1 Response to New Providence Bahamas Survey on VAT

1. Tradewinds says:

   March 16, 2014 at 9:06 am

   An interesting survey with no surprises in its conclusions.. Nevertheless, it does add to and support the evidence that VAT is an undesirable course of action for the Bahamas to pursue at this time..
   The statistical support and opposition to VAT broke down as could be expected.. The 7 percent support was most likely from the political elitist and public sector bureaucratic class as VAT is absolute necessary to continue paying their massive salary costs and to perpetuate their very existence.. In contrast, 65 percent of the general public that will be forced to pay this regressive tax burden are opposed outright to its implementation..
   What was a little surprising was that 28 percent of the public surveyed answered, “Didn’t Know”.. I guess this means that about 25 percent (my estimate) of the population base have no real idea about the adverse consequences and financial pain that will result from VAT.. The forces opposed VAT must continue to speak out and inform the public about the terrible consequences of VAT, and oppose the government’s on going propaganda indoctrination campaign.. Let us not forget that the Bahamian tax payers are paying for this hype and indoctrination drive without fairly airing both sides of the issue..
   The public must be made to understand that the biggest failure of VAT will be the revenue shortfall that will accrue from this failed policy.. The Nassau Institute’s analysis of the consequences of VAT clearly emphasized this fact which has been ignored by government demonstrating its complete lack of understand of economic Excess Burden.. VAT must be stopped as the Bahamas cannot afford the loss of revenues, known in economics as Deadweight Loss, resulting from this destructive VAT policy.. The consequences of VAT will be catastrophic and will negatively impact every citizen and resident of the Bahamas.. What ever must be done, must be done to “Stop VAT Now” before it reeks its destructive and ruinous forces upon our country..

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