Sheeprunner12 there is nothing easy about 12% VAT. Trust me. The ripple effect will be a disasterous increase of living expenses for average Bahamians. This will lead to a black market for food and other necessities; food and pampers will be smuggled in on barges in the dead of night, instead of drugs. I can already imagine Bahamians storming onto illegal barges to buy food at black market prices; this will undoubtedly occur in a nation with its roots in smuggling.

In truth, I believe a "sin tax" would have been much better. A 50% tax should have been placed on alcohol and cigarettes etc. Of course, they left alcohol alone, because that's where their supporters make their money.

A main concern is social unrest. At some point, there will likely be a revolt in which the poor loot and pillage stores in order to survive from starvation, and they may also loot and pillage the homes of the rich. This should also be considered.

Agreed. The Bahamian dollar will be only worth 88¢ now.

At the end of the day, business owners' personal expenses will increase: school fees, maintenance fees in gated communities, phone and cable fees etc. So they will need to increase their prices to maintain their profit margin. Also, consumers will purchase less stuff from their business, so they will need to increase their margin on every purchase.

The Government should have held a series of consultations with the private sector over many months before raising VAT. That's just so obvious, makes me think they are running the country by the seat of their pants, while cooking stew fish.

What these idiots don't realize is that business owners won't just raise the price by 4.5%. in order to stay profitable, while paying 12% VAT on electricity, commercial lease etc. they will have to raise their prices by 10%. So, the final increase at say SuperValue will be around 22%. These guys don't have a clue about business, if they think prices will only go up 4.5%. SMH

Before I thought the FNM was going about things in a very simple way after one year in office. Now I know that they are just simple minded. Time for them to leave.

I too am calling for the resignation of Peter Turnquest immediately!

These charlatans are pretending that they raised VAT to get our fiscal house in order. They act like they are fiscally responsible. Ha ha ha. In actuality, they raised VAT because they are junk bond status and no one in the international community with half a brain will lend them a red cent. At least be honest you $#@&#_&# morons!!!