Harper Doles Out MORE Corporate Welfare Without Any Mechanism For It To Create Jobs
Why aren't your multi-Billion dollar corporate tax cuts tied to ACTUAL job creation?
A Canadian taxpayer
OTTAWA - Profitable Canadian businesses are set to reap $2.85 billion in additional income tax savings in 2012, even as Prime Minister Stephen Harper complains about all the private "money sitting on the sidelines."
The last of five annual corporate tax cuts took effect Sunday, reducing the federal rate by another 1.5 points to 15 per cent.
The move comes as corporate Canada, from multinationals to midsize businesses, squirrels away hundreds of billions of dollars as it rides out a second storm of global economic turbulence in the past three years.
The latest figures from Statistics Canada through the third quarter of 2011 show Canadian business sitting on more than $583 billion in Canadian currency and deposits, and more than $276 billion in foreign currency.
Those cash reserves have climbed nine per cent since last year and 27.3 per cent since 2007, when the Canadian economy was booming and new corporate tax cuts were announced.
Even after removing Canada's banks from the equation, non-financial corporations saw their currency and short-term paper assets climb $33 billion in the third quarter of 2011.
Harper referred to all that stagnant capital at the end of a frustrating G20 summit in November in France, where global leaders failed to find much consensus.
"I should be clear on this: you know, I see every reason that markets ... there's a lot of money sitting on the sidelines, looking for opportunities," Harper said in Cannes.
WFP
Harper does give banks, mines, large company's and oil and gas corporations billions of our tax dollars. That was seen on, the House of Commons TV channel. He also gives them huge tax reductions. Harper thieves from the citizens, to give to the wealthiest outfits in the world.
Harper does not protect Canadian jobs. China is sending their people to school, to learn English. They will work the coal mines.
An American company won the contract for, the tear down of a smelter in Kitimat BC. They brought their own workers.
So, the Enbridge pipeline and the dirty oil tankers from China, bring no jobs to BC. BC just gets all the risk.
Gordon Campbell sent some of the mills to China. They also get our raw logs. This cost the BC mill workers, 131,000 lost jobs, and 51 closed mills.
The gigantic corporations make trillions from our natural resources, while Canadians lose out on the jobs.
The wealthy greedy corporations, all line up at the trough and squeal for more money. All the services we pay through the nose for, get slashed, for the greedy s.o.b. corporations benefits.
Things of course in BC, are much worse. The BC people get thieved from, the Campbell/Clark BC Liberals and Harper both. BC after all, is the most corrupt province in Canada.
Posted by
Anonymous |
4:50 pm, January 03, 2012
B.C. is not only losing in forestry but also soon to be in fisheries when fracking starts to intensify. The sad reality is that even as the U.S. starts to decline, people still vote Republican. How to motivate voters to see the sense of ousting the neocons?
Posted by
sailsmart |
5:58 pm, January 05, 2012
The U.S. are angry that the Keystone XL pipeline itself was built in India, South Korea and Russia and the only evidence there is to it was through shipping manifests in Texas. You know they could have used the jobs, they had the steel. India steel is poor quality and prone to breaks as it is recycled. Who knows what other outsourcing is going on with this free boarders policy? And no wonder the Americans smelled a rat.
Posted by
sailsmart |
6:02 pm, January 05, 2012