Barbados Government Battling To Maintain Fiscal Discipline Despite Onslaught On The Integrity Of The Governor Of The Central Bank

Chris Sinckler, Minister of Finance

There is the saying in Barbados that if the USA catches a cold small open economies like Barbados will likely catch pneumonia. The US economy continues its long road to recovery which was precipitated by the 2008  financial collapse.  The protracted nature of this recession is the one feature which differentiates it from the others which a post-Independence Barbados has had to confront. Given the current structure of our economy, how the US goes, so too Barbados. It should therefore be of concern to Barbadians that Americans are becoming increasingly frustrated at the inability of their economy to ‘fire’ almost three years since the global economy went to hell in a hand basket, see The Trading Report – 10 Signs That The American People Are Starting To Freak Out About The Condition Of The Economy.

A disappointing aspect to some of the debate targeting government’s management of the economy, has been the scathing criticism of the Governor of the Central Bank Delisle Worrell Barbados Labour Party Opposition principals responsible for economic matters, Owen Arthur and Clyde Mascoll and others in the media.   There is nothing wrong with questioning the numbers but there must be a line drawn if it means the integrity of the Central Bank and agencies that supply statistics are being maligned. The Governor does not manufacturer the numbers delivered  in the Quarterly Reviews.  He explained in his last press conference that the Central Bank collaborates with several agencies to support its forecasts, the very same agencies used by the previous government.

To show how highly regarded the pronouncements coming from the Central Bank are viewed by,    Olga Kalinina, S&P’s director of sovereign ratings referred to the Central Bank’s recent economic review which was factored into S&P’s determination to maintain Barbados’ BBB-minus rating. She further concurred with the Governor’s forecast of a 2% growth for the current financial year. We also heard President of the BHTA Colin Jordan suggesting a 2% growth is possible if tourism performs reasonably well. Should these people be attacked as well by the opposition?

The upcoming Budget will be interesting because despite cries from Barbadians intoxicated by the good life of the boom years, Minister of Finance Chris Sinckler has signaled the government has to maintain fiscal discipline if we are to narrow the deficit and protect the foreign reserves. BU makes no apology by acknowledging that we are sympathetic to the government’s position at this time. Despite the prognostications of several local economists those at the helm of governments around the world are in uncharted economic waters. We need to stop politicizing the issues and work together to ensure Barbados survives this economic tsunami.

BU is satisfied the government is on the right track as it battles to curb expenditure, maintain employment, reduce the deficit and defend the dollar. Our information suggests that up to May 2011 government improved its revenue position over May 2010 by over 7%. The government’s challenge however will be cutting expenditure and although May 2011 over 2010 increased by over 3%, it would be emboldened that public sector wages and salaries decreased marginally. Overall the push to reduce the deficit is headed in the right direction albeit not at the rate BU would like to see with a marginal reduction in May 2011 over same period last year.  Current trend if carried over to June should give cause for hope.

No doubt Minister Chris Sinckler will build on the position which sees key indices trending in the right direction. The challenge will be to maintain fiscal discipline and at the same time build out a safety net to protect the  most vulnerable in the society. Through it all he will be cognizant that the US market to which our fortune is pegged remains sluggish as US legislators haggle about raising the debt ceiling to 16 trillion dollars.

0 thoughts on “Barbados Government Battling To Maintain Fiscal Discipline Despite Onslaught On The Integrity Of The Governor Of The Central Bank


  1. I trust Mr Sinckler will make the assumption that the USA will be in official recession by the end of Q1 2012 and at best very anemic growth. He would be well advised to assume that Italy and/or Spain will be in deep financial trouble over the next year or so, which would place Europe in turmoil.

    I certainly do NOT envy his task in this environment and given what was placed on his plate by others.( I am not a DLP supporter per se) I trust he has sought counsel from the very best and brightest economic/ financial brains available. This is the time to produce his very best concepts for creating the environment for job growth.


  2. which table are you using for these percentages? TABLEG1 – CENTRAL ADMINISTRATION – SUMMARY OF GOVERNMENT OPERATIONS shows that yoy may revenues are slight down less than 2%. if we think of the taxing of allowance, increase in excise tax and increase in vat there shouldn’t be a decrease in revenue. In the expense side we see a drastic drop of 50 million. I don’t know any program that would have lead to government saving of that much other than mass layoffs. As there is no report of mass layoff we must assume that some if not all of this reduction is due to the expense being put off to the next month, yoy according to the table revenues are down 6.5% and the expenses are down 2,89%. net fiscal balance without capital expenses has increased another 30 million from last year figure


  3. David Total Expenditure for April to May 2011 was $ 462.9 mil compared to $ 472.9 for April to May 2010, the unemployment rate is trending downwards as well and is lower in the last reporting period.

    This is a very well delivered document my congrats to you on it.

    The opposition will make very heavy weather of these numbers as left to them they would like to see Barbados and our people sink below the surface of the water and we all drown.


  4. David I am no economist, but my reading has included the works of Mark Twain whose famous remark that there are three kinds of lies: lies, damned lies and statistics always makes me question the ways the figures are used.

    I therefore found the Governor’s remark about the debt for the prison suspect. Not the figures themselves, but the way they were used.

    Next thing, there is nothing unusual or complimentary in ratings companies or international financiers like the IMF or World Bank relying on the figures published by the Central Bank. They have to get them from somewhere and they do so from Central Bank’s the world over. Our Central Bank has been a professional outfit for decades under four Governors before the incumbent.

    What I have noticed is that the present holder of the office has flip flopped on a number of pronouncements/predictions in recent months. This is understandable since Government’s economic policy seems to be failing, or at least not living up to expectations. My reading of press reports indicates that criticism of the Dr Worrell has hinged on the omission of information or the way it has been used. Are you saying that the Governor like Caesar’s wife is beyond reproach?

    I am uncertain how much comfort I, as an average citizen should take from your premise that “government is on the right track as it battles to curb expenditure, maintain employment, reduce the deficit and defend the dollar.” This Government is responsible for the huge deficit. It did not inherit it. Its a bit like asking a carpenter to replace the roof he put on that blew off in the first high wind. Would you?


    • @JforJerome

      If the attack on the Governor was only about style i.e. how he turns a phrase then the argument would be complete.

      The numbers offered by the Governor and his forecasts as a result of those numbers have been relentlessly attacked by Mascoll and Arthur.

      The point here is that the same agencies which the Central Bank has used to collaborate through the years remain in place today e.g. Barbados Statistical Department, Caribbean Tourism Research, The Accountant General etc.

      At the just concluded press conference the Governor was very deliberate to ‘beg’ journalists present to probe any number they wanted, the rest as they say is history.


  5. Arthur and Mascol are doing what they do best. Offer nothing of any consequence but criticise everything every chance they get.

    They have simply replaced David Thompson with the Central Bank Governor.


  6. As the former governor of the central bank, Courtney Blackman once said, “the governor of the central bank is a creature of the Prime Minister.” That accepted irrespective of which party is in governance, the governor always shows a bias toward that party be it D or B, therefore I accept with a pinch of salt , their mouthins, I always take a queue from the average man/woman and see how the country is progressing or nor. Ijust like I leave the Biblical discussions with the theologians, I leave the fiscal discussions with the economists, I just focus on how the conditions effect the average and “man in the street” barbadian.


  7. @David

    You are correct they are going after him with some vigour.I can’t remember any previous Governor of the Central Bank being attacked this relentlessly by the political class. When Owen fired one of his predecessors we were never given an official reason (Owen giveth and Owen taketh away).

    Stuart, Sinckler, Boyce et al are all fair game that is the nature of politics but simply being critical because the pronouncements about the economy are not in keeping with a particular script is disingenuous (economics is not an exact science, if you put 100 economists in a room and present each with the same vexing issue on the economy you’ll probably get 150 different solutions).

    I think that there is a method to this madness, Owen & Co. wants to politicise the position, in effect the incumbent holding the reins of Gov.of the Central Bank will be seen as an extension of the Government and if the BLP regains power they can appoint a known Party stalwart to the position and no one will bat an eye.

    Does the name Clyde Mascoll ring a bell?


  8. This Government is responsible for the huge deficit. It did not inherit it.

    This is utter Hog Wash, this gov’t did not build a US $ 300 mil hotel at Dodds nor did the commit to doing road works without signed contracts nor did they give Mascoll nearly $ 5 mil in Hardwood Housing scam, for changing political sides and joining the blp, nor did the DLP have any part in the run away COST OVER RUNS IN EVERY PROJECT UNDERTAKEN BY THE BLP DURING ITS LAST 10 YEARS IN OFFICE TO THE TUNE OF $ 750 Mil this does add a burden to our debt component, these are but some of the dishonest and poor decisions made by a former blp gov’t that we are paying for today.


  9. what was the fiscal deficit when the DLP took up power? What is it now? Who was responsible for it between 2008 and now?


  10. So Scout you think that the views of the “man in the street”, from whom you take your CUE, are not coloured by partisan political views?


  11. Being an ordinary working class Bajan, a lot of the economic debate goes over my head. That said, my main concern is the ability of Barbados to provide job opportunities for its people, in particular its young people. The Government recently announced a Human Resource Strategy policy but to be honest it just seems like a lot of words to me. In my simple thinking one problem of Barbados is that we consume more than we produce and much of what we consume comes from outside of Barbados. I have read that Minister Sinckler thinks that there must be restructuring of the Barbados economy. I am not sure what he means but if it means reducing our dependence on a few sectors and producing more of what we consume then I am all in agreement with this objective. So to tie this objective with the objective of reducing unemployment brings me back to the human resource development concern. I think that Barbados should not only promote a “Buy Bajan” campaign, there should be a web of incentives to produce more goods locally and disincentives to buying goods from outside of Barbados. Such a programme should be tied in with the enhancement of the skills capability of Bajans. To this end I believe that we should promote an apprenticeship system which would operate in conjunction with educational institutions. Germany has a model of such a system which can provide some ideas for a Bajan model. See http://www.bbc.co.uk/news/14185334

    This is not an original idea on my part. Many years ago then Prime Minister Sandiford attempted to introduce tax incentives to businesses that would not only increase their number of employees but would also engage in training of these workers. I am not sure how successful this initiative was but we should revisit this idea.


  12. Another reason to keep an eye on the USA:

    Featured|July 20, 2011 8:25 am
    Drought Of 2011: The Southern United States Is Desperate For Rain As The Middle Part Of The Country Continues To Get Scorched
    2011 sure has been a wild year for America so far.  First we had unprecedented tornado outbreaks, then we had horrific flooding along the Mississippi and Missouri rivers, then we had record setting wildfires and now we are facing a crippling drought all over the southern United States.  From Arizona all the way to Georgia there are vast areas that have been declared to be experiencing “exceptional drought” by the National Weather Service.  Crop failures are widespread and ranchers are having a very difficult time trying to feed their cattle.  If the southern United States does not receive a significant amount of rain soon, the drought of 2011 is going to be one of biggest natural disasters that we have seen in a long, long time.
    http://www.thetradingreport.com/2011/07/20/drought-of-2011-the-southern-united-states-is-desperate-for-rain-as-the-middle-part-of-the-country-continues-to-get-scorched/


  13. @ Just Thinking About It
    Clearly you are NOT thinking. The fiscal deficit refers to the current account not debt as cited in your examples. But hey if it makes you feel better to point a finger in the other direction go right ahead. I hope Chris gives you back your allowances in August, if you pay taxes that is. I am looking forward to getting back mine.


  14. JforJerome re. post of July 20, 2011 at 9:34 PM;

    Mea Culpa. It was not “Just thinking about it” that brought up the term “fiscal deficit”. It was me. I was’nt thinking, just typing.


  15. @Moneybrain,

    True words well said. BUT on the last point I think you get a bit of wishful thinking ‘ very best concepts for creating the environment for job growth’.

    Yes, I agree on looking for the best concepts for looking at the way forward and keeping our society and economy going.

    BUT, it is becoming so apparent that the USA is in deep trouble economically, the extended recession is about to go into further shock which will be a lot to bear.

    Plus, as you say, Europe is in a mess, better hope Italy and Spain do not get worse, this would result in a horrid amount of contagion, as the large European banks are VERY exposed, thus the financial markets would take a hammering, possibly resulting in a major European financial restructuring.

    Never fear though, I expect the ‘major world players and behind the scene brokers’ to engineer the Third World War, to take our minds off this, retake control of the Middle East and eliminate portions of populations.

    Postwar rebuilding will be expected to refuel and reenergise the major economies.

    Think this is far-fetched?

    Watch and see. Why you think for a while some of us here have preached food security, relying on our own devices etc….

    What a time….you think the world plane hit turbulence already….you aint seen nothing yet.


  16. Did anyone rembember that it was the said owen who bypassed the current of the Central Bank and appointed his preferred choice to manage the said bank.

    Perhaps owen is so offeneded that the gentlemen became Govenor that he is continuing his hatred towards him.


  17. jack spratt
    My getting a feel of the man in the street is not their partisan ideas but a general understanding of how their day to day living has been impacted, mainly the old and the poor in our society. The rich will just modify their livestyle a bit but the old and the poor are most times on the verge of poverty but these are the ones who laid the foundation for many of our “big shots” to be living the life they now live and with little regard for those who chartered the course for them. I’m not talking just about politicians but doctors, lawyers, managers, directors etc who have made it because of free education introduced by Errol Barrow back in the early 60’s in the era of the “baby boomers.” Today many of these highflyers are ashame to return to the little village they came from or even to tell their children about their childhood days. It is from these villages that I return and get a grasp of their living standards that then allows me to see how a country is doing.


  18. jack spratt
    Even on this blog, I suspect that many of those who would come here and spout their academic skills are willing or even go back to their roots and try to uplift the standard of the little village or neighbour they came from. Yes, the government has much work to do but I’m convinced that if some of these persons who have excelled would go back and mingle with their youth and the old in their former childhood areas, less fortunate ones their will have a mentor to emulate


  19. I personally know a Barbadian veterinarian who qualified overseas, in the UK. when he returned qualified, in the UK of all places, when seeking employment at Government agencies, he was told that the other vets told Govenment that there were enough vets and no room for more.

    He left and has done well overseas.

    Just as in many major corporations here, if you don’t ‘know a man’, no matter how well qualified you are, the best jobs go to certain people, certain ones get the promotions.

    Barbados has been for a long time and remains a ‘closed shop’, with only the international corporations (who play their own closed shop game, look who always heads them) do their own thing.

    That is it, plain and simple.


  20. Seems to me David that the opposition of Jerome Walcott and Kerry Simmons have no appetite for this topic as it exposes them for being what they are bold faced liars.


  21. mr scout, errol barrow did not introduce free education; he expanded the concept of free education. thousands of children were accessing free education at st leonards, west st joseph, princess margaret and other newer secondary schools as they were called then.


  22. balance
    I will not argue with you on that one, what i know is that “free education” was giving to ALL students entering secondary school back in 1961. I CAN ATTEST TO THAT BECAUSE I WAS ONE OF THE RECIPIENTS OF THE SYSTEM. My parents had paid the frist term’s fee at the secondary school I attened but was later refunded when the DLP won the government. They are many many persons who have made it BIG in this country, who might have been just an average citizen if “free education” for all was not
    introduced.


  23. jerome, i think your comments re- the learned Governor of the Central Bank do have some merit but i hope that they have not been delivered with a partisan pen.for one to suggest that the governor because of his office is beyond reproach is astounding to say the least considering that this forum promotes unbridled criticism of unpopular politicians and other persons holding high positions day after day depending on one’s political persuasion. This Governor moreso than the others has brought the independence of the office under scrutiny by his seemingly skewed pronouncements on the performance of the economy which have constantly left him open to challenge from those who are as qualified as the Governor to comment or pass judgment. So he has no one to blame but himself. Moreover, he is not the first Governor and i am sure will not be the last by virtue of the nature of the post held to receive criticism from the political arena. Matter of fact the most vicious tongue-lashing ever perpetrated on a Governor was delivered by M r Barrow on then Governor Mr Courtenay Blackman in the first session of the 1986-91 parliamentary debates on a resolution for the approval of a loan to be raised by a private issue in Japan and i quote from Hansard, the official organ of the House of Assembly. Hear Mr Barrow ” i do not agree that that the Minister of Finance should go to Japan, but he is going. I think that the Governor of the Central bank should go alone, because it would have to be due to his bad advice and i am not going to participate in this business of sheltering people who have sold this island down the river. It would have to be due to his bad advice, or to his lack of basic manhood, if he gave good advice in failing to resign from the position which he is larging off with, in a structure which is bigger than Buckingham Palace, that we find ourselves in this predicament. we are representatives of people not Central Bankers and i hope i am able to prevail on the Monister of Finance to let him go out there alone and get the money and not be associated with him in any exercise like this.”


  24. scout , my understanding is that free education for all was available with the introduction of the newer secondary schools. after 1961, fees were abolished for attendance at the older secondary schools like harrison college.


  25. balance
    Like I said, I’m not going to argue that point since I’m not sure about the older secondary school, then known as the comprehensive schools. What I do know and heard from my parents and others, is that Grantley Adams was asked by Errol Barrow, who was then a member of the BLP, to offer “free education” to all barbadian citizens’ children. It is alleged that Adams was afraid to do that because the children of agricultural workers would be academically educated and there would be no-one left to cut the canes.I understand that this among other things is what caused Barrow in the late 50’s to break away and along with others started the DLP, when the BLP was swept out of office in 1961, onew of the first thing Barrow did was to pass the act to allow “free education” to barbadian children. I was among the first batch who recieved that gift.


  26. In my humble opinion a lot of the criticism of governments handling of the economy and the CB govs reporting of it can be put aside if the government and the CB chief just laid out the options available to the country for managing the economy effectively, and let the wider population see that they are in a tight corner without much wiggle room. This foolish pride we have and belief in the greater intelligence of others is hindering us from obtaining fresh ideas and realising the limitations that exist within the present system.

    Some clowns prefer to say that we pay these people to do a job so why should we give them any ideas about how to do it?

    That is like the labourer that sees the cement is about to run out on the project and says its not my job to tell the boss. We need to recognise that government is US and stop giving away our power to people that are no smarter than the majority of us. We must see that when the ‘cement runs out” we will not have any work/income.

    Without sending anybody home we need to re allocate resources and stop putting tens of thousands of dollars a month into non financially productive sectors of government, like the NCC. We can take that human capital and all the fuel, equipment and experience and re allocate it into agriculture as labour and equipment on existing farms for food production.

    The workers would have the same conditions of employment both environmentally and physically, yet placed within agriculture those resources now become financially beneficial. They can save foreign exchange, through reducing the food import bill and potentially earn foreign currency by assisting in harvesting all the fruits that are now dropping out of our trees.

    Another financial hole is our prison system, feeding, clothing, offering all types of medical and paying light and water bills to keep 800 strong young men and women in a secure environment, must be sapping some tax dollars.

    Put those prisoners that volunteer (in return for reduced time) on work programs to take up the slack of the re allocated NCC workers. Let this be their rehabilitation program, learning a work ethic and giving something back to the society they have maligned. The prisoner will feel better for it, the taxpayer will feel better for it and the economy will benefit.

    Take some of the soldiers that are paid from the public purse to act as guards for these out door prison work crews.

    It is called shifting resources.

    Peace.


  27. checkitout, the balance on current account at 2006 was $407,329,200; $309,154,800 at 2007; $422,561,300 at 2008; $301,932.300 at 2009. according to the preliminary overview of the Economies of the Caribbean and Latin america (2009), in terms of public finance, the accumulated fiscal deficit increased during the first half of 2009 to 5.7% of GDP, representing a worsening of the Fiscal position from the end of 2008, when the deficit was equivalent to 3.5 5 of GDP.


  28. No need for any long discourse,I question the credibility of the central bank govenor given his known close association to the DLP.


  29. in local politics all kinds of stories posturing as truthful but nothing more than speculative are have beenand are bandied about to the credit osr discredit of whichever political party one likes.what the dlp did after 1961 was to make access to the older secondary schools free of cost benefittiing rich and poor alike but access to free secondary education was available prior to 1961 at the newer secondary schools. read leonard shorey’s comments on the issue for enlightenment.


  30. July 24, 2011 7:21 pm
    Markets warning over US debt
    By Alan Beattie in Washington
    The White House clashed again on Sunday with congressional Republicans over a plan to raise the federal debt ceiling, even as both sides acknowledged that failure to agree could rock global financial markets this week.
    “We may have a few stressful days coming up – stressful for the markets of the world and the American people,’’ Bill Daley, White House chief of staff, told CBS on Sunday.


  31. It is the same all over the world!

    Charley Reese’s Final column!

    Charley Reese’s final column for the  Orlando  Sentinel…He has been a journalist for 49 years.He is retiring and this is HIS LAST COLUMN.Be sure to read the Tax List at the end.This is about as clear and easy to understand as it can be. The article below is completely neutral, neither anti-republican or democrat. Charlie Reese, a retired reporter for the Orlando Sentinel, has hit the nail directly on the head, defining clearly who it is that in the final analysis must assume responsibility for the judgments made that impact each one of us every day. It’s a short but good read. Worth the time. Worth remembering!545 vs. 300,000,000 People-By Charlie ReesePoliticians are the only people in the world who create problems and then campaign against them.Have you ever wondered, if both the Democrats and the Republicans are against deficits, WHY do we have deficits?Have you ever wondered, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes?You and I don’t propose a federal budget. The President does.You and I don’t have the Constitutional authority to vote on appropriations. The House of Representatives does.You and I don’t write the tax code, Congress does.You and I don’t set fiscal policy, Congress does.You and I don’t control monetary policy, the Federal Reserve Bank does.One hundred senators, 435 congressmen, one President, and nine Supreme Court justices equates to 545 human beings out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country.I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered, but private, central bank.I excluded all the special interests and lobbyists for a sound reason. They have no legal authority. They have no ability to coerce a senator, a congressman, or a President to do one cotton-picking thing. I don’t care if they offer a politician $1 million dollars in cash. The politician has the power to accept or reject it. No matter what the lobbyist promises, it is the legislator’s responsibility to determine how he votes.Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party.What separates a politician from a normal human being is an excessive amount of gall. No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits. The President can only propose a budget. He cannot force the Congress to accept it.The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes. Who is the speaker of the House? John Boehner. He is the leader of the majority party. He and fellow House members, not the President, can approve any budget they want. If the President vetoes it, they can pass it over his veto if they agree to.It seems inconceivable to me that a nation of 300 million cannot replace 545 people who stand convicted — by present facts — of incompetence and irresponsibility. I can’t think of a single domestic problem that is not traceable directly to those 545 people. When you fully grasp the plain truth that 545 people exercise the power of the federal government, then it must follow that what exists is what they want to exist.If the tax code is unfair, it’s because they want it unfair.If the budget is in the red, it’s because they want it in the red.If the Army & Marines are in  Iraq  and  Afghanistan  it’s because they want them in  Iraq  and  Afghanistan  …If they do not receive social security but are on an elite retirement plan not available to the people, it’s because they want it that way.There are no insoluble government problems.Do not let these 545 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like “the economy,” “inflation,” or “politics” that prevent them from doing what they take an oath to do.Those 545 people, and they alone, are responsible.They, and they alone, have the power.They, and they alone, should be held accountable by the people who are their bosses.Provided the voters have the gumption to manage their own employees…We should vote all of them out of office and clean up their mess!Charlie Reese is a former columnist of the Orlando Sentinel Newspaper.What you do with this article now that you have read it… is up to you.This might be funny if it weren’t so true.Be sure to read all the way to the end:Tax his land,Tax his bed,Tax the table,At which he’s fed.Tax his tractor,Tax his mule,Teach him taxesAre the rule.Tax his work,Tax his pay,He works forpeanuts anyway!Tax his cow,Tax his goat,Tax his pants,Tax his coat.Tax his ties,Tax his shirt,Tax his work,Tax his dirt.Tax his tobacco,Tax his drink,Tax him if heTries to think.Tax his cigars,Tax his beers,If he criesTax his tears.Tax his car,Tax his gas,Find other waysTo tax his ass.Tax all he hasThen let him knowThat you won’t be doneTill he has no dough.When he screams and hollers;Then tax him some more,Tax him tillHe’s good and sore.Then tax his coffin,Tax his grave,Tax the sod inWhich he’s laid…Put these wordsUpon his tomb,’Taxes drove meto my doom…’When he’s gone,Do not relax,Its time to applyThe inheritance tax.Accounts Receivable TaxBuilding Permit TaxCDL license TaxCigarette TaxCorporate Income TaxDog License TaxExcise TaxesFederal Income TaxFederal Unemployment Tax (FUTA)Fishing License TaxFood License TaxFuel Permit TaxGasoline Tax (currently 44.75 cents per gallon)Gross Receipts TaxHunting License TaxInheritance TaxInventory TaxIRS Interest Charges IRS Penalties (tax on top of tax)Liquor TaxLuxury TaxesMarriage License TaxMedicare TaxPersonal Property TaxProperty TaxReal Estate TaxService Charge TaxSocial Security TaxRoad Usage TaxRecreational Vehicle TaxSales TaxSchool TaxState Income TaxState Unemployment Tax (SUTA)Telephone Federal Excise TaxTelephone Federal Universal Service Fee TaxTelephone Federal, State and Local Surcharge TaxesTelephone Minimum Usage Surcharge TaxTelephone Recurring and Nonrecurring Charges TaxTelephone   State  and Local TaxTelephone Usage Charge TaxUtility TaxesVehicle License Registration TaxVehicle Sales TaxWatercraft Registration TaxWell Permit TaxWorkers Compensation TaxSTILL THINK THIS IS FUNNY?Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world.We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.What in the heck happened? Can you spell ‘politicians?’I hope this goes around THE USA at least 545 times!!! YOU can help it get there!!!GO AHEAD. . . BE AN AMERICAN!!!


  32. Back to Bim.

    Anyone heard Chris Sinckler tonight on how well the economy has been doing between April and June?

    Seems like the Central Bank Governor was a bit premature in some of his statistics and conclusions given in his 6 month review of the economy.


    • @checkit-out

      The numbers which Sinckler referred to up to June conflicts with what Arthur was suggesting.


  33. Carson
    I am supporting the government on the gallant effort they have made to keep the Barbados economy from crashing as predicted by Owen Arthur and Clyde “the best economist” Mascoll but I think they would be ashamed of your writings as a DLP supporter.
    We are an educated people and will not let that ignorance you wrote above side track us.
    Although the money class is not in Parliament, they control the economy of Barbados and have the black politicians in their grip that is why we need IL and FOI legislation.
    Carson remember Hallam Nicholls and all the other BLP people that you said were milking the tax payers and getting rich. Are you now supporting that behavior by saying that black people should get rich off the tax payers because they are black?

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