Letters to the Editor
London Free Press
October 27, 2007
The first anniversary of the Oct. 31 implementation of the tax fairness plan is almost upon us.
Will we ever forget Stephen Harper's promise just prior to the last election: "Don't forget , the Liberals were going to tax income trusts. Don't forget we will never let that happen. We will never raid seniors' hard-earned money."
However, Harper did tax income trusts within nine months of taking power and thousands of small investors, mainly seniors, had to suffer the consequences of a $35-billion loss to their savings. The only beneficiaries were corporations like Manulife that had competing products to sell. Private equity firms and pension funds were allowed to buy up these same trusts and hold them tax-free.
Despite running on a platform of accountability, there have been no attempts made to show any verifiable justification for this action -- unless 18 blacked-out pages count.
Seniors and small investors across Canada, whose only fault was to try to make ends meet, were the collateral damage in this plan to satisfy the needs of the ultra-rich.
As the next election approaches and you hear Stephen Harper chant, "Promise made, promise kept," you might want to reassess his abysmal record on promises.
Dr. Michael Popovich
Source: London Free Press
Stephen Harper on Income Trusts - Election 2006
Stephen Harper on Accountability - Election 2006