Monday, February 22, 2010

Flaherty's Task force on Financial Literacy meets 18 pages of blacked out documents

Flaherty’s web site for the Task Force on Financial Literacy starts with the tag line “Consulting with Canadians”. Maybe it should read “Insulting to Canadians” after all, what is more insulting or hypocritical than a Finance Minister pretending to care about financial literacy who at the same time issues 18 pages of blacked out documents to disguise the fact that his tax leakage analysis is fixed, as in falsified?

As for financial literacy, I know that Jim Flaherty is the one Canadians most in need of financial literacy as the man does not even understand the meaning of "Accrual Accounting", for if he did he would not have left out the deferred taxes that are paid by the 38% of income trusts held in RRSPs as accrual accounting (which is how the government's books are audited by the Auditor General) require that these deferred taxes be acknowledged as today's taxes, and hence Flaherty's tax leakage argument is patently false.

Please visit this latest exercise in nonsense:

Task Force on Financial Literacy
Consulting with Canadians

Have Your Say
Your input matters

Do you have ideas for strengthening financial literacy in Canada? We want to hear from you. The Task Force on Financial Literacy is holding a consultation process to gather ideas and insights from individuals and organizations across the country.

There are a number of issues and questions on which we would like your feedback. These are provided in our consultation document – Leveraging Excellence: Charting a course of action to strengthen financial literacy in Canada.

You can provide your feedback to us in the following ways:

By sending a formal written submission to the Task Force by Friday, April 30, 2010, through one of the following means:



We will soon be launching an online tool that will allow you to upload a submission through our website.

To be notified when this feature becomes available, subscribe to our Email Newsflash.


Mail: Task Force on Financial Literacy
255 Albert Street
11th Floor, Ottawa ON
K1A 0G5


Dr Mike said...

"consulting with Canadians"---what a crock-O-shite.

This guy has no more intention of consulting with you & I than Tiger Woods has of being monogamous.

If this Flaherty guy had our best intentions in mind , he would have talked to us before crushing us with the income trust tax.

His tax ruling cost many people 20-40% of their life savings virtually over night & I would be willing to bet the rest of what I have on the fact that he never checked with one ordinary Canadian before he made the ruling.

He just didn`t care what harm his tax would have on the guy on the street.

This whole thing is ridiculous much like the fact that Jimmy is the Finance Minister in the first place.

Dr Mike Popovich

Anonymous said...

Financial Literacy

Well lets start with politicians
promising not to lie when it comes to issues concerning my Money !

Stephen Harper/ Flaherty Promised
not to tax income trusts, and would not raid seniors nest egg !

So off I go take my hard earned money which is not in a private and /or public pension, and continue to invest in my income trusts in which I have been invested for 12 years.

Then WHAM !!! LIE !
on Oct 31st 2006 Steven Harper/ Flaherty taxes income trusts and WHAM !! there goes my pension.

That was a perfect case in finacial literacy.
What Stephen Harper/Flaherty probably said was:
" I will tax Income trusts "
I probably did not understand because I required a financial literacy consult prior to
Oct 31st 2006.

Now Harper/Flaherty are saying I need a financial literacy
Well, Mr Harper I do not need a literacy consult I need the
Marshall Savings Plan which I do understand because what I do not understand is what happened on
Oct 31st 2006 ?

All you have is blacked out documents, and speaking of literacy
how am I suppose to read these documents ?

What a charade from this Harper/Flaherty Conservatives