The new VAT proposal will kill the economy of the Bahamas and there is no need for it. It is simply the lazy and irresponsible route the Government is choosing to make. 100’s of millions of dollars have been stolen and after a full year the FNM has not prosecuted a single person. If they wanted to raise revenue this would be the first place to start. Other ways to avoid VAT. 1. A national lottery. 2. Legalization of marijuana. $160 million worth was just descovered in Abaco. A 30% tax would create $48 million in revenue. Never mind all the jobs it would create. Colorado solved its debt problem just with this one move. We must find other ways to create employment. 3. Collect the 100’s of millions of outstanding taxes. Especially property taxes. 4. Sell Bahamas Air. This cost the country $20 million a year. 5.Get out of the Broadcasting Business. Another 10 million a year or more of waste. 6. Sell BPL, This is the single largest albatross around the taxpayers neck. 7. Get serious about immigration. The Bahamas simply cannot afford to look after all these people. Not a single administration wants to touch this one. 8. Cut the public sector in half. It will not be popular but it is way more effective than taxing the country to death. This is only a fraction of the things that can be done to improve the debt situation. Unfortunately this requires real work. It requires not being popular. By introducing more VAT the waste and corruption never get addressed. 4 years were at the same place except the country is in ruins. The PLP takes over in a landslide and introduces 17% VAT because the country is still broke because the structural problems are never addressed.
Freebird says...
The new VAT proposal will kill the economy of the Bahamas and there is no need for it. It is simply the lazy and irresponsible route the Government is choosing to make. 100’s of millions of dollars have been stolen and after a full year the FNM has not prosecuted a single person.
If they wanted to raise revenue this would be the first place to start. Other ways to avoid VAT.
1. A national lottery. 2. Legalization of marijuana. $160 million worth was just descovered in Abaco. A 30% tax would create $48 million in revenue. Never mind all the jobs it would create.
Colorado solved its debt problem just with this one move. We must find other ways to create employment. 3. Collect the 100’s of millions of outstanding taxes. Especially property taxes. 4. Sell Bahamas Air. This cost the country $20 million a year. 5.Get out of the Broadcasting Business. Another 10 million a year or more of waste. 6. Sell BPL, This is the single largest albatross around the taxpayers neck. 7. Get serious about immigration. The Bahamas simply cannot afford to look after all these people. Not a single administration wants to touch this one. 8. Cut the public sector in half. It will not be popular but it is way more effective than taxing the country to death.
This is only a fraction of the things that can be done to improve the debt situation.
Unfortunately this requires real work. It requires not being popular. By introducing more VAT the waste and corruption never get addressed. 4 years were at the same place except the country is in ruins. The PLP takes over in a landslide and introduces 17% VAT because the country is still broke because the structural problems are never addressed.
On INSIGHT: Everything to lose and so little to gain
Posted 18 June 2018, 9:47 p.m. Suggest removal