Mahathir: Share wealth first before growing business - INQ7.net
Former Malaysian Prime Minister Dr. Mahatir Mohamad visited the Philippines. In his latest speaking engagement during the 30th Philippine Business Conference he proclaimed that there must be "equal distribution of wealth before business growth."
He said that poor people's taxes must be small or must not even be taxed. He also believes that the rich must be taxed more. He has suggestions of maintaining low prices of basic commodities for the poor.
To me Dr. Mahatir's beliefs are socialist which I do not have a problem. I commend his efforts to improve Malaysia's economy.
I do have some questions with his "doctrine." Would lesser or almost zero taxes for the poor discourage them to create and have more wealth? Why must the rich have to be taxed heavily if they big spending power which drives the economy? Why must the rich be taxed heavily of they are also businessmen who generate jobs?
Disclaimer: I am not a pro-business centre-left (eg. New Zealand National Party, British Conservative party) just looking for answers.