Economy & Taxes

Why Sen. Donastorg Keeps Pushing Repeal Of Tax Lien Law – And Why You Should Care

Why Sen. Donastorg Keeps Pushing Repeal Of Tax Lien Law – And Why You Should Care

There are two good reasons that Sen. Adlah “Foncie” Donastorg continues the fight to repeal a section of the VI Code that allows the government to sell property tax liens to third parties for collection.  The first reason is because as long as that law is on the books, property is at risk.  The...
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Posted in Economy & Taxes | 59 Comments »

Before You Buy Another Lottery Ticket, Read This Report!

Before You Buy Another Lottery Ticket, Read This Report!

(Update: Apparently the weekend fire was in a satellite office of the Lottery on St. Thomas. An large number of documents were reportedly destroyed. Anyone with verified information on this event is encouraged to contact us at admin@cruciansinfocus.com.) Unreconciled accounts, unaccounted for tickets, duplicate winning tickets being paid, over $1.5 million in funds not transferred into the Educational...
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Posted in Economy & Taxes, Lottery | 47 Comments »

Strongarm Tactics Again Evident In Property Tax Proposal

Strongarm Tactics Again Evident In Property Tax Proposal

They haven’t collected property taxes in four years – and now they want you to pay. And if you don’t, or you can’t in the time they determine is adequate, that property may belong to the bank. And there won’t be a thing you can do about it. Or you can sign on to...
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Posted in Economy & Taxes | 15 Comments »

“Borrow and Spend” Results In Drop In VI Bond Credit Rating

“Borrow and Spend” Results In Drop In VI Bond Credit Rating

Maybe the Governor will finally get the message that “borrow and spend” is not the answer to the fiscal crisis in the Virgin Islands. The USVI’s Government Obligation (GO) bond rating has been downgraded by Fitch, one of three major national credit rating agencies for corporate and municipal bonds (the other two are Moody’s...
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Posted in deJongh, Economy & Taxes, Fiscal Management, Uncategorized | 30 Comments »

Report: VI Use Of Rum Cover Over Permitted By Current Law

(Editor’s Note: CIF would like to thank Delegate to Congress Donna Christensen for providing us with a copy of this report.) The government that receives the rum cover-over has the discretion to spend it as it pleases, and legislation brought forth by Puerto Rico limiting its use would violate the Congressional intent of the...
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Posted in Diageo, Economy & Taxes | 41 Comments »

Cover-Over Battle Threatens VI Revenues

In recent months, Gov. John P. deJongh Jr. has described Puerto Rico’s objections to the Diageo rum deal as those of a sore loser who lost the rum producer’s business to the Virgin Islands. But a bill on being considered in the US House of Representatives (HR 2122) that would modify the use of...
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Posted in Diageo, Economy & Taxes | 36 Comments »

Keep Talking, Part 1: Property Tax Misrepresentation

We have been studying the best way to address the property tax issue due to its voluminous nature and we finally have our answer. It appears the District Court’s opinion (9/15/08 District Court Memorandum Opinion) was so comprehensive that the Administration has had difficulty understanding what they read. However, in light of what appears to...
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Posted in Economy & Taxes, Government Ops, Leadership | 17 Comments »

Guest Opinion: Diageo Partnership

Guest Opinion by Dwane A. Callwood I am amazed at how quickly we seem to forget here in the Virgin Islands. I am very concerned that the Governor is calling the Senate into Special Session to consider more borrowing to keep the territory afloat. I concede we are in tough economic times. However, I...
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Posted in Diageo, Economy & Taxes, Leadership | 26 Comments »

Community Pulse: Belt Tightening

The economic situation has forced Governor John deJongh, Jr. to tighten the financial belt of government spending for 2010. To that end, he has submitted a proposed fiscal 2010 budget that includes eight unpaid holidays for government employees but contains no salary or benefit cuts for members of the executive or legislative branches of...
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Posted in Economy & Taxes, Fiscal Management, Leadership | 8 Comments »

3rd Circuit Rules Against VI Gov’t In Property Tax Case

We are currently reviewing the decision of the 3rd Circuit Court of Appeals regarding case # 08-3897, Berne vs Government of the Virgin Islands. We will post our comments in the near future. Property Tax Ruling – 3rd Circuit Court of Appeals – Case #08-3897 Share on Facebook
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Posted in Economy & Taxes, Government Ops | 9 Comments »

We Were Warned

At a recently concluded Senate Finance Committee meeting it was disclosed that the company that operates the video lottery terminals (VLT’s) in the Virgin Islands, Southland Gaming, owes the Government of the VI (GVI) $22 million and counting. Not included in this collectible, is a smaller but significant sum of money (approximately $4 million)...
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Posted in Economy & Taxes, Government Ops, Leadership | 18 Comments »

IRB vs Senator James

Click here to view the IRB filing against Senator James. Guess that’s one less vote for the repeal of Act 6905. Pay your taxes Senator! Share on Facebook
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Posted in Did You Know?, Economy & Taxes | 15 Comments »

These Are Trying Times

Guest Opinion by J. J. Estemac It is an understatement to say, “these are trying times”. Now we can understand some of the foretelling or prophesies that have been talked about in different forums, but more particularly in the religious communities. Some cite the Holy Scriptures, some Nostradamus and some other sources. We are...
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Posted in Economy & Taxes, Leadership, Social Issues | 2 Comments »

Our Economy

Our Economy

Opinion Article by Michael Springer Jr. Sometimes the solutions to complex problems can start with simple steps and resources that are right in front of us. Our economy, like many others, is in poor condition right now. The cost of living in the territories rivals major mainland urban areas. Basics like food and energy...
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Posted in Economy & Taxes | 1 Comment »

Senator Hill’s Quote

It was a most revealing comment; a comment that highlighted a fatal flaw in the direction some of our “leaders” believe will be beneficial to the Virgin Islands. Just before the conclusion of two days of hearings on the now approved Diageo deal – hearings that contained impassioned testimony for and against – Senator...
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Posted in Economy & Taxes, Politics | 13 Comments »