In recent event pertaining to Malaysia, we were told the country had to cut down on it's subsidies else Malaysia would be bankrupt by 2019. Now that statement was quite bewildering for us money-sucking laymen. Now why is this? After all, we are an oil producing country that is charging the citizen very high premium compared to other oil producing countries. We are coming off a very strong GDP growth, highest in 10 years. We look to be headed towards those pre-currency crisis days of 97. Our foreign reserves have never been higher and we are doing extremely well against major currencies. So what seems to be the problem?
Maybe this Chindian is too layman and giving a very simplistic view. So let's here your views out there. Write in, be bold. Tell us how to save money for the country. Let's take a look at how a country typically makes money.
1. Taxes from personal and companies
2. Foreign investments
3. Corporatization
4. Taxes from sales of imported goods
5. Natural resources
6. Services revenue
7. Creating more jobs so that more taxes can be collected and earning power increases to increase corp taxes.
So from these areas, what can we do. Here are some of my views.
1. We should not cut EVERY subsidy. Some should be cut. For example, those favouring only one race. We should have funds to help the poor regardless of race and not just one race. We have this one race people earning hundreds of thousands a month and still getting study loans (which they don't pay), farming subsidy, small businesses subsidy, etc.
Cut out the subsidies to the rich and favouring only 1 race. Go by salary.
2. Study loan defaulters
- those defaulters should be taken to jail and declared a bankrupt. Treat them like any bank loan defaulters. If still persists, use jail terms.
- get better collaterals or guarantors
- like hire purchase, hold back their degrees until they pay.
3. Get corporates like Tenaga and Telekom to share the burden. Don't just leave it to Petronas. On that note, get Petronas to shell out more. Where are all the billions of profits going? These are profits not revenue. If the government corporatizes, doesn't that mean the profits belong to the government? Doesn't that in turn mean, it belongs to us?
4. Tenders
- Any Malaysian company can participate and will be based on merits
- No more middle men to siphon money for their own use
- No more inflated prices to pay off contacts and people in power
- Let's follow China. Corrupted people will be shot and the bullet billed to their families. All these after we confiscate their property.
5. Mega projects
- These are fine as long as they benefit the public. Follow rule 4 in tendering.
- F1, Putrajaya, KLIA are fine. Concrete gates across highways like that bordering Selangor and KL are pure bullshit.
6. Royal family
- Just what exactly does the royal families do? Besides beating people up in, inbreeding and have high profile affairs to over-compensate. Granted I am generalizing. I do very high respects for the Perak royal family, Kedah and the current Selangor Sultan. But they got to do more. We are spending millions a month on them and they have to find ways to give it back. I would want to see these royal families take the initiative to kick start this.
7. Prison inmates
- Let's get them to do free labour so that we save on the cost of hiring foreigners. Invest in ankle bracelets so that we can track their whereabouts.
- Constructions - building or roads.
- Parliament
- Debt collectors - this way we get rid of the Ah Long problem as well.
- Trash collectors, road sweepers, McDonald's cleaning crew, etc.
8. GLC bailouts
- Get a corp team which the right qualifications to work on getting the right partner for Proton, instead of this mis-managed company bleeding us dry. Get a foreign CEO like what Nissan did to turn it around. After all Perodua is doing extremely well.
- Sell off companies under PNB, PUNB, Khazanah or any other investment arm of UMNO that is not profitable for more than 3 years.
9. Additional taxes
- Restaurants who hire foreigners that can't speak the language : 10% tax
- People who park their cars wantonly with no consideration of those around them
: 20% tax and taken out to be flogged
- Law enforcers who commit crime and corruption : 50% tax and placed in prison population of molesters and rapist.
- Lawyers : 20% for being lawyers
- Certain races of people who are eligible for taxes but not collected either due to cronyism or just laziness : confiscate property.
- People who can't control their children but still take them out to public places like restaurants or airplanes while their children scream, poop and create a massice public nuisance : 35% tax, their children be given to military school for 3 months and the parents be strapped to straight jackets while listening to Donny and Marie Osmond songs all day. If they like Donny and Marie, then ACDC.
- people who smoke in public, non-designated areas : 20% tax and an additional does of cancer cells.
- Smokes in air-conditioning places or toilets : 50% tax and to contribute monthly to save cancer patients.
- Cigar smokers : 40% tax
- Companies who employ telemarketeers that call you regarding something you didn't sign up for : 60% tax and tied up to a chair and kicked down the stairs.
These are just some GREAT ideas but I know you have more. Send them to me either via this page or at apd15@hotmail.com and I will post your suggestions.
The country needs you! Step up now and do your part! Ask not "What can my country do for me" but ask "why the hell are we going bankrupt??".
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