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William · 02-08-2006, 10:06 AM

Historically, Bangkok's middle-class voter has been fairly solidly Democrat. However, obviously T&Co. have been doing their homework and have seen the effect of promising reduced taxes on the lower/middle-classes had under Magie-economics and Regan-omics.

So, having read the article quoted below, are TRT buying the middle-class vote?

Quote:

TAXATION / AMENDMENTS TO STREAMLINE LAWS

Tax-deductible limit lifted to 60% of income or B100,000

WICHIT CHANTANUSORNSIRI
Taxpayers nationwide will receive a tax break of up to 40,000 baht per year under a revision to the tax code approved by the cabinet yesterday.

Chaiyos Sasomsap, the caretaker deputy finance minister, said the amendment was aimed at reducing the tax burden for taxpayers, and is part of a broader plan by the Finance Ministry to streamline the country's laws.

Individual taxpayers currently receive a deduction of 40% of their taxable income up to a maximum of 60,000 baht.

Under the new amendment, the tax deduction will be increased to up to 60% of income up to a maximum of 100,000 baht.

In practice, single taxpayers earning a monthly income of less than 19,166 baht will face no personal income taxes at all, compared with the current level of 15,833 baht.

A married couple with one child will pay no tax if their monthly income is less than 22,916 baht, compared with the current level of 19,583 baht.

Officials estimate the change would result in lost tax revenues of around 10 billion baht.

Also approved was a minor change aimed at reducing administrative costs for small businesses. Currently small businesses with monthly revenues of less than 300,000 baht are required to issue receipts only for transactions of more than 1,000 baht, which under the new rule would increase to 5,000 baht per transaction. Stores would also need to only consolidate receipts once each day.
Mr Chaiyos said the new Parliament would have to approve the proposed amendments to the tax code before they took effect. The tax reduction would help increase disposable income for households, ultimately helping economic growth and domestic consumption.

Bangkok Post : Business news

Wallace · 02-08-2006, 10:33 AM

Quote:

Originally Posted by William

Historically, Bangkok's middle-class voter has been fairly solidly Democrat. However, obviously T&Co. have been doing their homework and have seen the effect of promising reduced taxes on the lower/middle-classes had under Magie-economics and Regan-omics.

So, having read the article quoted below, are TRT buying the middle-class vote?

The Tories went down this route back in the '80s - promising tax cuts, selling off the national treasures, etc. Eventually both conservative politicians and the public woke up to what was happening. I'm not saying the current political climate in the UK is any healthier, and to be honest, certain things needed a decent reform. However, the Thai psyche is very different to that of the average Brit and sadly most Thais can't even see further than their plastic surgery enhanced nose. Thailand seems to have abandoned any moral principles based on their Buddhist beliefs in favour of trying to get as much money for as little work as possible (I did say 'most Thais') in the shortest possible time.

stroller · 02-08-2006, 01:24 PM

i'm not so sure the middle classes can be swayed as easily as the taxi-drivers and farmers by finnancil incentives. They are the more educated ones who can see through the scam and have a more longterm perspective.

The_Ghost_Of_The_Moog · 02-08-2006, 01:26 PM

not so sure the middle classes can be swayed as easily as the taxi-drivers and farmers by finnancil incentives.

Why not? the US middle and upper classes tend to vote by the demands of their wallets. Do you think the Thai wealthy are more socially minded? I think not.

William · 02-08-2006, 01:35 PM

I tend to agree. In the past 10 years, tax planning and tax avoidance has become far more of an issue IME. Now, with a family of 4, a mortgage, etc., a bread-winner on 30k a month will hardly pay any tax (if at all). That will be popular - at least until bonus time

Spin · 02-08-2006, 01:43 PM

Who gives a toss if the voters are being bought. Dont bother worrying about it! The low class voters in The Isaan feilds are fully paid up voters so buying some other group aint exactly hot news is it?

My main concern is that this news might give me a small pay rise.

cool.

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02-08-2006, 01:24 PM	#3 (permalink)
stroller Kraut Last Online: 01-07-2008 11:03 AM Join Date: Mar 2006 Location: under the headphones Posts: 17,181	i'm not so sure the middle classes can be swayed as easily as the taxi-drivers and farmers by finnancil incentives. They are the more educated ones who can see through the scam and have a more longterm perspective.

02-08-2006, 01:26 PM	#4 (permalink)
The_Ghost_Of_The_Moog Elite Member Last Online: 07-08-2008 12:19 PM Join Date: Mar 2006 Posts: 1,465	not so sure the middle classes can be swayed as easily as the taxi-drivers and farmers by finnancil incentives. Why not? the US middle and upper classes tend to vote by the demands of their wallets. Do you think the Thai wealthy are more socially minded? I think not.

02-08-2006, 01:35 PM	#5 (permalink)
William Senior Member Last Online: Today 02:18 AM Join Date: Jul 2005 Location: In jail Posts: 5,842	I tend to agree. In the past 10 years, tax planning and tax avoidance has become far more of an issue IME. Now, with a family of 4, a mortgage, etc., a bread-winner on 30k a month will hardly pay any tax (if at all). That will be popular - at least until bonus time

02-08-2006, 01:43 PM	#6 (permalink)
Spin Senior Member Join Date: Jul 2006 Posts: 7,863	Who gives a toss if the voters are being bought. Dont bother worrying about it! The low class voters in The Isaan feilds are fully paid up voters so buying some other group aint exactly hot news is it? My main concern is that this news might give me a small pay rise. cool.

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