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Politics : Canadian Political Free-for-All -- Ignore unavailable to you. Want to Upgrade?

To: seventh_son who wrote (10844)	11/5/2006 9:02:41 AM
From: Ichy Smith	Read Replies (2) \| Respond to of 37820

since one of the PLATFORMS of the Party that they were elected on was that they would not screw with the Income Trusts. The Conservatives bashed the Liberals long and hard over their attempt to regulate income trusts, and promised to protect the people who invested in them. Many conservative Seniors invested in them because the Conservatives told them the Income Trusts would not be touched They could have grandfathered the present Trusts or done something to protect the wealth of the Seniors many of whom earned their money, unlike Canadian Politicians.

To: seventh_son who wrote (10844)	11/5/2006 9:34:58 AM
From: Cogito Ergo Sum	Respond to of 37820

Hi ss, Hope you are having a good time on vacation.. Now repeat after me.. to start your 12 step program.. I am powerless over the SI Free for All LOL something had to be changed with income trust taxation NO. something had to be done to put it back to it's intended goal. If I didn't know better I'd think we had the Liberals in power... found myself agreeing to Bill Graham ... he made some sense... good grief LOL here are some tidbits, I planned to email both Harper and Flaherty but am waiting until my tone is a little less acerbic :o) the original was just too nasty.. likely tonight I'll post it.. I've made a lot of money in trusts.. many here on SI know I was in long before the crowd and left before the crowd, too early in fact.. but have been completely out for quite a while.. so I have lost nothing from this fiasco and my views are not loss induced rancor.. but a reaction to dishonesty and outright stupidity.. I hope after the next election we still have two viable parties to vote for. Message 22976535 the way the government did it was amateurish and downright reckless. Message 22976389 The crux is I don't think the move was particularly good for Canada as it reinforces our status as a twilight investment area... ie.. better than Bolivia but no where nearly as safe as the US... We need US investors and this event will not make them feel any warmer towards us.. and I definitely disagree that it will make Harper stronger.. Message 22976322 They have so many tools available to do this better but maybe this happened.... --------- Flaherty (Finance Minister) has said he received a courtesy call from head of BCE with their trust conversion decision 3 weeks prior. Minister says Oh Oh...... Minister says what if banks follow suit... OHMYGAWDDDDDD!! Minister brainstorms for 3 weeks with selected confidants sworn to secrecy... (runs around shouting the sky is falling the sky is falling) Minister after 3 weeks comes up with sophisticated well thought out non reactionary no panic mode proactive decision... TAX ALL TRUSTS TAX ALL TRUSTS TAX ALL TRUSTS TAX ALL TRUSTS (not the REITS, maybe he owns REITS ;o) He thinks... oh oh... this might pi$$ off some folks... conservative types that may have voted for us ... gulp... we campaigned on honesty, integrity and KEEPING OUR word... and we promised not to touch the trusts... Not only that it'll likely cause a huge transfer of wealth like the last time... let's throw some tax bones to the elderly like income splitting.., likely not of much benefit to middle class trust investors ... but it's the middle class's job to take in on the chin... --------- The final straw for the government was a recent pair of announcements by two of Canada's biggest companies -- telecommunications firms Telus Corp. and BCE Inc. As mentioned above... BANK ACT Insurance ACT... now we even have a comedy ACT in parliament... siliconinvestor.com Sad that they had an out which would have saved reputation and accomplished the necessary, and improved reelection chances... Now we may be seeing the gang that couldn't shoot straight part II.. Message 22973217 BCE called me they are going trust... ... the sky is falling the sky is falling... Let's brainstorm for three weeks and figure this out... OK guys so that's plan... we'll tax income trust.. I think we earned our salaries on this one !! :o( BTW I owned no trusts when this happened so this statement is not out of rancor.. but I'm simply stunned by the way this was all handled.. IMO simply UFB.. enjoy yourself.. what foreign language are you surrounded by :O) regards Al..

To: seventh_son who wrote (10844)	11/5/2006 10:38:23 AM
From: gg cox	Read Replies (2) \| Respond to of 37820

<<Remember 1974, when Pierre Trudeau said he'd never impose wage and price controls? That's when Trudeau ridiculed Conservative leader Robert Stanfield, who supported wage and price controls, by saying, "Zap, you're frozen!" Fifteen months later, Trudeau brought in wage and price controls, saying times had changed.>> cbc.ca We should heed our history. There were many articles warning of concerns regarding income trusts prior to the flip flop of the conservatives.So, many investors have only themselves to blame, if they did not lighten.If investing was easy everyone would do it, and everyone would be rich...it is not easy to manage money and we are always open to being blindsided especially if we are not on the "inside elite." Kevin O, on ROB tv, grown man weeping over trust taxing, watching him always get in on the IPO's that the average joe would never get a sniff of..is evidence that the conservatives did keep it a secret...blam everyone blindsided.One of the "financial experts" on Rob tv, about a month ago, said he was completely out of income trusts...said he was nervous about them..inside information??or was he heeding our history??