Sunday, November 27, 2005

Peoples savings dwindle -thanks to bad governance

It is time that there is an accounting -there are a lot of people that are tired of having there Income trust dwindle in value through the actions of this Liberal federal government- ruling on income trust an unacceptable and indecent proposal PR

There's no doubt about it -- retirees are steaming mad over attack on income trusts by Finance Minister Ralph Goodale and they are trying to make their voices heard in Ottawa. Unfortunately, so far the government hasn't even acknowledged their legitimate concerns.

I have today sent the following message to Mr. Martin and Mr. Goodale: You're playing Russian roulette with the life savings of thousands of Canadian retirees and seniors with your "indecision" on income trusts. We sit and watch the valuations of our trust portfolios dwindle every day because of the climate of fear you've created in the trust sector. Waiting until your February budget is cruel and unusual punishment for Canadians on fixed incomes trying to make ends meet and heat their homes this winter. The least you can do is make a statement that you will "grandfather" existing income trusts. We invested in good Canadian companies under the rules you created. We don't deserve this." – R.C.

"The problem with we peon Canadians responding to the Minister of Finance's disastrous musings on income trusts is that the federal government and its employees are too far removed from the life of ordinary risk-taking Canadians. With marvelous salaries, secure jobs, and pensions, the Ottawa Finance Department cannot possibly relate to our struggle for investment and retirement survival. So the idea that there could be any meaningful acceptance of our views must be purely fanciful. The so-called 'opportunity to be heard' plays us for the fools we Canadians are. What a lamentable and shameful situation!" – R.S.

"I depend on personal investments and the various income streams generated by them to provide retirement income. Much has been written about how this issue is being handled. There is no doubt that the Liberals have no clue what it is they are doing but they are going to do something to at least satisfy the egos of the upper echelon of government officials. (They now will end up with egg on their collective faces, and you can bet they will disburse the blame as far as possible).

"Instead of trying to convince the Liberals to change their minds on this issue by criticism of their policies and procedures, more has to be done to let them know directly that they work for the voters. There is very little written on the subject of the power of the voter. A huge sector of the population (Baby Boomers) is either in the stage of early retirement or saving and investing for retirement. These voters have a phenomenal ability to impact governments in terms of what they demand. The message needs to be put out to the Liberals that their future is in their own hands. The Liberals will brush off any criticism on this matter as they have in the past (Dingwall, Sponsorship, etc), but they do understand one thing Angry Voters". – E.S.

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