If, like me, you were rather appalled by the hypocritical yet predictable enconiums offered to Jm Flaherty by his political foes, you will likely enjoy this letter from Ottawa Star reader Morgan Duchesney, who renders a far more realistic appraisal of the departing Finance Minister:
Re: Chance for a fresh start, Editorial March 19
As Jim Flaherty retires to “private life,” I wish him a speedy recovery from his lingering illness. Missing from the goodbye accolades is any mention of Flaherty’s greatest failure. Whether sick or healthy: Flaherty lacked the will to take any serious steps to collect the billions in unpaid taxes that sit safely in foreign tax shelters.
Flaherty’s tired excuse about not wanting to punish “job creators and innovators” is a bit threadbare in light of abysmal levels of corporate investment in Canada. If Canadian corporations are operating overseas while shifting profits to low-tax jurisdictions, exactly who is benefiting and just how “Canadian” are these companies if they employ foreigners and only benefit arms-length stockholders?
I challenged Flaherty’s flimsy logic whereby pursing elite tax evaders will increase the likelihood of capital flight, higher consumer prices and corporate bankruptcies. The possibility of these eventualities raises an interesting question: what do corporations receive in exchange for their taxes?
Perhaps defenders of offshore tax shelters and corporate tax cuts forget that taxes pay for education, health care, infrastructure, public administration, law enforcement and the military. Without these programs there could be no business and large businesses benefit exponentially from tax-funded public services.
Beyond the fact that he has been busy turning Canada into a tax shelter; there is a more practical reason for Flaherty’s tax shelter reticence. I expect Flaherty, like his colleague Jim Prentiss; will resurface as a banking executive. To complete the circle; his replacement, Joe Oliver shifted from investment banking to the world of politics. Perhaps it is time for some fresh ideas at Finance?
Lorne, I doubt there will be any new ideas for finances as long as micromanager Harper is at the helm. As long as uninterrupted practice of the corporations continues rich will continue to get richer and poor will get poorer.
ReplyDeleteMay Flaherty have speedy recovery from his health. Given his health I don’t think he will undertake a new job but I am probably wrong.
Your assessment of the finance department is, I think, spot on, LD. Given my observations of past 'masters of the universe,' however, I don't think that Flaherty will go "gently into that good night." I'm sure his ego is such that he believes he has much more to 'contribute' before he bids adieu.
Delete.. a key Harper handmaiden .. a perfect little complicit enabler. I see him more as a legislative mechanic & financial tool servicing The Harper Brand. He should spill his guts.. lord knows he has to have incredible background details re essentially all the Harper machinations. Apparently he saw no problem with fabricating the infamous Omnibus 'budgets' .. laden with destructive bomblets per Harper demand
ReplyDeleteThe secrecy of this regime has been staggering, Salamander. I'm sure Flaherty would have much to tell, but I suspect he will be 'a good soldier' until the end unless, of course, he decides to write his memoirs. ;)
DeleteI wish him a speedy recovery from his illness, Lorne. But I offer him no praise.
ReplyDeletePrecisely my sentiments as well, Owen.
DeleteBay Street- DIL-BIT NIRVANA. Conservative Finishing School & Retirement Lodge.
ReplyDeleteA place where all good Con retreads feel at home and are never turned away, I assume, liberalandlovingit?
Delete