Suffice it to say that certainly in the last 10 years we've seen I don't know how many Auditors General reports on this issue saying it's a problem. I believe it has been a problem for 50 years, in some form. It's increasing exponentially, and I can't believe the relative calm with which it's met. With the degree to which the increase in offshore investment is occurring and we're apologizing for going after the subject, I find that kind of incredible.
Here we have an argument being made in this country that we shouldn't even talk about this issue because it will reduce Canada's competitiveness. You know, there are a lot of farmers, teachers, and auto workers in this country who don't have these types of mechanisms available to them. They could be a hell of a lot more competitive if they didn't have to pay their taxes either.
What concerns me about your presentation is this: what's missing from this chart is the repatriation issue, that not only is the situation as you've described it, and as I've repeated it, that you get to deduct and reduce tax initially and you can do it again in another jurisdiction, but you can cleanse it or launder it through a third jurisdiction—Bermuda, Cypress, or wherever—pretend that you paid tax on it when you didn't, and bring it back to Canada again tax-free.
Is that true?