The pandemic: Rich Thais get richer and low income earners get poorer

[Surelynot]

9 minutes ago, EricTh said:

What is the government doing? Our bank account balance should be confidential! 

 

Why are they looking at our bank accounts whether it is going up or down?

Anonymised data?

[dinsdale]

It's the way it is here. Money and power means everything and at any cost. Remember most of the ones at the top are Thai/Chinese. Can't expect anything different. Wealth/Power/Corruption/Grandiosity/Megalomania etc. No way do these people care about anyone but themselves. Unfortunately this perviates throughout Thai society to anyone who deems themselves to have power over others.

Edited July 6, 2021 by dinsdale

[Jai Dee]

Several off-topic posts about the US taxation system have been removed.

[from the home of CC]

and why would it be any different than the rest of the world which has followed this scenario FOREVER...

[NeoDinosaw]

5 hours ago, ThailandRyan said:

It is the business model.  Those with money make money while those without get even poorer as inflation ramps up prices.

It's called capitalism.  Only filthy socialist pigs want a fair and equitable system !

[Heng]

There's no way to fix (through legislation) people's personal choices (some good, some less so) over the course of a lifetime and across generations.   

[kynikoi]

The lack of general education, financial understanding mixed with draconian lending laws makes Thailand an absolutely toxic place for the ignorant and ill informed. Young people, impulse buying become shackled to debt. The whole predatory lending system should be scorned by world media.

 

Some billionaire could do huge amounts of good by starting a debt assistance program complete with basic education in finance and planning.

[metisdead]

An off topic post about England/UK and the replies have been removed. 

[hotchilli]

6 hours ago, webfact said:

Those with deposits of 100,000 baht and less were continually going down.

 

Yet those with 100 million baht were continually going up.

Amazing analogy... out of work and living off savings or propping up a closed business.

Or those sitting on millions with interest coming in monthly.

[hotchilli]

6 hours ago, Henryford said:

Many of the big Pharma companies were heading for bankruptcy in 2019. Now most of the CEOs are billionaires.

Make hay while the sun shines...

[realfunster]

6 hours ago, Henryford said:

Many of the big Pharma companies were heading for bankruptcy in 2019. Now most of the CEOs are billionaires.

 

Please identify the ‘many’ big Pharma companies heading for bankruptcy in 2019. Despite having a broad range of investments in US/European and UK companies, I somehow missed all these impending bankruptcies.

 

Please provide a list of the ‘most’ pharma CEOs that are now billionaires.

 

Alternatively, if finding facts is a bit tedious and mundane compared to throwing around broad generalizations, I suggest you read below and try to raise your skepticism levels. 

 

The Big Pharma conspiracy theory is a group of conspiracy theories that claim that the medical community in general and pharmaceutical companies in particular, especially large corporations, operate for sinister purposes and against the public good, and that they conceal effective treatments, or even cause and worsen a wide range of diseases.

[Andycoops]

Not really news as it's the same in most countries.

Why do you think they rig it to stay in power for 7 years? because the offshore accounts are receiving the dollars while the ordinary citizens suffer.

[digger70]

The pandemic: Rich Thais get richer and low income earners get poorer. 

 

Nothing new about that that's normal these days, Happening All over the world.

[kennw]

8 hours ago, Neeranam said:

Not very fair is it?

Everyone should be taxed the same.

Sorry to disagree but progressive taxation is much fairer to the lower income earners.  Twenty % of 10,000 hurts much more than twenty % 0f 10,000,000.  

[Sydebolle]

What I was wondering is, why nobody mentioned the "middle class" which has all but disappeared again in this "pandemic" of theirs. 

Hundredthousands if not millions will have to move out of unpaid houses, return unpaid cars and motorbikes and have lost basically everything they ever had. Yes, it is their fault to want things they cannot afford but that has to do with education; latter the responsibility of the .......

Vicious circle of fiasco! 

[bert bloggs]

Its the rich what gets the pleasure and the poor what gets the pain.

[Henryford]

16 hours ago, realfunster said:

 

Please identify the ‘many’ big Pharma companies heading for bankruptcy in 2019. Despite having a broad range of investments in US/European and UK companies, I somehow missed all these impending bankruptcies.

 

Please provide a list of the ‘most’ pharma CEOs that are now billionaires.

 

Alternatively, if finding facts is a bit tedious and mundane compared to throwing around broad generalizations, I suggest you read below and try to raise your skepticism levels. 

 

The Big Pharma conspiracy theory is a group of conspiracy theories that claim that the medical community in general and pharmaceutical companies in particular, especially large corporations, operate for sinister purposes and against the public good, and that they conceal effective treatments, or even cause and worsen a wide range of diseases.

How about :-

 

1. Stephane Bancel Moderna  $4.3 billion

2. Ugur Sahin BionTech $4 billion

3. Timothy Springer Moderna $2.2 billion

4. Noubar Afeyan Moderna $1.9 billion

5. Juan Lopez-Belmonte Moderna contractor $1.8 billion

6. Robert Langer Moderna $1.6 billion

7. Zhu Tao CanSino $1.3 billion

8. Qiu Dongxu Cansino $1.2 billion

9. Mao Huihua Cansino $1 billion

 

 

[Neeranam]

16 hours ago, kennw said:

Sorry to disagree but progressive taxation is much fairer to the lower income earners.  Twenty % of 10,000 hurts much more than twenty % 0f 10,000,000.  

no bother disagreeing

 

Everyone should get the same personal allowance. In Thailand, if you earn 10,000 baht a month, you pay no tax. I think I get allowance for 40k a month. Anything over that I get taxed. Having a higher tax rate for earning more is wrong. 

[placeholder]

23 hours ago, Mr Meeseeks said:

Tax is legitimised theft from the poorer classes to the rich and has always been thus since their inception of landowners demanding tribute from those on the land.

 

You should be able to have a say in what your entire tax contribution is spent on and how if indeed taxes are still a thing in the coming decades. 

 

Hopefully with the advent of new technologies we are not far off this. 

Which is why the rich have always been in favor of higher taxes?

[Mr Meeseeks]

Just now, placeholder said:

Which is why the rich have always been in favor of higher taxes?

"Tax avoidance is the use of legal methods to minimize the amount of income tax owed by an individual or a business. This is generally accomplished by claiming as many deductions and credits as are allowable."

[placeholder]

1 minute ago, Mr Meeseeks said:

"Tax avoidance is the use of legal methods to minimize the amount of income tax owed by an individual or a business. This is generally accomplished by claiming as many deductions and credits as are allowable."

That is a response the rich have to taxes. It says nothing about whether they are in favor of them or not. And given the huge amounts of money wealthy individuals and corporations historically spend to fight increased taxes it makes nonsense of the assertion.

[Neeranam]

8 minutes ago, Mr Meeseeks said:

"Tax avoidance is the use of legal methods to minimize the amount of income tax owed by an individual or a business. This is generally accomplished by claiming as many deductions and credits as are allowable."

There are many illegal methods too, that are widely accepted here, like charitable donations. 

[findlay13]

Same in Australia the rich making a killing the poor going backwards

[billd766]

On 7/6/2021 at 10:15 AM, mtls2005 said:

 

Tax the rich...

 

 

At the Labour Party conference on 1 October 1973, he said, "I warn you that there are going to be howls of anguish from those rich enough to pay over 75% on their last slice of earnings".[29] In a speech in Lincoln on 18 February 1974, Healey went further, promising he would "squeeze property speculators until the pips squeak."

 

https://en.wikipedia.org/wiki/Denis_Healey

[metisdead]

An inflammatory post has been removed. 

[connda]

The pandemic: Rich Thais get richer and low income earners get poorer


The government is directly responsible for dictating that small and medium businesses are non-essential and can be locked-down on a whim and all major corporate interests owned by wealth Thais are labelled "essential" and are allow to remain open and prosper. 

Little people and commoners get crushed.
The wealthy rake in the cash.

Perfect planning and is the template used pretty much world-wide.