The Tribune

EDITOR, The Tribune.

As we watch the Laffer curve effect make its way into our economic system, there is one economic behaviour shared amongst politician’s past, present and aspiring is this PUBLIC CHOICE THEORY (how elected officials, bureaucrats and other government agents can be influenced by their own perceived self-interest when making decisions in their government portfolios).

The epitome of my point is look at the coming hike in national insurance.

The government knows this hike at the national insurance board is bad for the economy, but they still intend to force it on the people because it is in their best interest to collect more taxes to make the people believe they’re accomplishing their goals.

They also need more money to continue the party and the lavish spending on trips and to continue to promote nepotism, cronyism and their lobbyists.

This tax will have serious ramifications on the business community where they’re getting their taxes from and causing the Laffer curve effect to be enforced.

I’m just wondering, why do we have multiple ministries carrying the same role?

Case in point, disaster preparedness and Nema, Data protection and national security - we have the office of the deputy prime minister, which is of no existence, but money is put aside in the budget for this and each time the ministry the deputy is responsible for, in this case tourism is where their office is.

I thought the auditor general’s office was to ensure our money is accounted for, so why is there any office of physical responsibility.

The majority of these ministries add no value to the economy, they become a liability to the taxpayers in the name of creating what some Bahamians call a good government job.

Not to mention the kraken fees we pay in rent through nepotism and lobbyist and sign onto these ninety-nine plus years contracts at the tax payer’s expense.

Also, lest I forget in each budget there is one billion dollars in personal emoluments and this has yet to be explained what are these personal emoluments and why so much?

In a nutshell our governments, past and present, would know these things are not conducive to produce quality favourable results for our economy, but they do it in hopes of being re-elected and taking care of the special interest groups.

Then after making a mess in our economy, they would then come with an oration and all the rhetorical speeches trying to sound intelligent as if they did something good.

Maybe they did something good to benefit themselves and their special interest people and they use a whole lot of demagoguery, even though they themselves made the issue and benefited from the issues they created.

I will close on this note, all the monies that were borrowed from National insurance by other government ministries should be repaid, there are other avenues to bail national insurance and other ministries out of the mess they’re in, if your advisers are being paid and not producing!

Why are they there?

I forgot the loyal ones and those who paid their way must be reimbursed at our expense.

BAHAMIAN TYCOON

Nassau,

January 11, 2024.