YEEEEEEESSSSS !!!!!

“I am simply saying that when people in 2016 are getting an income tax relief of $600,000 they’re being short-changed, because that is less than half of what it was in January 1980 in real terms,” (Bruce Golding).

The econ­o­mist and for­mer Prime Minister was address­ing media ques­tions regard­ing whether it was doable or prac­ti­cal to allow work­ers to go home with­out pay­ing any income tax if they earn under $1.5 mil­lion annually.
However Golding said :  The mea­sure has to be imple­ment­ed in such a way that there are no anom­alies. “You can’t have some­body tak­ing home less pay because he earns more mon­ey than some­body else. Wherever that might arise, mar­gin­al relief has to be pro­vid­ed, or else nobody is going to want to be pro­mot­ed, nobody is going to want to do any over­time. But it can be done. It’s done in var­i­ous countries,”.

Golding said he thought peo­ple prob­a­bly over­stat­ed the extent of the Opposition’s offer to work­ers as there was only a mar­gin­al amount of work­ers who fall with­in that win­dow.  If I’m unem­ployed, or I do hus­tling, or I’m already earn­ing less than $500,000, then it real­ly meant noth­ing to me. So it was just those per­sons in that brack­et ($1.5 mil­lion annu­al­ly), among whom it would have had some impact,” he said. “$1.5 mil­lion tax free is not as extrav­a­gant as it sounds, or as peo­ple have made it out to be,”.

Golding spoke to the notion that the plan was extrav­a­gant using the sci­ence of num­bers to make the point that work­ers who fell in the dis­cussed brack­et were actu­al­ly being short­changed in terms of the relief they received. This is the crit­i­cal brack­et which include Teachers, nurs­es, police offi­cers, fire­men , mem­bers of the mil­i­tary and others.
“I am sim­ply say­ing that when peo­ple in 2016 are get­ting an income tax relief of $600,000 they’re being short-changed, because that is less than half of what it was in January 1980 in real terms,”.

Most of all I thought Bruce Golding nailed his argu­ment by say­ing this. The fact of the mat­ter is, if peo­ple are tak­ing home more mon­ey, most of that mon­ey, if not all of it, is going to be spent, which means that there’s a GCT component”.

Here’s the crit­i­cal para­graph that this hum­ble writer has been ham­mer­ing home for four years.

This will have a sig­nif­i­cant impact on the econ­o­my by stim­u­lat­ing mar­ket activ­i­ty. “If peo­ple can’t spend mon­ey, investors are not going to invest, because what’s the point of invest­ing if there is no mon­ey to buy the prod­uct,” he said, adding that with­out that cir­cu­la­tion of mon­ey, jobs will not be cre­at­ed. “So it’s an impor­tant part of the eco­nom­ic dynam­ics that I think the PNP Government didn’t ful­ly appreciate,”.

YEEEEEEESSSSS !!!!!
I HAVE BEEN SHOUTING THIS FOR YEARS, THAT IS SIMPLY HOW A MARKET ECONOMY WORK.

What is so hard to understand?

But an admin­is­tra­tion can­not make it work if it does­n’t under­stand the basic fun­da­men­tals of how the mar­ket work with­out Government control.
The mar­ket takes care of itself but the People’s National Party was nev­er privy to this sim­ple con­cept . The PNP came from a phi­los­o­phy of State con­trol of every­thing includ­ing the econ­o­my . Al la Venezuela, Cuba, Nicaragua etal.
Even the com­mu­nist Bastion China as well as Russia have tak­en sig­nif­i­cant steps to ease their Government con­trolled economies into 21^st cen­tu­ry mar­ket dri­ven economies with mea­sur­able pos­i­tive effect.