Comment history

The_Oracle says...

The IDB doesn't know the half of it,
basing their opinions and thoughts on what our Government and the financial and legal sectors feed them.
Follow a few business people around daily for a month or two,
you'll be on Xanax in no time!

On Business environment 'deters investment'

Posted 12 December 2013, 3:17 p.m. Suggest removal

The_Oracle says...

A bucket is a bucket, and the only bucket from which water can be had is the private sector bucket.
The Government bucket, while leaky and unsound, is filled by the private sector bucket.
What the Government is proposing is that while Some fill the private sector bucket and some earn water from it, the government has enjoyed a % of the water from it to fill their own.
they will now take more. They also refuse to fix their own bucket.
The needs of Government outweigh the rights of those who earn their water from the bucket and who fill the bucket.
This Taxation regime change is more than just "taking" more from those who earn,
it is a flawed philosophical viewpoint coupled with the Power to just take.
This is occurring the world over.
Government will end up with less, as will the private sector, as will each family and individual.
Promising more handouts and assistance to those hardest hit is a short lived capability at best, taking away from the supposed purpose of this increased revenue:
Debt Service.
at worst, your economic Bucket fails.
all else fails after that.
That $200 million, is coming out of everyone's pocket.
Money does not come out of thin air, just as work does not get done if no one does it.

The_Oracle says...

And this illustrates exactly why nothing can ever get rectified in this country:
The Government agreed to these "bonuses" in the first place,
just like they allowed Salary assignments in excess of 75% of salary,
Just like they agreed to make 100% of NIB contributions for employees,
One can go on and on with all that has been done wrong,
with very little done right.
Clawing back good governance on behalf of the Bahamian people is an imperative,
throwing out new taxes and pillaging the people who work and produce is punishing
the wrong people,
and rewarding those who expect entitlements.

The_Oracle says...

Bran, you must know that both Government administrations have been walking this road under IDB and IMF supervision since 2003.
Income Tax was on the table also, then off, and possibly back on again.
VAT record keeping requirements will certainly give the IMF and Govt enough data for the implementation of an income tax.
I would be more worried if you didn't know this was coming during your tenure in Cabinet!
The PLP has simply been caught out holding the bag this go around.
3 administrations have been working on this, and none leveled with the Bahamian public.
Treated like a state secret, the people have been sabotaged and betrayed by those who they elected.
The backlash is both deserved but also holds much potential for creating workable solutions if the Government will be open and honest.
BTW, increasing minimum wage will have the same effect as VAT:
Inflation, you aught to know that.
You stepped out of the existing Political hierarchy, step away from irrational promises also.
That is what has us in this mess.


The_Oracle says...

The CRA, as you put it, was provided for in either the 2010 or 2011 Budget Communication, along side tying all government department receivables together to force compliance.
N.I.B. not current? No building permits for you.
Property tax owing? No business license issued/renewed.
No VAT compliance? Surrender your passport!

The Problem with Government on this issue is they refuse to consult with those who will be required to implement, enforce and collect on the Governments behalf.
Who better than the Bahamian business community to assist in foreseeing sensible fraud control needs?
Unlike Government which can ignore the scams, waste and theft,
the private sector has to fix its own wounds or perish!
It will be a disaster, because that is what Government presides over day in, day out.

Most worrisome is the potential for paralysis at the border in July/August.
The Bahamas is a cash based economy, which has only recently embraced ATM/Online Banking facilities.
While some do pay bills online, most ATMs are payroll machines, with people pulling their entire paycheck, and throwing the receipt on the ground.
We do not keep records, hell we can't keep time!

On YOUNG MAN'S VIEW: VAT roll-out will be a mess

Posted 12 December 2013, 8:20 a.m. Suggest removal

The_Oracle says...

Heil ! your papers please..........
The most sensible Plan from the top can become the most horrible practice at the street level,
as officer discretion plays a major role in how these things are conducted,
but if there is no capacity for discretion, officer by officer?
A Police State ensues.
Another reason to stay locked up in your homes with Bars on the windows and doors.
The Haitians already have a name for it,
they call it the "Ton Ton Macoute"

On Motorists stopped by Immigration road blocks

Posted 12 December 2013, 7:40 a.m. Suggest removal

The_Oracle says...

Cameras are good for reviewing an incident, unless someone is watching them 24/7,
and can get very fast police response.
A better idea is to build a prison for 20-30k perps,
Minimum to Maximum, and invest in decent training for the Prison staff/officers.
Let the courts know,
Policy is lock 'em up, a moratorium on bail for obvious criminal behavior.!
As it stands, the criminal element is only slightly inconvenienced by due process.
make it a major pain, and they'll feel it.
The prison facilities should include work programs so that every single inmate pays their own way, not just a few gangs.
Also court facilities should be located on property!
Get rid of the flying buses and traffic risks.
get the politics out of the process of prosecution, enact strong laws for tampering by Criminal and politician alike!
It'll take at least a decade to reverse 40 years of sloth and mismanagement, but it better be done!

The_Oracle says...

So, we have a Government sponsored war on the Private sector, (VAT, increased taxation)
A government sponsored war on Intelligence (almost won where Govt is concerned)
and Bran proposes another War on Crime?
Careful, it is a road to the Police state, curfews, and loss of Constitutional rights.
These are lost first most often, and may be the real war behind all the battles.

On BRAN: Declare war on crime

Posted 11 December 2013, 10:11 a.m. Suggest removal

The_Oracle says...

Firstly, the Kiwis, know nothing about our Bahamian ways, Slack record keeping, lack of lien laws, check bouncing regularity and our thousand other tricks of the trades!
they also have decent audit trails on income, general ledgers, private sector money trails via income tax and GST, and more first world approaches and standards.
We still work out of over the counter receipt books and a check book full of rubber paper!
Aliases, promises and delaying tactics, family in the Government depts losing docs, and rubber stamping docs,
Hell, I'll bet Govt Doctors clear over 100K in Sick notes for $5 !!
How they gonna track that?
Insanity.

On New Zealand team to explain VAT in Bahamas

Posted 7 December 2013, 6:32 p.m. Suggest removal

The_Oracle says...

Yep, and it can be avoided to a degree by cutting back on unnecessary expenditure,
which will lower Govt Revenue, and will happen regardless.
It is very very doubtful that Govt revenue will increase at all,
which will create a greater pressure and gap.
I've never seem a sinking boat stopped from sinking by charging passengers on board more for the ticket.

On VAT may increase poverty levels

Posted 7 December 2013, 6:20 p.m. Suggest removal