Furbert: “Everyone Should Pay Their Fair Share”
“This Government is committed to helping all people, not just the wealthy who can find loopholes in systems to serve their financial needs,” Junior Minister of Finance Wayne Furbert said, adding that “if you are paid more, through salary, bonuses, profit-sharing or partnership fees, it should all be taxed.”
His comments follow after Shadow Finance Minister Nick Kempe said that, “Instead of continuing to drive the Government machine to be more efficient and less tax hungry, the Premier has decided to put the hurt to the middle class to feed Government spending. The new dividend tax legislation was a clumsy solution to a real problem that effectively used a sledgehammer to crack a walnut.”
Mr. Furbert stated, “This Government is committed to helping all people, not just the wealthy who can find loopholes in systems to serve their financial needs. We believe taxes should be paid according to an ability to pay. If you are paid more, through salary, bonuses, profit-sharing or partnership fees, it should all be taxed.
“For too long Bermuda has been an island where those who have, continue to amass wealth while many are suffering. There is enough for everyone and the mentality of scarcity doesn’t serve us.
“This government will work to make the tax system fair and equitable. We will work to ensure small businesses have an opportunity to thrive. We will work to even the playing field so those who work hard and make contributions to our society reap the benefits of those long hours.
“To this end, this government has cut payroll taxes for workers to the lowest levels in 23 years. We eliminated payroll taxes for new entrepreneurs, and we eliminated duty on staple goods.
“The Opposition are in the business of defending tax loopholes for the wealthy, while this Government believes everyone should pay their fair share. The last government managed to double Bermuda’s debt and Bermudians suffered while more than $100 million was spend on the America’s Cup which has provided only a temporary boost to the economy.
“This government was elected to transform Bermuda’s economy for the future, and our policies which will put development and investment in Bermudians at the centre of our plans will yield long-term benefits.
“We will not be deterred by the need of the Opposition to appear relevant. They had their chance and Bermudians remember what their leadership was like. We are building a stronger economy, one which we can all be proud of by ensuring Bermudians can access higher education, seniors can live in dignity, and entrepreneurs can start and grow their business.
“We prefer to listen to the likes of Mr. Brian Dupperault, President and CEO of AIG who said, “…we have ample evidence that the green shoots of change are starting to take hold.”, and BDA Chairman, Mr. Paul Scope who said during a recent conference, “I’ve never been more confident in the four decades that I have been here of where we are in the business sector.”
Junior Minister Furbert concluded, “Together with the comments from local business owners who’ve said they haven’t seen startup activity like they are now seeing in Bermuda in a long time. We are moving forward with speed and deliberation creating a better and fairer Bermuda.”
“We are building a stronger economy”
He must be referring to the Cayman economy, cause he can’t be serious about a stronger local economy.
How much tax does Mr. Furbert believe he should pay?? And when will the PLP govt collect the 120 million already owed in back taxes??
I am a worker and my payroll deductions haven’t been decreased.
So what is he talking about lowest level in 23 years?
We can see that reading is not your strongest attribute.
“To this end, this government has cut payroll taxes for workers to the lowest levels in 23 years”
Sorry, but what do you see in this quote that makes you think I am wrong?
Furbert, needs to stop and take a breath…it is very hard to understand what he is saying at times….
So you are now implementing income tax? This is the worst government in history… can’t fix the problem so take from the people. This is dispicable, shame on you.
This is rich. Wayne “Flip-Flop” Furbert lecturing people in finances. So tell us what you have done to help the little guy? Do you pay your fair share? Is paying Ewart Brown a million dollars in line with your opinion? What about the sugar tax, increased costs for Bermudian business owners through increased payroll tax and land tax?
All silence and misdirection from this government. Their only goal is to gain and then retain power and now even the people who voted them in are starting to realize it.
Furbert, it is high time for you to retire from politics… you are a has been.. “so long bye bye”
Bu%^&^heet.
More polly trickin.
Last government …..100 million/double debt.
what a load of B/S! You’ve added a sugar tax (which affects mainly the poor), you tax dividends but not those in IB or those who receive dividends from a firm listed on a recognized stock exchange (how many poor people have shares?), and you have raised health care costs (who suffers most from that?)
In the meantime there is nothing here about how to fix the economy, how to get more people onto the island to broaden our tax base and when the budget will be balanced.
This is blatant rubbish from our PLP/UBP junior finance minister …
Sin and sugar taxes have gone up but you don’t mind cause you still getting fat off of the public purse.
Where are the new jobs Wayne? where is fintech land? what other plans do you have to stop the economy getting worse? when will you balance the budget? what utter rubbish
Thank you Minister for pointing out their hypocrisy. While they keep talking bout business CONFIDENCE let’s talk about actual business and if that’s been deterred. And again thank you for pointing out THE FACT that the OBAUBP DOUBLED the DEBT in 4 and half years and spent over 100 million. Let’s not forget that and how much the OBA and their followers lie to try and cover those mere facts up. I dont blane you sir I wont listen to amatures I will listen to the professionals, the same one who the OBAUBP hired in their SAGE commission who is saying positive things. I’m all in. Thank you PLP
Of course they doubled the debt – they had to borrow to cover all the budget deficits caused by the PLP’s out of control spending!
Thank you!
If you won’t listen to amateurs then I suggest you end your political allegiance.
I bet yo also disregard the following:
- Negative GDP growth once again
- Five consecutive months of falling retail sales
- Employment income down $15mn (would’ve been worse if it wasn’t for the civil service raise enacted recently)
- Numerous layoffs and cut back hours
- No movement in the real estate market
Please address these actual facts and then we can have a debate on the disingenuous argument about doubling the debt.
But as I can see facts aren’t really your forte, so I expect some personal attack and a continuation of the tour disregard to Government published stats. And that’s why the PLP loves you:)
Sources please
BBQ or sweet and sour ? Lol!
Dont get it twisted with the debt mate, the PLP would not have been able to avoid the doubling either, in fact it might have tripled if the OBA wasnt elected!!
Further more, no one is lying about the fact that the debt was doubled, nor cover it up. Unlike the PLP, the OBA did something called an investment holding AC2017 and it did in fact provide a pretty decent return.
All the PLP has done to help people like you is raise your taxes and made it harder for you to catch your bus to work!
Sadly they don’t get it ……
You are right, Bob Richards was dumb not to slash the civil service jobs and balance the budget. Instead he made a silly promise of not making anyone in the civil service redundant and that has come back to bite them in the a$$!! De tity milk drinkers don’t care about de debt, all they care about is the next paycheck!! Don’t worry though, Wayne Furbert is coming to the rescue!! Ha ha ha!!!
A Hahahahahahahahahahahah!
“I wont listen to amatures I will listen to the professionals”
So why believe anything said by a biased junior minister not in command of basic truths? Read the independent PWC report if you’re truly adamant about listening to professionals.
We prefer to listen to the likes of Mr. Brian Dupperault …. well you and Burt have something in common – you both like to listen to billionaires!
Not sure which BDA he is living in.
he’s talking through his flip flops
Why do politicians think that ‘paying their fair share’ equates to higher earners paying more?
Do they use or receive more taxpayer funded services?
From the coffe shop guy.
Why not try eleaberating on what our NEW national debt is since the PLP took over office.
So you’re really saying I might as well just quit my job and take handouts since the rich people will pay for it? lmfao…
He’s not too sharp is he, old Flip FLop. So, not content with being a bigot, he’s clueless on the economy too.
Would be funny if he wasn’t junior finance minister.
Great article, Wayne!!
The out of control spending happened during oba…Pat Pamplin and her stupid free trip to Brazil for the Olympics AND Sylvan’s spending on the same thing.
The WORST spending spree was the ridiculous oba bringing America Cup to Bermuda….a waste of taxpayers money.
Question: Who financially gained from such foolishness??
Always attempting to divert the truth away from Born Bermudians!!
So….Wayne, continue on!! You are in power now!!!
Says a supporter of a Party that was running $400mn deficits in 2012. And yet you think that more than halved that PLP deficit in less than 5 years was the one that enacted ‘out of control spending.’
You truly are dumb.
* And you think that the PARTY that more…
I am amazed that people like you do not realize what A’s Cup bought us. Do you realize that A’s Cup bought us over $100 million dollars into our economy???? The OBA had a really rough time because prior to that your PLP used up all the money with their over-runs on projects, no maintenance on buses, ferries or schools, remember? So what do you think? When you own house is falling apart and you just leave it, then the next person has to fix it up. Well they knew how tough it would be, so let’s see if they can handle it. I doubt it though.
Read the PWC report. Stop relying on the PLP to report the facts. They don’t.
This lot seem to be hell bent on destroying our economy.
“The last government managed to double Bermuda’s debt”
No it didn’t.
“more than $100 million was spend on the America’s Cup”
No it wasn’t.
Are his real points so weak that he has to tell blatant lies?
With the lie of $100 mil on the bilionaire’s raftup I’m starting to think that Wayne could be one of 2 or 3 posters on here .
He is right, i went on a raft up in September and it only cost 40 bucks for a case of corona. Why this raft up cost so much for these rich boys??…. I just wanted to type those words and feel what its like to be so stupid. Did i say stupid cause that word is an insult to stupid people on the island, I know longer care and we are screwed
So if you are making $70,000.00 or less you are considered in the poverty level., so that means that the majority of Govt. workers are in the poverty level
why not implement a general salary for everyone by law ?
regardless what your profession is ,waiter or director , you are getting by law BDA $ xxxx
so the envy discussion could be stopped.
if a company wants to spend more on their staff , it will be taken by the government , to finance to lower incomes.
socialism
p.s.
that’s valid for everyone , with , of course , the exception of the BDA Minister
Bermuda is another World
tax and spend, tax and spend.
So you want everyone to pay their fair share. Why does a pensioner receiving $1,000 per month (their money) have to pay over $ 100 for diaysis because you don’t have any idea how to fund it. How is that helping everyone??
Is he doing a new pyramid scheme
Was wondering when someone would throw the question about taxing on say, travel websites…
.PLP are truly a bunch of dreamers
You are an idiot. You cannot tax a country into prosperity. It just doesn’t work that way, EVER!
So the PLP have introduced income tax, but just for locals.
Time to think about an exit strategy. You fools think everyone should work hard for others.
Wayne, how about a tax on the rental income you receive and pay nothing on it? Fairs fair, right?
“This Government is committed to helping all people, not just the wealthy who can find loopholes in systems to serve their financial needs,” Junior Minister of Finance Wayne Furbert said, adding that “if you are paid more, through salary, bonuses, profit-sharing or partnership fees, it should all be taxed.”
This is an outright lie.
The Government’s recent change to include taxation on dividends ONLY effects local companies. The PLP specifically EXCLUDED exempt companies and cab drivers. Stop lying to the people.
“$100 million was spend on the America’s Cup which has provided only a temporary boost to the economy.”
Another falsehood. The Government spent well below that number and the economic benefit for Bermudians was in excess of $300 million dollars withfurther future benefits of $90 million dollar estimated by an independent review authored by PWC.
When will the PLP start telling the truth about our economy and their integral role in its decline, the debt and successive operating deficits?
So if your kid is in private school do you get tax relief? If you do not collect financial assistance do you get relief? Right now I take my own trash to the dump can I get a little back on that please.
Great Idea. Lets start with the churches.
Maybe he thinks fintech is a pyramid scheme
Vote for them again. Does Flipflop understand how economics works? The wealthy have options we don’t. Just who do you think will pay more? Vote for more taxes vote for less jobs as the world turns.
If you tax payroll, bonuses, profit sharing and dividends as is now the law, you have implemented income tax in Bermuda.
However, it’s discriminatory as the taxi drivers are exempt. International businesses are exempt and local listed companies are exempt. Just the little man in Bermuda trying to run a business and make a profit. Shame on this government. The first government in Bermuda to institute income tax….with a wide overlay of discrimination.
This law needs a classs action lawsuit.
Flip flop, flopping again!
Will Ewart Brown be paying taxes on his $1.2 Million bonus?
I not particularly confident in anything Wayne Furbert has to say however we will see how the Govt financials end up in April. The Govt this year declined to implement an additional increase in payroll tax for those in the upper salary bands which was very nice but strange since Bob Richards had already taken the heat for it a year ago.
A hahahahahaha……..funny Wayne. NOTHING is going to change, and if it does, it will only get worse for the middle class. Dreamers………
Wayne Furbert is a joke and he knows it