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Conference kaosws::canada

Title:True North Strong & Free
Notice:Introduction in Note 535, For Sale/Wanted in 524
Moderator:POLAR::RICHARDSON
Created:Fri Jun 19 1987
Last Modified:Fri Jun 06 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:1040
Total number of notes:13668

872.0. "Debt ?? What debt ??" by KAOFS::D_STREET () Thu Nov 17 1994 13:51

    Yesterday on the radio, a Liberal MP was giving some pretty disturbing 
    information about the debt, and what can be done to pay it off. He
    claimed the following:
    
     40 Billion dollars in DEFERED taxes for corperations. (Tax on *profit*
    that has been defered) His implies that the money will continue to be
    defered and never paid.
    
     60,000 ***profitable*** corperations paid NO TAX at all
    
     Corperate share of tax burden 8%. 10 years ago (before Mulroney) it
    was 11%. In the 1950's it was 50%. The difference has been made up on the
    back of you-know-who.
    
     The interviewer made the obvious observation:
    
    		With talk like that, you sound like the NDP !!
    
     The MP's response was if everyone knew what was going on, they would
    all sound like this.
    
    								Derek.
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872.1POLAR::RICHARDSONDoing whirly twirliesThu Nov 17 1994 17:478
    corpOrations.

    Incredible isn't it? $40 Billion.

    The governments are too scared to tax for fear of jobs going elsewhere.
    It's a real catch 22 when you think about it long enough.

    Glenn
872.2CTHU22::M_MORINA dead mean with the most toys is still a dead man.Fri Nov 18 1994 12:474
Actually apparently half of those profitable corporations declare incomes via
their parent companies who in turn pay the taxes.

/Mario
872.3Yea rightKAOFS::R_DAVEYRobin Davey CSC/CTH dtn 772-7220Fri Nov 18 1994 14:423
    And most likely to a foreign government!
    
    Robin
872.4POLAR::RICHARDSONThe Pantless Snow-BaggerFri Nov 18 1994 17:004
    I thought the 40 Billion is taxes that are owed but revenue Canada has
    deferred the payment of.

    Glenn
872.5scarely businessPOLAR::KYOBESat Nov 19 1994 08:593
    Re.3 and posibly U.K
    
                  MIKE.
872.6KAOFS::D_STREETMon Nov 21 1994 11:3012
    POLAR::RICHARDSON
    
    >>I thought the 40 Billion is taxes that are owed but revenue Canada has
    >>deferred the payment of.
    
     That's the impression I got.
    
     there is a song out these days... Eat The Rich, I say why not, they
    have been eating our lunch since the 50's, and claiming it as an
    expense.
    
    							Derek.