2 Responses to Government’s Presentation on VAT for The Bahamas

1. O. Sands says:

   September 29, 2013 at 7:35 am

   It is unbelievably conceited of our Representatives that they continue in this vein. When it is so clear that VAT will bring nothing but disaster to everyone, other than those whom Government won’t prosecute for non-compliance because they vote for them, they prove that they don’t give a damn for the welfare of the people in general.

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2. Tradewinds says:

   September 29, 2013 at 7:40 am

   Who said “the road to ruin is paved with good intentions”.. Must have been said by a wise Bahamian who smelled a dead rat behind the door.. Well he sure got the Bahamas right, an economic failure waiting to happen..
   What an empty presentation by paid government spokespersons who tried to expound the virtues of VAT.. In viewing this for the first time, it was apparent that this was not virtue but the rape of the Bahamian people.. Plane and simple, it just will not work.. Wherever it has been implemented, desperately needed revenues came up far short of optimistic projections.. This was more than likely because of the destructive nature of VAT to the underlying economy.. Greece, Italy and Spain at once come to mind where a 20 percent VAT has crushed their once thriving economy and crippling government deficits continue to grow..
   The audience present was only treated to the false belief that government revenues would increase if the Bahamas were to impose a VAT.. This was just bunk and unsubstantiated propaganda as the failure of VAT to raise hoped for revenues never seems to materialized..
   The economic danger we face as a country with a five billion plus deficit was amply demonstrated and shown by informative graphics.. But shockingly, what was NEVER mentioned by the speakers, was how much of this anticipated increase in revenues would be allocated to pay down or reduce our crippling deficit.. Not a word was heard about what government is going to financially do.. This is most frightening as it is now apparent that the government has no idea of what they are doing as the deficit continue to compound daily.. They have been sold an inflated bill of goods by the Wizards of Washington, the shameful IMF, that VAT will be our saving grace.. Fine, but not one concrete example of financial success from the implementation of VAT was or can be cited.. At least government will have something or somebody to point the finger at once VAT’s failure becomes apparent.. Guess I am just another Bahamian that smells that rat behind the door..
   Never once were the negative, economic consequences ever brought up until questioned from the floor where I am told tempers heated up.. Little was learned and sense of disbelief and despair seemed to be felt throughout the room.. Now it is time for the good men and woman of our Bahamas to stand up and be counted.. We must say NO and to tell government it must find more rational and workable solutions.. If not, we shall join the other economic basket cases of the world, but who really knows, we may be already there, close to the bottom of the basket..

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