Mid Year Review of 2015/16 Budget April 8 2016

[eliteauto]

Econ 101: when prices increase...demand falls

correct except as I have argued with local economists, pure econ doesn't apply when tied in with the the human factor, there are many exceptions and Trinis are exceptional lol

[Lance]

My concern transcends the effect of the 7% per say. I do disagree though, I think that the effect will be far greater than we think - to notice it we will need to look at the books of the large distribution conglomerates come next financial year.

But Bret my concern is that this policy signals the intention of the administration to seek, first and foremost, the interest of a select. This is not something that is new, it has plagued parties come and gone. The PP government was no different.

[BRZ]

Would you guys have preferred a devaluation to 8.5:1 in comparison to the coming online tax?

[A172]

so wam to all d shottas ITT who doz be coasin on tiida drivers etc etc?
all of a sudden alyuh is sufferers & bawlin??

[Lance]

Econ 101: when prices increase...demand falls

correct except as I have argued with local economists, pure econ doesn't apply when tied in with the the human factor, there are many exceptions and Trinis are exceptional lol

You're right Bret. Personally, I even think that many of the goods being skyboxed in shouldn't even be considered in time of recession. But that's a different debate.

I'm just worried about the policy's selective application.

[fallen_angel]

so much men here beatin up about how d big corps ripping ppl off...u all fail 2 realize at d end of d day d consumer has d power also

if d price 2 high...then dont buy it..stop e-complainin if u not goin 2 act...
stop going pricemart...tell all d ppl in ur circle 2 stop goin also...do ur part...

trinis jus like to complain n take d easy way out...ppl will say how bad tings is but never act on it, never protest for something meaningful, never take a stance to boycott, never act, jus talk and talk and talk, complain, complain, complain like some little children....ppl have to grow up and take control, make hard decisions n grow a spine, stand up for wat u believe in n fight with more than your mouth and a keyboard... this is d typical attitude that has been embedded in our past and future generations because of how sweet life in tnt is.

a typical trini knows nothing about saving, hard work, being efficient or any kind of hardship

u all will see...everyone will beatup about all this, then swallow it all, go back to buyin big rangers with 26" rims, buyin a set of flat screen tv in pricemart, putting a set of music in their car they dont need just to show off...typical greedy, wasteful, inconsiderate attitude, next ting they would be worryin about is where to lime and carnival 2017. these people aint worth d hot air they filled off

if u want a change stop complainin and do your part, your part may be as little as stopping supporting people and things you feel are unfair, if u dont want d foreign exchange leak...then dont buy UNNECESSARY tings u know throwin our forex away.

who do u all think makes d rich people rich?
its the poor that works and makes the rich have their riches.

everyone in our island is either d descendant of a slave or a poor Indo Trini who work they whole life to make a next man rich....thats d reality of d situation

if u dont like something and want a change, then u have to stand up n make a sacrifice to make a difference, change starts from d individual, stop complainin n start acting if u serious

politicians will always theif, thats what they do, stop crying expecting them not to, do your part if u want a change....d world isnt fair...if u expect politicians to not steal because u say u dont steal u are only fooling urself, thats like expecting the lion to not eat you because u did not eat him.

[BRZ]

So rather than being able to afford foreign brands, they want you to shop downtown and buy yuh cloth and get things made locally, wait nah then the Syr"............ ( flow internet cut)

[Chimera]

people will still buy online as usual

just the people who buy to resell will raise their prices

[eliteauto]

My concern transcends the effect of the 7% per say. I do disagree though, I think that the effect will be far greater than we think - to notice it we will need to look at the books of the large distribution conglomerates come next financial year.

But Bret my concern is that this policy signals the intention of the administration to seek, first and foremost, the interest of a select. This is not something that is new, it has plagued parties come and gone. The PP government was no different.

Definitely, this reeks of the same favouritism that we fear, at least we can say we're seeing some form of policy direction (same old same old), we're still hearing vacuous non-definitive statements about diversification, I had to explode 2 days ago when I suggested some simple tourism based activities to a Gov't advisor, that can be implemented using no new drawdowns save for the current budgeted allocations in a creative way that can immediately improve our tourism product ( as you know this is my passion ) , unfortunately Gov't come and go it's the same stakeholders and technocrats that give advice.

Re: the increases I'll wait it out, using basic math I'm not seeing great impact but I defer to your knowledge we'll revisit it in time

[Lance]

so much men here beatin up about how d big corps ripping ppl off...u all fail 2 realize at d end of d day d consumer has d power also

if d price 2 high...then dont buy it..stop e-complainin if u not goin 2 act...
stop going pricemart...tell all d ppl in ur circle 2 stop goin also...do ur part...

.

You need to step back and view the bigger picture.

From a pragmatic perspective. The consumer's strategy should not be to "don't buy it" but to seek an alternative.

What do you think the rise of skyboxes was all about? It was the consumer's response to above average enterprise profits. And what do you think the 7% selective tax is?- surely is a corporate backed response.

To sell this as a legitimate intention to plug FX leakage then the government needs to do:

1. Give the population an solid figure on the leakage attributable to online purchases
2. Levy the same tax on corporations that are acting as perfect substitutes for online purchases

[Miktay]

Econ 101: when prices increase...demand falls

correct except as I have argued with local economists, pure econ doesn't apply when tied in with the the human factor, there are many exceptions and Trinis are exceptional lol

In truth...Lara fete price goes up every yr...

But daz luxury ting...

[hong kong phooey]

people will still buy online as usual

just the people who buy to resell will raise their prices

even with the 7% markup+ additional taxes on that it still much cheaper buying certain items online.
You have to monitor where your item is shipped from, if it is shipped within Miami to a Miami skybox then you will have to pay state taxes . If it is shipped from another state you do not have to pay taxes.

[Dizzy28]

I use premium gas, never owned a skybox, don't gamble, drink rarely and don't smoke, all in all not a bad midyear review for me.

[WarrLordd]

I agree with some of the comments made here we would only win if we fight back trini lazy mentality wouldn't help us fight for what we deserve yes for a local man to go shopping online is now harder but sellers who already have such products locally it's your best bargain than going to a mall cause even big business men going and use this to their advantage and raise prices. If you do your part and explain to your family and friends that they can get items at a better price and save. I does see it to often people not knowing about tuners,fb sellers could have saved more than $500 on their purchase yet they lined up and ready to buy in these malls and other places.

Faxk imbert and he dirty friends you just supporting them by purchasing outside post on Facebook and media let the riot begin. Wait I getting carried away allyuh mc to lazy lol

[Ronaldo95163]

I use premium gas, never owned a skybox, don't gamble, drink rarely and don't smoke, all in all not a bad midyear review for me.

Typical PNMite

[S_2NR]

So much money is going to be saved with this online shopping tax. So much. I have brought in two packages for the year so far. Time to do without. firetruck imbert

[ingalook]

Econ 101: when prices increase...demand falls

correct except as I have argued with local economists, pure econ doesn't apply when tied in with the the human factor, there are many exceptions and Trinis are exceptional lol

Econ 101: Ceteris Paribus

The assumption of "other things being equal" that obviously does not hold in the real world

Many other factors affect online purchases:

Lack of local availability
Disenchantment with local retailers
Ease of purchase
etc.

This tax was never intended to significantly reduce online purchases - it is simply to raise revenue

[genghis]

so what is the specification for luxury motor vehicle?
or is it just any vehicle? lancer GT luxury edition? rav 4 luxury?

[drchaos]

Settle down people ... if its one thing we Trini's does do like a boss is tax evasion! So let we wait and see how Mr. Imbert gonna implement his latest round of taxes especially the online shopping tax and we will find ways to work around it.

I believe in everyone single one of you!

“One has a moral responsibility to disobey unjust laws.”
― Martin Luther King Jr.

[jhonnieblue]

Was thinking of that...what about a offshore account with a cc attached to it. Use that for shopping and no cc tax attached to it

[drchaos]

I see a lot of doctors complaining on facebook

no panadol in hospitals
all patients have to now go pay for blood tests and dialysis
no anti depressant meds available

yet they take 6 million from health ministry

Boy it bad
We rationing X rays due to lack of film, Paper to do ECG's in real short surply, Antibiotics and other crucial meds in real short supply. Staffing is a mess as they cutting down on Nurse's overtime, which used to prop up the chronic shortage of nurses. Hiring of new doctors either on a go slow or not happening at all, all the rota's in a mess. Cleaning staff at the institutions down to 1/2 -1/3 of normal levels. People seriously pissed that they have not received their back pay yet.

[Allergic2BunnyEars]

so what is the specification for luxury motor vehicle?
or is it just any vehicle? lancer GT luxury edition? rav 4 luxury?

There is nothing luxury about it. It's just based on engine size. Any engine over 1999cc will have higher taxes.

Most cars with 2 litre engines have a max displacement of 1999cc anyway so none of the vehicles you listed are really affected.

Even a BMW 320i isn't affected. Audi A6 2.0T not affected. The vehicles affected 98% of tuner wasn't buying anyway. Probably same for the population too.

[Chimera]

Was thinking of that...what about a offshore account with a cc attached to it. Use that for shopping and no cc tax attached to it

lol

and how are you loading up this offshore account credit card?

with the USD you not getting in Trinidad?

pay yuh 7% and smile, be happy its not 50%

[WarrLordd]

So where is the free wifi? People out of work and bored at home rowley sticking

[j.o.e]

so wam to all d shottas ITT who doz be coasin on tiida drivers etc etc?
all of a sudden alyuh is sufferers & bawlin??

Yup shottas was just soaking up freebies ..... They just realized they can't afford gas prices of most first world countries.

[Allergic2BunnyEars]

so wam to all d shottas ITT who doz be coasin on tiida drivers etc etc?
all of a sudden alyuh is sufferers & bawlin??

Yup shottas was just soaking up freebies ..... They just realized they can't afford gas prices of most first world countries.

Wait till they see floating gas prices. Tuner will explode.

[drchaos]

Was thinking of that...what about a offshore account with a cc attached to it. Use that for shopping and no cc tax attached to it

lol

and how are you loading up this offshore account credit card?

with the USD you not getting in Trinidad?

pay yuh 7% and smile, be happy its not 50%

You only not getting USD if you have no contacts in the bank!

[Miktay]

I see a lot of doctors complaining on facebook

no panadol in hospitals
all patients have to now go pay for blood tests and dialysis
no anti depressant meds available

yet they take 6 million from health ministry

Boy it bad
We rationing X rays due to lack of film, Paper to do ECG's in real short surply, Antibiotics and other crucial meds in real short supply. Staffing is a mess as they cutting down on Nurse's overtime, which used to prop up the chronic shortage of nurses. Hiring of new doctors either on a go slow or not happening at all, all the rota's in a mess. Cleaning staff at the institutions down to 1/2 -1/3 of normal levels. People seriously pissed that they have not received their back pay yet.

Thiz has been so 4 the lass 30 years

[Miktay]

Econ 101: when prices increase...demand falls

correct except as I have argued with local economists, pure econ doesn't apply when tied in with the the human factor, there are many exceptions and Trinis are exceptional lol

Econ 101: Ceteris Paribus

The assumption of "other things being equal" that obviously does not hold in the real world

Many other factors affect online purchases:

Lack of local availability
Disenchantment with local retailers
Ease of purchase
etc.

This tax was never intended to significantly reduce online purchases - it is simply to raise revenue

And the other side of dat coin iz cost.

900k Benz...fixing stadium that s/never have been built iz not fiscally responsible

PNM...like the gubbament b4 them...just talking the talk and not walking the walk.

[lostboys crew]

Blah blah all this beat up u know if 75% of drivers take the public transportation and maxis to work for a week and don't buy fuel you will see how fast they will drop fuel prices.