I’m a bit nervous with the approaching G20 that will be held right here in Toronto in June, because such a meeting will most likely make things either better or worse for us little guys of the world.
May I please take this opportunity to beg our world leaders to please think ahead for a moment, envision things as you would in a chess game, if you pull out your queen too soon, that may be the end. Also, consider what the real win is. Let me remind you, it’s not to make the bankers even more rich, it’s actually the betterment of mankind! Your job is to make our lives great and not to punish us for being alive. We should all live like kings!!!
Think of the children and the future of the human race. Do not protect the greedy and rich! Your number one priority is to make our lives better. Stop taxing us to death just so you can feed those evil institutions. Let us enjoy our lives because this constant fear and oppression you’ve got us living in is really disgusting! Shame, Shame!
Where is this coming from, you wonder? Well, I sense that our leaders don’t care about us and are fine with people living in dire straights. How can we keep up when we are constantly being taken by the people that should be looking out for us!
Now Canada’s Financial Minister does not want the tax payers stuck with future bank bailouts, but is that really sincere? I hope so because I want to believe that the government will protect it’s people and not allow them to be responsible for bailing out irresponsible private institutions! If a company or bank fails then they should be held accountable and not the taxpayers! Enough is Enough! No more of this nonsense.
You can’t blame the people for not trusting after their poor track record. Bailing out auto companies and banks without the permission of the people was not a good idea. What about that horrid waste of our money on the “mild” H1N1 flu. We should be refunded and not taxed even more! Instead the H.S.T. is coming, but why? Now the green tax and smart meter rates will be showing up on our hydro bills too! There is no proof that man has any impact on Climate Change! Ever hear of Climate-gate! Oh please don’t tax the people because they already got lots on the way for their already full plates! Please save your crocodile tears.
Well you are underestimating us because the people DO have lots of power and to think that we are going to be okay with taxing us to death is a joke. We will change things, trust me! We are going to vote in the good people, just you wait and see. Oh and I’m not going to buy crap from your big blue chip companies or things made outside of Canada, The US, Italy and Germany. I’m also done with fast food. Just you wait and see, we are in charge here and you work for us!
Things look good for Rob Ford, he just may win the race for Toronto Mayer and then maybe PM of Canada! He would straighten out those New World Order crooks!
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Toronto Sun Article- Canada won’t allow banks to be penalized by tax
Canada will not allow its financial institutions, which all survived the market meltdown without needing government bailouts, to be penalized by a global bank tax, Finance Minister Jim Flaherty said Wednesday.
Speaking at a conference in Toronto, Flaherty said Canada would oppose efforts to impose such a tax, which is on the agenda for discussions among global finance ministers later this week. The G7 nations meet Thursday evening, followed by a wider meeting of the G20 at the weekend.
“We will not go down the route of excessive and punitive regulation,” Flaherty said.
The International Monetary Fund has proposed a two-part levy on banks to build up a fund that could be used for future bailouts, according to documents obtained by the BBC. The banks would pay a flat fee and also a tax linked to their profits. The idea was welcomed by France and the United Kingdom.
Flaherty said such a tax could encourage reckless behaviour giving banks the idea the government will step in if they get into trouble.
“I do not believe it’s an appropriate tool for all countries, including Canada,” he said, adding it may even weaken a bank’s ability to absorb losses.
Flaherty said he agreed that taxpayers should not be expected to bear the costs of bailing out errant financial institutions.
He said he favoured creating a layer of “embedded contingent capital” which could be converted into common equity if the bank gets into trouble. This would shift the burden away from taxpayers to investors and debt holders, he said.
The finance minister said he hoped the weekend meetings would focus on issues such as how to cap excessive leverage and on encouraging prudent long-term behaviour, rather than getting “distracted” by a tax on banks.
Canada will host a meeting of the G20 finance ministers in June.