GilbertM

Abaco, Bahamas

1 Vote

Gadfly 11 years, 10 months ago on Web shops: Technology puts us outside law

Web shops: Technology puts us outside law

Professor Morris, this is a very interesting observation and one with which I fully concur. A direct corollary of this potential commercialization is a regressive taxation regime on the many to redistribute wealth to the few. What appears to be economic activity and benefits from gaming are merely the by-products of having wealth concentrated in the hands of a few individuals. These activities detract from a sustainable economic development plan and offer little to no inter-industry linkages or sustainable economic growth. As a matter of fact, if the estimated $400 million dollars per annum that is spent gambling were to be re-directed to savings by Bahamians, or even half that amount, in ten years the Bahamas would be a formidable economic force in this region. This increased savings would allow broader and deeper investments by Bahamian businesses in our economy. It would jump-start, broaden and deepen our capital markets thereby facilitating wider share ownership. It would also unleash our entrepreneurial spirits, stimulate small business growth and spur sustainable job creation that can keep pace with students entering the work force every year. Yet, instead of attempting to educate us about our potential, our politicians are too busy trying to enrich themselves and their friends, while they try to make us believe that it’s the bogeyman that is keeping us from our true potential.