Little guy screwed again.

I have just learned that hidden in the Federal 2013 omnibus budget was a clause that increased the tax that Community Credit Unions pay to the same levels as the big Banks. At first glance this may seem like a fair thing to do but those of us who have long given up on the banks poor service and high fees in flavor of far more personal attention at local Credit Unions know better. There is no comparison.

“Just like banks, credit unions are required to hold large amounts of capital, but unlike banks, credit unions rely primarily on retained earnings to meet these requirements. By increasing taxes on credit unions alone, the 2013 federal budget has made it harder for credit unions to grow and support local families, farms and businesses. Credit unions are proposing a new tax credit to re-establish a competitive balance between credit unions and the big banks. Based on growth in retained earnings, it is estimated that this tax credit will generate nearly $700 million in new lending to help businesses, farmers and families invest.”

Nor I might add do they have overseas operations primarily created to take advantage of a tax loophole that lets them avoid paying taxes on millions of dollars of 'profit', nor do credit unions pay their 'shareholders' and directors millions in compensation. As 'members' we do get a very modest profit share as part of our membership of the Credit Union and no doubt senior staff are compensated for their expertise but nowhere near the level that the banking bigwigs get.


Credit unions are the only financial institutions in over 380 Canadian communities and offer essential financial services that help to strengthen those communities and support local jobs. Meanwhile the big banks are closing branches which 'are not profitable'. A CFIB study of small business lending showed credit unions having an almost 20% share of small business lending across all financial institutions.


In short this is another case of lets tax the little guy and ignore the big guy whose tax accountants do everything in their power to hide income and avoid paying their fair share of taxes.


Support you Local Credit Union

Chatsworth Township Municipal Election

The following people will be standing for Council in Chatsworth Township to be held on Monday October 27, 2014.  The Township of Chatsworth 2014 Election is a Vote by Mail Election,


Mayor (one to be elected)
PRINGLE, Bob (incumbent) 216732 Conc 4, Chatsworth On, N0H 1G0 519-794-2579
SMITH, Ron 796420 East Back Line, Berkeley On, N0H 1C0 519-270-5260


Deputy Mayor (one to be elected)
MACKEY, Scott (councillor) 777697 Hwy 10, RR 1, Chatsworth On, N0H 1G0 519-794-3356
MCKAY, Terry (incumbent) 134 Crawford St, Box 116, Chatsworth On, N0H 1G0 519-794-2837


Councillor (three to be elected)
DOWNEY, Jerry 824027 Massie Rd, RR 5, Chatsworth On, N0H 1G0 519-794-3121
ERIKSEN, Joshua E 116819 Grey Road 3, RR 2, Desboro On, N0H 1K0 519-371-2502
GAMBLE, Brian (incumbent) 236053 Conc 2B, RR 2, Chatsworth On, N0H 1G0 519-794-2952
GREIG, Shawn 158 Boundary Rd, RR 3, Chatsworth On, N0H 1G0 519-794-4053
PANKRATZ, Helmut 736031 West Back Line, Markdale On, N0C 1H0 519-986-1468
SIMMONDS, Trina 396666 Conc 2, Chatsworth On, N0H 1G0 519-794-4813
SMITH, William 703140 Walker SR, RR 1, Chatsworth On, N0H 1G0 519-794-4307
THOMPSON, Elizabeth 776761 Hwy 10, Holland Centre On, N0H 1R0 519-794-2308


Councillor Cornelius Vlielander will not be standing for reelection.


You should receive your voting form in the mail shortly. You may contact the  Municipal Office @ 519-794-3232 or visit the Municipal Office at 316837 Highway 6 to confirm that you are on the Voter's List.
See the Township Website for further information.

UPDATE

The Township of Chatsworth is holding an All Candidates Meeting on Thur Oct 22 from & till 9.30 pm at the Williamsford Community Center.

As usual this information is hidden in a PDF file on the township website, I have yet to hear any mention of it on local radio........ best kept secret?



As a service to township residents I offer this space to those standing for election to publish a short resume and statement should they wish. See the contact link in the sidebar.

Kinder Morgan Not Responsible

“Once the oil leaves the dock, Kinder Morgan holds no obligation or responsibility, even 10 metres out – that’s the carrier’s liability.”


The Exxon Valdez ran aground on Bligh Reef in 1989 dumping hundreds of thousands of barrels of oil into Prince William Sound.


In 1994 a jury’s verdict announced Exxon would have to pay a massive $5.3 billion dollar fine.


Exxon appealed this settlement 4 times in the next 3 years and eventually paid out just $500 million.


If a U.S. Court has difficulty prosecuting a U.S. company, how would a Canadian court fair prosecuting a Chinese (shipping) company?

More at DesmogCanada

Federal scientists estimate that between 16,000 and 21,000 gallons of oil remains on beaches in Prince William Sound and up to 450 miles away. Some of the oil does not appear to have biodegraded at all.


What more needs to be said?