EDITOR, The Tribune
The “Graduate” never ceases to amaze me. After saying all the good things Rupert Roberts has done in his lifetime he proceeds to get nasty, degrading and personal.
Yes, Mr Roberts has made money. Yes, Mr Roberts is on the top of the pile. He got there by hard work and at the same time helping others. The Graduate, on the other hand, has probably sucked his way to the top, helping nobody on his way up!
When I was Minister of Agriculture I started a campaign “Buy Bahamian”. Mr Roberts was the first one to join in. When I returned from a trip to Exuma, I phoned Mr Roberts and told him that the farmers there were unable to market their peppers. He sent his people there and bought virtually all the peppers. All Bahamian produced products got prime position on the shelves of Super Value.
When I put a ban on bananas to help Bahamian farmers get into the market, Super Value bought as many as could be supplied. City Markets, on the other hand, refused to buy any.
The Graduate says that City Markets gave many scholarships. They did indeed. Super Value gave as many. He helped people build homes and develop businesses.
And the Graduate says he’s a doddering old man who needs to “evolve”. That’s what you call ingratitude!
And all this criticism because he does not believe that joining the WTO is good for The Bahamas?
True, Mr Roberts has no formal university training in economics, but he does have a PhD from the University of Hard Knocks. Personally I would have thought that advice from a man with Mr Roberts’ local experience and knowledge would be far better than someone with little or no experience on the local scene.
Obviously, he spoke of how it would affect his business, which he knows best. With this knowledge he would be able to predict how it would affect other businesses. The Graduate indicates that he should be happy to know that his business has been protected in the WTO agreement and, therefore, should not worry. Yes, this is how the Graduate thinks ... himself only. Mr Roberts, on the other hand, thinks of how it would affect those other Bahamian businesses that are not protected.
The Graduate indicates that Mr Roberts should “partner” with a foreign company in order to modernize his stores and thus bring prices down. Experience shows and history tells us that a foreign owned company does not automatically bring prices down.
But let us for one minute buy the Graduate’s argument. Let us say the foreign “partner” buys 45% of Super Value. This means that when dividends are declared, 45% of the amount declared would leave the country. What?!
To save money, the 45% foreign investor may suggest that Super Value’s administrative operations should be moved out of the country. This means more Bahamian jobs could be lost. What!? (Don’t believe me? Check BPL and BTC.)
Maybe the Graduate has another motive. Maybe, just maybe he/she/it has a friend or family waiting in the wings to get a piece of the action. Just maybe.
The argument that we must join the WTO in order to eliminate import duties has been used quite frequently. This is not true. Import duties and joining WTO are two different things.
Our form of taxation was designed assuming that duties would be around 10 percent.
It taxes from the “bottom up”. In other words, it becomes part of the “cost of doing business” which means it is added to the price of the item, which pushes prices up.
On the other hand, “corporate tax” is charged from the “top down”. This means that a person is taxed on his/her profits and it’s not added to the cost of the goods.
Whether we join the WTO or not, the system of Import Duties has to change because it’s pushing prices too high. The “little man” is being asked to bear too much of the burden.
Today, the government is making more on a car than the dealer who is now being accused of “over pricing”. The government makes more than the merchant on most ... if not all ... items that are brought into this country.
Yes my friends be careful. WTO may bring plenty of money for some people and make others slaves. But why does the Graduate care, he/she/it probably has a strong suction cup!?
PIERRE V.L. DUPUCH
Nassau
April 23, 2019
Comments
Sickened 5 years, 6 months ago
Lol! You got him good Mr. Dupuch. But too be honest, it wasn't a fair fight in the first place.
birdiestrachan 5 years, 6 months ago
The good Lord knows Our country is in need of more Pierre V. L. Dupuch.
Well_mudda_take_sic 5 years, 6 months ago
.....and much less of you. LMAO
Chucky 5 years, 6 months ago
The tax on profits versus duties is a red herring.
Everyone knows corporations will find “write offs” and pay essentially no tax as they do in every country. The idea of income tax will be no different than duties, it will inevitably end in the low income earners paying most of the tax. The only real solution is a tax based on assets, because wether it’s personal or corporate income tax the wealthy always find the loopholes that will be cleverly included in the legislation. We all know that a tax based on assets would work, and be fair, and that is precisely why it will never be instituted in any nation.
After all we know that the ruling class and the wealthy are one in the same, and what’s good for one, is good for the other. So who of the ruling class is ever going to create and pass legislation that costs themselves money.
If only there were a way that the masses could be number one consideration of all legislation created and passed.
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