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Rich need to pay like the rest of us

EDITOR, The Tribune.

I appreciate the editor allowing me to speak truth to power without fear or favour. Too many of us sit idly by and have a problem with what’s being said but need help to gather the courage to say something. These same people would be the first to complain about anything and criticise everyone who steps up to shine a light on the hypocrisy. We are too busy calling wrong, right, and right wrong because of who is talking.

I am amazed to read that, with a straight face, the chairman of the Bahamas Chamber of Commerce and Employers Confederation, Timothy Ingraham, would fix his mouth to lobby for the wealthy and not mention the least among us. Ingraham wants the government to ease up on businesses with more than $5m turnover to have audits completed by April.

In the government’s quest to recover some outstanding much-needed revenue, they have started an audit across the board or announced that one would be done on all businesses to determine who owes what and eventually recoup the outstanding monies.

We all know that the playing field has been unleveled for decades, and the wealthy have not paid their fair share, but sucked every dime out of the economy and solidified that the rich stay rich and the poor pay their way.

This practice has been going on for decades. The rich are given exemptions and fewer bank fees on money borrowed because they are on the boards.

National Insurance is a clear example because there is a limit on the salaries. People who make the most money are taxed less.

So this unconscionable position by the president of the Chamber only confirms to me what we all thought: the rich don’t want to pay but want to reap the harvest while the masses struggle.

I would be highly disappointed if the government agrees with the chamber and does not continue on course to have the audits completed by April next year and all outstanding taxes paid in full. Failing to continue as planned will only send a signal that the rich could get away with everything, and the poor get to experience hardships to pick up the slack.

We expect the rich to use threatening tactics to be exempted, like if they have to pay, they will lay off their employees.

This government must not blink, but move full steam ahead to ensure that all pay their way and that we, as Bahamians, feel safe and not be sacrificed on the altar of greed by the haves.

The Buddha said: “There’s no enemy outside our soul. The real enemies inside us are anger, ego, greed, and hate.”

IVOINE W INGRAHAM

Nassau,

December 13, 2023.

Comments

themessenger 1 year ago

Amen Buddha, Ivoine obviously has some anger issues……….and a not to clear understanding of the business issues involved with this.

Dawes 1 year ago

The letter writer seems to not understand the issues on this. The business community already has to have their revenue agreed by a licensed accountant. An audit will find nothing different then what was found before. It will however mean that every line item on a financial statement has to be agreed. None of those line items affect the revenue figure and what Government will make. This will not increase government revenue, all it will do is make businesses pay auditors more and also make the ease of doing business worse. Of course those bills the business has to pay the auditors will need to be raised from somewhere, so expect the continual increase in the cost of living to occur (I am not sure if the letter writer has worked out that the more it costs a business to provide an item, the more ty will charge for that item),

sheeprunner12 1 year ago

Bring the corporate tax and make ALL Bahamian businesses who declare more than $5million gross sales to pay the 15% corporate tax ...... and VAT.

The lil man is paying through every orifice in his daily fight for fiscal survival. Time for the big man to pay his FULL share.

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