We haven't had a chance, obviously, to review these numbers because we got them, like everybody else, just a short time ago, but clearly there are some huge inconsistencies in what we're seeing here. One of the points that was made earlier was that part of the error in Finance's way of evaluating this arose from using average tax rates for corporations or statutory tax rates for corporations based on EBITDA numbers. And, I'm sorry, but that's not necessarily a reflection of reality. Corporations in this country, contrary to Minister Flaherty's comment, do not pay billions of dollars in income taxes. They have deductions that allow them to reduce their effective cash tax rates, in many cases, to under 10%. And that's what the number should be benchmarked at in terms of the data.
The other good point that's been raised is that there are only two entities in this country, that I'm aware of, that are tax exempt: municipal crown corporations and charitable organizations. Everything else is either taxable or tax deferred, and it's important that tax deferred not be treated as tax exempt. That's another major error in analysis.