his decision on overseas tax treaties. Now, thanks to revelations that Bill Morneau still owns 2,271,691 shares in Morneau Shepell, the question is more personal.

Could Morneau himself stand to benefit from the review of overseas tax treaties his government is conducting?

Morneau’s former firm operates a subsidiary in the Bahamas. It has two full-time employees and it operates as Morneau Shepell (Bahamas) Ltd. It’s also registered in Barbados as of October 2016.

Here’s where it gets interesting.

Canada and Barbados have a tax treaty. It was negotiated by Ottawa in 1980 and it makes setting up subsidiaries in Barbados very attractive to Canadian companies; the island remains a favourite destination for corporations like Morneau Shepell.

Overall, Canadian corporations held nearly $80 billion in assets there in 2015.

Under the treaty, companies can funnel their profits through a Barbados-based subsidiary and utilize the country’s ultra-low tax rates. When we say ultra-low, we mean ultra-low – as in one to 2.5 per cent. When the income comes back to Canada, no taxes have to be paid. It’s quite the deal.

SNIPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPP

But according to Dennis Howlett of Canadians for Tax Fairness, under current Canadian law, no company has to prove what’s known as ‘economic substance’.

“That’s a problem,” Howlett told Global News in an interview. “Other countries have brought in legislation like that…to close these loopholes.”

The federal government is currently reviewing overseas tax treaties – including the one with Barbados. So far, Morneau has said very little about where that review stands.


In a July interview with the Toronto Star, Morneau noted that any changes to tax treaties may take some time.


Such change “requires us to do some work,” Morneau said. “We’re going to do that work. But we’re not going to throw the baby out with the bath water.”

The caution expressed in those comments is a red flag for the Conservatives who want to know if Morneau is holding back on renegotiating the Barbados treaty because he will benefit with the status quo.


So Conservative MP Pierre Poilievre filed what’s known as an order paper question on the subject today, Order paper questions allow MPs to directly ask ministers questions on any number of subjects.

In the question, Poilievre asked if Morneau has been present for any meeting that included discussion of Barbados as a tax haven, and whether the finance minister informed the Ethics Commissioner his former firm had registered in Barbados.

The optics aren’t pretty, but the answers to those two questions will determine if there is an official conflict of interest. Morneau has to deliver a response within 45 days.

https://globalnews.ca/news/3812241/anal ... -treaties/
"I don't even disagree with the bulk of what's in the Leap Manifesto. I'll put forward my Leap Manifesto in the next election." - John Horgan, 2017.

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Re: Trudeau proposes increasing income tax rate to 93%

Postby Rwede » Oct 19th, 2017, 2:16 pm

*removed*
Last edited by ferri on Oct 19th, 2017, 4:01 pm, edited 1 time in total.
Reason: There is a thread for memes.
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Re: Trudeau proposes increasing income tax rate to 93%

Postby Catsumi » Oct 19th, 2017, 4:25 pm

What a sweet deal!

Wish I could make use of it.
I can and WILL spray mercaptans all over your ill-considered & vacuous statements.
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Re: Trudeau proposes increasing income tax rate to 93%

Postby Gone_Fishin » Nov 9th, 2017, 6:28 am

In your opinion, who's lying in this video?

https://www.facebook.com/CanadiansForLi ... AtNd9HvAmQ
When you're dead, you don't know you are dead. It is only difficult for the others.

It's the same when you are stupid.

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Re: Trudeau proposes increasing income tax rate to 93%

Postby Rwede » Nov 9th, 2017, 11:04 am

Gone_Fishin wrote:In your opinion, who's lying in this video?

https://www.facebook.com/CanadiansForLi ... AtNd9HvAmQ



I can't believe that we as taxpayers are paying the Trudeau Liberals to spew talking points that fail to answer simple accountability questions, over and over and over.

The Trudeau Liberals must be removed from power as soon as possible. Their actions, or lack thereof, are a complete theft of money from salary-paying taxpayers.
"I don't even disagree with the bulk of what's in the Leap Manifesto. I'll put forward my Leap Manifesto in the next election." - John Horgan, 2017.

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Re: Trudeau proposes increasing income tax rate to 93%

Postby Ka-El » Nov 9th, 2017, 12:01 pm

Rwede wrote: The Trudeau Liberals must be removed from power as soon as possible. Their actions, or lack thereof, are a complete theft of money from salary-paying taxpayers.

How long until the next election? Between Trudeau and Andy it is starting to look more and more like Canada might have its first federal NDP government. With the Democrats posed to regain power in the States, this could bode well for Canada.
Donald Trump: woefully unsuitable, unqualified and unfit to be president

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Re: Trudeau proposes increasing income tax rate to 93%

Postby Gone_Fishin » Nov 9th, 2017, 12:39 pm

Ka-El wrote:
Rwede wrote: The Trudeau Liberals must be removed from power as soon as possible. Their actions, or lack thereof, are a complete theft of money from salary-paying taxpayers.

How long until the next election? Between Trudeau and Andy it is starting to look more and more like Canada might have its first federal NDP government. With the Democrats posed to regain power in the States, this could bode well for Canada.


I'll gladly grant Jagmeet 1/2 the left wing vote. Trudeau can have the other 1/2. The rightful, thoughtful, intelligent Prime Minister, Andrew Scheer, can then have a few terms to mop up the huge crap pile Trudeau has created in record time.
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Re: Trudeau proposes increasing income tax rate to 93%

Postby Ka-El » Nov 9th, 2017, 1:07 pm

*removed*
Last edited by ferri on Nov 10th, 2017, 3:10 pm, edited 1 time in total.
Reason: Personal attack.
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Re: Trudeau proposes increasing income tax rate to 93%

Postby Omnitheo » Nov 9th, 2017, 1:22 pm

*removed*
Last edited by ferri on Nov 10th, 2017, 3:11 pm, edited 1 time in total.
Reason: Off topic
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