Zero IQ
SeaDemon Says
After Nurul Izzah announced that the GST is to remain if Pakatan comes into power, Penang’s charged-with-corruption leader Lim Guan Eng aka Tokong has corrected Nurul Izzah’s statement by saying the GST will be zero-rated for all.
In other words, no sales tax would be collected.
Going by simple bookkeeping convention if you lose something, something has to gain.
For example, according to Tokong the hike in penalties does not translate into higher water tariffs. What Tokong is saying is that if I loan you RM10,000 and ask you to pay me back RM1,000 a month plus RM500 in addition to that as a penalty, it means that you are only paying me RM1,000 even if your pocket is RM1,500 lesser every month.
Therefore, at the end of 10 months you would have paid me RM15,000 but I give you receipts totalling only RM10,000.
This is the logic given by Tokong to justify his wanting to increase water tariffs for the fourth time since being in power.
