Malaysia Goods And Services Tax (GST), Do We Need It Now?

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Before I do my next posting "I Nearly Fell Into The Trap Of PM Najib's Illusive Dreams", I like to bring to your notice on the latest move by the umno/bn Government to introduce the General Goods And Services Tax (GST) very soon. I am no expert on this subject but Pakatan Rakyat experts like Tony Pua is on the road to explain in details why we must object the GST, not for the sake of objection but the reality and the effects that the people will encounter should it be hastily introduce at this point of time.

The "NO TO GST" Forum was held in Penang yesterday and my fellow blogger Romerz had a posting about the forum and why the GST should not be introduced now.

"The simple answer is the country is going BROKE! The present economic model of affirmative action (of the selective kind) without expanding capacity is bleeding the country dry. Imagine this. Despite the huge bumper profits from Petronas these last five years, the BN government saw it necessary to operate an increasing budget deficit for the last 12 years! So much so that the nation's current debt is 50+% of Gross Domestic Product (GDP measured annually) and this is an untenable situation. Experts say that when a country's debt is around 65% of GDP, the country will no longer be able to sustain its interest payments without expanding its principal debt!"

Please take a moment of your time to read and understand why the people must say "NO TO GST" at Romerz blog posting The brewing storm of GST.