Prof. Laurence D. Booth (Booth@rotman.utoronto.ca)
J. L. Rotman School of Management
University of Toronto
105 St. George Street
Canada M5S 3E6
Dear Mr. Booth:
I am a senior citizen who has had the value of my retirement savings severely diminished by the unexpected and unwarranted tax being imposed on income trusts.
In addition, I have lost a portion of my retirement income stream because this proposed tax has caused some income trusts to either disappear or curtail their distributions. Also, when this tax comes into effect, and the income trust investment option disappears, I will the loose the majority of my current investment income stream.
I will then be forced to survive on a small pension income with few options to derive reasonable returns from my reduced retirement savings.
As the government has imposed this income trust tax fiasco on Canadian’s based on the false concept of tax leakage, I am extremely distressed by your misleading comments on CBC Question Period last night.
You stated “the whole of the corporate income tax base was possibly at risk, or at least a significant part of it was at risk.” which seemed to indicate that the government took the proper action to tax income trusts.
I believe that your statement was misleading at the least and possibly a complete fabrication at the most and requires public clarification.
Could you please explain with clarity, the exact risk related to the corporate income tax base?
I for one do not believe that you can as there was no risk to the tax base; in fact real damage to the corporate tax base has now occurred as a result of this fallacious income trust tax proposal.
I believe you have committed a great injustice to all Canadians for making this misleading statement on public television and I believe that you should either prove that there was a risk or apologize publically for making such a serious misleading statement.
I look forward to your response.
Gerry XXXXX (a senior citizen)
Saturday, February 27, 2010
Dear Professor John Wilkes Booth, assassin of income trusts and professor at the Rotten School of Mismanagement
Posted by Fillibluster at 3:10 PM