Budget’s sixty million dollar hole subject to Cabinet scrutiny
Dean Barrow
The sixty million dollar projected deficit for the budget for the next fiscal year, as heard from the lips of Prime Minister Dean Barrow on Wednesday, continues to resonate in all sectors. When he was asked how the sixty million dollar deficit would be bridged, the PM’s coy response was that he didn’t want to pre-empt Cabinet’s discussion of this matter and that he would wait until next Tuesday to see what “shafts of brilliance” his colleagues would come up with. Reports from well-placed government sources say that those shafts of brilliance may end up being Belizeans getting shafted with new taxes. With a budget deficit of sixty million dollars representing two percent of GDP, cutting of expenditure will not be enough and it is likely that what will follow is increased taxes in those sectors deemed to be able give up just a little bit more. We’ll find out on Tuesday if those shafts of whatever kind will be coming out of Cabinet.
Oh yeah, taxes!!!!! Thats the most brilliant they can go. Why don’t they tax big businesses more? Businesses have a threshold of 75,000 and pay only 1.75% of tax. What is the matter with our leaders? Don;t you all think on the poor and those struggling to go to school everyday??? If more taxes are put in place, things will only get worse because our salaries won’t go up..will they????
Instead of taxing the poor to death(literally- poe people do not even have enough to buy the stable requirements for a healthy meal) the Gov. could consider taxing the following, 1. A special tax levied on all Foreign Merchants, especially the ones who are killing out all the Moms and Pops store throughout the nation, we know who they are. (2) Triple the current tax being charged to any Casino or Legalized Gambling institutions, have them contribute to the overall economy by writing into their contracts, that they have to build schools or hospitals..they are raping us with our eyes wide open. (3) Foreigners buying properties in Belize should be taxed at a much higher percentage than Belizean Nationals. (4) NATIONALIZE THE OIL COMPANIES, and build a refinery to become self sufficient, we are giving away our most precious natural
resource and our ticket out of poverty . Build a world class National Stadium, that will generate
pride and International Respect for our Nation and athletes and provide jobs for our economy.
Vigorously Market Belize as a Business destination for International companies seeking a destination other than their own country for reasons of Economic Relief, we are an intelligent nation just waiting for the right party or leaders to lead us into the future. Last but not least for every gun or Military Assistance (disguised as training) offered to the country by any so called Big Brother Nation demand that they offer educational scholarships (not Military training) in their country of equal dollar value for our College age youths. I could continue but these are just some ideas that could and should at the very least generate discussion or action.
See, this is the same crap we talk about time and time again. These guys are busy buying themselves new prados every year and using the tax payers money to take care of their own pleasures and send their children to University of Tampa and all other rediculously expensive school at $30,000 US per year while the Belizeans keep getting poor, suffer and have to pay for it. I am not one to encourage expatriation, but this is exactly why people flee Belize: Corruption, inconsistent, incompetent and dishonest governing. This is why Belizeans leave and will continue to leave. But some day we will have good leaders. Hopefully soon.
So far I have read two good ideas
1) Tax foreigners that are buy property in Belize
2) Tax any business making above $75,000
3) What taxing alcohol and cigarettes (we get taxes money and reduces alcohol abuse..ect
Let me tell you the foreigners are the one’s that bring jobs through their investments and also
pays their Social Secrurity. They add a minumum of five figures to the economy. You should be
glad the Americans are living here. You forget all the contributions that are given free to the Belizean
Government from medical supplies and equipment to the Coast Guard etc.
You can kill the Goose that lay’s the golden egg.
Taxing people more is definitely not the solution. The reality is that Government needs to create more jobs and to this is they need to attract foreign investors and regulate them properly. I totally disagree with taxing the casinos more because the casinos already pay a 8% tax and employ over 500 Belizeans here in the north. If it wasn’t for the casinos these people would not have a job. Any good economist can tell you that when a country is going through a recession the worst thing to do is to increase taxes.
[…] would raise a host of other taxes on businesses and wealthy individuals. The budget proposal …Budget's sixty million dollar hole subject to Cabinet …Reports from well-placed government sources say that those shafts of brilliance may end up being […]