ALL MAKES PERFECT SENSE ,however vat wiil be 200 to 300 more empolyees on the govt payroll that are basically unemployable in the private sector ,thus giving whichever party hires them hundreds if not thousands of votes Also lots of accountants will get big contracts ,think how many big time accountants are involved in politics ..If the governments just put a freeze on public service hiring for ten years we would be OK ..Truth be told we make more unempolyable children and young adults then any GDP growth can absorb ,its the story of our region ,,when single mother of 5 for 3 different daddies is the norm and 1 in 4 people work for the public service the result is predictable .higher taxes ,borrowing ,crime and poverty ,,

While letting the dollar devalue may seem scary. We are paying a price of keeping it on par with the US. It depends on how much the dollar devalues versus the increase of VAT for example. A lower B dollar would make it cheaper for tourists to visit as they get more bang for their buck and also give local producers and manufactures an advantage or level field versus imported products and make it easier to possibly export helping to achieve the much sought after desire to diversify the economy.

You have got to be kidding. If you want a lower dollar - MOVE to Jamaica. You will be happy there.

Sure selling local products abroad will become easier because you are selling for less - silly!!!!!! You can do the same thing now. Just lower your selling price by 30% or whatever. The same result.

You think if you sell $100 worth of good for 100 NBD (New-Bahamian Dollars) [which will be worth 75cents] - that you will get $100 dollars easier?

Yes, you will get B$100 - but when you go to buy something brought from USA (and maybe you haven't read any labels on anything but 99.5% of everything comes from abroad esp the US) - you will ONLY be able to buy $75 worth of those items.

AGAIN, if you want a devalued currency - MOVE to a devalued currency country - don't screw up this country.

And you think the B dollar has not been devaluing over the past 5-10 years especially? It is pegged to the US dollar which is devaluing all the time due to the massive amounts of printing they are doing. The US dollar today is only worth about 27 cents of what it was when its current monetary system was put into place. The only thing that has not been changing is the B dollars relationship to the US dollar. Canadian dollars are on par with the US dollars now. Not because of an increase in their worth but, a devaluation of the US dollar. That is one reason imported things like fuel are getting more expensive on the world stage we are losing our value in comparison. And a 5% devaluation for example is allot better than a 8-15% increase from new taxes. And you missed the entire point about local products becoming cheaper versus imported thus helping to encourage local business. Why do you think China keeps their currency artificially low? So they can produce and especially export stuff.

While letting the dollar devalue may seem scary. We are paying a price for keeping it on par with the US. It depends on how much the dollar devalues versus the increase of VAT for example. A lower B dollar would make it cheaper for tourists to visit as they get more bang for their buck, chill the desire to import so much and also give local producers and manufactures an advantage or level field versus imported products and make it easier to possibly export helping to achieve the much sought after desire to diversify the economy.

Devaluing the Bahamian Dollar would be the beginning of the end for The Bahamas.

Yet do you believe an increase of up to 20% (just the start of this new tax regime) will make sense? Obama has been printing money like water flowing.. What do you think is happening right now? Do you think keeping us on this debt ride is smart? There are choices here.

Yes, there are choices. But the Law in the Bahamas is not Pro-Choice. Abortion is illegal. So women are FORCED to bear children that they cannot afford to feed, and who grow up to search for jobs that don't exist. I won't even get into what they have to do to support their children. Hey, nobody wants to talk about that.

But, heck, go ahead and devalue the dollar. Within 5 years our parliament building will be burned down and our new capitol city will be in Port au Prince.

Actually a devalued dollar will make the Bahamas less attractive to illegal immigrants who want to export their dollars the Haiti. Also less likely they will setup shop here to trade labour for dollars. There are some benefits and most people think the whole idea is not up for discussion. You really don't understand how the monetary system works. Lets say our central bank with the government did what the USA is doing right now but, we are paying for their devaluation without any benefit decided to debase our currency by 5% over the next 3-5 years by printing more money. #1 The government could pay their bills. #2 When currency is created in this way it is given to banks and enters the money supply via loans. So #3 credit gets cheaper stimulating the economy. #4 Imported items get more expensive driving consumption of Bahamian made items. #5 less drain on our reserves. #6 more people get employed. I personally hate the worlds monetary system it is a system of debt that cant ever be repaid but, I believe this not VAT will get us out of the mess we are in quicker and for a longer term.

Garth Buckner's alternatives to VAT will find favour with most educated and business savvy Bahamians. Unfortunately, the PLP is not interested in this sector of society. There are of course more votes to be had from peddling false hope to the poorly educated, downtrodden masses who would sell their future for a free tee shirt. This government is letting ALL Bahamians down by wasting precious tax revenue on creating jobs in the Public Sector that don't exist, lavish spending by politicians, holding pointless referendums, allowing huge overdrafts to friends of the party and failing to collect real property taxes from some of the wealthiest people in The Bahamas. So government's answer? Yep, just force the public to bail them out with 15% VAT levy and keep on with the same old, same old until they are voted out. This conversation on tax reform should have commenced a year ago when all options should have been put on the table and thoroughly debated. It is still not too late to arrive at an alternative solution to VAT but the PM needs to listen carefully to those who are experienced in business and economics. Egos need to be set aside in this matter. The consequences of getting it wrong could be very grave indeed.

The government will never listen to or do any of Mr. Buckners points as they would not be able to "buy" their votes any longer. How would the political class of the country survive? Get it strait people the political class of this country, yellow, red, or any other colour, is in it for themselves, not the country.

I would vote for Mr. Buckner for Pm before ANY of the jokers out there now.

Actually a devalued dollar will make the Bahamas less attractive to illegal immigrants who want to export their dollars the Haiti. Also less likely they will setup shop here to trade labour for dollars. There are some benefits and most people think the whole idea is not up for discussion. You really don't understand how the monetary system works. Lets say our central bank with the government did what the USA is doing right now but, we are paying for their devaluation without any benefit decided to debase our currency by 5% over the next 3-5 years by printing more money. #1 The government could pay their bills. #2 When currency is created in this way it is given to banks and enters the money supply via loans. So #3 credit gets cheaper stimulating the economy. #4 Imported items get more expensive driving consumption of Bahamian made items. #5 less drain on our reserves. #6 more people get employed. I personally hate the worlds monetary system it is a system of debt that cant ever be repaid but, I believe this not VAT will get us out of the mess we are in quicker and for a longer term and the rich get hit with the same % as the poor there is no escaping currency devaluation actually even worse they might have money sitting in the bank. With VAT you also get decreased spending power but both local and foreign and it will hit you all at once and a drag on the economy and you can bet you bottom dollar the wealthy will find a way around this.

Better to start doing this now very very slowly and in controlled fashion balanced with taxes and economic growth because it will happen one day with or without VAT. Look at Barbados even with VAT they wouldn't stop spending and have borrowed so much foreign money no one will lend them any anymore they are laying off so many people and facing a currency devaluation. The market will correct itself and the longer you push it off and the bigger bubble you make the more painful it will be. VAT will make the bubble only bigger unless there is a major shift in the Bahamas economy like finding oil for example.