Don't be fooled by Mahathir's perverted logic

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YOURSAY ‘Why am I left out of his ‘make your friends and family rich’ scheme?’

Dr M: It's not cronyism, we need rich people

Awakened: This is yet another home-grown economic theory from former PM Dr Mahathir Mahathir. His warped logic is that if the government gives a crony RM10 million, then the government can tax him 28 percent of what he "earned".

So the government will have a tax of RM2.8 million from this crony who become rich because of this favour from the government. He is trying to justify the awarding of Approved Permits (APs) to enrich the cronies.

He failed to understand that what the government should help are those genuine entrepreneurs or young people with innovative ideas who can convert their ideas into saleable products and services to other countries.

In the process, jobs are created, money earned through exports and taxes collected. Only those who are genuinely merited such help from the government or institutions will be given assistance in terms of loans and grants.

But what the government has done in the last 40 years is totally the opposite. Meritocracy is not practiced and billions have been wasted through the wrong recipients.

Swipenter: Mahathir is talking nonsense. How come our income disparity is the highest in the region and still widening?

The worst is still found within the Malay community, not that other communities are immune to this phenomenon. We are spawning a small privileged class of mega rich through cronyism and rent-seeking activities.

Some of the privatised projects are taken by these cronies when these are cash cows and enjoy good profits and are monopolies or at best, oligarchies. A good example is Plus.

Even a private entity like DRB is allegedly asking for RM2 billion from the government to fund Proton's entry into the EV (electric vehicle) market.

I think the cronies are the biggest culprits in illicit capital flight from the country. What sort of business acumen and hard work has the Mahathir clan done to accumulate wealth to produce two billionaires within one generation if not for cronyism and corrupt money?

Abasir: Mahathir succeeded in creating a generation of unthinking, uncritical, semi-literates who are always enamoured by titled lowlife and fashionable objects, both animate and inanimate.

That is the generation that applauds senselessly whenever a manipulator like Mahathir takes to the rostrum. I've often said that the damage he has done is like the proverbial iceberg.

What you see, hear and experience today (as during the MH370 briefings) is merely a fraction of the Mahathir-made debacle that is Malaysia.

Lone_star: Dr M, of course, we need rich people to pay tax, but why only a few. Why can't all be rich and pay taxes? Even rickshaw pullers can be taught how to get rich. Isn't that better than only the selected few.

Oh Ya?: What kind of logic is this? Using taxpayers' money or borrowed money that is repaid by the taxpayers and their future generations to enrich cronies and the ruling elite so that they would pay tax?

And how did he pass his maths class? Put RM1 into the crony and the ruling elite or give them a money printing machine such as toll roads and IPPs (independent power producers) just for them to pay back 28 sen in the form of taxation?

Fairnessforall: Why no one asked him about stealing from those who became successful on their own and giving it to his cronies?

Just like he did many of the business, such as stealing the sugar business from Robert Kuok, who was already rich and paying high taxes and giving to Syed Mokhtar Al-Bukhary.

This man is contradicting himself. It has nothing to do with needing rich people. It has to do with making your cronies rich.

Maybe he should explain what Wanita Umno chief Shahrizat Abdul Jalil do with the RM250 million given to her family. Where did the money go?

Self Serving Logic: Mahathir, I totally agree with you that we need more rich people so that the country can collect more taxes.

But hold it - why am I left out of your “making your friends and family rich” scheme?

Why am I and many, many others not even given a chance to bid for the many projects and concessions which you have handed out to people of your choice without due process?

By definition, these people are your cronies, no two ways about it. Please stop thinking that we are fools to be taken in by your warped and twisted logic.

Zambri Mahmud: Yes, his boys are super rich and powerful. How did they become rich? Did they work on their own, build factories, build homes, open up lands and provide employment to the general public like other industrialists in this country.

Ib: What Mahathir forgot is most of his cronies either failed miserably and had to be bailed out shamelessly, or they succeeded only because they were given sweetheart deals.

It is the hardworking professionals who paid all the taxes while  the cronies got away with "murder".

SadMsian: Make me your super rich, give me sure-win contracts, then I pay the 28 percent tax to government. Okay or not?

Mahathir is taking government’s money and corruptly put into his friend’s pocket, then ask him to legally put back 28 percent.

Dr M's 'we need rich people' baloney debunked

Ex-PM turns his 'Malay Dilemma' on its head


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