Budget 2016/2017

[drchaos]

what's wrong with online tax?

some taxes make sense, or have sound grounds, it ent all some scheme to scamp and/or punish.

T&T has a FOREX issue, and FOREX is lost immediately on purchase. if this tax compensates for FOREX, then fine. just have to suck it up. i run an online business, but i and most others i know in same business suck it up, there is the bigger picture to look at.

T&T has a FOREX issue only when it's citizens need it.

When a large corporation backed by party financiers request and hoard FOREX it's no problem.

I was in hesitant support of it, until I realized this^^.
The intention is to curtail foreign purchases online, then the local big sellers, purchase the same foreign goods.

The citizen is left to pay an inflated price compared to an online purchase.

This would weaken the purchasing power of the citizen, eat into their disposable income and stagnate their local economy spending.

I can't buy bbq tonight because u had to spend more for ur goods than before. Then the bbq man suffer.


If keeping the USd is the issue, raise the exchange rate even more so that all parties would play on the level ground.

That's exactly what they trying to do. They want too weaken the purchasing power of most of the citizenry. They want you changing your car every 8 years instead of 4. They want you to keep your phone an extra year or two instead of upgrading now. They want you thinking twice about wants vs needs on amazon.

A pro PNM economist wrote a letter to the editor a while back. His theory was that we have too much disposable income to allow for a healthy economy. His logic was that everything is subsidized (cost of living) leaving huge chunks of cash lying around with which we burn through alot of unnecessary foreign purchases. Cut everyone's power and the forex drain would drastically slow down.

[sMASH]

Yes, that is true,,, and what happens when they(I) still decide to buy online, and decide to ration my local spending, cause value for money...?

[sMASH]

Oh, and to the disposable income, I wuk for dat. If u want me to have an income that better matches the outflow, demote or transfer to a less rewarding job.

[Slartibartfast]

Going for a drive get expensive. Can't enjoy nature without fear of being robbed in a secluded area. .

Alot of people will overlook this.... If some only knew how this affect family and relationship life on a real...

There is little to no sense of relaxation and comfort anymore, no spontaneous decisions to venture on a drive because now it have to get planned and money put aside..

I not old to know how it use to be, but i sure as hell know in the last couple years it really gone to sheit.. Can't even use a $200 to full gas and buy a lil goods for maracas anymore

x2

Yup. To me this is the biggest thing that made T&T go from "sweet sweet TnT" to... whatever it is now. I not that old but when I was younger we used to be playing football on the field all 9:00 in the night when I was like 10 years old. Now once sun goes down, everybody inside and even during the day I only see kids outside playing if a parent is there to keep an eye on them. Even if it is on a playing field. I hardly see children playing in the street anymore and we had nintendo and cable back then so video games and TV can't be the only reason for everybody sticking up in doors now. For the first time I actually thinking it might not make sense to start a family down here.

[ingalook]

privatisation....NG. FCB...about time.

e-teck.

Agreed - let's privatize the most lucrative assets the state owns...

Kill the golden goose much?

[pugboy]

Why don't they start taxing fete promoters all all them carnival bands

[Redman]

privatisation....NG. FCB...about time.

e-teck.

Agreed - let's privatize the most lucrative assets the state owns...

Kill the golden goose much?

Privatize the management and offer a 49% stake in the co with it.

GORTT retains ownership but cedes operational control to XYZ co -and they are mandated to turn a profit.

[sMASH]

^^ agreed with privatization of the management. Government just would not be able to maneuver quickly enough to respond to changing market trends, and upcoming technologies.

This way get the best mix of management, efficiency and income .

[ingalook]

Isn't FCB already the most profitable bank? Gov is currently running something BETTER than the private sector - yet let's privatise it?

[desifemlove]

privatisation....NG. FCB...about time.

e-teck.

Agreed - let's privatize the most lucrative assets the state owns...

Kill the golden goose much?

the state holds no place in owning banks.

[desifemlove]

what's wrong with online tax?

some taxes make sense, or have sound grounds, it ent all some scheme to scamp and/or punish.

T&T has a FOREX issue, and FOREX is lost immediately on purchase. if this tax compensates for FOREX, then fine. just have to suck it up. i run an online business, but i and most others i know in same business suck it up, there is the bigger picture to look at.

T&T has a FOREX issue only when it's citizens need it.

When a large corporation backed by party financiers request and hoard FOREX it's no problem.

I was in hesitant support of it, until I realized this^^.
The intention is to curtail foreign purchases online, then the local big sellers, purchase the same foreign goods.

The citizen is left to pay an inflated price compared to an online purchase.

This would weaken the purchasing power of the citizen, eat into their disposable income and stagnate their local economy spending.

I can't buy bbq tonight because u had to spend more for ur goods than before. Then the bbq man suffer.


If keeping the USd is the issue, raise the exchange rate even more so that all parties would play on the level ground.

That's exactly what they trying to do. They want too weaken the purchasing power of most of the citizenry. They want you changing your car every 8 years instead of 4. They want you to keep your phone an extra year or two instead of upgrading now. They want you thinking twice about wants vs needs on amazon.

A pro PNM economist wrote a letter to the editor a while back. His theory was that we have too much disposable income to allow for a healthy economy. His logic was that everything is subsidized (cost of living) leaving huge chunks of cash lying around with which we burn through alot of unnecessary foreign purchases. Cut everyone's power and the forex drain would drastically slow down.

economist? he bought his degree? foreign shopping is more complex than this man lets on. he should be an economist in the old USSR, if he wants to stop people spending on what they want.

[Daran]

That is the worst economic advice I've ever come across.

Disposable income is what makes an economy healthy. It allows us middle class citizens to spend money in our local economy, contribute to our savings and pursue more productive hobbies and lifestyles.

All these "foreign" goods we bring down help the economy. They're used in businesses, education and learning, upkeeping our cars, in creative fields such as music and arts, etc.

Honestly, I really have to question PNM's economic advisors, because they seem hell bent on making this recession far worse than it should be.

[desifemlove]

too many dopes in high places, wit "education and training"...that's part of the country's issues. this foreign goods thing is complex. take wheat. people does eat bread, doubles, roti, cakes, and no way we can grow the wheat to make enough flour, we have to import. or household appliances, we cannot make stoves or fridges. or meds that people need, that aren't available here. And Trini stores have base/bargain goods, take electronic stuff, or computers, the stores here don't have the product range of overseas stores.

[cherrypopper]

Why don't they start taxing fete promoters all all them carnival bands

Well well ..... Music to my ears

[bluesclues]

privatisation....NG. FCB...about time.

e-teck.

Agreed - let's privatize the most lucrative assets the state owns...

Kill the golden goose much?

Them fellas too smart for they own big toe yes.lol

[pugboy]

I know it is a bit sacrilegious but tax the shark bake vendors too
Yes carnival, doubles and shark bake define us as a nation but it is not fair that those entities pay no tax or are not targeted

Why don't they start taxing fete promoters all all them carnival bands

Well well ..... Music to my ears

[Redman]

That is the worst economic advice I've ever come across.

Disposable income is what makes an economy healthy. It allows us middle class citizens to spend money in our local economy, contribute to our savings and pursue more productive hobbies and lifestyles.

All these "foreign" goods we bring down help the economy. They're used in businesses, education and learning, upkeeping our cars, in creative fields such as music and arts, etc.

Honestly, I really have to question PNM's economic advisors, because they seem hell bent on making this recession far worse than it should be.

Which advice is this ??

[viedcht]

Why don't they start taxing fete promoters all all them carnival bands

Don't they already pay taxes? @the gas pump? @the grocery? @inland revenue?

[Daran]

Why don't they start taxing fete promoters all all them carnival bands

Don't they already pay taxes? @the gas pump? @the grocery? @inland revenue?

People have the wrong idea about taxes. You don't over tax things that generate revenue otherwise you kill a money making sector. Remember there are many businesses that revolve around carnival.

Taxing is a complicated topic, but the current research points to a consumption tax being the most fair and least damaging.

Which is why is was strongly against lowering VAT to 12.5%, in fact VAT should have been raised to 20% (while leaving the zero rated VAT items alone) and we wouldn't have gotten into this mess.

That is the worst economic advice I've ever come across.

Disposable income is what makes an economy healthy. It allows us middle class citizens to spend money in our local economy, contribute to our savings and pursue more productive hobbies and lifestyles.

All these "foreign" goods we bring down help the economy. They're used in businesses, education and learning, upkeeping our cars, in creative fields such as music and arts, etc.

Honestly, I really have to question PNM's economic advisors, because they seem hell bent on making this recession far worse

than it should be.

Which advice is this ??

From drchoas post:

A pro PNM economist wrote a letter to the editor a while back. His theory was that we have too much disposable income to allow for a healthy economy. His logic was that everything is subsidized (cost of living) leaving huge chunks of cash lying around with which we burn through alot of unnecessary foreign purchases. Cut everyone's power and the forex drain would drastically slow down

[pugboy]

lol, the carnival industry is probably second to casinos wrt to regulation and knowledge of income generated
you think fete/bands accurately tell bir how many masqueraders they got ?
not to mention profits they make, lets not forget a lot of this is pure cash business

in barbados it is quite common for a vat/govt guy to show up and count persons coming into a fete
when last the var/bir people did that for a fete/boat ride ?

we like to pong the doubles man but overlook others for one reason or another

[Daran]

Well I didn't say there wasn't need for regulation. My argument was that carnival itself generates a lot of spending locally. You recoup taxes in the form of vat, remember you might have spent $500 in a fete. But money doesn't disappear into one persons pocket, it's spread to hundreds including event rentals, artists, security and then the shareholders of the fete promotion company, all of whom will spend that money locally.

Add a "carnival" tax and you cut the amount of money shareholders will risk putting into carnival reducing the size and money spent on events. You then reduce the money circulated locally. Which I don't know if I have to say it, but yes it's bad.

The best way to use taxes to get money from citizens is ensure they have disposable income and the add a consumption tax like VAT.

[pugboy]

They simply need to go after the tax evaders first, not a carnival tax

But simply all these cash businesses which seem to be off the radar purposely
Not fair to those who pay taxes

[cherrypopper]

Like nailing jello to the wall. .

[Daran]

They simply need to go after the tax evaders first, not a carnival tax

But simply all these cash businesses which seem to be off the radar purposely
Not fair to those who pay taxes

I somewhat agree with you, but they'll probably start with the poor nuts and sno cone vendor instead of bigger businesses that could sponser them

I agree. And with roughly 30% of our economy being laundered drug money, the best way to do this would be through gaming taxes and increased VAT.

[Numb3r4]

The speed limit petition was a success....no one is driving 80kph....

[pugboy]

a sure way to ketch plenty is via the filing of deed conveyancing when properties are bought/sold
such transactions should be recorded so that the parties can be checked to be earning properly and not
in fishy business. That was the way the USA brought the NY mafia under control.

No way would abu bakr be able to have 31 properties in a matter of a few years after being let go

[desifemlove]

I know it is a bit sacrilegious but tax the shark bake vendors too
Yes carnival, doubles and shark bake define us as a nation but it is not fair that those entities pay no tax or are not targeted

Why don't they start taxing fete promoters all all them carnival bands

Well well ..... Music to my ears

all self-employed people should pay tax. if not, it's the government's fault for not clamping down. the laws are clear they should declare incomes and pay BIR numbers.

[ingalook]

No one else has a problem with the plan to privatise the Couva Hospital???

[BRZ]

The Couva Hospital will soon be referred to as the St Clair medical of Central.
At least it should give people alternatives in Emergencies.

[Dizzy28]

No one else has a problem with the plan to privatise the Couva Hospital???

Years now I wondered why Mt Hope was never privatized (if at least partially). I support the privatization if it means a resource that will be underutilized be put to productive use. The terms of the privatization could be commercial however since Medical care is a citizen benefit the cost to GORTT could be the facility plus costs for free use by citizens.