proposed by Ng Kong Leng
Malaysia should have zero tax by 2050. “Zero tax” — no income tax, no corporate tax, no GST.
Why tax is bad?
- any government in the world do not often make the right economic and financial decision in allocating tax revenue for the right purpose;
- tax deters company to invest more in local economy, e.g. Apple does not manufacture iPhone in US;
- tax deters a person to attain higher income, there is no incentive for you to work harder because you need to pay more tax;
- tax deters economy growth, especially on consumption as tax had taken away disposal income
What is the solution?
- Crowd funding or Equity Funding
- Economic Efficiency via Pareto Improvement