Will the Bahamian Economy sink like a busted balloon with VAT?

Posted on March 10, 2014 by weblogbahamas

VAT Balloon

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1 Response to Will the Bahamian Economy sink like a busted balloon with VAT?

  1. Tradewinds's avatar Tradewinds says:
    March 11, 2014 at 5:27 am

    Do we as a nation have government for the people and by the people or do we have government by and for the government?? Government for its own sake and purpose is totalitarian by its very nature benefiting only the political elitist class.. Government decisions are make to support and maintain the ruling class at the expense of the masses.. VAT implementation by its very regressive design is an attempt by government to maintain power and control by the political ruling class over a less informed public.. The damage to be caused by VAT will be irrevocable and will change for the worst the entire business structure of the country..
    Ask yourself what doesn’t government not understand about the historical failure of VAT?? Does government not know that anticipated revenues will nor be forth coming due to business and consumer adjustments to excess burden.. Where ever VAT has been introduced, revenues short falls always materialize.. Do they not realize the VAT causes a rapid rise in inflation causing the country’s cost of living to skyrocket and forcing over 10 percent or more to fall into the ranks of poverty?? Has government given any meaningful thought to what will happen to the private sector where businesses will be forced to close or dramatically cut operating costs and reduce employment?? Again the damage caused by VAT will be irrevocable and draw the country into prolonged recession with negative impacts upon the tourism sector..
    Finally government must recognize that VAT has been a failure wherever it has been implemented.. It has failed in Europe, the Caribbean and even New Zealand.. Check out the high cost of living and leakage (VAT avoidance) in these countries.. Can we afford another 20 percent increase in our cost of living?? The cartoon got it right and send a clear message.. For the sake of our Bahamas, Stop VAT Now..

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