TWO BIRDS...

TWO BIRDS
A commentary on a single act essential to the
recovery of Canada’s Economy and to salvage
the reputation of Canada’s government.

Thereby effectively killing two birds with one stone.

By Victor Drummond ©
November 2008

Everyone knows the general classification for any organization that extorts money from honest, hard-working taxpayers without justification.

Organizations that practice this kind of money extraction -- purely on the grounds they do it because they can -- are usually tagged with an appropriate name.

Titles such as:- Thugs, Crooks, Extortionists, Bullies, Thieves, Goons, are among the more polite titles that might be considered applicable.

I am one Canadian that never expected to see the day the above titles could be fitting names for any part of our Federal Government.

A government known world wide for humanitarian qualities and among the first to rush to the aid of people – regardless of nationality -- when terrible natural disasters put the people of any other country in great distress.

These same politicians, however, have selective blindness and loss of hearing regarding appeals from their own honest, hard working citizens who have been financially decimated due to horrendous taxes levied on income that never existed, i.e. Phantom Income.

Whether by good luck or good financial management Canada’s economy has – so far – suffered the least damage of any of the G20 nations.

Many financial experts are saying the road back to world wide economic stability is paved with government tax dollars applied intelligently and effectively to restore:- (1)- consumer confidence in the economy and (2)- buying power.

The United States government has approved 700 Billion dollars to be used to fight the current economic recession. With few exceptions there has been no clear plan of action -- set forth -- for the application of this money.

One notable exception, however, was the passing bill HR 1424 -- at this time – amending their flawed Alternative Minimum Tax legislation, (AMT), and revoking all related taxes on phantom profits and setting a two year limit for compensating those already victimized thereby.

This action indicates the U.S. Congress either believes:-

(1)- A significant amount of recession fighting money will become effective when put back into the hands of taxpayers who were taxed on phantom income.

Or

(2) – Restoring local and world opinion of the United States government -- as an elected body of politicians that truly represent and protect honest, hard working citizens – is worth the cost of revoking all taxes and penalties levied on phantom income regardless of current economic duress.

Or

(3) – A combination of (1) and (2) above – which is truly killing two birds with one stone.

By comparison – so far – our Canadian government has mainly focused attention on our citizens who have recently lost their job – or have been warned they will lose their job soon because of declining sales and increasing cost.

Political party leaders, union bosses and mayors of city’s and towns -- that are now threatened
with economic disaster -- are saturating the news media with appeals for government action to buy-off the threat.

Where were these champions -- of the unemployed and financially distressed -- when the hi-tech market crash of the year 2000 created thousands of honest, hard working Canadians who were suddenly faced with huge taxes – levied on money they never received – and which taxes compounded the distress caused to those who also lost their jobs?

From the year 2001 up to and including the date of this article there has been no public outcry -- by any of our politicians, union bosses, mayors or anyone else in authority – condemning this unfair, unjust, abusive and demoralizing treatment of our fellow Canadians.

Are the victims generated by our flawed taxable benefit legislation – since the year 2001 -- any less worthy of the support of their elected representatives, or their union leaders, or the mayor of their towns and cities, than the victims of the current economic downturn?

So if our government can ignore the 2001 victims of a hi-tech economic downturn there is no honourable reason for providing any kind of financial support to current victims. That would only add favouritism to the list of screw-ups already perpetrated.

No doubt our government has a generous supply of the kind of letters, e-mails etc. sent in reply to those taxable benefits victims who appealed their unjust taxation over the past seven years.

On the other hand if our government would like to kill two birds with one stone they could follow the example set by the U.S. government when they passed bill HR 1424.

Readers are requested to inform their Member of Parliament which action they want the Canadian government to take.

(a) --Follow the U.S. government lead and -- Kill Two Birds with one stone --(duplicate U.S. bill HR 1424 for Canadian Taxable Benefit victims) – or (b) -- turn a blind eye and deaf ear to all appeals for government intervention.

Reference:- www.reformAMT.org and www.cfet.ca and www.yayacanada.com/MPs.html


Victor Drummond ©