Sunday, November 24, 2013

It’s Time for a Corporate “Cash Tax”

It’s Time for a Corporate “Cash Tax”

In the past decade we have seen a 50% reduction in corporate income taxes – to the current low of 15%. During that same period of time we have witnessed slow economic growth, increases in unemployment and structural unemployment, continued demise of our manufacturing sector, investment in off-shore ventures rather than domestic investment, increase in consumer per capita debt because of “real wage” stagnation, and unprecedented increases in CEO compensation. These are but a few of the concerns facing the Canadian economy.

It is estimated that Canadian corporations have liquid cash approximating $500 billion to $1 trillion - this at a time when we have a growing crisis in college/university graduate unemployment.

If corporations will not invest in Canadians, research and development, innovation or otherwise then we must TAX their EXCESS.

Banks are notable corporate criminals. They have managed to sustain a low-interest rate environment, only because they continue to dispense new fees, and increase current FEES. This questionable success is however masked by a perilous financial demon. While everyone applauds the success of Canadian banking, and while bank CEO’s continue to make millions in salary and bonuses, our top six banks have a derivative debt in excess of “$30 TRILLION”. Mr. Harper is attempting to DUMP this financial demon on the Canadian public – via “bail-in” legislation. Harper continues, in SECRET, to increase corporate dominance by his membership in the TPPA (i.e. Trans-Pacific Partnership Agreement).

Oil companies are thieves. Harper has made DIRTY oil the number one prior of this country. Not only have oil companies admittedly stolen millions from consumers at the gas pumps (i.e. by over-charging), they continue to defraud Canadians through controlled price fixing. This in direct contravention of the “Combines Act”.

Banks and oil companies CANNOT be allowed to make billion dollar bottom lines. This is called FASCISM.

It is time to “tax the cash".  - Forget about the Carbon Tax!

Thank you,
Joseph Pede

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