December 5, 2008

Tax cut, salary cut and I need a hair cut

Mia
Tax Cut and Salary Cut
Everyone is always welcome a tax cut but never a salary cut. However, the government will take both of them into consideration when it suffers serious deficit. Theoretically, the way the government control the expenditure decides its financial revenues. For the past six months, KMT government has broken the record of accumulating 700 billion dollars in debt, almost the figure of tax money in six months. It is worthwhile to take a salary cut into account starting from the president, vice president, every ministry, executives of all departments to public servants of all levels.

When President Ma promoted his twelve I-Taiwan projects during his presidential campaign, he should have started to finance aggressively. In fact, using tax cut as the solution to the current fiscal calamity plus accepting the slogan of saving the economic crisis even in debt from Paul Krugman, tax cut and expanding fiscal policy, is rare one which flatters both the rich and the poor. Moreover, there is not even a country cutting the tax of the rich around the world, while it is likely to charge extra tax money from the rich in the U.K and the U.S. In Taiwan, however, we build Asset Management Center for the rich, and develop tax avoidance for the rich.

Ma administration advised everyone to fight against the economic downturn together, enduring the suffering of unemployment and dwindling salary while his monthly salary is still as high as 462’000 NT dollars. In the eyes of 50’000 unemployed and their family, they can only feel miserable and ironic.

Because of the economic stagnation, officials of Singapore government have already had their salary cut. Some well-intended KMT lawmakers publicly call the Ma administration to follow Singapore’s step. In order to assuage the pressure of deteriorating finance and give the regards to the public for cutting the rich’s tax which later becomes the debt of next generation, the decision makers should answer the call as soon as possible.

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