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Re: Tax Increases Won't Be Just Affecting Tourists
[Re: Bakoguy]
#98560
05/26/2016 01:13 PM
05/26/2016 01:13 PM
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Joined: Jul 2012
Posts: 559 Apex, NC
agrimsrud
Traveler
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Traveler
Joined: Jul 2012
Posts: 559
Apex, NC
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Reading the Platinum News is something special! I love this one: "and people will cut down on the amount they drink or worse, stop drinking period."
Yes indeed - if people stopped drinking things would definitely be terrible. <img src="http://www.traveltalkonline.com/forums/images/graemlins/Wink.gif" alt="" />
Life's short - sail more!
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Re: Tax Increases Won't Be Just Affecting Tourists
[Re: TackingAg]
#98566
05/26/2016 04:48 PM
05/26/2016 04:48 PM
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Joined: Jan 2007
Posts: 1,277 Saint Thomas, USVI
CaptainJay
Traveler
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Traveler
Joined: Jan 2007
Posts: 1,277
Saint Thomas, USVI
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TackingAg said:So if we look hard for a silver lining, could this mean that the price of beer will drop? Understanding that it was taxed due to a larger volume/weight, would this mean that I don't have to pay $38/case for bud light at Riteway Pasea compared to the $18 I would pay at home? (I drink Carib when on charter, but I'm using an apples to apples comparison). Dare to dream and look for the positive. Nope Caribbean Cellars General Manager Robert Knock said he expects the typical case of beer will increase by about $2 per case — beer is currently taxed at $1.10 per gallon, but will be taxed at the 25 percent rate starting June 1. Sin Tax Increase
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Re: Tax Increases Won't Be Just Affecting Tourists
[Re: Bakoguy]
#98569
05/26/2016 06:46 PM
05/26/2016 06:46 PM
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Joined: Jun 2004
Posts: 6,100 Maryland
Twanger
Traveler
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Traveler
Joined: Jun 2004
Posts: 6,100
Maryland
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Bakoguy said: "The new tax scheme is expected to increase government revenue to approximately $800,000 in 2016."
It will interesting to see how much revenue is actually generated from this and if any new revenues will be offset by losses due to tourists taking their business elsewhere. Unfortunately the locals will be the most impacted by this new tax. Yes. It's well known that you can't just keep increasing taxes and get more and more revenue. Eventually revenues fall. Some guy named Laffer first came up with this... https://en.wikipedia.org/wiki/Laffer_curve
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Re: Tax Increases Won't Be Just Affecting Tourists
[Re: TepeRacing]
#98571
05/26/2016 08:09 PM
05/26/2016 08:09 PM
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Joined: Feb 2002
Posts: 925 Michigan
rhans
Traveler
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Traveler
Joined: Feb 2002
Posts: 925
Michigan
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TepeRacing said: So will you still be allowed to bring rum from St. Thomas? Seems to me if you charter from CYOA or another St. Thomas outfit. Your beverages would be "Ships Stores" <img src="http://www.traveltalkonline.com/forums/images/graemlins/Grin.gif" alt="" />
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Re: Tax Increases Won't Be Just Affecting Tourists
[Re: Bakoguy]
#98572
05/27/2016 10:52 AM
05/27/2016 10:52 AM
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Joined: Oct 2012
Posts: 308 Tampa, FL
denverd0n
Traveler
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Traveler
Joined: Oct 2012
Posts: 308
Tampa, FL
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Bakoguy said: It will interesting to see how much revenue is actually generated from this... Yes, it will. Politicians always seem to ignore the real consequences of their actions. So they say to themselves... "X gallons of some product are sold on the island every year. If we add a tax of 10 percent to that then we will take in 0.1 * X in additional revenues. Great!" They completely ignore the fact that the additional tax will cause some people to change their behavior, and that as a result they are almost certain to increase their revenues by LESS than 0.1 * X. In fact, it is entirely possible that their 10% tax (just a number picked out of the air as an example) might be the straw that broke the camel's back and might, therefore, be enough to reduce sales by MORE than 10%, resulting in an actual REDUCTION in their total revenues! Try to explain that to a politician or a bureaucrat, though, and you will get nothing but a blank stare 90% of the time.
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Re: Tax Increases Won't Be Just Affecting Tourists
[Re: denverd0n]
#98573
05/27/2016 12:36 PM
05/27/2016 12:36 PM
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Joined: Apr 2002
Posts: 7,137 GA/NC
GeorgeC1
Traveler
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Traveler
Joined: Apr 2002
Posts: 7,137
GA/NC
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Try explaining that the money you earn belongs to you not them and you will get the same blank stare! They will however be able to quote the first rule of being a politician with a smile! "Money is power and money comes from taxes therefore taxes are the cornerstone of power!" G
Last edited by GeorgeC1; 05/27/2016 12:39 PM.
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