Submitted by Old Onion Bags
How many of you had any extra money to spend on gifts this Christmas? I bet most of you (if honest like me) would agree, ‘tings were tight, tight. Over taxation, high food and gasoline prices had people ‘pun lock.’
How much longer can we continue this way though? Better believe me when I say Bajans are overly TAXED nowadays. People all over Barbados need some reprieve Mr. Sinclair (not more taxes as you have hinted). How much longer can they take these draconian measures and not fall through the social net? They need relief and they need it like yesterday. A voice hollering in the wilderness….dun know.
What is the sense of being able to boast of cutting the deficit by a mere 6% and the country’s people are suffering like hell? Jobs a thing of the past, who working, doing so with fear shivering, peoples’ children who worked hard to achieve university status, now left with a broken dreams, ( EWB recently emptied promise).
Mr. Sinclair, you are on video boasting in Parliament of the tough times our generation has been through and of how it makes for character. Yes sir Mr. Minister we agree, but are you not forgetting… back in those days you could beg for a breadfruit….a turnover was for 5c….you could eat food at the neighbors’ and\or find a job if you wanted one. Times have changed sir … they have obviously become harder. What WAS in those days, won’t cut it today.
By taking so much money out of the economy in the forms of increased taxation and surcharge on fuel, the money supply has decreased. The money multiplier effect has thereby waned as a result, and there are less dollars to be circulated and personal savings are being withdrawn from the banks. For those so interested….. money creation is the process by which the money supply of a country is changed. There are two principal stages of money creation. First, a central bank introduces new money into the economy termed expansionary monetary policy…. by purchasing financial assets or lending money to financial institutions. Secondly, the new money introduced by the central bank is multiplied by commercial banks through fractional reserve banking; this expands the amount of broad money (i.e. cash plus demand deposits) in the economy so that it is a multiple (known as the money multiplier) of the amount originally created by the central bank.
Mr.Sinckler, with this government’s so called mid-term fiscal policy, you all have successfully choked up the country’s monetary plumbing real good. Disposable income has dried up and money is no longer flowing down. The system needs an enema, and real fast….to releases some frustrations and anxieties the hard working and unemployed people are left to bear.
With this administration having just another two years, how many more taxes do you plan to implement? A new on-coming cell phone tax promised of 22% in 2016, one wonders what next… a bedroom tax maybe?