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Friday, 28 December 2012 12:14 |
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In just a few days another year ends, and a new one begins. The past year has been very interesting, and as one reflects on its passage, one cannot help but recognize the blatant paradoxes that appeared. There were many, but for the purposes of this editorial, the focus will be on two. The first evident paradox was reflected as Jamaica proudly celebrated 50 years of political independence from Britain. Trinidad and Tobago reached a similar milestone. However, despite the pride among Jamaicans, the economic challenges that persist in that country made it, paradoxically, difficult for the nation to be economically independent, unable to grow and develop without external assistance. Jamaica's economic situation is perhaps the most precarious since 1962, and it's arguable whether this is the fault of any of the nation's two political parties which alternated in forming the nation's government at different periods during the 50 years. Rather, the economic problems that beset Jamaica are more entrenched and more systematic, than political. Unlike Trinidad and Tobago, Jamaica isn't blessed with natural resources like oil, peat or natural gas. Although the country still has rich pockets of bauxite, the world demand for that product has waned, and agricultural exports have come under aggressive competition since the emphasis on a global economy.
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Friday, 21 December 2012 13:51 |
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In a few days it will be Christmas, traditionally a time of joy, peace and goodwill. However, unfortunately, this Christmas is tainted by the emergence of an evil act . This atrocity visited an elementary school in Newtown, Connecticut, snatching the lives of 20 small children ages 6 to 7, and six adults. As usual when such cruelty infiltrates the society, the common and collective question is, why? Why did such an act happen? How could this occur? The fact is evil is constant, taking various forms. It is not only manifested in murderous rages. But has no ethnicity, belongs to no particular race, age or gender. It emanates from the heart and the tongue, exists among friends, in homes, churches, the workplace, schools, everywhere. Evil is evident in malicious gossip, destructive lies, scandal mongering, jealousy, covetousness, hate, revenge and insanity. Christians try to build a defense against wickedness, fervently praying, "Lord deliver us from evil," or bolster themselves with faith that though they "walk through the valley of the shadow of death they fear no evil." Still, too often, like last week, we witness acts of violence afflicting the innocent and defenseless like those 20 children in Connecticut. For Christians it must be more devastating this act manifested itself at a religious season as they herald "Peace on Earth." Amidst the colorful lights, festive spirit, warm greetings, utterances of love, displays of kindness, this insane act emerges attempting to rob the joy of the season. It's a stark reminder that evil never takes a holiday, knows no religion, respects no culture. So what can be done about this? This, too often rhetorical question is clouded with much frustration. Man can protect themselves with barriers, guns or stringent legislation, but evil always seem to find a way. Nothing can erase the potential for evil that lies within people. A psychiatrist once said the potential for evil lies within every human, but fortunately most have the self-will and power to suppress it, but some don't and are consumed by it.
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Thursday, 13 December 2012 15:56 |
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The concern related to the U.S. economy falling over a so-called fiscal cliff by year-end is actually misplaced. Even if a deal is reached regarding the expiration of the Bush tax cuts and cutting federal government spending, dangers of the economy skirting a precipice will again emerge in the not-too-distant future, if the nation's leaders do not act quickly to reform the nation's tax policy. Behind the confusion that currently prevails in Washington, one of the key problems plaguing the country is the lack of sufficient revenue to enable the federal government to meet general expenses, and create the environment to generate private sector investment and economic growth. Generally, governments seek to raise revenue to meet its expenses by taxing its citizens. There's no question citizens must pay taxes. The Savior extorted the people to "Render unto Caesar the things that are Caesars," otherwise pay taxes. However, any government that genuinely considers the welfare of the populace must seek to apply a fair and equitable tax system that doesn't unduly burden one class of citizens. The last time the U.S. tax policy was reformed was in 1986 (the Tax Reform Act of 1986) which actually cut income tax rates. However, to maintain sufficient revenue for the federal government, higher taxes were placed on saving and investment, thus increasing capital gains tax paid by businesses and individuals. During his administration, President George W. Bush, in a twin effort to afford Americans income tax relief and spur economic development, reduced taxes, a policy carried over to the Obama administration and due to expire on December 31. However, over the past decade the Bush tax cuts cost the economy an estimated $2.6 trillion, approximately half the public debt increase incurred over this period. Theoretically, the tax cuts should have resulted in economic growth, but, unfortunately, ill-advised, irresponsible economic policies saw these cuts coinciding with a gradually weakening economy leading to the Great Recession. The Bush tax-cuts revealed that economic growth cannot be guaranteed if these tax-cuts aren't accompanied by responsible government spending.
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Friday, 30 November 2012 14:10 |
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Jamaica has experienced two distinct periods this year, the 50th year of its political independence. The first period, prior to August 6, Independence Day, was marked by an air of post-election excitement, and pre-independence anniversary celebratory anticipation. Since the relatively brief, scaled down celebration the second period has seen a malaise - uncertainty, doubt, and hesitancy taking over the country. Today, the much anticipated Jamaica 50 celebrations have receded into seemingly long past history.
When the People's National Party (PNP) formed the new government in January there was hope and anticipation, especially among the poor, for better days. The Jamaica Emergency Employment Program (JEEP) was supposedly revved up for a ride that would transport hundreds of unemployed Jamaicans to gainful employment. 'Sista P', the defender of the poor, was again prime minister, poised to eradicate the dreadful scourge of poverty and the government under the capable hands of the new finance minister would in an anticipated short time successfully negotiate a new loan agreement with the International Monetary Fund (IMF), securing funds as the foundation for building economic growth.
Unfortunately, one month short of the PNP's victory in the 2011 general elections, disappointment that the high anticipation level at the beginning of the year hasn't materialized has permeated the Jamaican society.
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