The Tribune

EDITOR, The Tribune.

While it is all but too late the government has finally woken up to implement a tax to help the treasury while not even creating a dent in the elites standard of living. It is a start, however, it does not go far enough to make the obscene “in your face” wealthy pay their fair share. Neither does it alleviate the paralysis placed on the poor and middle class (the latter all but eliminated at this point).

To create any form of level playing field for the exploited government should consider the following VAT rates on Conveying Property:

$100,000 - $ 500,000 - 6%

$500,001 - $ 1,000,000 - 8%

$1,000,001 - $ 2,500,000 - 10%

$2,500,001 - $ 7,000,000 - 12%

$7,000,001 - $ 10,000,000 - 15%

$10,000,001 - $25,000,000 - 17%

$25,00,001 and over - 20%

Despite the noise from some of my colleagues and others, this isn’t even a drop in the bucket from the amount of wealth investor’s buying these properties have; 90% of whom are Americans pulling their wealth out of the U.S. and parking them into hard assets for obvious reasons. And they will continue to do so over the next year or two, so Bahamas Government should take advantage of it. If fuel went to $200 per gallon, their lifestyle wouldn’t change one iota, but would cripple even above average Bahamians, so they are going nowhere. We have the location, the beauty, and certainly the lifestyle behind some of these gates. As a down to earth client (one of the few in these communities) told me .....”These people don’t know what to do with raw food.”

These are the very people paying $35,000,000 for a $12,000,000 house, so cry me a river regarding paying a few more percentage points in VAT for a sector of society who purchases property for an obscene amount, only to tear down the house and build new for another $30,000,000 in a competition among themselves on who has the largest house on the block. Just go out to the airport for 30 minutes; One private $20,000,000 plus jet after another every 30 seconds landing at Odyssey and Jet Nassau, making Delta, American, Jet blue, etc. appear extinct.

This is the same sector of society when interviewing for domestic help, only offers the job if the applicant agrees to ZERO time off! A complete seven-day work week with no time for family, self, recreation, etc. I was under the impression this was against our labour laws, but once again... “rules for thee but not for me.”...exploitation of us peasant serfs is the norm for many of them and you dare not get above the poverty line, ever. Unfortunately, our Bahamian elites (in particular the political sewer rats) have sold us and our birthright out, forever.

While these communities, their restaurants, bars, beaches, businesses never closed, the Bahamian entrepreneur was forced to close and lock down with many to never appear again.

I mentioned before and will state again, it’s time for the freebie of the obscene rich and wealthy to end and end now! But I won’t hold my breath, good little sheeple, just do as you’re told.

But, hey, It’s Da Peoples time.

CHRISTOPHER ARMALY

Nassau,

June 3, 2021.