The only thing broken is tax collection and adding more taxes is not going to fix it.
Why are all these new tax articles coming out now? This looks like a coordinated effort by a handful of individuals to shove down the throat of Bahamians even more taxes.
BTW income tax would not be be "progressive taxation”, it would be a "tax on the middle class" as the poor would be exempt and the rich would find ways to avoid it.
Can the middle class of this country survive with a 30% deduction of their income?
If Rupert Pinder can live comfortably with 30% reduction of his income, he should show the example and send a cheque to the Treasury on an annual basis along with other persons who support this tax.
There should be no discussion of new taxes until all due taxes have been collected.
Then we can study how VAT which was sold to us "to pay down the debt" had the exact opposite effect, with exploding budget deficits and record new debt, so that we are now near bankruptcy.
Well this would be a good solution to combat air pollution and traffic jams in the Bahamas. I am sure that Andrew Allen would agree, because only the rich would be paying this tax. But before this takes place an efficient public transport must be put in place, which won't be easy.
BTW the Bahamas is unable to collect property tax, which is the simplest form of tax in the world. How would the Bahamas collect the most complex and easy to avoid tax in the word? This is what needs to be answered, before going into any hypothetical debate about any tax reforms.
Why does the Bahamas not start by collecting all the due taxes? Anybody that does not address this matter when talking about new taxes, has no credibility.
BTW the Bahamian economy looks much more like Caymans than Singapore. When the Bahamian economy looks more like Singapore or Hong Kong maybe we can talk about tax reform. But right now the only thing attracting individuals and corporations to this nation is the tax free regime. To start taxing them directly would be economical suicide.
As an attorney please stick to law and do not dabble into economics where you knowledge is obviously minimal.
Proguing says...
You mean like Biden liar:
https://www.youtube.com/watch?v=mCJMF7m…
On Carnival awaiting permits for GB ‘crown jewel’ start
Posted 24 February 2021, 3:58 p.m. Suggest removal
Proguing says...
The only thing broken is tax collection and adding more taxes is not going to fix it.
Why are all these new tax articles coming out now? This looks like a coordinated effort by a handful of individuals to shove down the throat of Bahamians even more taxes.
On ‘Tax system is broken’
Posted 24 February 2021, 3:30 p.m. Suggest removal
Proguing says...
Health warning: if the police asks you to stop, do not try to run over the police...
On Man shot dead by police as car ‘speeds through checkpoint’
Posted 24 February 2021, 1:11 p.m. Suggest removal
Proguing says...
BTW income tax would not be be "progressive taxation”, it would be a "tax on the middle class" as the poor would be exempt and the rich would find ways to avoid it.
Can the middle class of this country survive with a 30% deduction of their income?
If Rupert Pinder can live comfortably with 30% reduction of his income, he should show the example and send a cheque to the Treasury on an annual basis along with other persons who support this tax.
On Economist: ‘Be open’ to discuss income tax
Posted 23 February 2021, 2:32 p.m. Suggest removal
Proguing says...
There should be no discussion of new taxes until all due taxes have been collected.
Then we can study how VAT which was sold to us "to pay down the debt" had the exact opposite effect, with exploding budget deficits and record new debt, so that we are now near bankruptcy.
On Economist: ‘Be open’ to discuss income tax
Posted 23 February 2021, 12:53 p.m. Suggest removal
Proguing says...
Andrew Allen, what are you doing in the Bahamas where everyone is so ignorant unlike you?
On Time to break cycle
Posted 22 February 2021, 12:30 p.m. Suggest removal
Proguing says...
You are mixing up corporate tax and income tax
On Time to break cycle
Posted 22 February 2021, 12:24 p.m. Suggest removal
Proguing says...
Well this would be a good solution to combat air pollution and traffic jams in the Bahamas. I am sure that Andrew Allen would agree, because only the rich would be paying this tax. But before this takes place an efficient public transport must be put in place, which won't be easy.
On Time to break cycle
Posted 22 February 2021, 12:21 p.m. Suggest removal
Proguing says...
BTW the Bahamas is unable to collect property tax, which is the simplest form of tax in the world. How would the Bahamas collect the most complex and easy to avoid tax in the word? This is what needs to be answered, before going into any hypothetical debate about any tax reforms.
Why does the Bahamas not start by collecting all the due taxes? Anybody that does not address this matter when talking about new taxes, has no credibility.
On Time to break cycle
Posted 22 February 2021, 5:55 a.m. Suggest removal
Proguing says...
You can't look at expenditure to GDP in 2020 because of the pandemic.
List of countries by tax revenue to GDP ratio:
Bahamas 17.9
Singapore 14.1
https://en.wikipedia.org/wiki/List_of_c…
BTW the Bahamian economy looks much more like Caymans than Singapore. When the Bahamian economy looks more like Singapore or Hong Kong maybe we can talk about tax reform. But right now the only thing attracting individuals and corporations to this nation is the tax free regime. To start taxing them directly would be economical suicide.
As an attorney please stick to law and do not dabble into economics where you knowledge is obviously minimal.
On Time to break cycle
Posted 22 February 2021, 5:29 a.m. Suggest removal