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Pete Moyen should have asked the questiion: If the government made a mistake intitialy by legalizing royalty trusts, why should the government now take its anticipated tax losses out of the hides of unsuspecting investore? A vast number of Canadians are not aware of the harm done to seniors and pension funds. Harper deceived the Canadian public and I question the validity of his Christian values.
Methinks the Harper Cons made a big BOOBOO with the Income Mis-trusts tax!
If Pete doesn't run that piece in the National Post, I think I will. He might not mind, and can tell me if he does.
The whole issue of the income trusts has me shaking my head. If one were to listen to Flapperty, oops Flaherty, after the fact, one is given the distinct impression that they knew all the time that they were going to have to change the Income Trust structure.
If this was the case it is even worse than what the Liberals did, because Harpo PROMISED no changes and gave investors a false security, I would say similar to baiting them.
I have been hit fairly hard by this 'betrayal' but its even worse when you know people that are astute investors that have lost so much of their investment income that it puts them in a precarious position in their retirement. These are individuals that worked all their lives and invested wisely for their retirement. What are they to do? They are past retirement age and cannot work or make this injustice up in any way.
I might also add that there's a good chance that there are many mutual funds and probably even our very own made in Canada CPP that are invested in these Income Trusts, probably many people are being hurt by this that aren't even aware of it.
Just about every pension fund got a kick in the ass willynilly. You're right about many not realizing they have been schnookered.
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