A reminder that the richest people do not have the highest income. The majority of their income exists in the form of capital growth, and the majority of their expenses are covered by companies they control.

Such a populist move would affect workers, not the truly rich.

[–] dukeGR4@monyet.cc 1 points 1 year ago (1 children)

capital growth is not an assessable income tho? and even then, you will have to be in the trade of buy/sell assets to be assessable on the net profit iinm. no CGT in malaysia either.

[–] wahming@monyet.cc 3 points 1 year ago (1 children)

That was my point. Because the majority of their income is not assessable, they don't fall into the top category of earners. That category is just filled with actual workers.

[–] cendawanita@monyet.cc 1 points 1 year ago

Yep, the actually wealthy have their assets tied up not in personal holdings. By any simple metric that is being thought of, the first impacted are salaried/employed/contracted workers (since taxable income is a usual source of yardstick)