Preston Manning … A Wannabe

 

Very recently, Preston Manning concluded his annual Networking Conference here in Ottawa.

He gave the keynote speech where he identified the most pressing issue for us Conservatives – the need to be more environmentally conscious.

Yes, you read that correctly – we need to be more Green, as per the Green Party of Canada.

Never mind that the environment registers with the public right down there in the cellar … that is what he sees as our major need.

Let me be clear at the outset, I do not respect Preston Manning and his recent pronouncement only reinforces my poor opinion of him.

My colouring of Manning changed long before he became Leader of Her Majesty’s Loyal Opposition in 1997 but he certainly did not endear himself to me upon reaching this milestone:

He was not going to live at Stornaway; he was not going to have a car and driver; he was going to sit in the middle of his caucus, away from the front bench.  All of these promises lasted but mere weeks. 

It has been alleged that he changed his hair, fixed his teeth, took voice lessons and dramatically changed his haberdashery.

In short, there appeared to be little the man would not do to try to fit into the establishment.  

So much for the ideals of Reform.

And that, dear reader, leads me back to the formation of the Reform Party of Canada in the late 1980s.

Manning, as its founder, was going to bring Canadian Politics into a new era of openness where the grassroots would rule and their representatives in Parliament would carry out their wishes.  Even I bought into this dream since I was tired of the tweedle dee and tweedle dum approach of Liberals and Conservatives. 

I say dream since it soon became evident that Manning would not listen to his grassroots and he brooked no dissent from within.  He turned out to be just as autocratic, as any other leader.

With all this, I am left not knowing what political philosophy Manning really possesses, but I do know he is has let many of us on the right down by his acting like a traditional politician.   

As I see it…

‘K. D. Galagher’

 

 

Just When You Were Beginning To Think…

 

That Governments were running out of ways to tax the poor downtrodden  (as if..)  …

Along comes the EU which just imposed a Deposit Tax on the hapless folks of Cyprus.

You heard it correctly – a 10 % tax on Cypriots’ Bank holdings.

I have been warning for some time now that the European Contagion was not only far from improving …it was actually getting worse and would soon consume the Americas.

The bottom-line in all of this is that our Governments are all broke.

I do not need to tell you that this is a most novel way for Governments to secure new funding.  Up to this point, they had relied more or less on taxing one’s income but as those taxes have maxed out (e.g. France’s 75% income tax) there is only so much more that can be gained from it.

Obama too will soon see that increased taxes on the top 1% will only go so far in addressing the State’s $17 Trillion Dollar Debt and $1 to $2 Trillion Dollar annual Deficit.  Can you imagine the money to be had by going EU and taxing Depositors’ / Investors’ holdings at the rate of 10%.

For that matter what is hold politicians at the 10 per cent mark – why not go for 25% or higher?

Depositors have already been contributing albeit silently since their holdings have not been keeping up with inflation.  Over that last many years they have received pittance for their money – often less than 1% while inflation – even the low official versions of same – is running north of 3%. 

To put this in perspective, say you were a depositor in Cyprus and had $100k on deposit at the beginning of 2012.  At the end of the year and allowing for 1% interest, you would have a tidy balance of $101k.  However with inflation, that money would only be worth $98k after the effect of the year’s inflation.

Now move ahead to March 2013 and your nest egg is debited by the 10% EU tax – your balance plunges to $90,900.

Only in Cyprus you say?

Don’t be too sure and while you are reflecting on this you will be well to remember that income tax itself started as a temporary measure.

As I see it…

“K. D. Galagher’