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Message: <blockquote data-quote="funfer_fahrer" data-source="post: 336206" data-attributes="member: 2733">Instead of worrying about losing tax revenue, why don't we ask this question - who is going to pay for the RM7 billion stimulus package knowing the fact that the amount of money spent can be reduced if the government make minor adjustments in its policies?  Conventional wisdom would suggest that in this trying times everything must go up - from interest rates to taxes.  However, I beg to differ.  Apart from interest rates, taxes must also go down especially taxes related to automotive industry because this industry is the slowest at the moment.  So far, there have been cuts in EPF contribution but that is too little considering our inflation rate is quite high.  When the economic turmoil hit our biggest trading nation United States, this should have sent a strong signal to our government.  Something must be done.  Unfortunately, we were a bit late to respond.  That 7 billion package is the answer to all these when in fact many things could have done earlier to reduce the amount.  We do not want to be like Iceland with a collapsed government.  On the other hand, we also do not want to be like Japan.  Even after interest rate being reduced to 0%, so far nothing has happened.  In fact, the Japanese government is getting worried because their currency value is getting stronger and stronger.  This would definitely affect their export market.  Also, the latest in Japan I heard Louis Vuitton is having sale and started giving discounts, which is something unheard of.  Reducing taxes means cheaper price.  People actually spend more when things are cheaper.  For example, during the mega sale business owners are the ones who look forward to this annual event, not the consumers.   Less is best. Cheers</blockquote>

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