plp govt. Tax&Debt policies create Bermuda's race to the bottom
Bermuda's race to the bottom :
Minus Brains Minors,at it again this time it's Nail Technicians LOL “Gerl um got no food on the table, but chek des nails!”
"I can’t believe I’m seeing another political photo op from this Minister!The economy is in a state of emergency and is getting much worse. Qualified Bermudians are out of work, and loads of established competent construction companies and other well run businesses are closing down, or suffering and barely able to keep their doors open. We need our Minister of the Economy to focus efforts on generating business and investment in this country, and to focus on people at the top – investors and business owners, not people at the bottom.Train as many unskilled as people you like; if there are no employment opportunities for them because the needs of business owners are not being addressed then you’re wasting your time and our money!"
while plp pigs at trough are guzzling champagne on world tours,costing unborn taxpayer's $300,000/DAY in interest
Hard times “I am dealing with all new families this year, families I haven’t seen before. I have a list of 400 families..the stark reality was that the hardest thing for many parents was just feeding their children.
White & Sons' Warwick supermarket will permanently close its doors after 88 years of business after no offers were made to buy the embattled company.
Bermuda’s struggling economy has claimed another victim, with cycle livery Wheels closing its doors
Lack of work ethic in young Bermudians a problem for restaurant owners
this is core reason Tourism collapsed, between BIU strikes, thievery & harassment, that chased hotel chains out of here, as Bill Marriott said after dropping $100 million at castle Harbour, was biggest mistake of his business life ! Most of the lazy ones are already on Govt payroll,same as plp Pigs at trough MP's,it's party time all the time,bulldoze DOT, Wks & Eng , KEMH,prisons,Bus & ferry drivers, tender it out to private companies , then you would see productivity & efficiency
Struggling residents withdraw $3m from pension funds,with 26,000 working bermudians of which 8000 are on the Goverment payroll,it's only getting worse !!
The Bermuda Dollar is next, to crash!the real estate market is flooded with homes for sale now and very few buyers, this will drive down prices.Foreigners are waiting for the big drop in real estate values that is just around the corner as well. Even if prices average out at 750K Bermudians will still not be able to buy as many will not have a job.Bermuda needs the world, the world does not need Bermuda!
But plp borrow billions to pay for MP's,pension,sperks, trips & parties for plp insiders,friends & family,& over paid civil servants,unborn generations will have to pay the bills! The actual debt adds at least three billion to the bottom line, with the unfounded liabilities of pension and healthcare, not to mention the PPP projects such as the hospital which are off the balance sheet, but KEMH alone adds half a billion debt that has to be paid. since the Government never completed the Pay/Pension deal with the Unions that this figure will only grow. Payroll tax revenue plummets"...figures release by the Dept of Statistics confirm what everyone expected. An original budget deficit for the financial year ended March 2012 of $146.5 million is now likely to be close to $300m! This follows on from the last year in which the Premier forecast a budget deficit of $143.5m which ended at $254.4 ! Borrowing for current account spending...out of control!
wonder how many of those 85 workers voted for the PLP since 1998?
They all laughed when Whites closed its doors,
They all laughed when The Mid-Ocean News closed its doors,
They all laughed when Trimingham's closed its doors,
They all laughed and laughed as more and more local businesses closed their doors,
Then one day, they stopped laughing.
You see, there were no more business to close, for they had all gone.
There were no more jobs, for they had all gone too.
Finally, there was no more money.
Nothing, nada, zero, zilch!
Miss PIGGY & entourage -Pigs at the trough- travel & party in UK again! wasting more TAXPAYER"S $ on weekly trips to London with her entourage for election photo-ops! When you are in debt, you don’t get vacations! We don’t have the money for parties and celebrations. Why they are not calling an election until all the trips,checks,credit cards have been maxed out!
After all the marches, parades, champagne parties, and once the bank credit is cut off.This is a preview of YOUR life in coming years: thanks to 14 yrs of plp PIGS at the trough! Spanish Jobless rose to 24.6 %,“Spain’s elderly are not only dealing with the financial aspects of the crisis, but also suffering from watching the collapse of their children’s lives”
Minus brains Minors,in yet another election photo op:After the PLP killed St. George's businesses now they're trying to bring it back. What has EEZ done but submitted verbose reports & paychecks for civil servants who can't get hired in the private sector?Meanwhile;ZBM report tonight about elderly man ,Leroy Henderson, who supplied car parts across from Police in Southside..BLDC destroyed bldg he was using from vindictive punishment,say his three old buddies ,they add its a disgrace from the plp new Bda!!!,great timing just after 5 min plp propaganda commercial for PLP Pigs at the trough !
‘Cayman Situation Is A Warning’. a 10% tax for foreign workers.Cayman compelled by the UK to raise taxes because of excessive debt"
The facts. Just the facts. Nothing but the facts. No deception. No spin. No lies. All truth. Try running your personal or family or business finances with that kind of day-to-day borrowing. See how long you - your family, your business - will last. Understand that Bermuda has been in this spend/borrow mode since April 2004 - eight years.
when a Cabinet Minister pocketed his or her monthly salary of around $14,000; only $10,780 came from revenue. The remaining $3,220 came from overseas borrowing.
Net Debt on 31 March 04 / 01 April 2004 (Handed on by Mr Eugene Cox) = $119,500,962
• Total Net Debt added in the eight years 01 Apr 04 to 31 Mar 12 = $1,117,199,378
Too many pigs at the trough :High administrative costs eat into healthcare revenues
thousands of tax paying international business jobs have been moved away from Bermuda.
The plp arrogance competes with their racist incompetence ,this is same cadre who victimized ,fired & ruined a great scholar,athlete & friend to Bda, Dr Shaun O'Connell.Bermuda’s lost opportunity..Mr. Brian Hall, trying to raise the standard for the Bda College and make it internationally accredited - and he even raised pledges of $5M from the international sector, and STILL HE WAS IGNORED BY THIS GOVERNMENT!!
while Bda Inc. sinks into bankruptcy ,people losing homes,being evicted ,Flip Flops bragging about another world tour,with Cog & entourage stuffing their fat faces ,like pigs at the trough they are, with the same rich Arabs who sold them into slavery ,just as they sold the plp sheeple into Erat's slavery plantation
This nonsense , could have only been created by plp Bourgeois elitists, with lots of idle time on their hands to feed Kool Aid to the wounded.They are totally out of touch with the 99% suffering in this crushing recession/plp produced depression
Contracting jobs cut :Kevin Petty put everything he had, including his heart and soul, blood, sweat and tears, and years of his life into building a quality BERMUDIAN owned tourism product ,Newstead-Belmont resort ,that we could all be proud of and was given no warning or opportunity when the bank walked in and took it all.
Bourgeois elitists BIU executive line their pockets,stage fake march on KFC as union members fired from Govt jobs,School Cafeteria
BUT No problem,the plp government is running both a landscapers training program and pot washer courses!
An independent Bermuda would be the size of a backwoods village. It would be imminently forgettable in terms of international relations. And the insurers are very wary of it.
Job losses at CD&P; Further evidence of the sad and inexorable decline of International Business under this inept and corrupt PLP Government.
what do over paid civil servants do with all their time? block & sabotage private business!
top civil servant at the Bermuda Archives still being paid her $144,000-a-year salary.TO DO NOTHING!
Govt is BROKE !!!1000's of civil servants have lost their dental insurance coverage because Government failed to pay the premium:. just TIP iceberg ! there is a shortage of supplies in schools and Government offices, due to lack of payments to vendors. 73 buses and ferries out of service due to maintenance problems but there is one check that is NEVER EVER LATE.:PLP MP's paycheck.!!!!!
Bermuda lost 7,000 residents since 2008 :Bermuda weaker now than the last time we were downgraded,Larry Burchall
Insurance CEOs say plp payroll tax increase cost jobs and damaged trust "As soon as the increase in payroll tax was announced during the speech I pulled out my calculator to figure out how many jobs I had to move off island to meet my budget."
Warning over Govt’s ‘orgy of debt’ :Cog uses one credit card to pay back the other credit card!
just released Report of the Auditor General for the year ended March 2009 the AG reported that there was a total of $43,710,202.00 in unapproved operating expenditures. The AG writes that " the constant overspending by Government ministries and departments raises questions about the credibility of the budget process
plp pigs at the trough,on yet another world tour; Government roadshow across Europe and the United States which included Financial Secretary Anthony Manders, Director of International Business Travis Gilbert, Economic Advisor Hasan Durham, Director of Budget Tina Tucker and other senior officials in the Accountant General’s Department and the Attorney General’s Chambers.
The PLP have no plan to either control their spending or to pay the debt back. Without an abrupt halt from the Bermuda voters, they’ll easily cruise through $2 billion.I don’t buy their whole “investment versus austerity” schtick. Most of Bermuda’s debt has not gone into capital projects – it’s hosed away on uncontrolled current account spending.
plp Government has been forced to admit that they are out scrounging for loans again.Bermuda’s public debt already stands at $1,230,000,000, largely racked up over the past 5 years.
Bermuda already pays approximately $115 million a year servicing its billion-dollar-plus debt, that’s more than $300,000 a day.
Larry Burchall provides a clear dissection of the politicians’ lies about the debt. Most of it was not spent on capital projects. It was wasted.
Because of PLP’s mismanagement, we are now stuck with the unenviable position that both the ailment and the cure will be very painful
More than 2,800 jobs lost in Bermuda: despite these facts,plp's Goebbels,David burt, minister of disinformation & bullshit ,tries to make pigs into pearls
Sen Fahy added: “Look around town — it’s depressing. Go to St George’s, it’s awful.”Sen Fahy said that rental apartments and homes which Bermudians used to help pay their mortgages were now standing empty.
Bermuda is in a self-created, self-dug debt trap
since Marriott left,even 15 years ago,even before 98,when plp revolutionaries took over,not one big resort corp name would touch this place,now after 14 yrs of Zimbabwe rule,it's only poured cement over the hole they have dug.They can't even manage a public transit system strike ,at high season last summer, stranding 1000's locals & tourists alike for weeks!
The gravy train is almost over !!
with 1000's of unrentable/unsalable properties on the local market already,many already in foreclosure and more to come,this hairbrain scheme,from Butterfield Bank,already bailed out by taxpayers, shows plp desperation to win re election by burdening generations of taxpyer's. The worldwide real estate market crash that started in the USA was due to no money down ponzi schemes like this:$4300/mth mortgage $450 maintence fee,both rising over time,built on an eroding cliff on hurricane alley is not affordable ,it's insanity
Bermuda Industrial Union & it's puppet PLP - the Professional Looters Party. :anarchist organized criminal enterprise posing as govt.
PLP - the Professional Looters Party. posted on RG forum
"The PLP Government philosophy is to STEAL as much money as they can from the Bermudian public.They are grossly incompetent at governing but they are MASTERS at thieving.Their entire time in power amounts to a robbery writ large, with all Bermudians as the victimsWhy do they keep on stealing? BECAUSE THEY CAN."
If Hopelessly In Debt, Borrow More:Bda Inc.is collapsing around us,the growing homeless,from mass unemployment,are joining the regular beggars & mentally challenged,turning the island into a 3d world ghetto,but the plp pigs at the trough don't give a rats ass !Today I saw a young homeless girl, wandering around the outskirts of town,near the tennis club,if she isn't yet, she'll be exploited because she's young,good figure & fresh meat to the scavengers
shameful disgrace that charity has to help seniors as govt MP's party & travel the world, stuffing their faces with wine & caviar , while seniors cant pay for belco,food,or medication!!!
even more job loses for Bermudians
The fact is the PLP allowed more foreigners to work here than the UBP ever did.
Desilva & Blakeney Ministry of Bullshit Budgets:what a duo both of em thieves,liars & gangsters in charge of $ millions ,pissing away taxpayer's hard earned money ,cutting benefits to youth & seniors,while they line their own pockets
PLP Govt considering privatisation of public services:Freddie Wade is rolling over in his grave!! privatize essential services?,PO,airport,buses & ferries ? this gang of bourgeois plp elitists is neither Progressive nor Labour! Besides we know who would get the secret under the table contract from past deals with their friends & family !!
Man Injured In yet another Shooting..
Bermuda's culture is circling the drain,it's demise won't be affected by any election. Conflict is coming,as a result of too much taxation and too much giveaways.1 in 4 people get a Government paycheck The family, cinder block of society, is disintegrating, and along with it, society itself.
in the corporate world this type of financial planning would "get the planners fired." out of control plp gravy train "failed" its audits Four years in a row!!
Cog plp 2012 budget dog-and-pony show:a budget that will spend more money on salaries then the entire Budget of the Government of Bermuda in 1998 (the one they inherited from the UBP)
Consolidated Fund Financial,civil servants’ pension scheme is unsustainable
In her 2010 budget speech, Paula Cox,called it the "Year of Recovery" . Last year she was "Resetting the Dial". What's this year going to be? "Let's all pull together" or some stupid slogan like that? Now that she's screwed everything up she'll want everyone to help? After they've spent the past 14 years telling us "we don't care what you think"?
Larry Burchall says:
Taking a closer look at the figures in the Statements of the Consolidated Fund, this is what shows up:
(A) The 2010/11 overspend was actually $311m, not the $276m touted. The real numbers are neatly assembled on page 5 of the Statements. They show:
Expenses, Current ($1,272,650,610)
Capital Development ($ 31,647,283)
Capital Acquisition ($ 4,215,873)
Total Spending ($1,308,513,766)
Revenue $ 996,728,405
Total deficit/overspend ($ 311,785,361)
(B) Page 59 of the Statements shows Public Debt. Page 35 reports the $200m loan taken up in May 2011. The final tally for Public Debt shows this:
Gross Public Debt $1,030,000,000
Overdraft facility at 31 Mar 11 $ 57,490,260
Gross Public Debt 31 Mar 11 $1,087,490,260
Less Sinking Fund 31 Mar 11 ($ 85,508,498)
Net Public Debt at 31 Mar 11 $1,001,981,762
Add new Debt taken up 18 May 2011: $ 200,000,000
Net Public Debt at 30 Sep 2011 $1,201,981,762
(Plus any increased take-up in the $100m Overdraft facility since 31 March 2011)
Debt Limit is $1,250,000,000. Available now is $48,018,238.
(C) Page 43 shows Personnel costs as $599,745,003. Page 42 shows Revenue as $996,728,405. In 2010/11, 60 per cent of revenue was being spent on personnel.
After Personnel costs were met, only $397m was left over and available for everything else. However, a total of $1,308m was spent. So a total of $397m + $311m was spent on everything else.
$397 + $311 = $708m spent on everything else + $600m spent on personnel = $1,308m spent altogether. Of the $1,308m that was spent, $311 has to be borrowed.
1/2 Government's budget goes to payroll: running deficits now for 6 solid years, plp Government running our island into the ground for 14 years ! plp Government spent $276 million more than it took in revenues,deficit was $1.29 billion,in the fiscal year ending March 31, 2011
The 4th Qualified Audit, plp Government in crisis,bleeding red ink with the same excuses from the Minister of Finance that "we will do better". Nothing gets done, and it doesn't get better,years ago she said she told Ministers to reduce their spending by 15%. They ignored her then and she made the now infamous statement that "I'm merely a cog"
Salvation Army sees surge in demand: but the over paid,over fed plp pigs at the trough are not suffering,Cog cut millions from Salvation Army & all charities BUT THEY WONT CUT THEIR CREDIT CARD SPENDING,TRAVELLING & PARTYING,plp debt interest cost ALONE costs $263,000/day with 6000 unemployed & worsening?
Let em eat Cake "Marie Antoinette" Cox's proposal NOT A CUT! it is another plp "we had to deceive you" shift in funding from the MPs to the taxpayers
Cog is pandering to her dumb sheeple,plp MP's are NOT taking a pay cut, they will get a net 1.25% take home INCREASE for a year,her annual salary $224,000; Deputy Premier Derrick Burgess $181,000; Attorney General Michael Scott $193,000 other full-time Ministers get $168,000./yr plus GP cars,travel credit cards,Blackberrys & unlimited travel!
the plp Minister's and MP's Pension Plan is fully funded, but the Public Service Superannuation Fund is underfunded by $975 million. The Fund has assets of approximately $475 million and a liability of over $1 billion dollars !!
Cayman Islands was now a better choice and could grow in this market "without the malice, without the inhibitions of race, without the inhibitions of transport."
HSBC gets rid 14 jobs! Banks,Insure cos, even your OWN GOVT has already sent IT support jobs ,even help desk jobs to foreign call centers,now basic building management outsourced to foreign countries!
After a year and a half No condos sold !! while the hotel planned for the same South Shore, Warwick site DEAD in water!! yet another stupid plp disaster ,a cynical plot to transplant plp voters into that constituency backfired ,now TAXPAYER"S are stuck with the bills,while a prime South shore Hotel site was ruined!
Entrepreneur loses business,desperate for work !!“I believe that we should march, not riot, but come together and go to Parliament to demand better. Everyone else in the world protests.”
36 people lose their jobs yesterday
20 jobs lost at Bank of New York Bermuda office
Balance of payments surplus shrinks 3.5 percent value of goods imported into Bermuda fell for the sixth straight quarter.
Robbing people to pay Paula.Government's payroll costs have to be cut by Larry Burchall
plp in full re-election mode willing to say anything to create the sense of government action, even if it contradicts their positions a few months ago
plp gang of amateurs,too busy posing, traveling partying & guzzling champagne!Does anyone in authority know what's going on?
plp govt. buffoons at its worst:Minors is clearly incompetent and should resign.
Economy, Trade and Industry Minister Patrice Minors ,a long title for a birdbrain,who was totally useless as Tourism Minister. Now plans to close down even more hard working business entrepreneurs & make even MORE Bermudians unemployed
plp work permit moratorium, on blue collar jobs such as cleaning, landscaping and gardening,construction jobs, including masons, carpenters, electricians and plumbers
a knee-jerk reaction ,sledgehammer approach after 14yrs of waste,Tax &Spend ,bankrupting Bda.Inc. too little,too late.The plp black bourgeois elitists ,are just now realizing that the bottom rung blue collar jobs should be protected for our people, who work only with their hands.In reality,it is an attempt to create- CLASS-RACE WARFARE for their re-election campaign
in a recession of Biblical proportions,the island is dying & bleeding to death,yet the plp elitists parachuted Handbag Burch,with a long history of racist,caustic outbursts,into a safe seat, Col.Burch has reatedly shown he is violently divisive to this community
and these hypocrites call themselves a labour party
The solution is to fix Education so Bermuda can produce people with the skills needed, and that includes trades people, not just accountants etc
First they can get rid of all the Caribbeans David Burt,plp's Joseph Goebbels, has employed on his exclusive govt. contracts,then cut the over paid consultants,& civil servants who write all the plp PR propaganda, such as recently advertised two new 180,000/yr jobs .
Secretary to the Cabinet, Donald Scott,who drives a BMW,acts for plp policy,NOT TAXPAYER"S WHO PAY HIS $180,000 + perks salary.
This oligarchy, a group of pompous fools,the Berkeley clique who told Anthony Francis he would have to resign his govt. post when he was announced as a OBA political candidate, are worse than anything in Bermuda's 400 history: the black bourgeois elitists who have raped & looted the treasury,for 14 years!!