Canadian Taxpayers Suffer From Harper's Panama Deal

[tay]

“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]

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]

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

 

[Locutus]

ThinkPol

according to experts

would x 5

could x 2

 

[bluebyrd35]

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]

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]

Bro, do you even font?

 

[bluebyrd35]

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]

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]

Harper and Panama Papers.

I'm not surprised.

 

[TenPenny]

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]

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]

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]

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.

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!!

 

[captain morgan]

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?

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

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

 

[bluebyrd35]

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!!

 

[captain morgan]

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]

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]

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]

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 .