Brief remarks about Najib’s first budget
By Lee Wee Tak
So Najib delivered his first budget today, dropping the term “1Malaysia” here, there and everywhere.
This blog post is not designed to heap praise on him. BN has full time and well paid (by whom?) politicians and journalists doing that. I am viewing his maiden performance as a tax payer who foots part of his salary and benefits.
We do have the annual incremental goodies – increase of personal relief and insurance premium relief by RM1,000, offset by re-introduction of real property gain tax at 5%.
The funny thing is Najib spoke about the concern about credit card debts and the solution is imposing RM50 and RM25 respectively on principal and supplementary cards.
The sums look innocent enough until I saw this . As at August 2007, the total number of principal and supplementary cards in Malaysia was 8.22 million and 1.15 million respectively. Apply the 2 tax and the total additional collection is a whopping RM440 million!
READ MORE HERE: http://wangsamajuformalaysia.blogspot.com/2009/10/brief-remarks-about-najibs-first-budget.html
