I totally agree with your editorial on the cost of living.
I have been living in the US for about two years and every time I consider to move back home I see the cost of living going up even more.
When I left it was already out of control; now it seems to be getting worse.
I make a little less than what I was making when I left the Cayman Islands in 2004 after taxes; however the cost of living is so much cheaper here, why come home to make more money but spend $3 for a loaf of bread?
My wife sometimes asks me why we don’t leave because we can make more money back in the Cayman Islands because it’s tax free and the weather is better.
I totally agree with the latter, however when it comes to taxes that is a bunch of hogwash.
The only difference is that the taxes over here are added after you purchase an item, over in the Cayman Islands it’s already included in the cost of the product, which cost more than in the US even after you add taxes!
If the Cayman Islands Government doesn’t get a grip on its spending and pork you will no doubt price yourself right out of the market and the tourist will no longer come except the cruise ship passengers who generally don’t spend as much as stay over passengers.
I have spoken to dozens of people from Illinois and Wisconsin who said that they would love to visit the Cayman Islands but upon researching and crunching the numbers they can get a better deal going elsewhere.
When will the Government realise that there are a lot of other beautiful islands out there that are a whole cheaper than the Cayman Islands?
In closing I think that they should install some form of lottery to generate revenue for the Government. Everybody is buying numbers on the side anyway, why not legalise it and get a piece of the pie. It’s stupid not to!