Finance Minister Bill Morneau has come under
fire over proposed tax changes to small businesses.
One of the people holding his feet to the
fire is Conservative finance critic,
Pierre Polievre, and he joins me now, good evening
sir!
- Good to be with you.
- Now, Mr. Morneau's proposed tax changes
have farmers, doctors and small business owners worried;
he says he's closing tax loopholes, what's
wrong with that?
- Well, you know it's funny you should ask
because when Justin Trudeau and Bill Morneau
announced in the middle of the Summer that
they were gonna be taxing the rich, I thought Jeez!
These guys are so selfless, both of them have
inherited multi-million dollar family fortunes,
and I was thinking poor Justin's gonna have
to give up that Mercedes that was handed down to him,
and Bill Morneau has a billion dollar
family business.
These guys are gonna really take it hard...
But then I found out that they were just kidding!
Rich guys like them won't pay any more -
what they meant by rich people were plumbers,
*laughter* electricians, farmers and other
hard working people who already pay too much tax.
Now, Mr. Morneau recently went on a listening
tour to hear from Canadians affected by the changes,
and it quickly turned into more of a shouting tour.
We have a clip of that, I was gonna play that:
- M''am, M'am, please let him speak.
- Sir, sir, you had an opportunity to speak
before.
- Guys, guys---
guys!
*laughter*
- Now, Morneau says the backlash isn't his fault.
He says there's a lot of misinformation out
there -
are critics like you, trying to confuse and
scare small business owners?
- No, in fact all that people have to do to
become frightened is actually read the proposal!
*laughter*
- Now I have a clip here of you explaining
the tax stages to a small business owner,
have a look:
- Now you're already taxed on these say the
interest you earn on these savings,
- Yes.
- At a rate of about fifty percent.
So let's bring that over to the government,
because that's what they get already,
and they wanna take about half of what's left.
So let's cut that portion in half.
- Do I have to?
- Unfortunately, you might have to...
That brings new meaning to the term "Pie Chart"
*laughter* So,
- That's right.
I have a pizza here right now, so what
you're saying is fifty percent of this pizza goes to the government.
Well let's say my mouth is the government
*mouth full* Okay?
Well I don't know that much about pizza, but
I do know the economics are delicious!
But Morneau says that the change will only
affect the upper crust,
I don't even eat the crust!
*Laughter*
- Let me ask you the question I would ask any pizza guy when it comes to tax reform:
Can you deliver?
*Laughter*
- Absolutely,
absolutely!
Meat-lovers!
*applause*
- Now sir, I say chewing, sir -
you said these changes would mean the end,
of inter-generational family farms.
Now are you gonna explain that to the farmers
by singing:
♪ ♫ ♬ Ole McDonald sold his farm, Ei-Ei-Oh!
by section 84.1 of the income tax act taxed
a dividend-rate of forty-five percent when
he tried to sell it to his kids which is much
higher than the capitalist-gains tax rate♪
♫ ♬ (run-on)
♪ So he's on E.I. now♫
E.I., E.I., now♬
*Laughter* *applause*
Now that was really good, I wish I had thought of
that one!
- Okay,
Pierre Polievre everybody, goodnight sir!
- Goodnight to you!
