by Rick Lowe
Yet another bill will be presented to Parliament this week where the general public and business community will not be allowed comment until after the fact.
In typical fashion the government is crafting amendments to the National Insurance Act so they can offer unemployment insurance to Bahamians.
One might believe it is magnanimous of the government to offer this programme, but even I would be a hero if I could pass laws to take money from one person under the threat of fines or jail time and give it to someone else.
Even though I understand the draft bills are being "kept out of the public domain" somehow copies were delivered to me, so here's my observations after a quick read:
1. Computer payroll systems will have to be changed to accommodate this.
2. As usual the Minister is king. The Minister can extend the period at his discretion. Of course that is not emphasised or discussed in the public discourse to date.
3. More forms will be required when an employee is dismissed with a fine of $200 a day until they receive them.
4. This represents a tax increase at the worst possible time, without a corresponding decrease to compensate.
5. Like the National Insurance government mandated Ponzi scheme, it will go bust as all these programmes tend to do.
6. With all the best intentions of the political class, abuse will become ingrained in the system that honest tax paying Bahamians will have to fund.
All in all, it emphasises the Socialist tendencies of our government.
If history has proven one thing it is that Socialism is a pipe dream and this puts The Bahamas firmly on the road to becoming another failed Socialist state.
Give me Capitalism, warts and all, any day.
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