Sure they're morons. But one good thing the Canadian Government has done to stimulate the economy is create Tax Free Savings accounts. I wish the contribution levels were higher. But it has been enlightening to invest with no concerns whatsoever about tax considerations. It has totally changed my investment style, at least in one account.

I've always complained about the fact that I pay an enormous part of my salary to the government, and then no matter what I do with the remaining money, I still pay another enormous part of any profits after that to dividend or capital gains taxes.

For the first time, I truly understand why offshore jurisdictions attract so much capital.

Maybe western governments should look at reducing capital gains taxes on classes of investments, and dividend taxes. By all means tax primary incomes. But if someone can live below their income and invest what's left, don't penalize and discourage them from reinvesting in the economy.

I wonder if the amount of money that has been driven offshore would stimulated our economies and improved the economic base for taxation better than the revenues govwernments have received by levying the taxes. I bet it would!