As 2009 comes to a close, I cannot help but feel very distressed and disappointed with the year.

We have the Port Klang Free Zone scandal which is now in the courts where nearly RM3 billion may be involved.

We have the Auditor-General’s report which has stated that RM28 billion in public funds could have been lost. Then the MACC report on the diversion of 60% of federal funds in Sarawak and this can amount to billions.

Also the missing jet engines followed by Barry Wain's book claiming that RM100 billion could have been lost. Dr Mahathir Mohamad's response was that it could not exceed RM10 billion and that he may sue Wain and Lim Kit Siang.

More alarmingly, if we quantify or extrapolate, what about other states, other departments, other projects. How much more?

All mind-boggling stuff. Really big bucks for every case, including the RM64 billion financial rescue package. How many billions that have been lost that are still to be reported?

All these are giving the doomsday sayers a field day, giving cause for their alarm and concern leading to an increased ‘brain drain’ and loss of FDI to previously non-starters like Vietnam.

With a population of only 28 million, at the lower end, these ‘losses/misappropriations/ diversions have cost us at least RM1,000 per man, woman and child. How many thousands of ringgit per person at the higher end? Something like RM2,000, RM4,000, RM8,000 or even RM10,000 or more. What about on the even higher end? RM100,000 per person?

To put all these into a correct prospective, our 2010 budget is only RM148.8 billion, or RM5,300 per man, woman or child. If we are to recover these leakages or losses, do we need to impose additional taxes? Or should we reduce taxes, especially at the lower end to assist the masses make ends meet?

Then we have former minister in the Prime Minister’s Department Effendi Norwawi announcing the coming of a new economic model. More importantly, his observation that the ‘many new ideas’ of the past had never made the distance mostly because of breakdowns at the implementation level.

Asian Strategy and Leadership Institute (Asli) Director Ramon Navaratnam followed with his discourse on the weaknesses of the NEP and the need for some other credible international organisation to examine the official claim that only 19% of the bumiputera equity ownership is actually accurate, and more. All good stuff. But who is to bell the cat, I wonder?

Finally, sir, a newspaper reader from Malacca wrote, ‘We don't need the GST to boost revenue’. A very well-argued letter ending with a claim that the present revenue from the Sales and Service Tax (SST) can be increased by more than 500 times if loop holes were to be plugged. Much more than the RM1 billion GST would add to the government’s revenue.

Two points:

1. The SST collects around RM7 billion so let us say that we can plug some of the loop holes and collects 25 times more (not 500) - we will have RM175 billion in the coffers, more than enough to finance the 2010 budget of RM148.8 billion.

2. The projected RM1 billion increase of revenue under GST - somebody must pay for it, most likely, we, the people.

What do I expect to see in the near future:

1. Personnel involved in SST coming forward, (like Mahathir) to take newspaper readers to court to prove their (Mahathir’s) innocence, or

2. For the authorities to investigate, stop these leakages and bring all concerned to book.

We can prove the doomsday sayers wrong if we can prove ‘Tax Accountant’ right. And we Malaysians can jointly and fairly enjoy a better quality of life without ill conceived taxes like the:

1. Now withdrawn 15-year end of life for cars,

2. The 5% Real Property Gains Tax

3. The now imposed RM50 fee for credit cards, and

4. The soon-to-be imposed GST.