“Saint Francis of Bay Street”
the old man in the hat
So you thought you were all grown up. Thought you could dress yourself with matching colours and go off to school. Thought that 12 years of community school, 4 years of university, 4 years of grad school and a couple of years of post doctoral studies were enough to give you a seat at the table. Well think again. You don’t know jack, Frank.
Yes, Frank is back. Mckenna. Again. He is almost like Father Winter, he just does not know when to go away.
What words of wisdom does father Frank offer this week? Only that the striking UNB and Mount A professors were a bunch of greedy kids and that the cookie jar was not only empty, but that they should not have even been asking in the first place. Shame on you.
Saint Frank speaks. Or, more appropriately, Bay Street Frankie speaks.
I always enjoy lectures from that sector of society that ranks 4 levels below that of used car dealers (sorry), a BAY STREET BANKER.
Yes, Ole Frankie has sold out. Well not really. I never believed that Frank M. was a big or small “L” liberal. I had the unfortunate opportunity to see the machine that crushed the PC’s up close and personal. It was not pretty. The GOVERNMENT OF FRANK, in my opinion, was the most politically conservative, pro- big business, anti-poor, administration that we have had in recent memory.
As to a lecture regarding pecuniary responsibilities, I find it rather amusing coming from a man who receives (I assume) a provincial pension that is the envy of the average working man, anywhere, in the Western Hemisphere. A life pension in which the payout is completely disproportionate to employee contributions and years of service.
To top this off, St. Frank also has, trying his hardest to maintain that “common man” aura, his part-time jobs as Deputy Chair of the Toronto Dominion Bank, Committee Chair at Brookfield Asset Management and Director on the board of Canadian Natural. I’m sure that these “jobs” just provide his walkin’ around money.
To be clear, since we are talking about money, just where did all “our” money disappear to, besides the selfish professors.
One could argue that it was Frank’s doing. The constant policy pressure a-la “ Regan/Bush neo con” initiated by his regime lead to the decisions ultimately taken by his successor, the government of Shawn Graham (note- no “saint” here!), to radically alter the tax rates paid by New Brunswick individuals and corporations.
Tony Myatt, a UNB economics professor and former NDP candidate offers, in a paper entitled
New Brunswick’s Deficit and Debt Problem: Root Cause and Solution, that rolling back various tax cuts by both provincial and federal governments to 2005 levels, would restore 580 million dollars to provincial coffers. Mr. Myatt also makes a compelling argument that holistically, these tax cuts have done little to improve the attractiveness of the province to business.
For the conspiracy theorists amongst us, one cannot help to appreciate that extra, after tax, take home money to members number 235 and number 245 on the Forbes Billionaires list.
Just saying.
