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The Money Tree

Submitted by Anonymous on Mon, 08/31/2009 - 19:46

As everyone talks about more taxes for the average person in Cayman, have we forgotten all the Hedge Funds that use the Cayman Islands for there own needs . Let introduce a tax of .0010% yes just a tenth of one percent on all money moved thru any financial institution in the Cayman Isands. A recent report by Michael Alberga published 22nd July 09 put the amount at US$1.8 trillion (1,800,000,000,000.00) as of June 07. We could rebuild the whole country. I know all the Lawyers and Accountants would be up in arms, a tax on Hedge Funds, they would all leave. I dont think so, they could just reduce there own excesive fees. Well just a thought. Forget proprty taxes, yes the wealthy can afford them but not the average person, it will just increases the cost of living and we would need to expand government yet again.

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Comments

The only people need taxing

Submitted by Anonymous (not verified) on Tue, 08/03/2010 - 13:04.

The only people need taxing here is the one's earning incredulous amounts of money themselves, and spending incredulous amounts of money from the public purse.  If they won't take a 30% pay-cut then lets tax all the chief CS cronies 30% and leave the lower paid workers alone.  Now that sounds like a plan to me!

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Come up with a plan that does

Submitted by Pauly Cicero (not verified) on Fri, 07/30/2010 - 08:45.

Come up with a plan that does not involve someone else's money and you will have a chance of successfully building the country.

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But the revenue generation

Submitted by Pit Bull (not verified) on Sun, 08/01/2010 - 13:19.

But the revenue generation system in the territory is based upon finding someone else to pay for everything.  Why change?

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That is a terrible idea.

Submitted by Anonymous (not verified) on Thu, 07/22/2010 - 12:47.

That is a terrible idea. Cayman is already considered overpriced and has to fight to hold its place as the no. 1 jurisdiction for funds.  There are a lot of places that want that title.

Your comment about lawyers and accountants is ignorant. Why not just tax them directly if that is the outcome you want? Because then they would hire fewer people in Cayman and there would be less revenue for the government through WP fees, less money for the insurance and utility companies, more empty properties and fewer people in the shops, bars and restaurants.  The net result would be a poorer government and an even weaker economy.

I'm glad you're not in charge.

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