Federal Conservatives in Alberta are ripping up their membership cards because they feel betrayed by the Harper government’s decision to tax income trusts, says a Calgary tax lawyer. [h/t My Blahg]
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It was done clumsily, but CPC supporters will come to their senses, even the ones that lost a few K of book value. The ones who actually moved some of their investments into BCE and Telus in anticipation of increased payouts may be less forgiving.
Interesting. Are you a supporter of corporate tax avoidance schemes then?
If this govt, lasts till tax time people will realize it’s much ado about nothing. Most people have their retirement money in mutal funds, fund managers dump the Income Trust stocks from their portfolio for something else. People who have stocks in these companies might see some initial losses but they’ll level out.
It’ll blow over when people realize it was the right thing to do. Most people don’t have a clue what an income trust is anyway.
I’ll believe that when I see it (or see poll results showing .. oh I dont know.. that the Green Party’s popularity in Alberta has jumed 10% or something jaw-dropping).
Careful, Scott. The Greens received 6% of the popular support in Alberta during the 2006 Federal Election. Believe it or not Alberta is a province with a strong environmental sensibility. Sure it’s the home of big oil and the tar sands, but it’s also the home of big sky and wind. Alberta produces the most wind energy of any province in Canada (over 300 MW, or a quarter of our national production), and there are many people out there that want to protect the big vistas from the sight of oil pumps, or who acknowledge that the tar sands development is creating a new environmental catastrophe.
Even Preston Manning mused at one point that the provincial Conservatives could be toppled unexpectedly by a Green Party or a green-like party when the dynasty finally ends. The province is far more environmentally conscious than people think. I could easily see the Greens reaching 10% there.
It won’t come out as a complete wash for the CPC. People applauding the move who didn’t already support the CPC aren’t going to be converted to CPC supporters, and CPC supporters who have decided it was the first and only straw are more likely to find a fringe candidate on which to hang a protest vote than to move to the LPC or NDP.
>Interesting. Are you a supporter of corporate tax avoidance schemes then?
I can’t imagine why anyone would be opposed. It’s cheaper for an investor to have corporations do tax avoidance than for the investor to do so himself - economy of effort. From the investor’s or owner’s perspective, corporate taxes are just personal taxes at one remove.
“CPC supporters will come to their senses.”
Yes, declining support for the Conservatives in the polls suggests you’re right, praise Jesus.
“It’ll blow over when people realize it was the right thing to do.”
I take it this newfound breadth of vision and spirit of forgiveness on the topic of election promises will be applied to McGuinty government by our Conservative friends next election?
“When WE do it, it’s a tough but necessary piece of political pragmatism: when THEY do it, it’s yet another sickening betrayal of a crucial campaing promise by a cynical, corrupt government.” (Pensées Volume IX, Balbulican, Bunker Press, 2002)
Not at all shlemazl, I simply dislike and distrist this government and this party more than I dislike and distrust governments and parties in general.
lRC makes a fair point.
I doubt that many loyalists are tearing up their memberships in protest. The ones who do are unlikely to vote for any other party if they do. The result will probably be some very angry investors who will either turn their attention to another round of Alberta “nationalism” or become apathetic.
For most, loyalists or not, the definintion of an income trust remains foggy. Harper will lose some support over the broken promise. Given that we have grown accustomed to such occurances, hell, we expect them, the damage to him will probably be minimal while the entire government system in this country is clouded yet again in cynicism.


I’ll believe that when I see it (or see poll results showing .. oh I dont know.. that the Green Party’s popularity in Alberta has jumed 10% or something jaw-dropping).