I think that the penalty for ANY racing of any sort on a public street or road should result in permanent loss of your bike and your M license.
You know, I actually agree with you on that point. But I couldn't see any racing in this case. Let me look up the definition of racing for you:
http://en.wikipedia.org/wiki/Racing
As far as I can tell, a race involves two or more people competing against each other. In a vehicle, speeding, changing lanes, accelerating and braking quickly may be components, but without the competition you have no race. Also burn-outs, wheelies, stoppies are never part of racing. This is merely the government corrupting the meaning of a word so the lemmings will get scared and approve the legislation. Have a guy drive 50km/h over the limit on an empty road enjoying the scenery just doesn't invoke the same mental picture as a mad racer.
And it's a wild guess, but I don't think even 1% of all s.172 charges in Ontario are actually honest racing circumstances. I know I am not too far from the truth, because going by last years' statistics, about 30% end up being dismissed, 30% end up pleaded down and only about 30% end in convictions. The VAST majority of those convicted were just doing 50km/h over the speed limit by themselves.
Why even allow people to own bikes larger than 600cc?
A 600cc supersport will easily do 250km/h all day long, but even my old RZ350 could do 200km/h. I don't know anything about cruisers, but I'm pretty sure a 600cc one (if such a thing even exists) will get into s.172 territory on the highway. So if we go by top speed alone, he'd have to ban any bike larger than 250cc. Not going to happen without killing thousands of jobs in a province that is already hurting economically. Half the people will stop riding, and bike shops will be closing left and right.
Besides, haven't you noticed that while the PR is always about public safety, it really boils down to revenues? McGuinty WANTS you to have a fast car or bike and he WANTS you to speed so he can tag you with a $10000 fine, plus lawyer, impound and license reinstatement fees.