BUSINESS REPORTER
Canada's banks have issued a veiled warning to the government of Ontario – cut corporate taxes or risk losing high-paying financial sector jobs to other jurisdictions.
The Canadian Bankers Association – which represents 51 domestic and foreign banks – is telling Ontario in a carefully worded pre-budget submission to cut corporate taxes in its next budget. It argues that tax cuts are necessary to boost the province's productivity, which is key to preserving a high standard of living and "a large number of high-quality, high-paying jobs."
Read on...
This headline should be a clarion call to revolution. This headline should herald a replay of the Russian Revolution. The utter arrogance, selfishness, and ignorance of the Canadian Bankers Association is disgusting. Let Peacenik get this straight. The financial industry through its own malfeasance created a bunch of debt that is now worthless. The worthless debt is sucking all the wealth generated in the last 20 years into a black hole. Our feckless political leaders have already committed more than $25 billion of taxpayer dollars to help the financial industry.
And now at a time of crisis, when everyone should be working together to avoid financial Armageddon, the bankers see an opportunity to push for lower taxes. If any bank wants to change jurisdictions let them first show the public what assets they hold on their balance sheets. And if they are bankrupt, then force them into bankruptcy. Fire every one of them and arrest every one of them that has committed any crime. Confiscate every piece of property they have gained through any illegal activities. The Canadian Bankers Association makes a mockery of corporate social responsibility. Peacenik needs to calm down.
The Canadian Bankers Association – which represents 51 domestic and foreign banks – is telling Ontario in a carefully worded pre-budget submission to cut corporate taxes in its next budget. It argues that tax cuts are necessary to boost the province's productivity, which is key to preserving a high standard of living and "a large number of high-quality, high-paying jobs."
Read on...
This headline should be a clarion call to revolution. This headline should herald a replay of the Russian Revolution. The utter arrogance, selfishness, and ignorance of the Canadian Bankers Association is disgusting. Let Peacenik get this straight. The financial industry through its own malfeasance created a bunch of debt that is now worthless. The worthless debt is sucking all the wealth generated in the last 20 years into a black hole. Our feckless political leaders have already committed more than $25 billion of taxpayer dollars to help the financial industry.
And now at a time of crisis, when everyone should be working together to avoid financial Armageddon, the bankers see an opportunity to push for lower taxes. If any bank wants to change jurisdictions let them first show the public what assets they hold on their balance sheets. And if they are bankrupt, then force them into bankruptcy. Fire every one of them and arrest every one of them that has committed any crime. Confiscate every piece of property they have gained through any illegal activities. The Canadian Bankers Association makes a mockery of corporate social responsibility. Peacenik needs to calm down.
