RECALL RECALL.... faulty legislation needs repair

[Icebound]

http://www.theglobeandmail.com/news/politics/technical-deficiency-in-budget-will-sharply-raise-taxes-on-credit-unions-deloitte/article13973595/

In order to "fix" something which was not a problem in the first place, Harper has broken it completely. Now he is going to "fix" the fix.

I've dealt with mechanics like that.... and software developers. We used to fire them.

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[Bryan]

These things happen. Flaherty knew about it and was already drafting the fix long before it hit the papers.

The issue is that banks also get a discount off the full tax rate, just less of one than the credit unions got. Instead of specifically saying that the credit union discount is changed to the bank discount, it said that credit unions no longer get their special discount. CRA mistakenly took that to mean they should get no discount at all, which was not the intent.

[Icebound]

The fact is that the banks are doing pretty well and have been doing so "forever". Credit unions do not have nearly the same clout. What was the point of tinkering with the credit union tax rate in the first place? (even the "correct" version)

http://www.newswire.ca/en/story/1134031/increased-income-taxes-disappoint-credit-unions

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