Mark, the government cannot sustain financing small businesses. No government can. What should happen, instead, is that the government should facilitate policies whereby small business owners can create business without having to beg the government.
You do realize that Jacinda Arden - who took a paycut - makes almost $500,000 a year, right? So for her, taking a "symbolic" paycut means she still takes home over $400,000 per year. Our politicians on average dont make one fifth of her salary. And, no, many leaders did not take a pay cut during this time, so your statement is not accurate.
Average parliamentarian makes an average of $50,000 per year; those with portfolios make an average of $80,000 (notice, I said average - I am aware that an MP who holds a substantive minister post makes slightly over $100,000). source - 2017 Bahamas Handbook. The point, even if they cut salaries that will make no dent at all in our financial situation - none. It is like using a teaspoon to drain the ocean. We did not get to this point because our MPs make $100,000, but rather due to poor education, lack of a strategy for the country and failing to take advantage of a changing global environment. Save the "take a pay cut" rhetoric for the politicians.
1) Greece's civil service had little to do with its situation - false equivalent. 2) Cutting The Bahamas' civil service expenses will have a negligible effect on our budget - just read the darn budget. 3) We are not in this situation because of civil service expenses, but rather due to our totally antiquated and predatory tax laws, our poor education, visionless strategy for our country and failire to adapt to a modern, global economy. Cutting civil service expenses is analagous to treating the cough of an HIV-infected individual. The cough ain't the problem!
No they will not. Geez, can you at least try to understand economics. There have literally been hundreds of academic studies that show that offshore tax rates are relatively inelastic - i.e., foreigners will not "run off" just because the local government introduces a nominal tax rate. This statement is just false and shows an ignorance of both economics and common sense. Allen is correct, tax is disproportionate, the wealthy should be taxed more, the ORC's suggestions are nonsensical and discriminatory and - most importantly- are not grounded in any economic fact. For references: google Richard Heilbronner/ Peter Conti Brown
Let us not only blame the government. Our own people, during a referendum,denied ourselves that which you are wailing on the government about. So we deserve every bit the scorn as the politicians. Idiot Bahamians denying themselves citizenship by voting no on the referendum.
tetelestai says...
I think we are saying the same thing, joeblow, no?
On Budget's $55m for small firms 'too moderate'
Posted 29 May 2020, 12:35 p.m. Suggest removal
tetelestai says...
Mark, the government cannot sustain financing small businesses. No government can. What should happen, instead, is that the government should facilitate policies whereby small business owners can create business without having to beg the government.
On Budget's $55m for small firms 'too moderate'
Posted 28 May 2020, 2:44 p.m. Suggest removal
tetelestai says...
Which is why we need to revamp our tax policy. I am agreeing with your statement, btw.
On $10 BILLION: Pandemic and Dorian send deficit soaring
Posted 28 May 2020, 2:35 p.m. Suggest removal
tetelestai says...
You do realize that Jacinda Arden - who took a paycut - makes almost $500,000 a year, right? So for her, taking a "symbolic" paycut means she still takes home over $400,000 per year. Our politicians on average dont make one fifth of her salary.
And, no, many leaders did not take a pay cut during this time, so your statement is not accurate.
On $10 BILLION: Pandemic and Dorian send deficit soaring
Posted 28 May 2020, 2:34 p.m. Suggest removal
tetelestai says...
Average parliamentarian makes an average of $50,000 per year; those with portfolios make an average of $80,000 (notice, I said average - I am aware that an MP who holds a substantive minister post makes slightly over $100,000). source - 2017 Bahamas Handbook.
The point, even if they cut salaries that will make no dent at all in our financial situation - none. It is like using a teaspoon to drain the ocean.
We did not get to this point because our MPs make $100,000, but rather due to poor education, lack of a strategy for the country and failing to take advantage of a changing global environment.
Save the "take a pay cut" rhetoric for the politicians.
On $10 BILLION: Pandemic and Dorian send deficit soaring
Posted 28 May 2020, 9:28 a.m. Suggest removal
tetelestai says...
So a Bahamian father should not be allowed to pass his citizenship to his child?
On BETHEL TO FIGHT COURT’S RULING: Citizenship move to be fought in ‘public’s interest’
Posted 27 May 2020, 1:14 p.m. Suggest removal
tetelestai says...
Several inaccuracies in your post:
1) Greece's civil service had little to do with its situation - false equivalent.
2) Cutting The Bahamas' civil service expenses will have a negligible effect on our budget - just read the darn budget.
3) We are not in this situation because of civil service expenses, but rather due to our totally antiquated and predatory tax laws, our poor education, visionless strategy for our country and failire to adapt to a modern, global economy.
Cutting civil service expenses is analagous to treating the cough of an HIV-infected individual. The cough ain't the problem!
On Bahamas facing 'eye popping' 100% debt
Posted 27 May 2020, 11:25 a.m. Suggest removal
tetelestai says...
No they will not. Geez, can you at least try to understand economics. There have literally been hundreds of academic studies that show that offshore tax rates are relatively inelastic - i.e., foreigners will not "run off" just because the local government introduces a nominal tax rate. This statement is just false and shows an ignorance of both economics and common sense.
Allen is correct, tax is disproportionate, the wealthy should be taxed more, the ORC's suggestions are nonsensical and discriminatory and - most importantly- are not grounded in any economic fact.
For references: google Richard Heilbronner/ Peter Conti Brown
On We must ensure we take care of the public good
Posted 27 May 2020, 10:57 a.m. Suggest removal
tetelestai says...
1. List item
Actually, hyroicus, he is quite right...and he is among the few that actually understands economic principles.
On We must ensure we take care of the public good
Posted 27 May 2020, 10:48 a.m. Suggest removal
tetelestai says...
Let us not only blame the government. Our own people, during a referendum,denied ourselves that which you are wailing on the government about. So we deserve every bit the scorn as the politicians. Idiot Bahamians denying themselves citizenship by voting no on the referendum.
On BETHEL TO FIGHT COURT’S RULING: Citizenship move to be fought in ‘public’s interest’
Posted 27 May 2020, 10:37 a.m. Suggest removal