Festive shopping tax break could cost ALL OF US in long run

[webfact]

Festive shopping tax break could cost ALL OF US in long run
By The Nation

 

 

BANGKOK: -- The government has hit a dead-end in its search for new short-term measures to shore up the recovering economy in the last quarter of this year, which may result in a depressed multiplier effect for the Kingdom’s GDP growth.

 

Festive shopping tax break could cost ALL OF US in long run

 

 The government has hit a dead-end in its search for new short-term measures to shore up the recovering economy in the last quarter of this year, which may result in a depressed multiplier effect for the Kingdom’s GDP growth.

 

Prime Minister Prayut Chan-o-cha’s administration announced tax breaks for festive shoppers at the Cabinet meeting on Tuesday. 

 

Full story: http://www.nationmultimedia.com/news/national/30302214

 

 

-- © Copyright The Nation 2016-12-16

[honoluludave]

This is just a con to get people to spend money that really should not be spending. And it is only good for the people who actually file and pay their taxes. This only benefits the retailer

[digibum]

Tourism - Down

Exports - Down

Consumer Spending - Down

Foreign Investment - Down 

 

Hmmmm . . . starting to see a trend here.  

 

 

[craigt3365]

6 minutes ago, honoluludave said:

This is just a con to get people to spend money that really should not be spending. And it is only good for the people who actually file and pay their taxes. This only benefits the retailer

Agreed.  Only benefits the rich, and the very rich retailers.  Just trying to save face as they've been saying the economy is fine all year.  It's not.

[HiSoLowSoNoSo]

According to the University of the Thai Chamber of Commerce (UTCC), Thailand is currently reaching the highest rate of household debts in 8 years, with debts averaging around 119,000 baht per family.

And the "Government" want people to spend more money?

[ezzra]

What do governments to appease the masses and turn their attention from economy

in the doldrums and stagnating? throw some freebees at them and make them happy,

and maybe by doing than, encourage more consuming and thus create falls demands......

[NongKhaiKid]

15 minutes ago, HiSoLowSoNoSo said:

According to the University of the Thai Chamber of Commerce (UTCC), Thailand is currently reaching the highest rate of household debts in 8 years, with debts averaging around 119,000 baht per family.

And the "Government" want people to spend more money?

Great potential slogan here,

' Help The Nation, Get Yourself Into More Debt '.

[PatOngo]

33 minutes ago, digibum said:

Tourism - Down

Exports - Down

Consumer Spending - Down

Foreign Investment - Down 

 

Hmmmm . . . starting to see a trend here.  

 

 

 

Tourism surging to astronomic highs.........MoT&S.

[Srikcir]

I'm seeing a lot more super discount (20-60%) sales events in the malls, But buyers will also get tax giveaways on their purchases while sellers pay tax on their now meager profits. Overall doesn't seem like a sustaining economic policy, especialy for GDP revenue growth.

[Langsuan Man]

Seriously, we all know that this is just a BS plan from the government

 

If they really want to save consumers money they would lower or eliminate the VAT during the holiday season to spur spending.  Those people who pay income taxes are in such a minority that any tax breaks given to them don't impact on sales but is only a  PR stunt

[bark]

Please do not be negative. Please support the Thai Government.

[elgordo38]

5 hours ago, webfact said:

The government has hit a dead-end in its search for new short-term measures to shore up the recovering economy

We live in a short term world get an instant bang for your baht but leave the future uncertain. Things were different years ago with long term trends and job security. Hey its all gone folks. Today we live the life of lab rats scurrying about looking for crumbs. Welcome to the new world order. Geeze I hope my pension keeps coming for another 5 years. 

[DrTuner]

GDP and tourism arrivals, the only indicators Thais care for. Both fairly useless for the common Somchai.

[yardrunner]

6 hours ago, NongKhaiKid said:

Great potential slogan here,

' Help The Nation, Get Yourself Into More Debt '.

Or as Henry Ford said during the great depression, buy a new car the job you save may be yours

[Bluespunk]

3 hours ago, bark said:

Please do not be negative. Please support the Thai Government.

Sarcasm?

[bark]

2 hours ago, Bluespunk said:

Sarcasm?

Yep