TSX tumbles on income trust reaction

[CBC News]

Market reaction to Finance Minister Jim Flaherty's announcement of a new tax on income trusts was swift and heavy Wednesday as the SP/TSX Composite Index fell sharply.

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[Calberty]

I lost 6,000 dollars today and say F#CK to the Conservatives. F#CK. F#CK. I've voted Con or some earlier form of them all my life and won't vote for the F#CKERS again. Ba$tards will get punched in the face if they come to my door in the next election.

 

[Kreskin]

If they bring that shmuck who ran Nortel I'll meet you there.

 

[Boxcar]

Blame BCE !

 

[Toro]

The banks were also going to convert at least part of their businesses.

The loss in tax revenue to the government was approaching $800 billion after the Telus and BCE announcement.

I don't know why there should be tax a differential between a business that converts to a trust and a corporation anyways.