Pintard is another one who can't do basic maths or is lacking in common sense. He could have easily attacked Davis's reduced VAT rate on retail food sales by food stores on the grounds that it would increase our national debt by at least $120 million per annum assuming the average person spends at least $500 per month on food purchases at retail food stores. See the basic maths below.

Typical incompetent Halkitis says reducing the VAT rate on retail food store sales would cost government $30 million per year based on current food prices. But the basic common sense math below proves just how foolishly absurd and incompetent this supposedly educated moron really is.

$30 million divided by 5% VAT reduction = $600 million of total retail food store sales per year attracting a VAT rate, i.e., 30,000,000 / 0.05 = 600,000,000.

$600 million divided by 400,000 people = $1,500 of total annual food store purchases by each Bahamian/resident of The Bahamas on average, i.e., 600,000,000 / 400,000 = 1,500.

So Halkitis would have you believe your annual food store costs and the annual food store costs of all other citizens/residents of The Bahamas is on average about $1,500 which equates to about $125 per month. Most of us spend at least four times that amount each month at the food store which means the total cost to government of this VAT rate reduction will be at least $120 million per annum at current food prices, i.e. 4 times Halkitis's ridiculous $30 million estimate.

Halkitis's lack of common sense is clearly only exceeded by his stupidity. This man should no involvement whatsoever in our country's finances. And the same goes for that other ding bat affectionately known as Always Angry Simon Wilson.

Pintard's failure to point out these facts on the floor of the HOA also does not speak well for his basic maths skills and common sense.

Pintard is another one who can't do basic maths or is lacking in common sense. He could have easily attacked Davis's reduced VAT rate on retail food sales by food stores on the grounds that it would increase our national debt by at least $120 million per annum assuming the average person spends at least $500 per month on food purchases at retail food stores. See the basic maths below.

Typical incompetent Halkitis says reducing the VAT rate on retail food store sales would cost government $30 million per year based on current food prices. But the basic common sense math below proves just how foolishly absurd and incompetent this supposedly educated moron really is.

$30 million divided by 5% VAT reduction = $600 million of total retail food store sales per year attracting a VAT rate, i.e., 30,000,000 / 0.05 = 600,000,000.

$600 million divided by 400,000 people = $1,500 of total annual food store purchases by each Bahamian/resident of The Bahamas on average, i.e., 600,000,000 / 400,000 = 1,500.

So Halkitis would have you believe your annual food store costs and the annual food store costs of all other citizens/residents of The Bahamas is on average about $1,500 which equates to about $125 per month. Most of us spend at least **four times** that amount each month at the food store which means the total cost to government of this VAT rate reduction will be at least $120 million per annum at current food prices, i.e. 4 times Halkitis's ridiculous $30 million estimate.

Halkitis's lack of common sense is clearly only exceeded by his stupidity. This man should no involvement whatsoever in our country's finances. And the same goes for that other ding bat affectionately known as Always Angry Simon Wilson.

Pintard's failure to point out these facts on the floor of the HOA also does not speak well for his basic maths skills and common sense.

You're absolutely right. But see my comment below for a better way of looking at the absurdity of Halkitis's remarks from a purely common sense perspective.

Typical incompetent Halkitis pulling $30 million out of a hat. The basic common sense math below proves just how foolishly absurd and incompetent this supposedly educated moron really is.

$30 million divided by 5% VAT reduction = $600 million of total retail food store sales per year attracting a VAT rate, i.e., 30,000,000 / 0.05 = 600,000,000.

$600 million divided by 400,000 people = $1,500 of total annual retail food store purchases per Bahamian/resident of The Bahamas on average, i.e., 600,000,000 / 400,000 = 1,500.

So Halkitis would have you believe your **annual** food store costs and the annual food store costs of all other citizens/residents of The Bahamas is on average about $1,500 which equates to about $125 per month.

Halkitis's lack of common sense is clearly only exceeded by his stupidity. This man should no involvement whatsoever in our country's finances. And the same goes for that other ding bat affectionately known as Always Angry Simon Wilson.

Yup, but government's increased printing of Bahamian dollars has created a very overly inflated balloon that is increasingly vulnerable to being suddenly popped.......and when this popping happens the artificially inflated value of our local currency will manifest itself through an instant massive devaluation the Bahamian dollar relative to the value of 'hard' currencies like the US dollar, Euro, Canadian dollar, etc.

You forgot to mention the heavily armed latest generation of ChiCom subs that stealthily move about in the great depths of our Tongue of the Ocean with the knowledge and approval of our government.

Power to truth.

Here's what the useless IDB bureaucrats won't tell us:

The Jamaican dollar floats against the US dollar based on its foreign currency reserves whereas the Bahamian dollar is pegged by the Bahamian government (not the US government) to the US dollar at an artificial rate of bsd 1.005 = usd 1.000. In other words, Bahamians are shackled to an exchange control regime that is only as good as our nation's ability to grow its 'external' foreign currency reserves faster than the pace of the annual US inflation rate and our ability to repay the ever growing portion of our national debt denominated in foreign currencies, i.e., our country's foreign currency borrowings.

Right now the US annual inflation rate exceeds the annual growth rate in our foreign currency reserves and our foreign currency borrowings are at a level that cannot be repaid. Our ministry of finance (MOF) and central bank's answer to this dilemma is to simply print more Bahamian dollars, monetize the newly minted Bahamian dollars into Bahamas government treasury bills, and then coerce domestic financial institutions licensed by the MOF into buying the newly created treasury bills. This of course results in enormously stressful distortions in our country's finances that in turn threaten the collapse of our entire financial system.

When the proverbial shiit hits the fan, our Bahamian dollar will become unpegged from the US dollar causing a massive devaluation in the Bahamaian dollar 'overnight.' Already domestic financial institutions are shunning investing in longer term treasury notes and bonds because our government is unable to compensate them with the higher yields warranted by such investments. Also, the so called black market exchange rate cost for buying foreign currencies with Bahamian dollars is now at an all time high which does not portend well for things to come.

Our nation's foreign currency reserves have for decades now been seriously compromised by corrupt ministers of finance and central bank governors who have allowed and continue to allow foreign investors and politically connected Bahamians to avoid the exchange control requirements that the rest of us must abide by.

The Jamaican dollar floats against the US dollar based on its foreign currency reserves whereas the Bahamian dollar is pegged by the Bahamian government (not the US government) to the US dollar at an artificial rate of bsd 1.005 = usd 1.000. In other words, Bahamians are shackled to an exchange control regime that is only as good as our nation's ability to grow its 'external' foreign currency reserves faster than the pace of the annual US inflation rate and our ability to repay the ever growing portion of our national debt denominated in foreign currencies, i.e., our country's foreign currency borrowings.

Right now the US annual inflation rate exceeds the annual growth rate in our foreign currency reserves and our foreign currency borrowings are at a level that cannot be repaid. Our ministry of finance (MOF) and central bank's answer to this dilemma is to simply print more Bahamian dollars, monetize the newly minted Bahamian dollars into Bahamas government treasury bills, and then coerce domestic financial institutions licensed by the MOF into buying the newly created treasury bills. This of course results in enormously stressful distortions in our country's finances that in turn threaten the collapse of our entire financial system.

When the proverbial shiit hits the fan, our Bahamian dollar will become unpegged from the US dollar causing a massive devaluation in the Bahamaian dollar 'overnight.' Already domestic financial institutions are shunning investing in longer term treasury notes and bonds because our government is unable to compensate them with the higher yields warranted by such investments. Also, the so called black market exchange rate cost for buying foreign currencies with Bahamian dollars is now at an all time high which does not portend well for things to come.

Our nation's foreign currency reserves have for decades now been seriously compromised by corrupt ministers of finance and central bank governors who have allowed and continue to allow foreign investors and politically connected Bahamians to avoid the exchange control requirements that the rest of us must abide by.

ZZZZZZzzzzzzz........