Why not cut government spending?

Yes, definitely. But, the discussion should be on what. Health care, education and social services? Or, travel expenses for politicians wives, overblown pensions for politicians, buying hotels, and propping up failed institutions? We do too many political shenanigans in this country for people to take anything seriously. It is a pissing contest between mostly men, at the expense of looking out for, and working for, the good of The People. Remember them? The People.

I'm sure if you got under the hood, you would be surprised how much waste there is. A good start would be for government to get out of the hotel, airline, banking, phone and cable business.

Wish people would stop calling it "waste" and "mismanagement" and call it what it is: Corruption.

I agree with Carey on the seabed and yachts. However, the high end properties need to be taxed more. We need to begin to shift the tax burden, our regressive tax burden, away from the poorest and working class and more to those who can afford it. Is this unreasonable? Of course not. The richest have seen their wealth grow and grow. Yet, they are opposed to seeing any increases in their taxes to own property in The Bahamas? Doesn't sound right to me, yet this is their ongoing argument. They don't mind seeing their earnings in the stock market grow by leaps and bounds, but god forbid that their taxes should be raised. That is why they spend large sums on accountants and lawyers, isn't it? To keep them from paying taxes. So, while I hear Mr. Carey's complaints, it should be clear that we need to move away from regressive taxation, towards more progressive taxation. Of course that conversation is far far behind the times, if only because our media only interviews the richest and those who work for the richest.
And, of course Foreign Direct Investment, which if analyzed, would be found to be wanting in actual contributions to Bahamian society. But, it sure helps the political class and the real estate brokers.
We need a more fair way of taxation to run this country. The current reliance on Customs Duty and Excise tax, 90% of tax revenue for this country, unquestionably places an unfair burden on those of us who can least afford it.

How about we start collecting taxes due, before increasing tax rates?

Forget about the IMF. We already know who they are. We already know that they have the best interests of the money men at heart, not average people, or Bahamians. That does not mean that they do not have a point. However, it is incumbent upon us to use our own resources to utilize and tax for the benefit of this nation and, IT"S PEOPLE. Yes, the political class is a major part of the problem, but so too are those capable of seeing how unfair our tax system is, yet refuse to condemn it because it would have an impact, even slightly, on their own income potential. We, as a society, have encouraged this winner take all, and the all for me attitude. It is up to us to understand that we are enabling a system that will destroy the fabric of this nation. As usual, those with the money will flee to places more suitable to their liking. We need to charge much more to live in paradise. Presently, the richest have way too many benefits over the average Bahamian. Is it too much to ask for us to level the playing field?

"We need to charge much more to live in paradise."

Porcupine, exactly what Paradise are you referring to? It surely can't be The Bahamas! Persons with significant wealth have a choice as to where they reside. Why would you chose The Bahamas? We are a country that is right in the hurricane hot spot where crime is rampant, the jail is overcrowded, the justice system is overwhelmed, private health care costs an arm and a leg, public health care is sub-standard, supermarket prices are a rip off, electricity is over-priced and unreliable, customer service in the public sector is dreadful, our ease of doing business ranking is one of the worst in the world, the cost of buying and selling real estate is outrageous, political patronage is rife, you need a mortgage to eat out at the best restaurants, downtown Nassau is an eye sore. With all of this, the country should be incentivizing foreigners to bring their wealth here not charging them more.

And all of the undesirable things you speak of have come about because of decades of a most unfair and regressive tax system that has literally starved our nation of the funds it needs to sustain itself. The wealthy with ties to our country have never worried about most of the things you mention because they have the ability to hop on a plane to get whatever they may want or need elsewhere. For them it will always be much more advantageous to live that way than be subject to a fairer and more progressive tax system in The Bahamas. Frankly, I'm all for introducing an exit tax and letting those who don't want a more equitable tax system leave and starve some other dumb country willing to give them a free ride.

I don't think the rich or poor should have to pay and bail out the country due to the actions of corrupt politicians. This was a rich country at one point and still could easily have been, had not so many secret deals been made under the table by our leaders.

Unfortunately it's not just our past and current corrupt politicians and their family members who have managed to get filthy rich from their secret deals. A good number of their corrupt business partners and cronies (both local and foreign) not involved in day-to-day active politics have also been made greatly wealthy through a myriad of secret corrupt dealings.

Realtors need to lower their fees if they want to stimulate the real estate market. 6% is way to high.

No one with an ounce of sense has paid a 6% commission in recent years.