Cayman islands, no VAT, no income tax and almost no debt:
"Moody's expect Cayman's government debt will reach 9% of GDP in 2022"
In other words the problem in the Bahamas is with government spending and tax collection, adding more taxes as we have seen with VAT will just make the matter worse
I remember the good old days when there was no VAT and the national debt was below 50% to GDP. But then our politicians declared that we needed to pay back our debt and introduced VAT. Oh the irony!
Proguing says...
How does that prevent us from using them as a model?
On ‘Don’t let IMF drag us into income taxation’
Posted 12 December 2021, 8:39 p.m. Suggest removal
Proguing says...
Yep this shows the consequences of independence...
On National debt just under economy’s size at 98.4%
Posted 12 December 2021, 8:37 p.m. Suggest removal
Proguing says...
Cayman islands, no VAT, no income tax and almost no debt:
"Moody's expect Cayman's government debt will reach 9% of GDP in 2022"
In other words the problem in the Bahamas is with government spending and tax collection, adding more taxes as we have seen with VAT will just make the matter worse
On ‘Don’t let IMF drag us into income taxation’
Posted 12 December 2021, 12:10 p.m. Suggest removal
Proguing says...
Not true, there are many nations with low government debt, Russia, Chile and Switzerland for example
And of course the model country that we should follow:
"Moody's expect Cayman's government debt will reach 9% of GDP in 2022"
https://finance.yahoo.com/news/cayman-i…
On National debt just under economy’s size at 98.4%
Posted 12 December 2021, 11:06 a.m. Suggest removal
Proguing says...
Sir, you are correct, Caymans is the model for the Bahamas to follow, not some countries that are far worst than us...
On ‘Writing’s on the wall’ on income tax reform
Posted 12 December 2021, 11 a.m. Suggest removal
Proguing says...
I remember the good old days when there was no VAT and the national debt was below 50% to GDP. But then our politicians declared that we needed to pay back our debt and introduced VAT. Oh the irony!
On National debt just under economy’s size at 98.4%
Posted 11 December 2021, 9:53 a.m. Suggest removal
Proguing says...
Well it did not take them long to demonstrate that they are no better than Minnis to lead the country...
On UPDATED: Health officials block carnival
Posted 10 December 2021, 3:09 p.m. Suggest removal
Proguing says...
The worst thing the Bahamas can do is to listen to the IMF
On IMF to Bahamas: ‘Pre-empt’ on corporate income taxes
Posted 9 December 2021, 10:07 a.m. Suggest removal
Proguing says...
We need to look at Caribbean nations that do better than us, not worse than us. Cayman is the model we should follow: VAT rate = zero!!!
We just need to look at our own record on VAT. What benefit has VAT brought to Bahamians?
VAT coincides with the surge in government debt. Before VAT government debt to GDP was around 50%, now it is over 100%.
On IMF: 12% VAT rate ‘lowest in Caribbean’
Posted 8 December 2021, 2:15 p.m. Suggest removal
Proguing says...
In other words we give too many concessions to these floating ecological nightmares:
https://earthfirst.org.uk/environmental…
On Nassau ‘leads Americas’ on cruise ship port visits
Posted 8 December 2021, 10:55 a.m. Suggest removal