Wednesday, October 26, 2016

Coercing Trinidad and Tobago's Citizens to Buy Local Unethical

Any Trinbagonian who earns their income honestly, that income is theirs to use as they choose. They may use it to buy foreign tomatoes or tomatoes from a Trinidadian farmer. 

It’s their money -this principle forms the foundation of property rights. Their income belongs neither to the state nor to any local producer of tomatoes. Yet protectionist and nationalist arguments rest on the premise that local tomato farmers have some positive claim a Trinbagonian's income. 

If you are prohibited from buying foreign tomatoes or – disciplined with a tariff or duty for doing so, the state is insisting that local tomato growers have an ethical claim on part of your income.

Its about time these false arguments are abandoned. They are put forward not for the good of the farmer; but for the good of the state -who salivates at the notion of increasing gov't revenue while promising a voting constituent (in this case local farmers) something for nothing. 

Tuesday, October 25, 2016

The Process of Voluntary Exchange Tends to be “Civilizing”

By Don Boudreaux
Quotation of the Day… is from pages 373-374 of Benjamin A. Rogge’s 1967 essay titled “East-West Trade,” as this essay is reprinted in A Maverick’s Defense of Freedom, the 2010 collection of Rogge’s essays that is edited by Dwight Lee:
The process of voluntary exchange tends to be “civilizing” in its social impact on the parties involved, including a greater awareness of each other’s basic humanity and a reduction in sheer uninformed prejudice. This civilizing influence, combined with economic interdependence created by trade, tends to reduce conflict between the parties involved and to make for more peaceful relationships, both within a country and between countries.


The exact opposite occurs in a Trinidad & Tobago government office where by decree interaction with a nameless, rude, obstinate public servant is hoisted upon the individual by force and compulsion leading to constant conflict and frustration.  (Think Wrightson Road, Port of Spain Licensing Office)

Bottom line: the bigger the role government plays in society the more uncivilized it becomes. As the Trinidad & Tobago state grows expect more incivility. 

Wednesday, October 19, 2016

T&T's Incremental Income Tax of 30% on Income Above $1 Million Misguided....

Incremental Income Tax of 30% on Income Above $1 Million aka The Tax to make the Trinidad & Tobago economy even more uncomfortable for the persons who are the most productive, take the most risks, add major value and/or create the most jobs.

Apparently these same miscreants need to "pay their fair share"

Sadly budgetary policy based on class war fare and envy is now the order of the day.

P.S. these higher income earners who obviously are quite sophiticated with find find creative ways of legally avoiding the tax e.g. larger expense accounts, paid vacations, company vehicle, company housing etc.

Wednesday, October 12, 2016

Anaemic T&T Economy Suffering Under Bloated Government

Trinidad & Tobago's economic troubles are simple. There are too many people ridding in the wagon and not enough people pulling the wagon. Of course the ones ridding in the wagon are the politicians, the politically connected, government contractors, "public servants" etc who consume resources but not produce. 

Even worse are the bureaucrats who further drag down the economy by impeding productive citizens via rules, regulations and policies they dream up. In years past the largesse could have continued fairly unnoticed; however now that the country's resources have become ever more scarce the the problems are becoming even more glaring. 

Looking for "additional sources of government revenue" is not the solution; rather reducing the parasitic nature of state is the appropriate and moral option.