My Morning Paper – October 19, 2016 – Tax Consideration

From ‘Day One’ of the Progressive Liberal Party’s (PLP) returning to office in May of 2012, the very first thing that they did, even as they complained about the ‘dire’ financial straits that the former Free National Movement (FNM) government had left the economy of the country in, was to increase the size of government and ever since the government has been a burden on the backs of the people, whom they claimed to represent and believe in; as they continually attempt to tax the Bahamian people to fulfill the unrealistic goals (promises) they had given on the campaign trail.

Tax Stress

“Govt. Consider Hurricane Tax” – The Tribune

Excerpt from this article; “When it meets today, Cabinet may consider introducing and implementing a special tax to help finance Hurricane Matthew repair and recovery efforts, Prime Minister Christie said yesterday.

If implemented, such a tax may be imposed in such a way that has ‘minimal impact on people,’ he added.

His statement came as he and other government officials toured areas in New Providence that we hard hit by the storm, many of which remain without power and will continue to do so for some time because of the floods they suffered.

Mr. Christie said: ‘We have to give serious consideration to a move effective way of financing the loss that the country has experienced because we’re also paying for Hurricane Joaquin and it may well be that we have to give serious consideration to a selective approach to raising money by taxing some item that would be of minimal impact on people.  But it’s a matter we have to look at because it’s an enormous challenge to the country.  We’ve been faced with downgrading.  This is not an easy situation.  We thought the way was clear with Baha Mar.  But we have Hurricane Matthew.

Mr. Christie previously talked about the government’s intention to create a $150 million Hurricane Reconstruction Bond that would assist people, as well as small and middle sized businesses impacted by the hurricane and to help accelerate reconstruction efforts.”

This goes out to both governments; we live in a hurricane zone and it is being indicated that we do not have a disaster relief fund?

Surely, we must.

Bahamas Financial Services Board

Industry News

Disaster Relief and Recovery Fund activated

Thursday, September 9th, 2004

Excerpt from this article; “In wake of Hurricane Francis, the Ministry of Finance announced yesterday that the government of the Bahamas in conjunction with the Royal Bank of Canada has reactivated its Disaster Relief Fund.  Sen. the Hon. James Smith the Minister of State for Finance and Mr. Ross McDonald, Senior Vice President, Royal Bank Bahamas & Caribbean, are co-chairs of this initiative.

The latest release from the Bahamas Ministry of Tourism indicates that with the exception of Grand Bahama Island, most islands in the 700 island nation sustained minimal property damage from Hurricane Francis.  Nassau International Airport is fully operational and cruise lines have returned to normal services into New Providence.

The Disaster Relief fund is used to assist with emergency relief efforts following disasters,…….”

So there is a system in place but it has either been deactivated or just not properly managed, because I am sure if I were to ask persons about it most would not know that it even existed at one point in time; this to me is pure madness.

The government plea at this time, comes when they will rely on us being our ‘brother’s keeper’; which is to say, no one should be against a tax to help his ‘brother’ but if you are yourself have been brought to a point, though increasing taxation and big government, wherein you are barely keeping you head above water; how will a new tax affect your already strained way of life and how can I keep my ‘brother’ if I to need keeping?

And for your information, Mr. Prime Minister, there is no way to impose such a tax in such a way that has ‘minimal impact’ on people, as you and your government still try to figure out how to impose a tax to fund National Health Insurance, because the persons most adversely affected are those in the middle class; the ones that actually drive the economy.

The Progressive Liberal Party fails for one reason, it is their nature.

END

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