Fiscal and tax reform need to be done together or Bahamians will be no better off at the end of the day as only more tax policies will follow. Not to mention more downgrading etc when revenue targets are not met as a result of the deficit spending and the possible negative economic impact of VAT.
Look at most of our neighbours, including the US.
The evidence of success of decades of spending deficits and borrowing in relation to improving the lot of most Bahamians is very limited. And I'm not referring to the lack of handouts. I think they are a dangerous policy for any government.
But, look at education for starters and the billions of dollars that have been pumped into it for the results our people are getting.
The list goes on and on.
I contend, we are being given more pottage - sold a bill of goods - with this VAT discussion to date. Much of what we're being told is disingenuous.
Without economic growth, jobs just do not happen. And continual roadblocks to legitimate business and taxing them beyond their ability to pay does not help with economic growth.
Tax reform, without spending reform is folly.
It all saddens me for future generations.