Anyone still remember the original reason for VAT? You know, to pay down the debt. Not only has all the VAT revenue been wasted by both governments, but they also need to increase the rate to pay for .....errrrrr....... anything but the debt.
It's all well and good for Messrs. Knowles and Wells to say "it's not our fault", but the Government has to start somewhere. If it were to add an obesity tax onto Micky D, KFC and the Fish Fry, then those owners would also be squealing "Not us, not us". All we'd end up with is these manufacturers and suppliers in a circle jerk, each pointing at the other, whilst the bemused Government looks on and the fat, unhealthy, population dies on its squishy feet.
I note that this is only for medical uses. Will our overrun health services be able to cope with all the people who will suddenly "need" it? I myself have an old football injury that hurts my knee every four or five years.......where do I sign up ???!!!
Using Minister Foulkes' logic, if a company in any other country decides it must relocate its factories due to high local costs and taxes, the Government of that country should ask the company not to let go its workers? Will we ever get a Minister (of any government) who knows the subject of his / her portfolio......All Mr Foulkes is doing is showing how naive and uneducated he is about financial matters in general, and the effect of higher taxes specifically.
Quote: "The web shop industry's consultants, Christiansen Capital Advisors, warned that the likely first reaction of Bahamian web shop operators to any tax increases would be to cut costs through **closing marginal or unprofitable locations**, resulting in significant job losses."
In other words then, these illegal web shop operators earn so much money that they could afford to keep unprofitable stores open? They really do seem to operate in a different world to any normal business, which would be constantly looking at how each store is doing, making closures etc as a normal practice. The sooner we have a National Lottery and get rid of all web shops, the better.
Would not a National Lottery achieve the ends that seem make you so angry?
A lottery run by Bahamians, for Bahamians, employing Bahamians, with profits going towards Bahamian infrastructure, such as schools, the arts, hospitals. The people who play numbers would be doing so in a regulated system, with published results, supervised drawings etc etc. I don't think it would take too much for people to get on board with this new outlet for their gambling needs, as tickets would freely available at all major outlets such as supermarkets, shops etc and the payouts could easily be restricted to only Bahamians or (at a pinch) Permanent Residents.
The problem with the current system (and you rightly point out the ambiguities of foreign casinos) is that people are only allowed to gamble at the numbers shops, being discriminated against going into casinos, and none of the numbers houses are properly regulated.
Also, it is worth pointing out, their very existence was voted down by a Referendum. The Government, when it held the Referendum, obviously expected a "Yes" vote, and had no alternative when the resounding "No" came back to them. In my opinion Governments, both past and present, must share equally the blame for the situation we are now in.
Agreed. Either that, or the financial statements shown to Inspectors and auditors, will suddenly and mysteriously show profits under the minimum tax thresholds.
Oh dear me.....another "no reason to feel unsafe, everything is fine". The last such statement was made by the old Police Commissioner, and the very next weekend armed robbers stormed into a supermarket out West in broad daylight.
Didn't "We the people" have our "Time" at the referendum and vote a big fat NO to webshops? How can Mr Bethel and others talk about a difference between legal and illegal webshops when there should not be any existing at all?
This problem goes back decades - if I recall correctly, the original Cable Beach hotel development in the early 1980s was funded from NIB, and we were assured that the massive profits (LOL) would guarantee our future pensions.
watcher says...
Anyone still remember the original reason for VAT? You know, to pay down the debt. Not only has all the VAT revenue been wasted by both governments, but they also need to increase the rate to pay for .....errrrrr....... anything but the debt.
On ‘On course for fiscal targets’ - but Cooper says VAT flagging
Posted 31 October 2018, 6:01 p.m. Suggest removal
watcher says...
It's all well and good for Messrs. Knowles and Wells to say "it's not our fault", but the Government has to start somewhere. If it were to add an obesity tax onto Micky D, KFC and the Fish Fry, then those owners would also be squealing "Not us, not us". All we'd end up with is these manufacturers and suppliers in a circle jerk, each pointing at the other, whilst the bemused Government looks on and the fat, unhealthy, population dies on its squishy feet.
On Drinks manufacturer: Sugar tax is a 'killer'
Posted 26 October 2018, 4:22 p.m. Suggest removal
watcher says...
I note that this is only for medical uses. Will our overrun health services be able to cope with all the people who will suddenly "need" it? I myself have an old football injury that hurts my knee every four or five years.......where do I sign up ???!!!
On Just what the doctor ordered – poll gives support for medical marijuana
Posted 5 July 2018, 1:10 p.m. Suggest removal
watcher says...
Using Minister Foulkes' logic, if a company in any other country decides it must relocate its factories due to high local costs and taxes, the Government of that country should ask the company not to let go its workers? Will we ever get a Minister (of any government) who knows the subject of his / her portfolio......All Mr Foulkes is doing is showing how naive and uneducated he is about financial matters in general, and the effect of higher taxes specifically.
On 'Don't fire workers', web shops are urged
Posted 3 July 2018, 5:11 a.m. Suggest removal
watcher says...
Quote: "The web shop industry's consultants, Christiansen Capital Advisors, warned that the likely first reaction of Bahamian web shop operators to any tax increases would be to cut costs through **closing marginal or unprofitable locations**, resulting in significant job losses."
In other words then, these illegal web shop operators earn so much money that they could afford to keep unprofitable stores open? They really do seem to operate in a different world to any normal business, which would be constantly looking at how each store is doing, making closures etc as a normal practice. The sooner we have a National Lottery and get rid of all web shops, the better.
On Island Luck staff brace for up to 350 job losses
Posted 23 June 2018, 6:16 p.m. Suggest removal
watcher says...
Would not a National Lottery achieve the ends that seem make you so angry?
A lottery run by Bahamians, for Bahamians, employing Bahamians, with profits going towards Bahamian infrastructure, such as schools, the arts, hospitals. The people who play numbers would be doing so in a regulated system, with published results, supervised drawings etc etc. I don't think it would take too much for people to get on board with this new outlet for their gambling needs, as tickets would freely available at all major outlets such as supermarkets, shops etc and the payouts could easily be restricted to only Bahamians or (at a pinch) Permanent Residents.
The problem with the current system (and you rightly point out the ambiguities of foreign casinos) is that people are only allowed to gamble at the numbers shops, being discriminated against going into casinos, and none of the numbers houses are properly regulated.
Also, it is worth pointing out, their very existence was voted down by a Referendum. The Government, when it held the Referendum, obviously expected a "Yes" vote, and had no alternative when the resounding "No" came back to them. In my opinion Governments, both past and present, must share equally the blame for the situation we are now in.
On 'Unfair' to tax web shops into losses
Posted 12 June 2018, 9:15 a.m. Suggest removal
watcher says...
Agreed. Either that, or the financial statements shown to Inspectors and auditors, will suddenly and mysteriously show profits under the minimum tax thresholds.
On D’Aguilar: Govt won’t move on web shop tax
Posted 12 June 2018, 9:01 a.m. Suggest removal
watcher says...
Oh dear me.....another "no reason to feel unsafe, everything is fine". The last such statement was made by the old Police Commissioner, and the very next weekend armed robbers stormed into a supermarket out West in broad daylight.
Plus ça change, plus c'est la même chose
On Dames: ‘No reason to feel unsafe’
Posted 12 June 2018, 8:59 a.m. Suggest removal
watcher says...
Didn't "We the people" have our "Time" at the referendum and vote a big fat NO to webshops? How can Mr Bethel and others talk about a difference between legal and illegal webshops when there should not be any existing at all?
On ‘We’ll tackle any illegal web shops’
Posted 8 June 2018, 9:03 a.m. Suggest removal
watcher says...
This problem goes back decades - if I recall correctly, the original Cable Beach hotel development in the early 1980s was funded from NIB, and we were assured that the massive profits (LOL) would guarantee our future pensions.
On IDB: 20% NIB rates needed to avoid pension crisis
Posted 25 May 2018, 4:19 p.m. Suggest removal