EDITOR, The Tribune.
DOES anyone at the Office of The Prime Minister understand precisely what the recently announced and successful new Trump Tax Reform actually created?
American companies will now have an enormous advantage to invest at home and not in China - Taiwan and other countries, (Bahamas) around the globe as the Corporate Tax is now extremely competitive.
So why is the Prime Minister and entourage heading off to Houston?
President Trump promised America First - he now successfully got through Congress and the Senate his Tax reform which has already seen major US companies with billions overseas transferring them and committing to long term new employment opportunities, 20,000 in America!
Surely someone In the Economic Planning section at DPM should have advised the PM - seems even they do not understand?
Even if The Bahamas offered the max of tax concessions the sole possible advantage might be the cost of our untrained labour, but will that make US Investment attractive -I doubt it -It is America First, sir!
Nine months gone and not a single project announced to increase employment.
I am wondering did we make a mistake on May 10th?
W THOMPSON
Nassau,
January 21, 2018.
Comments
Sickened 6 years, 2 months ago
"I am wondering did we make a mistake on May 10th?"
No we didn't. First off, we didn't have a choice. It was either Minnis or Perry. Clearly Perry wasn't even an option - like zero. Face it, Minnis was the ONLY option we had. Now we just need to steer him in the right direction by shouting loudly and consistently.
killemwitdakno 6 years, 2 months ago
That's why they should have done the 1% corporate tax knowing they would lose the companies.
John 6 years, 2 months ago
If Trump's tax cuts have their desired effect, it will mean that there will be more US employment Aand more money in the hands of Americans. It should also mean more competition with the Far East, China and Japan, and eventual reduction in consumer prices. And as persons have mor disposable income, they tend to travel more and take longer vacations, and, hopefully, the tourism industry will rebound and that is where the Bahamas will benefit. Some economists also predict that vehicle production/sales in the US will drop by 60 percent over the next few years as persons switch to driverless cars and 'taxi' services like UBER. Vehicle production will fall from 18 million units per year to around 6 million. Most of these vehicles will be electric or alternative energy. This is expected to cause oil prices to fall back in the .27.00 range with a corresponding decrease in gas prices. Hopefully by then The Bahamas will also have switched to alternative forms of energy and brought down its cost of energy. Some parts of Texas offer consumers free electricity during off peak periods and the average cost of power is about 1/3 or what it costs here.
sheeprunner12 6 years, 2 months ago
If American companies are more successful ........ and more Americans are employed ........ and our top industry is tourism ......... How can Trumpanomics be all bad for The Bahamas????
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