Tax the rich in Malaysia to pay back the national debt and increase social spending!
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The PH government announced setting up a fund to raise money through public donations to pay off the national debt of nearly a trillion RM. This is a scam. This debt ridden economic system is nothing new and it only benefits the richest of the rich in any society. Last year, top 40 richest people in Malaysia increased their wealth by nearly 30% while the bottom half of the nation is suffering from inflation and austerity measures. The wealth of the 40 richest in Malaysia amounts to nearly 300 billion ringgit and they continue to increase their wealth on a yearly basis. All this while the general wealth of more than 70% of Malaysians are on decrease yearly. It is clear that the debt ridden economic system only favours the top elite of the society and they should bare the cost of it. Ordinary working people dont have to pay for a debt that had never benefited them in any way. Tax the rich, introduce progressive corporate taxes to the billionaire class. Corporations which enjoyed prosper and profit due to the sweat and blood of the working class should learn to pay for their own debt.
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