Canadian Taxpayers Suffer From Harper's Panama Deal


tay
+1 / -1
#1
The agreement is bad news not just for labour, but for every Canadian because Panama is an offshore tax haven for companies that want to evade their Canadian tax obligations,” Chris Charlton, the then-NDP MP for Hamilton Mountain, ON, told the House of Commons. “A free trade agreement between Canada and Panama would be a bonanza for big business while leaving individual Canadian taxpayers with an ever-increasing burden for picking up the costs of federal government programs.”

“The amount of money invested in tax havens in the world globally at the moment is at an all-time high,” Don Davies, NDP MP for Vancouver Kingsway, BC, said. “In 2011, almost 25% of Canada’s investment was invested in the world’s top 12 tax havens.”

“According to a Tax Justice Network report from 2011, Canada loses an estimated $80 billion per year to all forms of tax evasion,” he added. “The government does not have a system for estimating and publishing the amount of lost revenues due to offshore non-compliance.”

“We are dealing with a noted tax haven, one of the most notorious drug laundering centres in the world,” he added. “The U.S. Congress said it would not be safe or prudent to sign a free trade agreement with such a country until it first had a tax exchange information agreement in place. However, in this House, the government is asking parliamentarians to go ahead and give a most favourable nation status free trade agreement that would allow money and investment to flow with very little barrier between our two countries, when we do not have a tax exchange information agreement in place, but one might happen in the future. That is imprudent. That is irresponsible.”

more

Harper signed trade deal with Panama encouraging tax evasion | ThinkPol


Ottawa (15 Nov. 2013) - While the federal Conservative government talks tough on crime, the Financial Secrecy Index (link is external) released last week paints a very different picture.


Even when rules are in place, there is no guarantee they will be enforced. Both the Organisation for Economic Co-operation and Development and the Financial Action Task Force (link is external) have expressed concern about the resources allocated to enforcement.

The response of the federal government was to eliminate the Canada Revenue Agency's Special Enforcement Unit, which investigated tax evasion by organized crime.

The trade deal with Panama was also identified as a problem in the Secrecy Index.

These days, the trade deals Canada is entering into are more about protecting investments than opening markets for Canadian goods. With Panama, “viewed by many criminologists as one of the tax havens that does the most to support the laundering of drug trafficking profits,” the question being asked is whose “investments” are being protected.

Conservative government soft on crime, Financial Secrecy Index reveals | National Union of Public and General Employees
 
Walter
+3
#2  Top Rated Post
The takers, especially gubmint unions who are sucking on the teats of the country's wealth, are always upset with the makers, those who actually create the country's wealth.
 
taxslave
Free Thinker
+2
#3
Would that be one of the places former PM Paul Martin hid his wealth? ANd wasn't he PM BEFORE Harper? Just askin.
 
Locutus
+2
#4
Quote: Originally Posted by tay View Post

ThinkPol



according to experts

would x 5

could x 2





 
bluebyrd35
No Party Affiliation
+2 / -1
#5
Quote: Originally Posted by Walter View Post

The takers, especially gubmint unions who are sucking on the teats of the country's wealth, are always upset with the makers, those who actually create the country's wealth.

AND who do you suppose " they" are??? Certainly not the wealthy!! They are wealthy because they use the lower and middle class people to do the earning and then pay the least possible remuneration. They get greedier and greedier. No more company pensions, less pay, more part time.

I see a future for many people where they hold two or three jobs, none of which gives them any feeling of security. Lose one of those jobs and bankrupsy stares the average worker in the eye. So make your fortune if you can and stash it off shore!!
 
tay
#6
Quote: Originally Posted by Locutus View Post



according to experts

would x 5

could x 2









Okay you made me do it.

Yes, you made me go on reddit to see if the OP that I posted was on there, and I can not find it.

I even went back 6 days and it's not there so. Possibly since you may be more familiar with reddit you can point out where it is.

I got the original post in my e mailbox.

I don't know what you are seemingly so agitated about that post?

The intent of the information is to warn all Canadians of what Free Trades can open up and why we should all do what we can to convince the Liberals to not follow through on the TPP at all.

The following article, was not found on reddit......


After all, those who have the most wealth – namely large corporations and the billionaire class – have the power, influence, connections and money to ensure they pay as little taxes as possible.

Which gets me back to Diane Francis’s observation about why nothing changes: it means taking on the most powerful lobby in Canada, and probably in the world.

In fact, too often you have a complete collusion of political and corporate interests when it comes to offshore tax havens. Take, for example, Paul Martin Jr.

Prior to entering politics, Martin became a wealthy man running his family business, Canada Steamship Lines (CSL), a global shipping company based in Montreal. But CSL has a complex offshore tax structure which allows it to pay minimal Canadian corporate taxes.

Part of that structure includes a subsidiary in Barbados. Which is no accident: Canada has a tax treaty with this Caribbean outpost.
[/FONT]

Under Canadian tax law, if you earn money offshore you cannot repatriate it without paying Canadian taxes. One way to get around this stipulation is to set up a subsidiary in the Barbados or any other offshore haven which has a tax treaty with Canada. By doing so, you can bring home your overseas profits and pay minimal Canadian taxes.

By 1994, however, these treaties were being abused by so many Canadian companies Martin was pressured as finance minister to plug them. Which he did – except in the case of Barbados, where his family firm soon set up its subsidiary there. As Francis told us three years ago. “No self-respecting country in the world would do that.”

more

Why the offshore tax haven crisis won't get fixed, despite Panama Papers | National Observer



 
Locutus
#7


Bro, do you even font?
 
bluebyrd35
No Party Affiliation
+1
#8
Quote: Originally Posted by taxslave View Post

Would that be one of the places former PM Paul Martin hid his wealth? ANd wasn't he PM BEFORE Harper? Just askin.

Yes but Martin left Canadian coffers in decent shape. Harper set out spending every penny of that and then spent what we didn't have. All this while making sure the wealthy were taken care of. The rest of us poor buggers have to deal with a deficit again!!

The worst part of this deal is it was spent on programs that do not benefit Canadians!! You know like all those new fighter planes that do not fly now. . (By the way getting out of a recession/depression is handled by putting money back into the pockets of the country's poor and middle classes.) With the coffers empty it becomes much more difficult to achieve,, particularly with so many places willing to store our country's wealth out of reach of the government tax man.....so guess who gets to pay again, and again?

The fallacy that the wealthy will create jobs for the poor and middle classes is something Conservatives still cling to. That is why, Conservative governments always leave this country broke!!
 
taxslave
Free Thinker
+1
#9
Quote: Originally Posted by bluebyrd35 View Post

Yes but Martin left Canadian coffers in decent shape. Harper set out spending every penny of that and then spent what we didn't have. All this while making sure the wealthy were taken care of. The rest of us poor buggers have to deal with a deficit again!!

The worst part of this deal is it was spent on programs that do not benefit Canadians!! You know like all those new fighter planes that do not fly now. . (By the way getting out of a recession/depression is handled by putting money back into the pockets of the country's poor and middle classes.) With the coffers empty it becomes much more difficult to achieve,, particularly with so many places willing to store our country's wealth out of reach of the government tax man.....so guess who gets to pay again, and again?

The fallacy that the wealthy will create jobs for the poor and middle classes is something Conservatives still cling to. That is why, Conservative governments always leave this country broke!!

BEtter try reading up on just what Martin did as PM and prior as Finance Minister. As well as how his own company operates. Then maybe you will figure out just who left the country broke and who fixed things. Or maybe not since you have comprehension problems.
 
mentalfloss
#10
Harper and Panama Papers.

I'm not surprised.
 
TenPenny
+3 / -1
#11
Quote: Originally Posted by Walter View Post

The takers, especially gubmint unions who are sucking on the teats of the country's wealth, are always upset with the makers, those who actually create the country's wealth.



The takers being those who take their wealth and hide it in offshore accounts to prevent having to pay proper taxes, while also demanding gov't subisidies and bailouts, and insisting on 'austerity' for everyone else.
 
Jinentonix
No Party Affiliation
+2
#12
Quote: Originally Posted by bluebyrd35 View Post

Yes but Martin left Canadian coffers in decent shape.

Yep, because everyone needed to cough up, except his family business. When you, as Finance Minister, decide to screw an entire country while offshoring your family's corporate assets, you just might be a hypocritical douchebag.
He may have left Canadian coffers in decent shape, but it killed the coffers of provinces and municipalities which kind of made the whole thing moot.
 
taxslave
Free Thinker
+1
#13
Quote: Originally Posted by Jinentonix View Post

Yep, because everyone needed to cough up, except his family business. When you, as Finance Minister, decide to screw an entire country while offshoring your family's corporate assets, you just might be a hypocritical douchebag.
He may have left Canadian coffers in decent shape, but it killed the coffers of provinces and municipalities which kind of made the whole thing moot.

Not to mention raping EI to balance the books.
 
bluebyrd35
No Party Affiliation
#14
Quote: Originally Posted by taxslave View Post

BEtter try reading up on just what Martin did as PM and prior as Finance Minister. As well as how his own company operates. Then maybe you will figure out just who left the country broke and who fixed things. Or maybe not since you have comprehension problems.

You cannot argue with figures. Look and see how Martin, in spite of what YOU claim, left the Harper government and then look at how Harper left the Trudeau government!!. You can talk about raping this or that program, but at least Martin left the books not only balanced but with a positive balance. Canada did not enter the global recession until Harper went mad on spending our future!! For goodness sake, I want my taxes spent in Canada on what Canadians need. Even if that need is more taxpayers, even if they are imported!!

I bet Harper is not as broke as what he left this country. At least Martin left the country in better shape than it was inherited. Not so with Harper.

Quote: Originally Posted by taxslave View Post

BEtter try reading up on just what Martin did as PM and prior as Finance Minister. As well as how his own company operates. Then maybe you will figure out just who left the country broke and who fixed things. Or maybe not since you have comprehension problems.

LOL, Oh, there is nothing wrong with my comprehension. I know the difference between a government which takes care of the rich at the expense of the poor, and I know the difference between those who gain a reputation being a straight arrow to those who are Bush wannabes. Suck it up. The Harper government was the pits!!
Last edited by bluebyrd35; Apr 8th, 2016 at 02:57 PM..
 
captain morgan
Bloc Québécois
#15
Quote: Originally Posted by TenPenny View Post

The takers being those who take their wealth and hide it in offshore accounts to prevent having to pay proper taxes, while also demanding gov't subisidies and bailouts, and insisting on 'austerity' for everyone else.

Proper taxes?..... 50% off the top in addition to the myriad of sales taxes, sin taxes, corporate taxes and whatnot?

Exactly how close to 100% tax rate do you plan on driving towards?

Quote: Originally Posted by bluebyrd35 View Post

LOL, Oh, there is nothing wrong with my comprehension.

Don't sell yourself short, there really is a ton wrong with your comprehension
 
bluebyrd35
No Party Affiliation
#16
Quote: Originally Posted by captain morgan View Post

Proper taxes?..... 50% off the top in addition to the myriad of sales taxes, sin taxes, corporate taxes and whatnot?

Exactly how close to 100% tax rate do you plan on driving towards?



Don't sell yourself short, there really is a ton wrong with your comprehension

Really: Here you go. Easily found and I will give you a link if you really want one. LOL


Out of the past 27 fiscal years, Canada has run a surplus for only 11 years or 41 percent of the time, with all of them but two under the leadership of Paul Martin as either Minister of Finance or Prime Minister. Canada's best fiscal year was in 2000 - 2001 when the federal government ran a $19.891 billion surplus (those were the days!) and its worst fiscal year was in fiscal 2009 - 2010 when the federal government ran a $55.598 billion deficit, erasing all of the gains that had been made between fiscal 2001 - 2002 and 2007 - 2008 in one fell swoop.

Guess who has comprehension problems!! You cannot argue with actual figures, although many try to!!
Last edited by bluebyrd35; Apr 8th, 2016 at 03:20 PM..
 
captain morgan
Bloc Québécois
#17
Got a question for ya, probably be a real toughie too.

Considering that Trudeau has amassed a $30 billion deficit already and we have 3 1/2 more years of this to come.... What do you think that the odds will be that the next PM that has to deal with this will be running even more deficits?

Hint: There is a time lapse to be considered.... thought that you might benefit from this wee clue
 
bluebyrd35
No Party Affiliation
#18
Quote: Originally Posted by captain morgan View Post

Got a question for ya, probably be a real toughie too.

Considering that Trudeau has amassed a $30 billion deficit already and we have 3 1/2 more years of this to come.... What do you think that the odds will be that the next PM that has to deal with this will be running even more deficits?

Hint: There is a time lapse to be considered.... thought that you might benefit from this wee clue

When we stop electing Conservatives who favor the rich over the poor.......maybe. But you know, how many times can a government take from the middle classes and poor in favor of the rich??? Not much longer!!

It gets more and more difficult to keep having to squeeze those who actually pay the taxes . How long do we support the rich?? I don't care if the rich put what is left over up there a$$ after they have paid their fair share.

And yes Trudeau has amassed a great more debt. BUT.....that is the only way to get out of a recession, which he is not responsible for. If you know anything about finances and running a country, you would know that!!. That was Harper's doing.....All by his lonesome!!.

And quit talking down to me....
 
captain morgan
Bloc Québécois
#19
You need to be spoken down to.... It's clear that you read an egregious headline and automatically consider yourself an expert in finance and economics.

Here's a Sunny Ways chart for ya'll.... Note, the smallest population of canadians are in the high income tax bracket

 
pgs
Free Thinker
#20
Quote: Originally Posted by bluebyrd35 View Post

When we stop electing Conservatives who favor the rich over the poor.......maybe. But you know, how many times can a government take from the middle classes and poor in favor of the rich??? Not much longer!!

It gets more and more difficult to keep having to squeeze those who actually pay the taxes . How long do we support the rich?? I don't care if the rich put what is left over up there a$$ after they have paid their fair share.

And yes Trudeau has amassed a great more debt. BUT.....that is the only way to get out of a recession, which he is not responsible for. If you know anything about finances and running a country, you would know that!!. That was Harper's doing.....All by his lonesome!!.

And quit talking down to me....

Pepper that is something I put on me plate .
 
bluebyrd35
No Party Affiliation
#21
Quote: Originally Posted by captain morgan View Post

You need to be spoken down to.... It's clear that you read an egregious headline and automatically consider yourself an expert in finance and economics.

Here's a Sunny Ways chart for ya'll.... Note, the smallest population of canadians are in the high income tax bracket

LOL, what a stupid reply. Try to remember back to Harper years. Either you are so old you suffer from dementia or so young they meant nothing to you. Try to catch up.

No matter how you add it up, Harper’s fiscal record is a catastrophe – iPolitics

"Since Harper was elected, the federal debt has increased by over $150 billion, wiping out the reduction in federal debt achieved under Chretien and Martin. Not much to boast about there."

Just a wee paragraph from this article.

Also try to get your mind around that if a country wants to collect taxes, the majority of citizens, need the wherewithal to pay them. Putting all the spending outside that country doesn't cut it.
Last edited by bluebyrd35; Apr 12th, 2016 at 08:37 AM..
 
pgs
Free Thinker
#22
Quote: Originally Posted by bluebyrd35 View Post

LOL, what a stupid reply. Try to remember back to Harper years. Either you are so old you suffer from dementia or so young they meant nothing to you. Try to catch up.

No matter how you add it up, Harper’s fiscal record is a catastrophe – iPolitics

"Since Harper was elected, the federal debt has increased by over $150 billion, wiping out the reduction in federal debt achieved under Chretien and Martin. Not much to boast about there."

Just a wee paragraph from this article.

Also try to get your mind around that if a country wants to collect taxes, the majority of citizens, need the wherewithal to pay them. Putting all the spending outside that country doesn't cut it.

But they were investments .
 
mentalfloss
#23
No, they were bailouts.
 
tay
#24
Both the Liberals and Conservatives have enabled the well connected to escape what the working class can't, taxes.....

The Great Canadian Tax Dodge" documents the birth of the Canadian Tax Fairness movement and examines the issue of tax avoidance, exposing the sophisticated corporate strategies and tax loopholes commonly used to legally avoid tax.

It is estimated that between 100 and 170 billion dollars leaves Canada every year, untaxed. Much of it is siphoned off to Canadian-made offshore tax havens. "The Great Canadian Tax Dodge" documents the birth of the Canadian Tax Fairness movement and examines the issue of tax avoidance, exposing the sophisticated corporate strategies and tax loopholes commonly used to legally avoid tax.

The Great Canadian Tax Dodge | TVO.org

The Canadian tax system is riddled with loopholes. Getting rid of them is essential to achieving tax fairness and a system that works for all of us. Take a minute to send this email to Ottawa. Tell the Prime Minister, Finance Minister and your MP that you expect them to stand up for tax fairness and that they can start with a good clean sweeping out in the loophole department.

Tell Ottawa How You Feel About Tax Loopholes! | Canadians for Tax Fairness
 
tay
#25
The federal revenue minister has been called to appear before a parliamentary committee to explain a controversial deal between the Canada Revenue Agency and clients of the financial firm KPMG.

The House of Commons Finance Committee passed a motion Thursday calling on Revenue Minister Diane Lebouthillier to appear before the committee along with CRA officials sometime before May 20.
  • CRA offered amnesty to wealthy KPMG clients in offshore tax 'sham'

    Opposition MPs on the committee want to know why the CRA offered an amnesty to KPMG clients who took part in an offshore tax scheme in the Isle of Man, which the agency itself labelled a "sham.

    Details of the deal came to light through a series of investigative stories by CBC News.

    The deal allows "high-net worth" clients of the firm to be free from any future civil or criminal prosecution as well as any penalties or fines if they agree to pay their back taxes and a modest interest charge on their offshore investments.

    NDP Finance critic Guy Caron says the minister needs to explain what's going on.

    He also wants Lebouthillier to clarify comments she made this week in the House of Commons in which she denied any amnesty had been offered.

    "That flies in the face of the facts," Caron said.

    "This issue of what happened is a question of transparency, it is a question of governance, of openness but also ministerial responsibility.

    Revenue minister to face questions over CRA's secret deal with KPMG - Politics - CBC News
 
relic
Free Thinker
+2
#26
Why,is the fallback argument for conservatives always personal attacks,that have no bearing on the subject,or plain gibberish ?
 
mentalfloss
#27
Quote: Originally Posted by relic View Post

Why,is the fallback argument for conservatives always personal attacks,that have no bearing on the subject,or plain gibberish ?

Because they're typically old stockers.

Younger conservatives are not so bad, but they still retain that outdated vestige of conservative morality that being selfish is inherently good.
 
pgs
Free Thinker
#28
Quote: Originally Posted by mentalfloss View Post

Because they're typically old stockers.

Younger conservatives are not so bad, but they still retain that outdated vestige of conservative morality that being selfish is inherently good.

Were as you think it is good to spend your grandchildren's money .
It is always so much easier then living within your means.
 
bluebyrd35
No Party Affiliation
+1
#29
Quote: Originally Posted by pgs View Post

But they were investments .

LOL yeah like those new fighter planes that started out with a 9 billion dollar price tag that very shortly became 49 Billion dollar tag. Of course, they are now in very limited use, because on the whole Canadians are not comfortable with willy-nilly bombing of civilians in order to get at military targets. We had to have this F-35 because this is what the US uses.
 
mentalfloss
+1
#30
Quote: Originally Posted by pgs View Post

Were as you think it is good to spend your grandchildren's money .
It is always so much easier then living within your means.

The neocon ideology isn't about conserving, it's about spending on yourself.