Budget 2010: "1Malaysia, Together We Prosper"

[karhoe]

They are cutting the tax rate at 1% a year, because they want to implement GST already....

[zy]

Originally Posted by Adrian Wong

RM 43,320 (US$ 13K) for retired models of Acer notebooks???? :

They want antique notebooks as collection

[Adrian Wong]

Originally Posted by karhoe

They are cutting the tax rate at 1% a year, because they want to implement GST already....

Yes, they want to implement GST, but GST impacts the poor much more than the rich since it basically targets those who do not normally pay income tax. However, they are reducing the tax level of the RICH, instead of the poor or middle class.

If you paid a tax rate of 10% this year, you will pay the same next year (ignoring other considerations since we are talking just about tax rates). On the other hand, rich folks will save an additional 1%.

[The_YongGrand]

Originally Posted by Adrian Wong

Year in, year out, corrupt folks in our government spend our tax dollars like there's no tomorrow.

RM 43,320 (US$ 13K) for retired models of Acer notebooks????

And what is the government doing?

Instead of firing the bastards, they are trying to eke more money out of us.

Instead of reducing the taxes for the poor and middle class, they cut tax for the TOP TIER for the second time in a row!!! Talk about a lack of common sense!

Heard that the bunch of screwdriver sets are sold 100x more expensive than the original price! Even those books and stuff sold are inflated in price! What are they trying to do?

[Chai]

Originally Posted by The_YongGrand

Heard that the bunch of screwdriver sets are sold 100x more expensive than the original price! Even those books and stuff sold are inflated in price! What are they trying to do?

Very simple, keep more gold in pocket.

[Adrian Wong]

They need to hoard up a lot of cash for the next general elections. They will have to SPEND, SPEND, SPEND to make sure they stay in power.

[Brian]

Originally Posted by Adrian Wong

Yes, they want to implement GST, but GST impacts the poor much more than the rich since it basically targets those who do not normally pay income tax. However, they are reducing the tax level of the RICH, instead of the poor or middle class.

If you paid a tax rate of 10% this year, you will pay the same next year (ignoring other considerations since we are talking just about tax rates). On the other hand, rich folks will save an additional 1%.

Because they're the exact same people that tend to migrate wholesale to other countries to reduce their tax burden. Unfortunately, the rich are the most mobile people worldwide, like it or not, and I guess the calculation Najib's making is that we're better off with them spending their cash in Malaysia, than scaring them off by having a high taxation rate for the highest income earners.

Sure, what is 1% to someone earning so much, but it seems this kind of thinking is pervasive everywhere. If you want to blame anyone, try neoliberal economics.

[Adrian Wong]

Originally Posted by Brian

Because they're the exact same people that tend to migrate wholesale to other countries to reduce their tax burden. Unfortunately, the rich are the most mobile people worldwide, like it or not, and I guess the calculation Najib's making is that we're better off with them spending their cash in Malaysia, than scaring them off by having a high taxation rate for the highest income earners.

Sure, what is 1% to someone earning so much, but it seems this kind of thinking is pervasive everywhere. If you want to blame anyone, try neoliberal economics.

It's not so much about how much 1% is to the rich, but rather, if the new Budget is indeed a caring budget that addresses the need of the common people, then a 1% reduction in the TOP tax rate is hardly the right move.

[Brian]

Originally Posted by Adrian Wong

It's not so much about how much 1% is to the rich, but rather, if the new Budget is indeed a caring budget that addresses the need of the common people, then a 1% reduction in the TOP tax rate is hardly the right move.

Hardly the right move in terms of public relations, but in terms of government revenues it might be beneficial overall which might help everyone in the end don't you think?

[Adrian Wong]

Originally Posted by Brian

Hardly the right move in terms of public relations, but in terms of government revenues it might be beneficial overall which might help everyone in the end don't you think?

With all that corruption and leakage? No way. LOL!