The PM and his minions at the PMO may be good communicators but maybe they should be better fact checkers also. In his year end rah-rah interviews, Harper tells us that he is not worried about the problems with the Keystone XL pipeline project, designed to carry raw bitumen from Alberta to Texas, because he will sell the stock to China instead. Fine idea but just one problem.
The North American Free Trade Act (NAFTA) has a clause that maybe he should read again.
The clause is referred to as Proportionality. In essence it states that Canada cannot reduce the percentage of oil and gas we now export to the United States even in times of domestic shortages. That clause applies a percentage of our overall production that we must send to the US. What does it mean when part of our production goes to China? Does that mean that Canadians have to use less than we do now? You can't take it from the allotment to the US so it has to come from somewhere.
In a report on Proportionality, co-author Gordon Laxer, a political economist at the University of Alberta, stated this: “The Canadian government must realize it is the only country in the world that has jeopardized the energy needs of its people in this way, and move quickly to exit the proportionality provisions of NAFTA.”
Maybe it is a problem, Steve?
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Showing posts with label US. Show all posts
Showing posts with label US. Show all posts
Tuesday, 20 December 2011
Wednesday, 31 August 2011
Taxes and the deep blue sea
Remember back a few weeks when I wrote about corporations and taxes? I read an interesting article in the SUN the other day.
According to a pay study in the US, 25 of the top 100 CEOs in the US were paid more by their companies than their companies paid in taxes. And many of those same companies paid more in lobbying fees than in taxes.
Stated another way... What?!!!
Two-thirds of the firms studied kept their taxes low by utilizing offshore subsidiaries in tax havens such as Bermuda, Singapore and Luxembourg. The remaining companies benefited from accelerated depreciation.
The LOOPHOLES are so big you could drive a Boeing aircraft with GE engines right through them.
Boeing paid CEO Jim McNerney $13.8 million, sent in $13 million in federal income taxes, and spent $20.8 million on lobbying and campaign spending while General Electric CEO Jeff Immelt earned $15.2 million in 2010, while the company got a $3.3 billion federal tax refund and invested $41.8 million in lobbying and political campaigns.
I wonder what a similar study in Canada would reveal?
According to a pay study in the US, 25 of the top 100 CEOs in the US were paid more by their companies than their companies paid in taxes. And many of those same companies paid more in lobbying fees than in taxes.
Stated another way... What?!!!
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The LOOPHOLES are so big you could drive a Boeing aircraft with GE engines right through them.
Boeing paid CEO Jim McNerney $13.8 million, sent in $13 million in federal income taxes, and spent $20.8 million on lobbying and campaign spending while General Electric CEO Jeff Immelt earned $15.2 million in 2010, while the company got a $3.3 billion federal tax refund and invested $41.8 million in lobbying and political campaigns.
I wonder what a similar study in Canada would reveal?
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