Monday, May 16, 2005

What's the Tax Rate on Stolen Cash?

When I finally scrape up the money to pay what I owe Revenue Canada, I will pay 7% interest, compounded daily:

Canada Revenue Agency interest rates for the second calendar quarter
Ottawa, March 7, 2005... The Canada Revenue Agency (CRA) today announced the prescribed annual interest rates that will apply to any amounts owed to the CRA . . . in effect from April 1, 2005, to June 30, 2005.
Income tax
The interest rate charged on overdue taxes . . . will be 7%.

Payment arrangements
If you cannot pay your balance owing on or before
April 30, 2005, we will accept a payment arrangement only after you have reasonably tried to obtain the necessary funds by borrowing or re-arranging your financial affairs. We still will charge daily compound interest on any outstanding balance starting May 1, 2005, until you pay it in full.

The Liberal Party is still refusing to set up a trust to reimburse the treasury for the money they stole. Of course they made cash transactions and we'll never have a true accounting, but they won't even humour us. How much interest do you suppose they'll charge themselves on their ill-gotten-gains? Naw. Didn't think so either.

They steal from the poor, give to their friends -- and every day they smirk about it during Question Period. They got away with it. And they'll keep getting away with it -- if Canadians can be conned into believing that defeating the budget is 'killing the deal for cities" and "scrapping the Atlantic Accord". There was an excellent column by of the Winnipeg Sun about this yesterday.

There will never be answers. That money is gone and unaccounted for as though it never existed. And they sip their wine, drive their fancy cars and travel around on a government jet to spend more of our money to buy votes . . . as I watch it all I can't help but wonder . . . how many of those guys who took cash in brown paper bags will ever have to pay taxes on it?

Thought not.


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