Welcome to the newly Finsac'd/taxed

Tuesday, April 29, 2014    

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Dear Editor,

We read and listened with very mixed emotions the varied comments on the Ministry of Finance's plans for new taxes to fill gaps/caverns in his 2014/2015 budget.

W, however, have not heard a single mention of the word Finsac, that which has lead the country to the economic state it enjoys today — a state of mendicancy brought on by its incompetent leaders. It's as if that word Finsac has been forbidden or forgotten.

We, the over 40,000 businesses that got Finsac'd in 1990s, were not fortunate enough to be taxed so we could opt to use or not use our credit debit cards. No options were given to us. Our bank accounts, including but not limited to chequing accounts, escrow accounts and all assets (properties, cash funds, etc) were used and misused and swept away into foreign oblivion.

We were, and still have been, unable to recoup any funds and/or assets to this day. No one has explained to us, only a notice by a foreign entity claiming that our properties are about to or have been disposed of and all proceeds dispatched to foreign lands.

Today, under the same government, most of the original Finsac'can no longer afford credit/debit cards. Most of us do not even have a bank account, so fortunately — or unfortunately depending on whether you're standing in Dr Phillips' shoes — we may be exempt from these new taxes. We have very little to contribute to Dr Phillips' 'hold down tek weh' trough.

So we now say to the rest of Jamaica, "welcome to the lifestyle of the poor and Finsac'd. Dr. Phillips has given new meaning to the term "disposable income". Should you need some survival guides on staying alive without the luxury of food, even water at times, a home, a job, a business, all without the use of a deadly weapon, please call us toll-free and tax-free at 1-800-fin-sacd. You have now become the new FINancial SACrificeD.

The moral of this story to the newly Finsac'd: We played by the rules, we got shafted. You continued playing by the rules, now you're getting shafted. As Dr Phillips continues to play by the IMF rules, he will soon get shafted.

Yola Gray Baker






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