tag:blogger.com,1999:blog-6297413898275266606.post8938659322777195225..comments2024-03-27T18:15:59.096+08:00Comments on Economics Malaysia: Live Blogging Budget 2014 [UPDATED]hishamhhttp://www.blogger.com/profile/06265308095732759923noreply@blogger.comBlogger46125tag:blogger.com,1999:blog-6297413898275266606.post-29873980944635297202013-11-22T09:32:54.956+08:002013-11-22T09:32:54.956+08:00looes74,
I listen to him because despite the colo...looes74,<br /><br />I listen to him because despite the colourful personality and very colourful language, most of his arguments are backed up by solid research. Plus he keeps me on my toes.hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-12628720354219594122013-11-22T09:29:44.095+08:002013-11-22T09:29:44.095+08:00looes74,
The poll tax was highly regressive - the...looes74,<br /><br />The poll tax was highly regressive - the 1% with 50% of the wealth paying 1% of local taxes. I flummoxed how you can see this as "extremely fair".<br /><br />And first and last warning - I do not allow foul language in the comments on this blog. Any further such comments will be deleted.hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-17716098142929794052013-11-18T10:05:21.258+08:002013-11-18T10:05:21.258+08:00Hishamh,
Remember this guy is a Malay...Hishamh,<br /> Remember this guy is a Malaysian KKK or Nazi. Try not to get yourself associated with him. What next come up from this fucker? The final solution?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-50525685463197573562013-11-18T10:03:24.033+08:002013-11-18T10:03:24.033+08:00We should start taxing you, Warrior for being a re...We should start taxing you, Warrior for being a rentier. Kapish!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-4472675151370538772013-11-18T10:01:14.706+08:002013-11-18T10:01:14.706+08:00Zuo De,
UK Poll tax is also EXTREMELY F...Zuo De,<br /> UK Poll tax is also EXTREMELY FAIR tax. The one proposed by Maggie Thatcher. Come to think of it, why an old widow pensioner staying in a so called upmarket property pay more tax than 8 fellas staying in another property simply because it's a council flat..........But then the 8 fellas got enough money to pay or not<br /><br />Warrior seems to be fucking rich, tax himAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-22896667679745484742013-11-18T09:57:41.791+08:002013-11-18T09:57:41.791+08:00Hishamh,
The basis of GST is to broad...Hishamh,<br /> The basis of GST is to broaden the tax coverage. Well, if you have heard of the piramid, the number of rich people is smaller than the rest. So where does the rest of the money comes from? I am still against GST implementation. I strongly suggest to tax people like Warrior 231. Let say 80%Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-70729768565676794502013-11-18T09:29:03.493+08:002013-11-18T09:29:03.493+08:00Because Najib says soBecause Najib says soAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-90989259656446394562013-10-30T10:57:48.078+08:002013-10-30T10:57:48.078+08:00@anon
1. It goes more or less like this:
Income ...@anon<br /><br />1. It goes more or less like this:<br /><br />Income level RM1k, tax burden RMx<br />Income level RM2k, tax burden Rm4x<br />Income level RM4k, tax burden Rm16x<br /><br />...and so on<br />2. Looks good to mehishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-23947952733647599802013-10-29T14:46:40.583+08:002013-10-29T14:46:40.583+08:00Dear Hisham
1) What does "The tax burden ris...Dear Hisham<br /><br />1) What does "The tax burden rises faster than the income level." mean ya?<br /><br />2) BTW is the calculation in the diagram i linked accurate?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-6764328838924936422013-10-29T10:31:28.244+08:002013-10-29T10:31:28.244+08:00That's more like it, dude. ; D : D ; O
OK b...That's more like it, dude. ; D : D ; O<br /><br />OK back to work......<br /><br /><br />Warrior 231Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-37500872516092323972013-10-29T10:26:43.196+08:002013-10-29T10:26:43.196+08:00@anon
The rate of increase in housing stock acros...@anon<br /><br />The rate of increase in housing stock across the whole country is currently running at between 20k to 25k per quarter, about half the rate a decade ago. The bulk of it is in terrace housing. Between 1/2 to 2/3rds of transactions are for housing below RM250k.<br /><br />1. I agree, developers are going after higher end property development, but they've restricted supply at thehishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-8121563054640901882013-10-29T10:11:47.073+08:002013-10-29T10:11:47.073+08:00Warrior,
You're always reading to much into w...Warrior,<br /><br />You're always reading to much into what I write. Maybe I ought to use more smileys next time. :D :Dhishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-15316518547484755332013-10-29T09:52:59.846+08:002013-10-29T09:52:59.846+08:00I'm anon 11.52, and thanks for your reply.
Th...I'm anon 11.52, and thanks for your reply.<br /><br />That is precisely my point. Based on the number and size of housing loans being taken to fuel our recent housing prices, I find it very hard to believe that <50,000 earn less than RM 100,000 taxable income per annum. Even discounting for dual income households, this would certainly be surprising news to our property developer lobby thatAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-39037550392873246622013-10-29T09:16:22.603+08:002013-10-29T09:16:22.603+08:00Aw man you sound mighty miffed. Take it easy dude ...Aw man you sound mighty miffed. Take it easy dude that chick hawk thingy was just a joke, nothing more. Relax man, you economists seem to be too highly strung....hahahaha<br /><br />But you did sound a tad too skittish about the wealth tax thingy during our previous fencing bouts whenever ah suggested it. In fact you did intimate that the inheritance/estate tax option was a more palatable option Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-14499164855931843322013-10-29T00:43:56.150+08:002013-10-29T00:43:56.150+08:00@Warrior 231
No need to convince me of the superi...@Warrior 231<br /><br />No need to convince me of the superiority of a wealth tax in theory - it's the implementation that concerns me. And yes, I'd be ethnic-agnostic on this score. Who says inequality is just ethnic-based?hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-22743178259015554432013-10-29T00:41:34.112+08:002013-10-29T00:41:34.112+08:00@Warrior 231,
And to that I would add: Some of Cl...@Warrior 231,<br /><br />And to that I would add: Some of Clinton's success should also be attributed to a windfall increase in capital gains tax yield, from the Dot-Com bubble of the late-1990s.<br /><br />Note also - the biggest tax cuts under this GST proposal are for those below the RM100k income threshold. Those earning above that threshold (including, unfortunately, me) still pay the hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-86988690982523104942013-10-29T00:34:03.316+08:002013-10-29T00:34:03.316+08:00Part 2
3. Switching to another topic, namely, inc...Part 2<br /><br />3. Switching to another topic, namely, income inequality, I feel a wealth tax, levied on non-indigenous (pendatang) wealth, is long overdue in order to alleviate economic disparities. The author of link (a) below is talking of a wholly different context <br /><br />a. http://www.theaustralian.com.au/business/opinion/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-37555866252472348852013-10-29T00:17:22.412+08:002013-10-29T00:17:22.412+08:00@anon 2.10
I attended a briefing by the GST imple...@anon 2.10<br /><br />I attended a briefing by the GST implementation unit. Based on their model generated numbers, both GST and SST are fairly progressive i.e. the poor pay less in both absolute and percentage terms. It's not a small difference either. The tax burden rises faster than the income level.<br /><br />I'm ok with the approach as it stands, especially as BR1M more than hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-7484152922036222222013-10-29T00:05:25.948+08:002013-10-29T00:05:25.948+08:00@anon 12.21
This is a global, not local problem.
...@anon 12.21<br /><br />This is a <a href="http://en.wikipedia.org/wiki/Global_saving_glut" rel="nofollow">global, not local problem</a>.<br /><br />1. Essentially, corporate income taxes are now so low that further reductions do not provide additional incentive for investment i.e. the elasticity of investment to tax rates is non-linear. Instead, corporate surpluses are saved, not invested. Note: hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-70384460727718314382013-10-28T14:10:43.609+08:002013-10-28T14:10:43.609+08:00Dear Hisham
1) Thank you for the list.
2) The li...Dear Hisham<br /><br />1) Thank you for the list.<br /><br />2) The list of exempted items under sales tax is almost 300 pages whereas GST's zero-rated and exempted list is only 20 pages long. Furthermore, some people told me necessities like rice, bread and tissues are already exempted under sales tax. but now under GST items like bread and tissue paper will be charged GST. tho this will notAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-74509307448076565062013-10-28T13:36:17.228+08:002013-10-28T13:36:17.228+08:00This is a race to the bottom. Not good. A targeted...This is a race to the bottom. Not good. A targeted tax reduction for re-investment would perhaps be better, similarly, tax rebate to individual that save more would make more sense.<br /><br />Zuo DeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-19720582392479222742013-10-28T12:21:02.099+08:002013-10-28T12:21:02.099+08:00Hisham
I am a tad confused.
Why are you "op...Hisham<br /><br />I am a tad confused.<br /><br />Why are you "opposed to any cut in corporate taxes" and why are you "not overly happy with the cut in personal income tax rates"?<br /><br />I see that Thailand and Taiwan, among others, are planning to reduce their corporate tax rates.<br /><br />Singapore, as is widely known, has a corporate tax rate of 17 per cent and a top Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-85199696636272098522013-10-28T12:04:09.300+08:002013-10-28T12:04:09.300+08:00@anon 11.52
Rather amazingly, less than 50,000 ta...@anon 11.52<br /><br />Rather amazingly, less than 50,000 taxpayers (less than 1/2 percent of the labour force) will be affected by the change in the max tax band from RM100k to RM400k. Unless there's wholesale evasion of income taxes, I don't think we can call them middle class.hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-66243126669086377652013-10-28T12:00:27.031+08:002013-10-28T12:00:27.031+08:00Zuo De,
You might want to try this one. It's ...Zuo De,<br /><br />You might want to try <a href="http://oskortos.blogspot.com/2013/10/gst-6.html" rel="nofollow">this one</a>. It's in BM though.hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-77264455972275703602013-10-28T11:52:51.251+08:002013-10-28T11:52:51.251+08:00Cutting easily avoided and evaded personal income ...Cutting easily avoided and evaded personal income taxes and corporate tax rates and replacing them with GST which is far harder to avoid is more efficient IMO. Presently, honest taxpayers are subsidising tax evaders/avoiders. A lowered personal and corporate tax rate will also reduce the incentive of taxpayers to expend resources and energy to avoid/evade tax. With lowered corporate tax rates, weAnonymousnoreply@blogger.com