SEE WHAT HAPPENED TO MISS WONG SIEW MUN.
outpaced by inflation, which averaged 9.8%*
outpaced by inflation, which averaged 9.8%
outpaced by inflation, which averaged 9.8%
outpaced by inflation, which averaged 9.8%
*since 2020
- new ‘luxury’ taxes hit the middle class where it hurts
- promised new taxes would only affect rich (OSTB: Bohong)
- but ordinary families feel the pinch
- new tax regime lands with a thud
- modest pleasures are slipping out of reach
- unexpected tax on imported luxuries
- pain would be felt only by the RICH (OSTB: Bohong)
- instead erosion of middle-class
- increased tax burden adds to rising cost of living.
- levies on imported luxuries raised price of everything
- new taxes also extend deep into services
- insurance, financial planning, private education
- triggered public anger
- Life is definitely going to be a pinch.
- not proud of the government
- peoples' patience wears thin
- new consumption tax at a precarious moment for middle class
- squandering reformist credentials, alienating urban base
- culture wars that pander to Malay majority
- wielding repressive laws to clamp down on dissent
- nepotism scandal involving daughter further battered image
- goodwill from the people has faded
- new taxes expected to raise about RM10 billion
- tax base is overwhelmingly middle class
- nearly 3 million households earn RM4,850-RM10,959
- forming backbone of government revenue
- 1.5 million T20 households monthly incomes exceed RM10,960
- slashed RM80 billion broad-based subsidies in 2023 alone (OSTB: Really? Then how come every year spending and gomen debt is skyrocketing. Gomen debt now in excess of RM1.3 TRILLION - more than double the level in 2018)
- reducing electricity subsidies in 2023
- removal of blanket diesel subsidies in June 2024
- will save up to RM14 billion annually
- inflation eased to 1.8% in 2024, down from 2.5% a year earlier
- (OSTB: Maybe the guvnor's grandmother cut the price for putumayam. They are lying. They contradict themselves - see below)
- for many, the reprieve is more statistical. Not real.
- More than half gomen revenue from income tax
- 2024 record tax collection of RM184.8 billion
- new luxury tax alienating “large portion of disillusioned middle class”
- and business owners whose profit margins were already under strain.
- plans to further restructure electricity tariffs
- and cut blanket petrol subsidies
- to save up to 8 billion ringgit.
- cuts and taxes wearing down Malaysians.
- all of them directly affect the cost of living
- Business groups sounded alarm about price increases
- SMEs feel the strain
- commercial rents projected to soar up to RM57,000 annually, according to FMM
- crisis of credibility
- series of controversies tarnished reputation
- two senior ministers resigned from cabinet
- widespread accusations of nepotism
- daughter in party’s No 2 post despite political wilderness.
- high court ordered to stand trial
- failed bid for legal immunity
- accused of sexual harassment
- very challenging time ahead to get second term
- only way is to buy-in from elites
- don’t see how they can increase their seats
- Food and drink prices soared 17.5% since 2020
- real wages slipped by nearly 2% over same period
- dep guvnor told a conference last month
- Nominal wages, increased 7.9% over that period
- But rise outpaced by inflation, which averaged 9.8%
(OSTB: I told you they are lying. Earlier they said 'inflation eased to 1.8% in 2024, down from 2.5% a year earlier'?? But here they say outpaced by inflation, which averaged 9.8%. And who said it? "dep guvnor told a conference last month")
- fomenting widespread discontent.
- Malaysia’ bracing for punishing tariffs from Washington
- US threatened 24% blanket levy on all exports to US
- widespread economic discontent
- In 2015 GST 6% triggered public backlash
- topple once-invincible BN coalition in 2018 general election.
CONCLUSION:
Indeed they are going to get kicked out. It is not going to get any better. As more time passes the situation will only get worse for them.
And they are lying. At some conference a deputy guvnor said that since 2020 inflation averaged 9.8%.
outpaced by inflation, which averaged 9.8%*
outpaced by inflation, which averaged 9.8%
outpaced by inflation, which averaged 9.8%
outpaced by inflation, which averaged 9.8%
*since 2020
