Comment history

realitycheck242 says...

The two women now have a GoFund me account looking for $10,000 to fund their next trip. they want sympathy donations from the Bahamas experience. SMT

realitycheck242 says...

It is being reported on the news in the home town state where the two women live, that they are Attention Seekers who are famous for travelling and creating false reports.

realitycheck242 says...

Its time to extend Goodmans bay west ward and eastward to the boundary of the Wynn property. Demolish and landscape the property where those two dilapidated houses are located. Don not let Mr Wynn build no hotel there. If that happens Goodmans bay will be restricted one day from Bahamians.

realitycheck242 says...

With the aerodynamic design of this building and its proximity to the beach, You can rest assured that the foundation will extend hundreds of feet into the ground. Out of the 100 mill cost. 10 mil will go to just the foundation.

realitycheck242 says...

These penthouses will start at $2,500,000. The average Bahamian is being boxed in on this island. Soon our grand kids will have to travel to a family island to go on the beach.

realitycheck242 says...

I agree with Rev Morrison, these political leaders have turned a blind eye to the illegal immigration situation in this country. The illegals are coming in by plane and simply overstaying their time, that's why the BDF commodore can report a down-ward trend in arrivals. I see new illegal faces every day especially in the inner city. I know they are illegal by the creole the speak.

Set up check points at bus stops, go back to the old Pindling era ways of knocking down doors at all hours of the night. Speed up the demolition of shanty towns.

realitycheck242 says...

Atlantis has security guards positioned at all entrances, who are detouring Taxis with guest from the cruise port to specific areas for off-loading. Wheel Chair customers, Rainey weather, Walking distance to the entrances are causing problems. for the Guest.

realitycheck242 says...

Gov needs to mandate that for every fast-food license issued, there must be a health food section in the establishment. How will this country ever get over the crisis cause by the standard American diet.

realitycheck242 says...

So we are in this situation today because of bad government policies which is causing the suffering of the Masses because a politicians job is to create an illusion of success to satisfy the masses to stay in power, all the while the majority of the population suffers, and they blame it on inflation and tax us all from cradle to grave.

On Laffer curve and taxes

Posted 29 December 2023, 1:31 p.m. Suggest removal

realitycheck242 says...

Bahamian Tycoon, your Laffer curve theory is sound and a very good explanation for the Government past and present is doing to the Bahamian people. It all boils down to the economic policies implemented by the various administrations (PLP and FNM) from we achieved majority rule in 1967.

While the period from 1967 to 1992, and especially after independence in 1973, remains “the most transformational time in our post-independence history”, Ingraham administration policies meant that those who already had significant capital did very well, and there was no significant positive impact on national development under a Minnis administration.
Families who benefited from the country’s natural resources via shares in those companies , were given an enormous head start, in terms of the ability to accumulate capital and wealth.

while education gave thousands of Bahamians new paths to self-empowerment and opportunity, the economy was not sufficiently expanded and diversified in order to accommodate them.
“After the initial group of middle-class success who all had political connections, educated Bahamians were later encouraged to become ‘jobseekers’, rather than people with high ambitions to pursue careers and create wealth,”
Financial and personal discipline played a role in those who today can be said to have succeeded and those who lost it all. Let us not forget that the drug era fueled a fake illusion of a vast underground economy for many who have either passed on and was not able to transfer their wealth to the next gene
The arrival of the Ingraham in 1992 signaled many changes that today still have a profound effect of the Bahamian Population. One such policy is the amount of consumer loans or consumer credit Bahamian workers are allowed to access. Consumer debt in 1991 was about $271Million or about $2,000 for every working person. By the end of 2014, the level of consumer debts had increase to almost $2.3 Billion Dollars or about $11,500 for every working person.

Thus, from 1991 to 2014, our average income after taxes increased by about 8 percent but the level of our consumer loans went up by almost 500 percent.
The true position is worse.

How did this explosion in consumer credit really begin?

In 1991 to secure a consumer loan, government policy was that you had to have first saved something. Specially, if you wanted to borrow $1,000, you had have at least $350 of your own. Beginning in 1992 or early 1993, the Government decided that this policy was a "harsh restriction". So the need for any deposit was eliminated. You no longer had to save anything.
For workers It Drastically Worsened Their Financial Position. The maximum amount of a salary which could be paid via an authorization for "salary deduction" was 45%. Over a period of time, even that policy has changed. With excuses like exemptions for emergencies, The typical Government employee is actually seeing only 28% of his or her income as take home pay.

On Laffer curve and taxes

Posted 29 December 2023, 1:20 p.m. Suggest removal