Taxes. Bey what are we even doing? (An annoyed rant)
So as we all know the elections have gone by I've gotta ask does anyone here look at tax policy when making these decisions? We have arguably the most regressive form of taxation on the planet and no one seems to really care? Our means of taxation literally bleed the people dry the new intended system is a form of income tax vs the VAT tax how is that supposed to be any better?
People who's lives are becoming more precarious still spend most of their money on goods and housing moving to the income tax model doesn't actually solve anything here, VAT sucks but people also don't make enough income that taxing them there will be of benefit either. The Bahamas' financial assets are estimated at 12 billion in local funds while the foreign assets within the nation are estimated at a whopping 108 billion. Literally almost an order of magnitude difference. That is to say that we don't have any form of financial dividends coming in from the vast majority of the money in the nation. Why do we keep trying to bleed the stone?
We clearly need to be looking at capital gains taxes and corporate taxes if we want to be able to afford our infrastructure repairs and anything even resembling public services that actually function. I know capital flight is the big worry here but here's my thing: if there isn't any value being generated by the capital that's already here what's the real difference? There's only 350k people. 1% taxation on that foreign capital would literally almost double the amount of wealth that could be used for the average person over the course of a decade.
If cruise ship companies and resorts aren't paying into the public coffers that makes them nothing but very flashy vampires. I'm sorry If this feels like it's out of no where but I'm getting sick of watching us fail to meet the moment.