Thursday, July 1, 2010

From a Canadian Reader

The Canadian banks were founded by conservative Scotsmen who instilled a culture of fiscal prudence in the Canadian banking industry.

What is interesting is that Canada is lowering corporate tax rates at the same time the U.S. is proposing to raise them. By July 1, 2013 the top corporate tax rate on active business income will be only 25%.

Many small corporations will only pay 15% tax rate on the first $500K of income.

On top of that Canada has introduced legislation that will make it even easier for foreigners to invest in Canada. For example, a foreigner who invests in shares of either a private corporation or a publicly traded corporation will pay no Canadian tax when the foreigner sells the shares unless the corporation derives more than 50% of its value from real property in Canada. Canada is opening its doors to investment at the same time the U.S. is threatening the very existence of a corporation.


To which I respond;

"That is because Canada has Steve Harper, an economist, as their premier and we have a bleeping "community organizer" who doesn't have any real world experience."

Post note - It has been duly noted that Mr. Harper was not in fact an economist, but rather has his degree in economics. My apologies for being misinformed. Would anybody care to trade then?

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