In the article below Bank Negara replies "but there has been growth." Yes
there might have been growth in the same way huge increases in a country's wealth does not make the poverty stricken, millionaires. A
quadrupling of the per capita income of a country does not change the
rock bottom poor. In the same way growth does not translate into
employment. Growth may even occur with a cut in employment.
It is about time the clever people running the economy dump the western model and start looking at the more humane economic model. The most important factor in an economy is not profits of organisation but jobs for its citizens. What is the joy of an 8% economic growth when we have half a million graduates unemployed and non graduates earning pittance at menial jobs. Is the problem with MAS the 20,000 humans about to be dumped?
Why do we need GST? To increase the tax base? Would the country need to be taxed if the right to create money is taken away from the banks? Why do we allow these institutions to create money out of thin air and then lend it to people with interest? Isn't the money the govt need that is now being collected by GST. currently in the undue wealth of the bank owners? By what logic do you tax the suffering poor to preserve the wealth of the bank owners?
This is the problem when we don't have confidence in ourselves and adopt everything from the West as the God given truth. We have the Manual given to us by the Creator but we cast it aside and search for solutions from elsewhere. We refuse to unlearn the untruths that has been drummed into our heads and we go on searching for solutions in blind darkness.
Employers looking at cutting staff as GST starts to bite businesses
BY SHERIDAN MAHAVERA
Published: 4 June 2015 7:00 AM
From retail to hospitality to manufacturing, businesses are reporting lower sales and higher costs, says an employers' federation. Demand reportedly dropped after the GST went into effect on April 1. - The Malaysian Insider file pic, June 4, 2015.
Faced with falling sales and high operating costs, some Malaysian companies are considering cutting staff either through retrenchment or voluntary separation schemes, said an employers' federation.
Malaysian Employers Federation executive director Datuk Shamsuddin Bardan said about 20% of its members were looking into such options and they cut across all economic sectors from retail to hospitality to manufacturing.These companies have approached the MEF for advice and the federation's consultants were currently working with them on how to best cut costs and whether or not to lay off staff, said Shamsuddin.
"If you're not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing."