Mr President, I said, I have to tell you something. I don't want to get too close to you. He looked startled. I imagine it was a rare thing for a U.S. Commander-in-chief to hear. Canada is your best friend, largest trading partner, and closest ally, but we are also an independent country. Keeping some distance will be good for both of us. If we look as though we're the fifty-first state of the United States, there is nothing we can do for you internationally, just as the governor of a state can't do anything for you internationally. But if we look independent enough, we can do things for you that even the CIA cannot do.

I never bought into the Laffer curve, a theory, named after an American supply-side economist who had been an adviser to the Reagan administration, that essentially argues that a government will increase its revenue by reducing its taxes. If it were that easy, everybody would do it. What politician doesn't want to reduce taxes in order to win votes? Taken to its logical extreme, the Laffer curve makes no sense because, if you lower your taxes to zero, how are you going to get higher revenues? In practice, every government that toyed with this theory ended up with larger deficits, higher interest rates and greater social inequality.

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It's one thing for a courier service transport letters and documents from one city to another at a cost that only big business can afford; but it's another thing to take a letter from an Indian boy studying at the University of Ottawa to his mother in Old Crow.

I learned early that business is business and politics is politics. The proof is how few important businessmen have made good politicians. They may think that they are very smart about everything because they made millions of dollars by digging a hole in the ground and finding oil, but the talent and luck needed to become rich are not the same talent and luck needed to succeed on Parliament Hill.