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Friday, May 28, 2010

Najib Should Apply Energy Tax on the Rich, not Put Burden on Average Income Earner

In Idris’s latest proposal, he is quoted as saying:


He also said that approximately 70 percent of the government's liquid petroleum gas (LPG) subsidy goes to commercial concerns and not the intended households.


No one ever denies that commercial entities are the main beneficiaries of government subsidies. For example, the Independent Power Producers enjoys gad subsidy up to RM13 billion a year.

My question to Najib Tun Razak is, why couldn’t Barisan Nasional apply energy tax on commercial entities that uses the bulk of the subsidies?

The BN government loves corporations more than they love the average citizen?
What is stopping the Najib administration from applying energy tax to recoup part of the subsidy given out?

Another option is the “Gasoline(Petrol) Guzzler Tax (GGT)”. The tax is applied in America to discourage wastage and to save the environment. Since only rich people and major corporations can afford high powered vehicles that uses more gasoline to the mile, such tax will help to spread the subsidy to the poor and the needy.

The tax is applied upon any vehicles that uses more than 22.5 gallon per mile. ( 1 gallon = 3.7854118 liters). To read more about the tax, please click here.

Such idea would be great for Malaysia because Malaysians is required to renew their road tax every year, anyways. Therefore, the tax will be applied each time their road tax is renewed.

At the same time, corporations can be offered tax credit should they prove to the government that they too practice energy conservation. This way, government subsidies can be applied to the poor and the average families, and not abused by major corporations.

MALAYSIA BECOMING GREECE?

I will write more about this in another time, but suffice to say, our oil money has been abused by years and years of Barisan Nasional corrupt and irresponsible governance. Becoming like Greece is something that is expected of Malaysia unless we kick Barisan Nasional out.
Tulang Besi


M'sia likely to be net oil importer by next year
May 27, 10 3:26pm

Malaysia is likely to become an oil importer as early as next year at the current rate it is consuming petroleum, Minister in the Prime Minister's Department, Idris Jala, said today.

Malaysians continue to be among the highest fuel consumers per capita in the world fuel consumption habits pattern which generally has remained relatively unchanged despite increased oil prices in 2008.

He also said that approximately 70 percent of the government's liquid petroleum gas (LPG) subsidy goes to commercial concerns and not the intended households.

About 30 per cent of the cooking oil subsidy is also abused, he said.

He said the government is proposing to phase out the petrol subsidy gradually in line with its move to strategically position Malaysia's economy on a stronger footing to realise the aspirations of Vision 2020, which is to achieve a developed, high-income nation status.

"Subsidies are an inaccurate representation of trade," Idris said when officiating the Subsidy Lab Open Day in Kuala Lumpur to receive feedback from the public on subsidies.

"In addition, they pose a fiscal burden that emerging economies such as Malaysia should move away from. As such, we desperately need an exit strategy for subsidies, as they are unsustainable," he said.

"In order to save the country, we need to increase our GDP, Malaysians need to be aware we are giving the highest subsidies - 4.6 percent of GDP even higher than Indonesia (2.7 percent) and Philippines (0.2 percent)," said Idris, who is also the chief executive officer of the Performance Management and Delivery Unit (PEMANDU).

Malaysia is one of the most subsidised nations in the world. Its total subsidy of RM74 billion in 2009 is equivalent to RM12,900 per household.

This covers the areas of social (RM42.8 billion), fuel (RM23.5 billion), infrastructure (RM4.6 billion) and food amounting to RM3.1 billion.

"All savings to reduce these savings are intended to reduce our deficit and debt of 103 billion in five years," he said.

Meanwhile, studies by Bank Negara have shown that inflation will rise to four percent (2011-2012) and three percent post 2013.

Subsidies only result in market distortion and they drain the government of much needed funds that could be better used for more strategic and pressing development projects for the rakyat, Idris said.

"The time for subsidy rationalisation is now," he said.

"We are reviewing the possibility of introducing a floating price mechanism, mitigation measures and assistance needed to put in place."

"We do not want to end up like Greece with a total debt of 300 Euro billion. Our deficit rose to record high of RM47 billion last year."

"If the government continues at the rate of 12 percent per annum, Malaysia could go bankrupt in 2019 with total debts amounting to RM1,158 billion," he cautioned.

- Bernama



6 comments:

Anonymous said...

This Idris Jala guy ada sikit sakit mental, otak not center.

He is talking of Malaysia's oil subsidy for the next 20 years @ RM200 billion, well, if that is the case, the Malaysian Government, preferably PR can definitely continue with the subsidy as it only costs the Government 10 billion per annum. Corruptions, it was widely reported cost the country 28 billion RM a year. IF PR wins the election and combat corruptions, like in Penang, there is just no reason why we cannot continue the subsidy.

This Idris Jala, talks cock most of the time like all those UMNO goons, by the way, where is the Gerakan KPI Minister? Idris Jala talks more than KTK does, signs of a weak leader.

Idris Jala gazed into the crystal ball and forecast into it and starts plucking figures in the air to spin to Malaysians for his political masters and his own selfish gain.

On the basis that Idris Jala had projected, it is childish at best and not true at all. Anyway do you expect anything honest from the Government, anyway? Idris Jala, can you tell Malaysians what the cost of money on 363 billion RM per year, which is Malaysia's accumulated debts?

Another thing apa sudah jadi to Malaysia? Block L & M sudah hilang, Singapore KTM land sudah digadai, hospital hospital utama negara kononnya akan di gadai juga kepada pelabur pelabur dari Eropah/USA/Timur Tengah? Walaubagaimana pun Malaysia gagal memperolehi 1billion USD yang Malaysia hendaki.

What is instore for Malaysians are GST, starting at 4%, is there any guarantee that it will not be 20% five years from now, understanding how "caring" our Government is?

Judi bola sudah diluluskan, mampus rakyat, terutamanya bangsa Melayu dari UMNO yang suka judi seperti judi nombor 4d, Melayu PAS tak judi langsung! Protes judi bola PAS perlu dihormati kerana berjuang untuk bangsa dan Agama!

Withdrawal of subsidies on fuel and many other essential items will further only make life harder for those poor. No wonder the richest in Malaysia become richer and the poorest become poorer.

Masanya sudah tiba Malaysia, bangkit Rakyat, Melayu, Cina, India, Kadazan, Iban, Melanaus, Dayaks dll, bangkit dan kuburkan UMNO Baru/BN dalam pilihan raya umum akan datang! Bangun, bangkit Melayu, lawan penghianat bangsa dan Agama UMNO Baru! Beramai ramai kita sertai PAS dan PR!

Selamatkan Malaysia, kuburkan UMNO Baru/BN!

UMNO Baru/BN tauke judi didahulukan, judi bola diutamakan! Kurang ajar BN/UMNO baru kerana menghalalkan yang haram disisi Agama Islam! Langsung tidak hormati Agama Islam! Mana si katak Ibrahim juara lompat? Bersekongkol dengan tauke judi ke, untuk menjatuhkan Agama Islam dan Bangsa? Barua Perkasa, tipu bangsa dan Agama!

Dilaporkan katak katak dari Bayan Baru dan Kulim/Bandar Baru kini ada di Jakarta dengan tuannya dari UMNO Baru! Mereka lompat kerana bangsa dan agama! Ptuui! Munafiq dan penghianat bangsa, Agama dan negara!

Anonymous said...

kahkahkah..10% growth!!..our currency rising!!...our rating vely good..ptuih @ para pookimak lanchau neanderthal feudal retards!!..this affliction is happenin everywhere..in europe,in united states of bankrupt.. feudal elites must not be taxed..elites only must live,the rest must suffer..ooo..country will go bankrupt..yes..due to rakyat kah?who stole trillions of RM?chootia elites!!who has wasted trillions in all sorts of pak man telo projects like bakun,twin towers,cyberjaya,excessive leverage during the 90's?para cacat neanderthals n cro magnon elites!!pendek kata,its the ruling elites who bikin taik,rakyat the majority who bayar mcm mcm cukai didera!!REVOLT!!REVOLT!!REVOLT!!

Anonymous said...

Mystery Malaysian Big Spender Living It Large
2009.11.10

023_taek_jho_low_usher--300x300.jpg

From KL to London to New York, a certain mystery Malaysian man is living it large. From a reported spending of $160,000 on a bar tab a Chelsea's hotspot, Avenue, to $50,000 to $60,000 on routine club visits to Pink Elephant and living in a $100,000 a month apartment in the Park Imperial, the nightlife scene is abuzz with the man that goes by the name of Jho Low.
http://menknowpause.fooyoh.com/menknowpause_lifestyle_living/4277020

ooo..jgn kacau the ruling elites..they r the specel breed o..thye got money..those got money,r tuhan o..very specel being o..thye must b protected o..they r the penjana ekonomi o..podah ptuih!!for a very long time,eonomic polices almsot all over the world is pro cukong bizniz anti pekerja..the result is huge rise in income disparity between the rich n poor,poverty n social economic chaos..studies have shown that those cukong caking nenaderthasl r biggest wasters of money..they r not entreprenuel at all..like that mandarin pariah above..wasting millions in bling bling..thats what almost every chootia elites do..they want money in order to have endless fun n sex,bling bling,buy mansion n luxury cars in order to continue fucking spree..they have insects buzzing in thier stoopid brains..they r retrograde sub humasn with temporary power!!

Anonymous said...

Any country dat got ootang melebihi dia punya income is in danger of becoming greece..malaysia falls into greece category..problem with dis country is on one side there is this group led by chootia anglo retards,n on the other side is al auta al dunggu arabi..in between is the rakyat who dont give a damn about those 2..rakyat jauh lebih practical,have comman sence..simple,practical,comman sence solutions,as being demonstrated by states under Pakatan's ruling need to be applied on national level..in the end,rakyat terpaksa turun jalan raya utk menyelamtkan dis country..

Anonymous said...

Wesak Day (May 28, 2010)

That brings me to Wesak that will be celebrated by Malaysians of Buddhist faith, and people all over the world, tomorrow. To most Buddhist, the significance of Wesak lies with the Buddha and his universal peace message to mankind which coincided with three important events corresponding to the three watches or periods of the night.

From the Buddhist point of view, the purpose of life is to put an end to suffering and all other forms of unsatisfactoriness. The ideals propagated by Buddhism can similarly be found in Islam. Like Buddhism, Islamic teachings would lead to excellence in morality, mental culture and wisdom. The noble truth is that all religion teach goodness.http://dinmerican.wordpress.com/

man..i feel like walloping this anglo basterd.."excellence in morality"..."universal peace"....betui betui meluat bila baca artikel2 mcm ni..they live in thier stoopid dunggu world..not a single drop of spritual realistion but clever to tok kok!these basterd r agents of falsehood too!!

Anonymous said...

Why our chootia gomen making a 180deg u turn?dulu cakap our fundementals r okay..our growth/rating solid..n para pelawak financial analyst yg suka hidu n jilat pungkoq gomen pulak kasi thumps up @ our chootia gomen's fiscal policies..why?..sebab gomen nak pinjam lagi!!nak issue billion billion worth of bon..in order 2 attract bon buyers,kenalah bikin drama..so,ikut IMF style austerity measureslah..

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