Comments on: Rich Germans ask for higher taxes http://anilnetto.com/corporate-led-globalisation/neo-liberal-economics/rich-germans-ask-for-higher-taxes/ Let justice flow like a mighty river Sun, 12 Feb 2012 10:47:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Sean http://anilnetto.com/corporate-led-globalisation/neo-liberal-economics/rich-germans-ask-for-higher-taxes/comment-page-1/#comment-35222 Sean Sun, 29 Nov 2009 03:14:43 +0000 http://anilnetto.com/?p=16828#comment-35222 Just for the sake of posterity, I found an URL (doesn't seem like the article I remember) at TMI with the 'ten percent' quote in: http://tmi2.themalaysianinsider.com/index.php/opinion/liew-chin-tong/41422-time-najib-meant-business--pauline-ng Does Malaysia really have an 11-million workforce in a population of 27 million? I suppose that could be about right ... if the replacement ratio was 1 adult: 1 child and a working age of 18-50 with a life expectancy of 70 years. Perhaps greater fecundity might be offset by adult-skewed immigration. It would be interesting to see the raw figures. The quote says "ten percent ... /pay tax/", so it's not the same as 'declare an income' - that may be creative writing on my part. Just for the sake of posterity, I found an URL (doesn’t seem like the article I remember) at TMI with the ‘ten percent’ quote in:
http://tmi2.themalaysianinsider.com/index.php/opinion/liew-chin-tong/41422-time-najib-meant-business–pauline-ng
Does Malaysia really have an 11-million workforce in a population of 27 million? I suppose that could be about right … if the replacement ratio was 1 adult: 1 child and a working age of 18-50 with a life expectancy of 70 years. Perhaps greater fecundity might be offset by adult-skewed immigration. It would be interesting to see the raw figures.

The quote says “ten percent … /pay tax/”, so it’s not the same as ‘declare an income’ – that may be creative writing on my part.

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]]> By: looes74 http://anilnetto.com/corporate-led-globalisation/neo-liberal-economics/rich-germans-ask-for-higher-taxes/comment-page-1/#comment-35185 looes74 Fri, 27 Nov 2009 05:39:58 +0000 http://anilnetto.com/?p=16828#comment-35185 Anil, Germany does have VATs. Very high VATs. I think we should work on ways of how to bring food on the tables for the poors. Development first! The rest later. Why not introduce Working Credits? Negative tax? Singapore has introduced it. Singapore Shares, creating a stakeholders among all Malaysians. Not that ASN ... LGE has elaborated this in details Anil,
Germany does have VATs. Very high VATs. I think we should work on ways of how to bring food on the tables for the poors. Development first! The rest later.
Why not introduce Working Credits? Negative tax? Singapore has introduced it. Singapore Shares, creating a stakeholders among all Malaysians. Not that ASN …
LGE has elaborated this in details

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]]> By: Sean http://anilnetto.com/corporate-led-globalisation/neo-liberal-economics/rich-germans-ask-for-higher-taxes/comment-page-1/#comment-35180 Sean Fri, 27 Nov 2009 02:09:40 +0000 http://anilnetto.com/?p=16828#comment-35180 I'm not convinced by arguments against a value added tax. I grew up in the UK, and while anything with 'tax' on the end is met by complaints, I have never heard the argument about 'regressive tax' until I moved to Malaysia and followed the links to USA websites also making the same complaint. In the UK I think most goods are subject to VAT, though many are reduced-rate and some are zero-rate. Most (non confectionery) food, public transport, water, children's clothes (when I did a lot of sport at Uni, I often bought clothes frmo the 14-year old aisle, I was so thin and so poor!) for example are all zero-rated or exempt: http://www.hmrc.gov.uk/VAT/forms-rates/rates/goods-services.htm I think it's important to avoid just taking sides on an issue without exploring all the possible consequences. It would be interesting to see what detailed effect a change in taxation would have for people in different circumstances. Didn't I read somewhere that Sergey Brin has a 'nominal income' of 1 dollar per year? Try "sergey brin salary" at Google. How much income tax will he - a man who has his own Boeing 767 - pay on his one dollar? I read recently too - perhaps at TMI - that only 10% of Malaysians declare an income. Perhaps that's why they dread GST so much! I’m not convinced by arguments against a value added tax. I grew up in the UK, and while anything with ‘tax’ on the end is met by complaints, I have never heard the argument about ‘regressive tax’ until I moved to Malaysia and followed the links to USA websites also making the same complaint.

In the UK I think most goods are subject to VAT, though many are reduced-rate and some are zero-rate. Most (non confectionery) food, public transport, water, children’s clothes (when I did a lot of sport at Uni, I often bought clothes frmo the 14-year old aisle, I was so thin and so poor!) for example are all zero-rated or exempt:

http://www.hmrc.gov.uk/VAT/forms-rates/rates/goods-services.htm

I think it’s important to avoid just taking sides on an issue without exploring all the possible consequences. It would be interesting to see what detailed effect a change in taxation would have for people in different circumstances. Didn’t I read somewhere that Sergey Brin has a ‘nominal income’ of 1 dollar per year? Try “sergey brin salary” at Google. How much income tax will he – a man who has his own Boeing 767 – pay on his one dollar?

I read recently too – perhaps at TMI – that only 10% of Malaysians declare an income. Perhaps that’s why they dread GST so much!

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]]> By: karma http://anilnetto.com/corporate-led-globalisation/neo-liberal-economics/rich-germans-ask-for-higher-taxes/comment-page-1/#comment-35176 karma Thu, 26 Nov 2009 13:24:52 +0000 http://anilnetto.com/?p=16828#comment-35176 Will the 4 percent go to the government? I doubt. Businessmen have ways to circumvent the need to pay to the government. WIll they charge 4 percent? No. They will charge more to the customers by increasing the prices of goods. Will the rich be affected? Not really. They have the money to spend. WIll those earning less than RM3000 be affected? Yes. The poor in general will be affected. In this business culture of ours, prices of goods will shoot up. The end result: inflation and the poor will suffer more. This is a stupid way of managing the economy. Don't our politicians have better ideas on how to collect revenue for the government? That's the problem when we vote for leaders who are blank about the economy. Will the 4 percent go to the government? I doubt. Businessmen have ways to circumvent the need to pay to the government. WIll they charge 4 percent? No. They will charge more to the customers by increasing the prices of goods. Will the rich be affected? Not really. They have the money to spend. WIll those earning less than RM3000 be affected? Yes. The poor in general will be affected. In this business culture of ours, prices of goods will shoot up. The end result: inflation and the poor will suffer more. This is a stupid way of managing the economy. Don’t our politicians have better ideas on how to collect revenue for the government? That’s the problem when we vote for leaders who are blank about the economy.

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]]> By: Nick http://anilnetto.com/corporate-led-globalisation/neo-liberal-economics/rich-germans-ask-for-higher-taxes/comment-page-1/#comment-35170 Nick Wed, 25 Nov 2009 22:06:16 +0000 http://anilnetto.com/?p=16828#comment-35170 and ye,they'll argue our country's gross margin of income is low..subsidy increased...bla....bla....U know the rest. and ye,they’ll argue our country’s gross margin of income is low..subsidy increased…bla….bla….U know the rest.

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]]> By: Sean http://anilnetto.com/corporate-led-globalisation/neo-liberal-economics/rich-germans-ask-for-higher-taxes/comment-page-1/#comment-35166 Sean Wed, 25 Nov 2009 17:30:45 +0000 http://anilnetto.com/?p=16828#comment-35166 Not only does Germany have a better class of rich people, they have better criminals too: http://news.bbc.co.uk/2/hi/europe/8376532.stm I think progressive tax models might scare people who aren't so good with numbers. I think it ought to be possible to effectively tax people with only 1 or two bands (with perhaps a wide zero-band, or a decent across-the-board tax-credit), topped up with taxes on non-essential services, products and investments that the very rich are likely to spend a disproportionate amount of money on. For the Malaysian situation, I'm not at all sure it's easy to judge what's best. So little is known about where money comes from and where it goes to, fiscal policy might as well be divined from goat's entrails. Not only does Germany have a better class of rich people, they have better criminals too:
http://news.bbc.co.uk/2/hi/europe/8376532.stm

I think progressive tax models might scare people who aren’t so good with numbers. I think it ought to be possible to effectively tax people with only 1 or two bands (with perhaps a wide zero-band, or a decent across-the-board tax-credit), topped up with taxes on non-essential services, products and investments that the very rich are likely to spend a disproportionate amount of money on.

For the Malaysian situation, I’m not at all sure it’s easy to judge what’s best. So little is known about where money comes from and where it goes to, fiscal policy might as well be divined from goat’s entrails.

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]]> By: Shaun McKristal http://anilnetto.com/corporate-led-globalisation/neo-liberal-economics/rich-germans-ask-for-higher-taxes/comment-page-1/#comment-35161 Shaun McKristal Wed, 25 Nov 2009 15:39:37 +0000 http://anilnetto.com/?p=16828#comment-35161 Thanks for the info Anil. Issue of inequality in Malaysian context nicely argued in <a href="http://paksako.blogspot.com/2009/10/statement-about-going-from-middle.html" rel="nofollow">this blog also</a> bro. Thanks for the info Anil. Issue of inequality in Malaysian context nicely argued in this blog also bro.

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