Korn Attacks Thai Governments Pro-Rich Approach: Budget Debate

[zyphodb]

Voted in by the poor working for the rich, true Thai democracy!

sounds exactly the same as in the UK.... sad isn't it....

[belg]

mhhhh, the poor don't pay taxes, so it's the middleclass that always had to carry the burden of the rich and stupid

[geriatrickid]

mhhhh, the poor don't pay taxes, so it's the middleclass that always had to carry the burden of the rich and stupid

In Thailand, the poor most certainly do pay taxes. It's called the VAT. Unlike the haves. the have nots do not have the same access to government spending. Air transport is subsidised. Have nots cannot even afford the cost of an Air Asia airfare. The rail system which moves freight and the highway system is subsidised. Have nots cannot afford a motor vehicle and those that have a scooter cannot access the expressways. In respect to health care, the have nots are relegated to the underfunded public care system, while the private health care system has benefited from indirect subsidies through tax relief and both indirect and direct subsidies. The middle class at least has some services such as education and utilities. The have nots still have to struggle with paying for the add on fees and costs and having access to potable wayter and sanitation.

The VAT is necessary in Thailand because there is a toothless personal income tax collection system. Most long term foreigners are tax compliant. Their Thai economic strata peers are most likely not tax compliant since no one focuses on the Thais. If Thais were subject to the same scrutiny as the foreign residents, then tax revenues would be higher and VAT could be reduced.

[lungmi]

Wow. Korn criticized the corporate tax adjustment????? This comes from the man that had previously said it was too high?

The corporate tax rate was not "slashed: from 30 per cent to 23 per cent. It is the implementation of the offsets to the increase in other indirect costs such as the minimum wage.

The reduction is intended to keep Thailand competitive in the ASEAN community. It is not an unreasonable rate, and I would expect those that bash the government as being "leftists" to be applauding the decision.

Look at Thailand's neighbours that are viable alternatives for corporate investments;:

Malaysia 25% with consideration of going to 22%

Vietnam 25% with consideration of reducing the tax rate

China 25%

As for the PTP's borrowing, Mr. Korn is a hypocrite. As I read the borrowing numbers, the PTP administration has borrowed less than the precious Democrat administration. I am against government borrowing and deficits, but Mr. Korn was the man that borrowed for all of his fanciful spending. The reality is that the cost of debt service is so low, than Thailand can afford its debt load. Unfortunately for my investment portfolio, interest rates for borrowers, especially sovereign debt, are still rock bottom low, so there is an incentive to borrow. Banks and Investment Houses are practically giving the money away because they are sitting on trillions of euros/$$$ and they don't want to lend in the EU or the USA.

If anything the Thai rate was too high and an impediment to corporate investment and job creation.

Aruments of a hacklawyer.

[DeepInTheForest]

Wow. Korn criticized the corporate tax adjustment????? This comes from the man that had previously said it was too high?

The corporate tax rate was not "slashed: from 30 per cent to 23 per cent. It is the implementation of the offsets to the increase in other indirect costs such as the minimum wage.

The reduction is intended to keep Thailand competitive in the ASEAN community. It is not an unreasonable rate, and I would expect those that bash the government as being "leftists" to be applauding the decision.

Look at Thailand's neighbours that are viable alternatives for corporate investments;:

Malaysia 25% with consideration of going to 22%

Vietnam 25% with consideration of reducing the tax rate

China 25%

As for the PTP's borrowing, Mr. Korn is a hypocrite. As I read the borrowing numbers, the PTP administration has borrowed less than the precious Democrat administration. I am against government borrowing and deficits, but Mr. Korn was the man that borrowed for all of his fanciful spending. The reality is that the cost of debt service is so low, than Thailand can afford its debt load. Unfortunately for my investment portfolio, interest rates for borrowers, especially sovereign debt, are still rock bottom low, so there is an incentive to borrow. Banks and Investment Houses are practically giving the money away because they are sitting on trillions of euros/$$$ and they don't want to lend in the EU or the USA.

If anything the Thai rate was too high and an impediment to corporate investment and job creation.

Aruments of a hacklawyer.

While insulting one's opponent is always gratifying, have you have considered appealing to reason or bringing facts to an argument?

[rubl]

mhhhh, the poor don't pay taxes, so it's the middleclass that always had to carry the burden of the rich and stupid

In Thailand, the poor most certainly do pay taxes. It's called the VAT. Unlike the haves. the have nots do not have the same access to government spending. Air transport is subsidised. Have nots cannot even afford the cost of an Air Asia airfare. The rail system which moves freight and the highway system is subsidised. Have nots cannot afford a motor vehicle and those that have a scooter cannot access the expressways. In respect to health care, the have nots are relegated to the underfunded public care system, while the private health care system has benefited from indirect subsidies through tax relief and both indirect and direct subsidies. The middle class at least has some services such as education and utilities. The have nots still have to struggle with paying for the add on fees and costs and having access to potable wayter and sanitation.

The VAT is necessary in Thailand because there is a toothless personal income tax collection system. Most long term foreigners are tax compliant. Their Thai economic strata peers are most likely not tax compliant since no one focuses on the Thais. If Thais were subject to the same scrutiny as the foreign residents, then tax revenues would be higher and VAT could be reduced.

I agree, but fear that 'VAT could be reduced' is close to wishfull thinking

[DeepInTheForest]

One more regressive tax, which I forgot to mention above: Payroll taxes.

[Rimmer]

Not quite sure who is flaming who but in any event post and quoted replies removed, moron and buffoon are not terms we use when replying to another member and will only lead to that persons suspension.

[Noistar]

Is there any doubt that public funds are not being used to benefit the public but instead to create an environment that may be beneficial for a certain absentee and facilitate his return ?

Not by me, but apparently I'm a neutral