Wednesday, February 28, 2007

Weird, Just Plain Weird

OK, get this. The Finance Minister of the recently elected Conservative government declares that corporations that take advantage of a long-standing, legal structure are avoiding taxes and costing the government billions of dollars, and proposes a large tax increase. That country's stock market reacts violently to the proposal. The hew and cry is so great that the Liberal opposition teams up with another minority party to oppose the measure, calling it "devasting" to investors and the investment climate in the country. As an alternative they propose only a modest increase in the tax or a 10 year grace period under the existing rules. In addition, this leftist coalition calls for the Conservative majority to transparently make the case for their policy proposal and demand that it be put to a vote as an individual matter rather than bundling it with other, less controversial proposals. Welcome to Canadian politics.

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