Taxing the rich: It's tough. That's why it must be done

[Anon999]

Good luck with that.

Cynical.. or do you hope he succeed. I hope the last because then he proved all the anti coup heroes wrong.

Though I think the guy is a dinosaur in his views in the Koh Tao case and his views on bikinis.

Im not blind to his faults.. but so far the balance has been positive and if he can do this, he will be remembered forever in a good way.

If not he failed just like all the others.

If you don't try you cannot win. You may not achieve all your objectives but by setting the bar high enough there is something, that is not easy, to aim for. You have to give him credit for avoiding the easy options.

[Bob12345]

Is it so bad to live under a military government ?

In the short run it can be good as a military government worries less about its popularity and can cut through red tape without problems.

In the long run i think it is extremely damaging for a country as citizens will start demanding more power. The government will do everything to justify its power (alter history, brainwash with propaganda, limit freedom of speech, jail everyone who is a threat, close the borders, use violence, kill their own citizens etc) and that will come at the cost of economic growth and happiness.

The current military government is a short term solution to a long term problem. At some point they hand back power to the citizens and everything will start over again.

Not if they give the anti corruption laws teeth and make sure that power misuse of the PTP cant happen again. I have no problem with them in power. But the misuse of power should be countered by independent organisations. If they can make the rules stricter then there is no problem once power is returned. Then the PTP is forced to play by the rules and cant hide stuff like the rice scam again. (not budgeted for but 700 billion gone).

When strong anti corruption agencies are there then things can start to change (slowly this wont go away over night). If they do it good this time make a powerful constitution and make sure the PTP isnt going to change it again for its own need (or maybe if they have 70% then i can agree with it let people vote about it if changes are made)

I see a lot of promise this time and I hope I am not wrong, this tax the rich is a great thing.. if he can get it done then it proves it was a good idea. Remember the rich are a small part if any party tries to change it back then we know they are not in it for the poor but for their own money.

I guess you meant that neither PTP nor yellow government can misuse power again, both are now forced to play by the rules, and neither will change rules again when they come to power. And the military should be added there also...

But i agree content wise, there should be checks and balances introduced. Unfortunately the current government does not show real willingness to introduce those by removing every possible check and balance on themselves first. They are not accountable to anyone and scrutinizing them can end you in jail. The media is an important tool in the west to scrutinize politicians but here the media was made silent right after the coup. I wonder how this part of the checks and balances will be reintroduced in a year.

I think we don't differ much in opinion only you seem to put more value on their promises while i weight their own lack of accountability much heavier.

[Dah fahrang]

The general can tax the rich for now, but if a Thaksin aligned government gets in to power after, things will return to how they were before. With probably some bonus tax cuts on the wealthy and corporations to make up for what they lost.

But this assumes "things will return to how they were before."

Let's not hold our collective breaths on that one.

[Nickymaster]

Is it so bad to live under a military government ?

In the short run it can be good as a military government worries less about its popularity and can cut through red tape without problems.

In the long run i think it is extremely damaging for a country as citizens will start demanding more power. The government will do everything to justify its power (alter history, brainwash with propaganda, limit freedom of speech, jail everyone who is a threat, close the borders, use violence, kill their own citizens etc) and that will come at the cost of economic growth and happiness.

The current military government is a short term solution to a long term problem. At some point they hand back power to the citizens and everything will start over again.

Not if they give the anti corruption laws teeth and make sure that power misuse of the PTP cant happen again. I have no problem with them in power. But the misuse of power should be countered by independent organisations. If they can make the rules stricter then there is no problem once power is returned. Then the PTP is forced to play by the rules and cant hide stuff like the rice scam again. (not budgeted for but 700 billion gone).

When strong anti corruption agencies are there then things can start to change (slowly this wont go away over night). If they do it good this time make a powerful constitution and make sure the PTP isnt going to change it again for its own need (or maybe if they have 70% then i can agree with it let people vote about it if changes are made)

I see a lot of promise this time and I hope I am not wrong, this tax the rich is a great thing.. if he can get it done then it proves it was a good idea. Remember the rich are a small part if any party tries to change it back then we know they are not in it for the poor but for their own money.

I guess you meant that neither PTP nor yellow government can misuse power again, both are now forced to play by the rules, and neither will change rules again when they come to power. And the military should be added there also...

But i agree content wise, there should be checks and balances introduced. Unfortunately the current government does not show real willingness to introduce those by removing every possible check and balance on themselves first. They are not accountable to anyone and scrutinizing them can end you in jail. The media is an important tool in the west to scrutinize politicians but here the media was made silent right after the coup. I wonder how this part of the checks and balances will be reintroduced in a year.

I think we don't differ much in opinion only you seem to put more value on their promises while i weight their own lack of accountability much heavier.

Well, they are going to declare their assets and they will be out in a year or so. I would say let them work. So far so good. I don't want even want to think what might happen if the wolves come back again. There aren't too many places left on the corruption index before Thailand reaches rock bottom....

Edited September 18, 2014 by Nickymaster

[Bob12345]

Well, they are going to declare their assets and they will be out in a year or so. I would say let them work. So far so good. I don't want even want to think what might happen if the wolves come back again. There aren't too many places left on the corruption index before Thailand reaches rock bottom....

I dont follow all the news here but i missed the part that they will declare their assets soon. Last i heard some people (including PM) still exempted themselves.

And we will have to see if they will be out in a year. And if the structure they leave behind will help the country is still the question (all previous coups failed there given a next coup was deemed necessary shortly after).

[belg]

just think who is a major owner of land in thailand, will he/his family be excluded from that tax ?

did the PM already submit an overview of his assets ? and of his family members , maids & gardeners ?

[mccw]

just think who is a major owner of land in thailand, will he/his family be excluded from that tax ?

did the PM already submit an overview of his assets ? and of his family members , maids & gardeners ?

Your an idiot.

That land is used for all sorts of purposes and projects for the people; forestry; agricultural communities; research; nature preservation etc.

Leave your envy and hate back in your Falang land. This is the Kingdom of Thailand and long may it be so. With out this great monarch Tjailand would likely look like a poor corrupt shizer hole like Cambodia run by a megalomaniac like Hun Sen - ah yeah; his name was Thaksin. Thank the heavens for Chakri.

[icare999]

It is not a point of just taxing the rich it is a point to ensure that the rich pay their equal , required amount , far too many times, the rich have super duper ways to avoid tax , the rich or wealthy should pay their way as with the rest of the population, when you find that a wealthy person pays ten per-cent and the bus Driver pays 33 per-cent you wonder who has the best tax accountant, P.M. Prayuth 's choice of words probably could have been more softer , however why go soft on people who make mega bucks and then flout the Tax laws.

wont work never has never will real rich always find loopholes only way to make it work is to tax luxury goods and have different tax rates for different products. Tax business class and first class air travel a lot and economy class very little. Tax as they do high end luxury cars 200% or more (done for cars not made here and rich still buy them), the luxury hotel tax it 20% make it 30 or 40%. So everything rich want tax it and it cant then be avoided. Zero rate tax on basic foods while luxury foods put 50% tax on them.

Thats only way you'll get rich to pay up.

[mccw]

It is not a point of just taxing the rich it is a point to ensure that the rich pay their equal , required amount , far too many times, the rich have super duper ways to avoid tax , the rich or wealthy should pay their way as with the rest of the population, when you find that a wealthy person pays ten per-cent and the bus Driver pays 33 per-cent you wonder who has the best tax accountant, P.M. Prayuth 's choice of words probably could have been more softer , however why go soft on people who make mega bucks and then flout the Tax laws.

wont work never has never will real rich always find loopholes only way to make it work is to tax luxury goods and have different tax rates for different products. Tax business class and first class air travel a lot and economy class very little. Tax as they do high end luxury cars 200% or more (done for cars not made here and rich still buy them), the luxury hotel tax it 20% make it 30 or 40%. So everything rich want tax it and it cant then be avoided. Zero rate tax on basic foods while luxury foods put 50% tax on them.

Thats only way you'll get rich to pay up.

I like this way.

And I'd add- to make it fair just have zero income tax on everybody ; then no avoidance issues of bus drivers and doctors paying way more than billionaires. Just tax at point of sales like you say.

Also then it keeps money in country rather than encouraging people not to invest in Thailand because of a high tax compared to a better deal elsewhere. If too high taxes people will literally take theirs money and run with it. Not good for the economy; and plenty ways around capital controls that can't be stopped. From and out side perspective too high rates put off investment.

But from another page I just read on the I quotable paper the biz rates are fixed at 20% still while income tax has been decreased by 5%. Seems they are lowering taxes rather than increasing them. So I guess this thread is only in relation to inheritance and capital gains tax.

[MaxLee]

"Taxing the rich: It's tough. That's why it must be done"

Say whaaaat??? In Thailand??? You have a death wish or something???

Edited September 18, 2014 by MaxLee

[Bob12345]

It is not a point of just taxing the rich it is a point to ensure that the rich pay their equal , required amount , far too many times, the rich have super duper ways to avoid tax , the rich or wealthy should pay their way as with the rest of the population, when you find that a wealthy person pays ten per-cent and the bus Driver pays 33 per-cent you wonder who has the best tax accountant, P.M. Prayuth 's choice of words probably could have been more softer , however why go soft on people who make mega bucks and then flout the Tax laws.

wont work never has never will real rich always find loopholes only way to make it work is to tax luxury goods and have different tax rates for different products. Tax business class and first class air travel a lot and economy class very little. Tax as they do high end luxury cars 200% or more (done for cars not made here and rich still buy them), the luxury hotel tax it 20% make it 30 or 40%. So everything rich want tax it and it cant then be avoided. Zero rate tax on basic foods while luxury foods put 50% tax on them.

Thats only way you'll get rich to pay up.

I like this way.

And I'd add- to make it fair just have zero income tax on everybody ; then no avoidance issues of bus drivers and doctors paying way more than billionaires. Just tax at point of sales like you say.

Also then it keeps money in country rather than encouraging people not to invest in Thailand because of a high tax compared to a better deal elsewhere. If too high taxes people will literally take theirs money and run with it. Not good for the economy; and plenty ways around capital controls that can't be stopped. From and out side perspective too high rates put off investment.

But from another page I just read on the I quotable paper the biz rates are fixed at 20% still while income tax has been decreased by 5%. Seems they are lowering taxes rather than increasing them. So I guess this thread is only in relation to inheritance and capital gains tax.

Wow, you just solved one of the biggest problems every government runs into at some point or you missed some critical points in your analysis.

Maybe the fact that you are not nominated for a Nobel prize or one of the up and coming politicians in your home country gives a clue which one it is.

[Johpa]

Well you don't want to tax the rich because that would place marginal limits on families like the Chiaravanonts from reinvesting their profits back to their motherland.

[mccw]

Several countries get along just fine with out excessive income, capital gains or inheritance taxes. They do well because of the low taxes; otherwise they are uncompetitive.

Hong kong

Caymans

Bahamas

Staint kitts & Nevis

For example.

Which over taxed welfare state are you from / brainwashed you to believe high taxes is the only way for the "civilised.

Look at what a mess EU, UK, USA are in; high taxes and still they can't help but borrow more more. Clearly the economic genius you refer to who are running the show are super clever and doing a great job

It is not a point of just taxing the rich it is a point to ensure that the rich pay their equal , required amount , far too many times, the rich have super duper ways to avoid tax , the rich or wealthy should pay their way as with the rest of the population, when you find that a wealthy person pays ten per-cent and the bus Driver pays 33 per-cent you wonder who has the best tax accountant, P.M. Prayuth 's choice of words probably could have been more softer , however why go soft on people who make mega bucks and then flout the Tax laws.

wont work never has never will real rich always find loopholes only way to make it work is to tax luxury goods and have different tax rates for different products. Tax business class and first class air travel a lot and economy class very little. Tax as they do high end luxury cars 200% or more (done for cars not made here and rich still buy them), the luxury hotel tax it 20% make it 30 or 40%. So everything rich want tax it and it cant then be avoided. Zero rate tax on basic foods while luxury foods put 50% tax on them.

Thats only way you'll get rich to pay up.

I like this way.

And I'd add- to make it fair just have zero income tax on everybody ; then no avoidance issues of bus drivers and doctors paying way more than billionaires. Just tax at point of sales like you say.

Also then it keeps money in country rather than encouraging people not to invest in Thailand because of a high tax compared to a better deal elsewhere. If too high taxes people will literally take theirs money and run with it. Not good for the economy; and plenty ways around capital controls that can't be stopped. From and out side perspective too high rates put off investment.

But from another page I just read on the I quotable paper the biz rates are fixed at 20% still while income tax has been decreased by 5%. Seems they are lowering taxes rather than increasing them. So I guess this thread is only in relation to inheritance and capital gains tax.

Wow, you just solved one of the biggest problems every government runs into at some point or you missed some critical points in your analysis.

Maybe the fact that you are not nominated for a Nobel prize or one of the up and coming politicians in your home country gives a clue which one it is.

[Johpa]

Several countries get along just fine with out excessive income, capital gains or inheritance taxes. They do well because of the low taxes; otherwise they are uncompetitive.

Hong kong

Caymans

Bahamas

Staint kitts & Nevis

For example.

Which over taxed welfare state are you from / brainwashed you to believe high taxes is the only way for the "civilised.

Look at what a mess EU, UK, USA are in; high taxes and still they can't help but borrow more more. Clearly the economic genius you refer to who are running the show are super clever and doing a great job

Hong Kong is a city-state and the others you mention are tiny little islands with small populations and little overhead. To compare these examples to larger industrialized countries is simply nonsense. The US is a basket case but not because of high taxes upon the wealthy, and indeed the economic woes began when Reagan began cutting the taxes on the wealthy and placing the tax burden upon the middle class.

I suggest you read the book The Spirit Level: Why More Equal Societies Almost Always Do Better by Pickett and Wilkinson as an antidote to the Kool-Aid you have been drinking for a substantive understanding as to why the need for reasonable income, capital gains or inheritance taxes, once inequality becomes pervasive in a society.

[mccw]

When in history has "equal societies done better?

All the great civilisations have been decidedly unequal.

Days of colonial empires.

Kingdoms of Europe.

Romans

Greeks

Egyptians etc

I counter to say that the total equality of say tribes or subsistence agriculture societies are the relatively unsuccessful ones in terms of technology, arts, sciences and such. Where as the unequal ones; where the wealth of a few has become great enough to sponsor activities out side of the day to day survival ; those are the societies that have really done "better".

Or is the book talking about some tiny slivers of comparing Scandinavia to USA in the modern day.

We today / last couple generations are just a little island in the thousands of years of history.

Several countries get along just fine with out excessive income, capital gains or inheritance taxes. They do well because of the low taxes; otherwise they are uncompetitive.

Hong kong

Caymans

Bahamas

Staint kitts & Nevis

For example.

Which over taxed welfare state are you from / brainwashed you to believe high taxes is the only way for the "civilised.

Look at what a mess EU, UK, USA are in; high taxes and still they can't help but borrow more more. Clearly the economic genius you refer to who are running the show are super clever and doing a great job

Hong Kong is a city-state and the others you mention are tiny little islands with small populations and little overhead. To compare these examples to larger industrialized countries is simply nonsense. The US is a basket case but not because of high taxes upon the wealthy, and indeed the economic woes began when Reagan began cutting the taxes on the wealthy and placing the tax burden upon the middle class.

I suggest you read the book The Spirit Level: Why More Equal Societies Almost Always Do Better by Pickett and Wilkinson as an antidote to the Kool-Aid you have been drinking for a substantive understanding as to why the need for reasonable income, capital gains or inheritance taxes, once inequality becomes pervasive in a society.

[manarak]

It can work if they tax fairly.

I'd do something like this:

Something like 0.5% on wealth from 25 up to 50 million, and 1% beyond.

Personal income tax rate should raise gently from 0% below 50.000 baht per month and reach a cap of 25% at about 500.000 baht a month.

Corporate tax at 25%.

And income and wealth tax should offset themselves, i.e. the taxpayer pays only one, the higher of the two.

[Bob12345]

Several countries get along just fine with out excessive income, capital gains or inheritance taxes. They do well because of the low taxes; otherwise they are uncompetitive.

Hong kong

Caymans

Bahamas

Staint kitts & Nevis

For example.

Which over taxed welfare state are you from / brainwashed you to believe high taxes is the only way for the "civilised.

Look at what a mess EU, UK, USA are in; high taxes and still they can't help but borrow more more. Clearly the economic genius you refer to who are running the show are super clever and doing a great job

The only reason these city-states and mini islands do fine is by attracting foreign companies to domicile there and pay their low tax rates. They are "stealing" taxes from other countries.

Now imagine every country following this strategy. How many international companies will stay at, say, the Bahamas? Probably none. So now how are they gonna pay for roads, schools, and law enforcement? And that is the flaw in your reasoning and the reason why you are not nominated for a Nobel prize yet.

Its like advising a company to lower its prices to get a bigger market share. It only works if none of the competutors react to it because if they do you end up with a price war and everybody loses.

[Gonsalviz]

The general can tax the rich for now, but if a Thaksin aligned government gets in to power after, things will return to how they were before. With probably some bonus tax cuts on the wealthy and corporations to make up for what they lost.

And of course the Democrats would surely ante up. Where do you come up with such garbage?

[Gonsalviz]

The rich traditionally avoid taxation worldwide because there isn't a government in the world that doesn't kowtow to the elite.

Obama, by changing banking laws has brought in $$$ millions in tax revenue from undeclared income deposited in foreign bank accounts. The elite benefit the most from government and proportionately pay the least amount of money for it.

Need money? Tax the elite. They can afford it.

Suckered you right in, didn't they?

[mccw]

Several countries get along just fine with out excessive income, capital gains or inheritance taxes. They do well because of the low taxes; otherwise they are uncompetitive.

Hong kong

Caymans

Bahamas

Staint kitts & Nevis

For example.

Which over taxed welfare state are you from / brainwashed you to believe high taxes is the only way for the "civilised.

Look at what a mess EU, UK, USA are in; high taxes and still they can't help but borrow more more. Clearly the economic genius you refer to who are running the show are super clever and doing a great job

The only reason these city-states and mini islands do fine is by attracting foreign companies to domicile there and pay their low tax rates. They are "stealing" taxes from other countries.

Now imagine every country following this strategy. How many international companies will stay at, say, the Bahamas? Probably none. So now how are they gonna pay for roads, schools, and law enforcement? And that is the flaw in your reasoning and the reason why you are not nominated for a Nobel prize yet.

Its like advising a company to lower its prices to get a bigger market share. It only works if none of the competutors react to it because if they do you end up with a price war and everybody loses.

There are other kinds of taxes; property; consumption; import; export.

The point is for this thread; does Thailand want to be a high tax country?

Is it position competitive globally?

They seem to have gone the middle way of reasonably competitive corporation/ biz tax at 20%, and lowered the personal rates. So my view of lower tax over higher tax appears to be winning the day in this country.

Raising a minor capital gains and inheritance tax seems to really be a waste of time and more political than anything. Have a look at UK inheritance tax , what it actually brings in, it's a minor, like half the foreign aid budget. But politically hard to get rid of. Personally I think they just shouldn't start the road on these new areas, because it's a slippery slop. Once red / lefty, types get elected it gives them the easy to up it from x to y rather than hard job to introduce from scratch.

Like with the introduction of income tax back in the 1800s UK.

Back then it was civil liberties not to have government knowing a mans personal buisness don't you know

[mccw]

To be fair the top personal income should not be more than the biz tax I think.

Otherwise one wealthy may aswell run everything through a biz and another employee has to pay the extra.

Same "problem" with cash workers / biz economy, compared to employed persons.

I know many farmers make more than the income tax brackets but never ever paid any taxes. But the office workers on 15k bht pm must pay tax; and under the last gov subsides the farmer, even though they don't any pay taxes.

[Trouble]

The rich traditionally avoid taxation worldwide because there isn't a government in the world that doesn't kowtow to the elite.

Obama, by changing banking laws has brought in $$$ millions in tax revenue from undeclared income deposited in foreign bank accounts. The elite benefit the most from government and proportionately pay the least amount of money for it.

Need money? Tax the elite. They can afford it.

Since you mentioned Obama, I can tell you flat out that the majority of the rich in the USA do NOT avoid paying their taxes. Sure now and then one reads a story about some individual or corporation that appears to get away with avoiding taxes but the reality is that this kind of thing is an exception. Do the wealthy individuals and corporations take advantage where they can of the tax laws? Sure. It is no different than the middle class getting a deduction for mortgage interest. There are limits on the amount of interest one can deduct on a mortgage so the wealthy are not treated fairly on that deduction. In California if one makes over a million dollars there is a special tax of 1 % to fund some state programs, this all on top of the top tax rate. Believe it or not the wealthy not only pay the highest tax rate but then are hit with the Alternative Minimum Tax and limits on other deductions that the middle class get.

Without boring everyone here I picked this out of a quick google search. There are lots of places to get more accurate figures from the government internal revenue service but in a nutshell:

The top 10 percent of taxpayers paid over 70% of the total amount collected in federal income taxes in 2010. That's up from 55% in 1986.

The remaining 90% bore just under 30% of the tax burden. And 47% of all Americans pay hardly anything at all.

It is a complete fabrication by the politicians that the rich don't pay their fair share. In the USA It is an election tool used by Obama and Democrats to feed the myth and to divide and conquer. The top ten percent do indeed fund the operating expenses of the US Government and all the social programs supporting others. So let's be clear about who pays the taxes.

In Thailand there is probably a need for tax overhaul but consider how many do not pay taxes at all. Think all those street vendors are paying taxes, the small farmers, tuk tuk drivers? Much of Thailand is still a cash based economy and no one is keeping tract of anything. So you can bet the taxes to fund the government and government programs are being payed by the more well off in the country. The idea that one can become successful attain wealth, pay the taxes year after year on the earned wealth, and then at death have the government take 40 % (as in the USA) is nothing more than blatant theft. If it was not for the rich giving to charities or setting up trusts upon death half the charities here in the USA would be broke.

The only people that advocate taxing the rich more or creating inheritance taxes are those that have nothing to loose. I can tell you flat out that if Thailand came up with a special tax on farangs on retirement visas or a special 10 % tax above the normal tax rate for farangs working in Thailand people on this forum would be up in arms. It is always easy to say tax the other guy (in this case the wealthy) but don't tax me.

[mccw]

Several countries get along just fine with out excessive income, capital gains or inheritance taxes. They do well because of the low taxes; otherwise they are uncompetitive.

Hong kong

Caymans

Bahamas

Staint kitts & Nevis

For example.

Which over taxed welfare state are you from / brainwashed you to believe high taxes is the only way for the "civilised.

Look at what a mess EU, UK, USA are in; high taxes and still they can't help but borrow more more. Clearly the economic genius you refer to who are running the show are super clever and doing a great job

The only reason these city-states and mini islands do fine is by attracting foreign companies to domicile there and pay their low tax rates. They are "stealing" taxes from other countries.

Now imagine every country following this strategy. How many international companies will stay at, say, the Bahamas? Probably none. So now how are they gonna pay for roads, schools, and law enforcement? And that is the flaw in your reasoning and the reason why you are not nominated for a Nobel prize yet.

Its like advising a company to lower its prices to get a bigger market share. It only works if none of the competutors react to it because if they do you end up with a price war and everybody loses.

Your small thinking is like a primary school age;

I want more share of the pie. We poor need a bigger share of the pie from taxing the rich.

But actually the way to improve every bodies life is to create the conditions for a bigger pie.

(Some degree of taxation for infrastructure, education is a part of this; but nothing needed like extent of west today)

Over regulation and tax; especially on small biz and individuals; is what stifles the growing of the pie.

England grew to be prosperous by being a nation of shop keepers; like the enterprising USA of decades past or Chinese settlers or the modern day much of Thailand; basically operating in cash out side the tax system. Only the really big timers pay tax. Now it's the big boys pay less and the little guys get hit hardest.

Crank up the rules, regs, taxes and it will all stagnate and fall apart like the EU; people won't take care of themselves but instead look to the government welfare and then the taxes need increasing on the few left. Big biz is only ones to afford the regs compliance and the people turn in to wage serfs rather than owners; the middle class shrinks and cost of living and taxes keep going up while decent jobs and independent biz become scarcer .

Lower taxes for everybody be better than hitting the middle while the rich just get away with next to nothing anyway. Real world we're in here. You might like to tax the hell out of the billionairs but strait up not possible

[arthurwait]

It is not a point of just taxing the rich it is a point to ensure that the rich pay their equal , required amount , far too many times, the rich have super duper ways to avoid tax , the rich or wealthy should pay their way as with the rest of the population, when you find that a wealthy person pays ten per-cent and the bus Driver pays 33 per-cent you wonder who has the best tax accountant, P.M. Prayuth 's choice of words probably could have been more softer , however why go soft on people who make mega bucks and then flout the Tax laws.

Only 17% of the population pay tax and it starts at 25,00b I think. I don't think any bus drivers pay any tax.

[gerry1011]

It's funny to read so many posters enthusiastic about the prospect of "taxing the rich".

Many here seem thrilled by the idea of making all these nasty dishonest and selfish rich people "pay" for all the wrong they did to the country...

What a bizarre attitude towards those who are the drivers of the economy...

But the "reforms" are also about "resetting the price of oil and gas products "to reflect the real market prices" and avoid market distortion"...

That means higher prices at the fuel station.

I can already imagine the reactions of the farangs who are so much in favor of taxing the rich, once this particular reform is in place... and that they find out that it is much more expensive to fill up their second hand motorbike

Edited September 18, 2014 by gerry1011

[arthurwait]

Will farmers be paying land tax ? Will their children have to pay inheritance tax on it ?

[Lukecan]

Inheritance tax is the most pointless thing IMHO

[mccw]

Hey

Falangs are rich on many Thai eyes. I wonder if these tax lovers would like to cofff up a special Falang retirement visa tax?! Only fair after all. A modest 50k or 100k to aid the education of poor youth who will be ultimately servicing you at some point.

Happy to pay?

Or would you bigger off the next country? Muttering how stupid and counter productive the tax policy was in Thailand.

55

[mccw]

Will farmers be paying land tax ? Will their children have to pay inheritance tax on it ?

I think I read they are considering land size limits. Like a tired system maybe.

0 tax under 50 rai and then 1% over and maybe more if a higher bracket; like over 100rai.

[hawker9000]

It's the same everywhere. Taxes on the "rich" have a way of turning into attacks on the middle class, and I'm not sure that's not actually by design. The rich just navigate the ever-present loopholes, while the middle class falls into the new potholes. Ex: AMT in the U.S. Ex: Obamacare & all its "hidden" taxes Nancy Pelosi didn't even WANT to take time to read... I think it has something to do with the fact that politicians are inevitably in the pockets of their richest contributors, plus no amount of taxing the rich, successfully achieved or not, is ever going to reach the scale and solve the problem of populist-driven overspending. On an aggregate basis, the middle class simply has the deepest pockets. (Until the left succeeds in doing away with it completely... As the middle class dwindles, "income disparity" gets worse, and so does the socialist impetus to tax even more. The mother of all vicious circles.)