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Monday, May 27, 2024
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Tax Incentives Not Tax Hikes

Dear Source:

I live stateside currently. I was interested in moving to Frederiksted, St. Croix when I retire. Seems the taxing authorities have their heads-in-the-sand with these 'market rated' evaluations. By the way, isn't the firm Bearing Point really a re-transformation of the defunct Anderson Accounting. We all remember the 'fine' job they did for Enron and WorldCom. Oh, oh, so objective in their deliberations that many of them became millionaires in the process!
Frederiksted is in need of financial infusion. Why scare away new efforts in the area by making it too expensive to do the investing in the first place. This I do not understand and think the reverse should take place. Tax incentives for new business needs would be my approach to revitalization. When the community becomes more wealthy (thinking of cruise ships returning and the casino project in full swing) that is the time to have a win-win condition. Win-win defined as more taxes (for the additional services, eg: better roads, sewer / water system upgrades, etc.) from a more-able-to-pay tax base.
Jim Swartz
Bowie, Md.

Editor's note: We welcome and encourage readers to keep the dialogue going by responding to Source commentary. Letters should be e-mailed with name and place of residence to source@viaccess.net.

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