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Paul (Martin) ships out
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| Fir3start3r |
In all the scandals and other crap that's orbiting the Liberals, I totally forgot about this... :whip:
I hope this douche bag disintegrates into moon dust...
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December 20, 2005
Paul ships out
By MICHAEL HARRIS
I used to think that the funniest thing that Paul Martin ever did was sending Christmas cards to a dead dog in Victoria who had somehow managed to get on the corporate mailing list.
But then he went one better: He said that Stephen Harper wasn’t fit to run for the office of prime minister.
The occasion for that remark, a difference of opinion on same-sex marriage, is not the interesting part of the assertion. Paul Martin has been slicing political bologna for so long I’m sure he thinks it’s foie gras.
But his comment about the Conservative leader implies that he, Mr. Martin, is fit to run for the highest office in the land. It got me to wondering what he could mean.
Could it have been the way he handled the built-in conflict of interest of being the owner of CSL at the same time as he was finance minister? I guess it depends on how you view the facts.
Here they are: When Barbados created a new class of offshore companies back in 1991, Canadian companies who routed their business through Barbados qualified for a corporate tax rate of between 1% to 2.5%. The comparable rate in Canada, including provincial corporate taxes, was approximately 40%.
As you might imagine, Barbados proved pretty popular with the monied classes. Between 1990 and 2001, Canadian investment in Barbados went up 1,453%. It was a deal that cost Canada $1.5 billion in lost revenue but saved companies like Mr. Martin’s $2.5 million in taxes for every $10 million of taxable income.
Not such good news
This was not such good news for Canadian merchant mariners. As a matter of fact, the crew members of one Canada Steamship Lines vessel were replaced by Ukrainians. Ukrainians, it turns out, are cheaper than Canadians. There were other changes. The flag of Barbados was raised where the Maple Leaf used to fly.
As CSL explained, it was a dog-eat-dog world; any ship registered in Canada was required by law to have a fully Canadian crew. So the company had no choice but to move its international subsidiary Barbados, where it would continue to pay 2% tax on its corporate profits.
In 2002, the auditor general called on the government to amend Canada’s treaty with Barbados, which was originally aimed at protecting companies that did business in both states against double taxation, but which was now attacking the integrity of our tax base.
It was an awkward moment for Paul. On the one hand, he was finance minister of Canada and on the other CSL International was saving millions by paying taxes in Barbados. Increasing Martin’s dilemma, Canadians who paid their taxes in Canada at a rate somewhat higher than 2% had coughed up federal contracts, grants and other contributions to CSL totaling $161 million over the period of a decade.
Then-finance minister Martin took decisive action in his very first budget back in February 1994. Thanks to him, Canadian companies would no longer be able to bring dividends from foreign affiliates back into Canada tax-free.
Rich guys, including Paul Martin, had to face the Canadian taxman. There was only one exception to the new regulations: Barbados. And that’s where Martin moved seven of his Liberian-registered CSL International ships and continued to enjoy a 2% tax rate.
Blind trust
Did Canada’s finance minister for a decade ever make decisions that benefited his own company? The way politicians normally deal with that issue is by either selling their assets or putting them in a blind trust run by a trustee who manages them without input from their owner until such time as he becomes a private citizen again.
But Canada’s finance minister did not place CSL in a blind trust. Instead, he set up a “blind” management agreement with 20/20 vision. Under the agreement, he was allowed to meet with corporate officers of CSL on a dozen occasions with the full approval of that paragon of public virtue, ethics poodle Howard Wilson.
Fortunately, we have it on Mr. Martin’s word that he never used those meetings to instruct CSL’s officers how to conduct the business. At least now, we no longer have to worry about Mr. Martin’s conflict of interests as he has divested CSL to new owners — his sons.
Still, if I were Paul I wouldn’t start a vigorous debate over who is fit to run for prime minister, unless of course, he is talking about Barbados.
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| Jayx1 |
| if only we had responsible and unbiased media in canada. Maybe then people would realize this scandal for what it is |
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| daves |
man, does the mudslinging ever end with you guys?
Is this an opinion article or actual news? oh wait, it's the Toronto Sun, is there any difference?
Why don't you tell us what your chosen political party is going to do to help this country and why we should also help bring them in, rather than offering the same drivel ad nauseum about how evil the Liberals douchebags are? |
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| Jayx1 |
well when there are soooo many illustrations of how bad they are, yet people still vote for them its hard not to keep talking about it. After all that these guys have done to screw us over, they could get re-elected. Just the fact that they even have a chance blows my mind.
Even if you vote Conservative, NDP or Green, just dont vote liberal.
They dont deserve ANYONE's vote after 12 years of lies, scandals and mismanagement right down to the personal finances of the prime minister himself. |
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| Fir3start3r |
| quote: | Originally posted by daves
man, does the mudslinging ever end with you guys?
Is this an opinion article or actual news? oh wait, it's the Toronto Sun, is there any difference?
Why don't you tell us what your chosen political party is going to do to help this country and why we should also help bring them in, rather than offering the same drivel ad nauseum about how evil the Liberals douchebags are? |
Because some people just (still) don't get it.
This arguement of "voting for the devil you know rather than the devil you don't" is SUCH a crock! That's why we have elections. Hell, our government structure is such a pushover we can have a vote of non-confidence and CREATE an election.
It's a built-in system of checks and balances if the government is that bad.
The whole point is, yes it's opinionated because I'm totally pissed off and I'm venting.
The more I read about all the crap the Liberals have pulled in the last 12 years the more infuriated I get.
More so when people non-chalantly mention, "Oh I think I'm going to vote Liberal because the economy is doing well" and then continue going about their 'busy' lives with their cell in their ear, talking loud like they're making million dollar decisions and walk off like they just made a rational decision.
Wow...the economy...like the Liberals actually had something to do with that...
Hellllooooooooo....do these people not READ what they've done to us in the last 12 years???
GAHHHHHHHHHHHHHHHHHHHHHHHHHH! :mad: |
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| Jayx1 |
| quote: | Originally posted by Fir3start3r
Because some people just (still) don't get it.
This arguement of "voting for the devil you know rather than the devil you don't" is SUCH a crock! That's why we have elections. Hell, our government structure is such a pushover we can have a vote of non-confidence and CREATE an election.
It's a built-in system of checks and balances if the government is that bad.
The whole point is, yes it's opinionated because I'm totally pissed off and I'm venting.
The more I read about all the crap the Liberals have pulled in the last 12 years the more infuriated I get.
More so when people non-chalantly mention, "Oh I think I'm going to vote Liberal because the economy is doing well" and then continue going about their 'busy' lives with their cell in their ear, talking loud like they're making million dollar decisions and walk off like they just made a rational decision.
Wow...the economy...like the Liberals actually had something to do with that...
Hellllooooooooo....do these people not READ what they've done to us in the last 12 years???
GAHHHHHHHHHHHHHHHHHHHHHHHHHH! :mad: |
EXACTLY!!! |
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| daves |
you know what? that's honest and I like when you can at least say it's opinionated and you're pissed and such and such is your feelings about it... that's fair.
but still, wouldn't you feel better if you helped people to choose in a different path, what you would consider a better path, by helping to bring light to what you consider a better alternative?
I think that's where people are right now, they don't want to just hear about what others have done wrong because that doesn't tell them who's going to do right and how and why that is right. I don't think that just illustrating the wrong actions of the current government is going to be enough to break the increasing amount of apathy in people regarding who's running their country. |
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| Jayx1 |
we have to assume that others will do better than these bunch of clowns. And if they dont, then in 4 years we should toss them out again.
Thats WHY WE HAVE ELECTIONS |
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| Fir3start3r |
| quote: | Originally posted by daves
you know what? that's honest and I like when you can at least say it's opinionated and you're pissed and such and such is your feelings about it... that's fair.
but still, wouldn't you feel better if you helped people to choose in a different path, what you would consider a better path, by helping to bring light to what you consider a better alternative?
I think that's where people are right now, they don't want to just hear about what others have done wrong because that doesn't tell them who's going to do right and how and why that is right. I don't think that just illustrating the wrong actions of the current government is going to be enough to break the increasing amount of apathy in people regarding who's running their country. |
I wouldn't presume to tell anybody how to place their vote; that's where a personal, informed decision has to be made by themselves.
Different strokes for different folks yea know? ;)
It's the ones with the crystal balls who think the Liberals will 'get back in' for some unbeknownst reason other than some lethargic excuse.
I want to grab those people by the shoulders and wake them up from their political Snow White coma they appear to be in.
Hopefully the kiss of wisdom will open their eyes at least...
one could hope anyways... |
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| Wyndham |
| quote: | Originally posted by daves
man, does the mudslinging ever end with you guys?
Is this an opinion article or actual news? oh wait, it's the Toronto Sun, is there any difference?
Why don't you tell us what your chosen political party is going to do to help this country and why we should also help bring them in, rather than offering the same drivel ad nauseum about how evil the Liberals douchebags are? |
and i guess u read the star?
i can't understand how u protect the liberals after all they've done...haven't u heard enough reasons to vote for ANY other party? who cares who u vote for, i just can't believe its actually the liberals..blows my mind, and people defend them till the end of the earth..its crazy. |
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| cyper |
I didnt ing bother reading the entire ing arguement. Soooo.. from my drunking point of view.
If you think politics is a bunch of bull which will never change & is a bunch of ing lies.. then good luck with the nut jobs that think otherwise.
Soo.. uhh. . Goodluck.:)
:D |
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| daves |
| quote: | Originally posted by Fir3start3r
I wouldn't presume to tell anybody how to place their vote; that's where a personal, informed decision has to be made by themselves.
Different strokes for different folks yea know? ;)
It's the ones with the crystal balls who think the Liberals will 'get back in' for some unbeknownst reason other than some lethargic excuse.
I want to grab those people by the shoulders and wake them up from their political Snow White coma they appear to be in.
Hopefully the kiss of wisdom will open their eyes at least...
one could hope anyways... |
you wont presume to tell people how to place their votes... but arent you presuming to tell people how not to place their votes? |
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