Monday, May 25, 2009

Bailing out GM Pensions

The Globe and Mail headline says it all: "Taxpayers fork out billions for GM pension aid". The federal government says that Ontario tax dollars will go to the pension plan, but federal ones will not.

That distinction is “hair splitting,” said Kevin Gaudet, federal director for the Canadian Taxpayers Federation, a conservative lobby group.

“No level of government, no taxpayer should be bailing out the pension plan, or anything of the company. It's ridiculous,” he said. “And their hairsplitting won't matter a whit to those taxpayers who have no pension plan.”

Mr. Gaudet was particularly critical of Mr. Harper, who started his political career as a Reform Party MP and served as the head of the right-wing National Citizens Coalition in Calgary before becoming Conservative Party leader.

“Mr. Harper may left his balls out West when it comes to taking a principle stand against bailing out this industry like he used believe in,” he said.


deshy said...

Much rather pay for hard working GM pensioners than put up with this stuff any day...

Stephanie Gilliam said...

Giant ponzi see my blog at for details
Stephanie Gilliam

Nancy said...

I think it is absolutely ludicrous that the taxpayers are bailing out the N.Am. auto industry yet again, and especially at the expense of increasing our deficit by 24% and taking it out of the pockets of a public that largely has absolutely no decent retirement plan!! it's obvious that the governments will have to pay for this by increasing our taxes later. Why are taxpayers supplementing companies that have proven that they are are incapable of keeping themselves in business without asking for handouts, which, by the way, will never be paid back. Is it just to garner votes??? Maybe it's time that the employees of these companies retrain themselves for jobs in an industry that's growing instead of clinging to a dying proposition and dealing with the stress of not knowing how much longer they will have jobs, despite the handouts. How does Canada ever think it will tranform itself into a knowledge economy finstead of being so dependent on natural resources and the auto industry if those that rule the country don't have the guts to make the difficult decisions?? Canadians are generally a complacent bunch, but I think it's just a matter of time before there's a taxpayers' revolt. Those in minimum wage jobs and those of us with minimal or no retirement benefits should not be paying to benefit a few who have retirement plans that are way too rich!!

CTF You Tube Channel

Canadian Taxpayers Federation's Fan Box