Originally posted by Flubber
Put simply, if the conservatives had not made the decision they did, the concept of corporate taxation would have disappeared from the Canadian tax scheme. The tax advantage was so extreme that the 5 major chartered banks and ALL the major oil and gas companies were at least looking at converting to trusts.
Unchecked the actual corporate entity would pretty much disappear as ALL business would have been by trust. If you want no corporate taxes, why not just abolish them instead of making everyone convert to a trust.
The conservatives decision on this matter was right at the time, its right today and its right tomorrow. Their error on this issue was in ever commiting to do otherwise
Put simply, if the conservatives had not made the decision they did, the concept of corporate taxation would have disappeared from the Canadian tax scheme. The tax advantage was so extreme that the 5 major chartered banks and ALL the major oil and gas companies were at least looking at converting to trusts.
Unchecked the actual corporate entity would pretty much disappear as ALL business would have been by trust. If you want no corporate taxes, why not just abolish them instead of making everyone convert to a trust.
The conservatives decision on this matter was right at the time, its right today and its right tomorrow. Their error on this issue was in ever commiting to do otherwise
1) They knew they couldn't keep the promise but made it anyway (lied), or
2) They didn't know when they should have (incompetent).
I don't see a #3. Lying or incompetence are good reasons to vote against a party imho.
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