Crawl Across the Ocean

Wednesday, April 27, 2005

CEO overpay cons

It's always interesting to see what searches bring people to this site. So far my favourite was a recent visitor who searched for "CEO overpay cons" - a search for which this site comes up a respectable 8th on google.

In honour of that search I direct your attention to this post by pogge in which he rightly takes Thomas d'Aquino (president of the Canadian Council of Chief Executives) to task for his hysterical, hyperbolic reaction to the deal between Paul Martin and Jack Layton to cancel corporate tax cuts in the federal budget.

Says Thomas,
"By reneging on the corporate tax cuts in the 2005 budget, the deal announced today will sacrifice Canada's ability to foster more high-paying jobs and to ensure that our economy grows fast enough to pay for the massive federal commitments to expanding social programs and equalization payments,"

As pogge notes, given that the federal corporate tax rate has already been reduced from 28% to 21% since 2000, it seems a bit absurd for supposedly serious people to be making statements that not cutting the rate further for a few years is going have some huge negative impact on our economy.

Personally, I think Paul Martin should have stuck to his guns on this one, and on principle I worry about deals which increase spending but don't increase revenue to pay for it (the spending occurs now while the corporate tax cuts didn't take effect for a few years - and Martin is now telling the Conservatives he's going to go ahead with the cuts anyway), but we're not talking about a huge amount of money on the scale of the federal government and it would be nice to discuss it like adults rather than having flacks like d'Aquino making ridiculous statements with no connection to reality.

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  • On reflection, I'm wondering if we shouldn't be thankful to Spouting Thomas*. The more nonsense he spews, the easier it is to demonstrate that he represents the interests of a small and select group, not Canadians as a whole. Now take another look at deep integration.

    *I stole that from Stirling Newberry. It's his nickname for Tom Friedman.

    By Blogger pogge, at 6:46 AM  

  • Yeah maybe, still it irritates me just to see his name in print so I wish he'd go away for a while.

    On reflection, I probably should have given the hyperbole award to Stephen Harper for his assessment that it was a 'deal with the devil' (was he suggesting that NDP supporters are devil woshippers?), but I'm guessing I'll have more chances on that front.

    By Blogger Declan, at 11:45 PM  

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