Passive investment portfolios in private corporations provide capital for future growth of real businesses in Canada. It is these private businesses which generate the most job growth in this country.  Taxing these companies in a manner different than public companies adds insult to injury. Private companies do not have the same access to the capital markets as public companies and need to be able to build capital internally for their growth, and to be able to wether down turns in the business cycle.  Saying that private companies have only one option for current earnings, which is to pay out dividends to owners, the penalty for not doing so being to pay a significant penalty, is to say that Minister Morneau truly does not understand the risks that private business face every day.