US AND CANADIANS INVESTORS HIT BY THE COLLAPSE OF INCOME TRUSTS IN CANADA.


When the Conservatives promised not to change taxation on Income Trusts during the last election (Prime Minister Stephen Harper said his party would never attack income trusts because he realized they provided crucial income to so many seniors –Jan 2006), many investors believed them and invested further in these assets. Mr Harper broke his promise (oct. 31) and caused a great deal of financial damage to investors.

Canadians and US investors LOST 30 BILLIONS OF DOLLARS on the stock market, since the announcement. Now, they feel duped and cheated.



The minister of Finance, Jim Flaherty, insisted he simply had to stop the erosion of Canada’s corporate tax base. What a lame excuse. He could very easily have accomplished that goal in a different way. He could have allowed existing income trusts to stay the way they were while disallowing any new conversions.

[Dec08'06]: Two new studies, one from BMO Nesbitt Burns and another from PriceWaterhouseCoopers have shown the inherent flaws and misinformation on which the Department of Finance has based its decision to tax trust distributions and to "say no" to the "Income Trust Economy".


All citizens and Seniors especially have a right to a decent income.



DON’T ENCOURAGE THIS BETRAYAL! Support both US and Canadian investors (and seniors citizens).

Sign the petition online (over 1300 signatures + see comments of ANGRY people).

http://www.petitiononline.com/mod_pe...ed.cgi?DC103&1


Join this forum (against the income trust tax and where you can share your political views):
http://www.stockhouse.ca/bullboards/proforum.asp?symbol=$FLOWT&table=PRO

Betrayed investors tell their story here:
http://www.mad-as-hell.ca/ ( read comments of ANGRY people)