US AND CANADIANS INVESTORS ATTACKED BY THE CONSERVATIVES IN CANADA. PROTEST PLEASE!

US AND CANADIANS INVESTORS HIT BY THE COLLAPSE OF INCOME TRUSTS IN
CANADA.


When the Conservatives promised not to change taxation on Income
Trusts during the last election (Prime Minister Stephen Harper said
his party would never attack income trusts because he realized they
provided crucial income to so many seniors -Jan 2006), many investors
believed them and invested further in these assets. Mr Harper broke
his promise (oct. 31) and caused a great deal of financial damage to
investors.

Canadians and US investors LOST 30 BILLIONS OF DOLLARS on the stock
market, since the announcement. Now, they feel duped and cheated.



The minister of Finance, Jim Flaherty, insisted he simply had to stop
the erosion of Canada's corporate tax base. What a lame excuse. He
could very easily have accomplished that goal in a different way. He
could have allowed existing income trusts to stay the way they were
while disallowing any new conversions.

[Dec08'06]: Two new studies, one from BMO Nesbitt Burns and another
from PriceWaterhouseCoopers have shown the inherent flaws and
misinformation on which the Department of Finance has based its
decision to tax trust distributions and to "say no" to the "Income
Trust Economy".


All citizens and Seniors especially have a right to a decent income.



DON'T ENCOURAGE THIS BETRAYAL! Support both US and Canadian investors
(and seniors citizens).

Sign the petition online (over 1300 signatures + see comments of ANGRY
people).

http://www.petitiononline.com/mod_pe...ed.cgi?DC103&1


Join this forum (against the income trust tax and where you can share
your political views):
http://www.stockhouse.ca/bullboards/proforum.asp?symbol=$FLOWT&table=PRO

Betrayed investors tell their story he
http://www.mad-as-hell.ca/ ( read comments of ANGRY people)

Investor_free wrote:
US AND CANADIANS INVESTORS HIT BY THE COLLAPSE OF INCOME TRUSTS IN
CANADA.
snip
Betrayed investors tell their story he
http://www.mad-as-hell.ca/ ( read comments of ANGRY people)



Guess ya' shudda' voted NDP. LOL!!!

TheNewsGuy(Mike) wrote:
Investor_free wrote:
US AND CANADIANS INVESTORS HIT BY THE COLLAPSE OF INCOME TRUSTS IN
CANADA. snip
Betrayed investors tell their story he
http://www.mad-as-hell.ca/ ( read comments of ANGRY people)

Yes, protect us ALL from tax evasion! That way only those with
disposable incomes will pay tax: the "rich" have hired accountants to
help evade taxation while the "poor" have no money that can be taxed
anyways :-)

Rant on - by the way, who pays for YOUR Internet connection: you with
YOUR disposable income OR do you get someone's taxes to pay/subsidize
your Internet connection?

Just wondering - no need to expose more bias on YOUR part. Heck, (and
this is to THE O.P.) are you living legally in Canada? If not - get
outta here and DON'T tell Canadians who to vote for.

Tmac-100 wrote:
TheNewsGuy(Mike) wrote:

Investor_free wrote:

US AND CANADIANS INVESTORS HIT BY THE COLLAPSE OF INCOME TRUSTS IN
CANADA. snip
Betrayed investors tell their story he
http://www.mad-as-hell.ca/ ( read comments of ANGRY people)


Yes, protect us ALL from tax evasion! That way only those with
disposable incomes will pay tax: the "rich" have hired accountants to
help evade taxation while the "poor" have no money that can be taxed
anyways :-)

Rant on - by the way, who pays for YOUR Internet connection: you with
YOUR disposable income OR do you get someone's taxes to pay/subsidize
your Internet connection?

Just wondering - no need to expose more bias on YOUR part. Heck, (and
this is to THE O.P.) are you living legally in Canada? If not - get
outta here and DON'T tell Canadians who to vote for.


Tmac, please be more careful clipping posts - you made it look like I
was the rich Op ranting about paying taxes - I wrote a rebuke TO him.

Thanks

TheNewsGuy(Mike) wrote:
Tmac-100 wrote:
TheNewsGuy(Mike) wrote:

Investor_free wrote:

US AND CANADIANS INVESTORS HIT BY THE COLLAPSE OF INCOME TRUSTS IN
CANADA. snip
Betrayed investors tell their story he
http://www.mad-as-hell.ca/ ( read comments of ANGRY people)


Yes, protect us ALL from tax evasion! That way only those with
disposable incomes will pay tax: the "rich" have hired accountants to
help evade taxation while the "poor" have no money that can be taxed
anyways :-)

Rant on - by the way, who pays for YOUR Internet connection: you with
YOUR disposable income OR do you get someone's taxes to pay/subsidize
your Internet connection?

Just wondering - no need to expose more bias on YOUR part. Heck, (and
this is to THE O.P.) are you living legally in Canada? If not - get
outta here and DON'T tell Canadians who to vote for.


Tmac, please be more careful clipping posts - you made it look like I
was the rich Op ranting about paying taxes - I wrote a rebuke TO him.

Thanks
Sorry to have offended you, but as it was clipped, I did try to show
that the OP - and NOT you - was the one who was IMHO at fault.

So at least we are both on the same page - and thankfully not on the
page the OP is/was on.

Sorry again.

K.P., Canada

Excuse me but I have no patience for these misguided attacks.

It seems to me if there was any betrayal it was by the brokers and agents
who promoted and sold this IT crap to the gullible and perhaps greedy,
retail investors. Isn't exploiting peoples' greedy and ignorance the typical
approach used by successful con men?

Yes you may have a greater cash flow, but now you are paying 100% of the tax
on the income personally, instead of anywhere from 35% to 50%.

It is an attractive investment only to non-profits and foreign investors.
They really do win.

And, if you are a senior, the "higher cash flow" (income) may even erode
your OAS so in effect you wind up paying even higher taxes. CARP should be
ashamed of them self for championing this issue. (Some would say CARP would
more correctly be called CRAP.)

That, plus the fact that the IT strategy is fundamentally flawed and
unsustainable over the long term, makes it a real CON in my opinion.

Anyone who got stuck, may have deserved it, although I am sorry for the
naive investor who trusted the wrong people.

Other than that, I'm OK with it.

Bill


"Investor_free" wrote in message
...
US AND CANADIANS INVESTORS HIT BY THE COLLAPSE OF INCOME TRUSTS IN
CANADA.


When the Conservatives promised not to change taxation on Income
Trusts during the last election (Prime Minister Stephen Harper said
his party would never attack income trusts because he realized they
provided crucial income to so many seniors -Jan 2006), many investors
believed them and invested further in these assets. Mr Harper broke
his promise (oct. 31) and caused a great deal of financial damage to
investors.

Canadians and US investors LOST 30 BILLIONS OF DOLLARS on the stock
market, since the announcement. Now, they feel duped and cheated.



The minister of Finance, Jim Flaherty, insisted he simply had to stop
the erosion of Canada's corporate tax base. What a lame excuse. He
could very easily have accomplished that goal in a different way. He
could have allowed existing income trusts to stay the way they were
while disallowing any new conversions.

[Dec08'06]: Two new studies, one from BMO Nesbitt Burns and another
from PriceWaterhouseCoopers have shown the inherent flaws and
misinformation on which the Department of Finance has based its
decision to tax trust distributions and to "say no" to the "Income
Trust Economy".


All citizens and Seniors especially have a right to a decent income.



DON'T ENCOURAGE THIS BETRAYAL! Support both US and Canadian investors
(and seniors citizens).

Sign the petition online (over 1300 signatures + see comments of ANGRY
people).

http://www.petitiononline.com/mod_pe...ed.cgi?DC103&1


Join this forum (against the income trust tax and where you can share
your political views):
http://www.stockhouse.ca/bullboards/proforum.asp?symbol=$FLOWT&table=PRO

Betrayed investors tell their story he
http://www.mad-as-hell.ca/ ( read comments of ANGRY people)