ReCom.org
The Business World From the stock market to the old school barter system

Budget 2004

Closed Thread
 
Thread Tools
digimushu Male
Prototyper
 
digimushu's Avatar
 
Join Date: Mar 2004
Posts: 1,191
  #11 Old 08-09-2004 Default

WHATT???

Argh, thats the good thing in M'sia last time...u only pay what the price tag is, now its gonna be 5-6% more...damn
__________________
No trees were killed in the creation of this message. However, a great many electrons were terribly inconvenienced.
Join the Engineering SIG!
digimushu is offline  
misled_youth
Senior Member
 
Join Date: May 2004
Posts: 1,063
  #12 Old 08-09-2004 Default

Quote:
Originally Posted by gal_flower
from wad i heard, a new tax will be introduced--VAT (Value Added Tax). It works almost the same as the sales tax that Singapore and the States has...meaning that goods will be taxed as well. All goods except for 'barangan keperluan' like sugar, rice etc. consequently, income tax will be reduced. but this introduction may only be official in two years time because the people needs to get use to the idea of payin tax for their goods...
Like GST in Singapore and Australia.

GST = Go Squeeze Them
misled_youth is offline  
chenchow Male
ReComer
Administrator
 
chenchow's Avatar
 
Join Date: Apr 2003
Posts: 4,989
  #13 Old 09-09-2004 Default

I guess one thing that the government would do would be to increase the budget of agricultural and agro-industry, higher education, biotech, crime prevention which seems to be the crux of current administration. However, I do believe that the entire budget would not be expansionary, as _earth mention that the government is going to reduce the defisit. Perhaps a 2-3% deficit of GDP would be a good step ahead.
chenchow is offline  
Guest
 
Posts: n/a
  #14 Old 09-09-2004 Default

What's the current deficit level?

From what I understand, the economic growth from the past 5 years were boosted a lot by government spending (i.e. fiscal policy)
that resulted in bigger deficits. That's a nicer way of saying that the government artifically boosted GDP growth and in the process racked up big debts.

The VAT tax should be a good idea to encourage people to increase savings, but I'm not an expert on that issue to give detailed comments on the pros and cons. Anyone here doing economics relating to VAT/GST flat taxes?

There has been an idea to simplify the American tax law to tax only those earning $150,000 or more a year on a single flat bracket, and use VAT taxes to cover the rest of the tax revenue. This would increase savings (which in America is currently too low), but would also additional burden to the poor since they spend all their disposable income on buying goods (compared to the richer people who have extra money to save).
 
__earth Male
Senior Member
 
__earth's Avatar
 
Join Date: Nov 2003
Posts: 2,124
  #15 Old 09-09-2004 Default

I am not sure what's the current level of the Malaysian deficit. In fact, I think the official level for this quarter, let alone this year, has not been report yet. But if I remember correctly, the projected deficit for 2004 was 4.5% of the GDP.

More on deficit, with the govt subsidizing gas and at the same time, the gas price has been relatively high, the deficit should balloon up.
__________________
The __earthinc
http://www.maddruid.com/
__earth is offline  
chenchow Male
ReComer
Administrator
 
chenchow's Avatar
 
Join Date: Apr 2003
Posts: 4,989
  #16 Old 11-09-2004 Default

The highlights of the Budget 2005 :-
http://thestar.com.my/news/story.asp...200&sec=latest

Full text of the budget:-
http://thestar.com.my/budget2005/sto...sec=budget2005
chenchow is offline  
gal_flower
Member
 
Join Date: Jan 2004
Posts: 259
  #17 Old 11-09-2004 Default

do u guys know that our country still owes money for the Commonwealth Games? yup...the debt is still not paid up...n tad was approx 6 years ago...
gal_flower is offline  
masterof_none
Administrator
Administrator
 
Join Date: Apr 2003
Posts: 837
  #18 Old 12-09-2004 Default

Since the topic now is Budget 2005, I close the this thread. and I open a new one on Budget 2005.

Moderator Action : Topic Locked
Reason : out of topic.

http://recom.org/modules.php?name=Fo...&p=31083#31083
masterof_none is offline  
Closed Thread

Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT +8. The time now is 08:42 AM.


Powered by vBulletin® Version 3.7.6
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.

ReCom stands for Reborn Community. It has no affiliation with other organizations that may share the same name. The views expressed in this website solely represent the authors point of view and do not necessarily reflect the views of ReCom Anchors and other ReCom users.


 

Page generated in 0.08848 seconds with 16 queries