Wow~ 5 cents Rocky is suddenly trying for civility~ Isn't that a radical change! 
Look at the facts, and look around a little to see what other nearby places are doing. Macau has handed out $$ to all of their citizens for... what? the 3rd time in as many years now? Taiwan has done it as well in the midst of their economic hardships as well. Singapore or Malaysian has done the same thing as well, and certain Chinese cities are also don't the same thing. Why isn't HK doing something like that to help its citizens, esp when it has *HOARDS* of money in its reserves?
The thing is, the HKSAR government is already *extremely* rich. If they were to give out a little cash, they wouldn't be doing it by printing money or de-valuing the HKD. All they have to do is to take out tiny, tiny chunk of money from the reserves, and this will be achieved. Look at the HKSAR government figures I posted in the other thread -- if they were to give out HKD$10k to each citizen, the current reserves level would allow them to do this for 30 consecutive years. If you only give $5k, this can be done for 60 years straight. Can you imagine how much this would help those who are marginalized in the society?
If the SAR government were to give out money, a huge chunk of that money would immediately be injected into the economy to stimulate it (that is exactly what happened in TW). An increasingly larger population in HK is facing poverty, and the middle class is feeling the pinch as well. Had the government given them some money, the poor would immediately spend them to alleviate their pains of their daily lives. A little more meat on the table. A little fresher veggies instead of rotting leftovers from the market. A little assistance to let 小明 attend that field trip. A little ease on that debt. After that initial spending, the money churns around a couple more times. Had you knew any economics at all, this is known as the multiplier effect. Everybody benefits. More importantly, the money would be put to the best use by each and every individual. If they need food, they spend it on food. If they see greater benefits in investing it, they invest it however they want.
Since the SAR government is hoarding all this money, however, the only thing they know how to do with it is to invest them in bonds and stuff. So the US bonds pay 3% interest. In the hands of regular people, the economic benefits that can be produced will far exceed that 3% gain. The HK government is stupid to hoard that much cash because they are crippling economic growth themselves.
Now that I have answered your stupid questions, it's time for you to answer my meaningful ones. As usual, I doubt you'll give me straight answers anyway.
Given HK's already low tax rate, how would further lowering taxes or increasing tax exemption help the poor? The poor already doesn't have to pay any income taxes. When they are already paying nothing, how does giving them higher exemption amounts help? How?
I also see you purposely avoiding the topic of the SAR government putting money into 強積金. Please enlighten me with your infinite economics knowledge on who that move is helpful to the HK general public. It is a well-known and undisputed fact that management fees for 強積金 is way high, and that most people have lost money on the "investment". Now, let me ask you this -- who makes money on having higher 強積金 amounts? The investment firms, or regular Joe? Why is the SAR government willing to transfer this benefit to investment firms, but not to the citizens of HK? Why? A lot of people could make good use of this $6k right now, not wait until they are 65. When they can't even survive at this moment, what good does that $6k when the government tells them they'll get it at 65? They might not even make it there.
如果咁樣都唔係涼薄、唔係漠視窮人，咁點先算係呢？
Now answer me.
-Lik |
發表於 2011-2-23 10:18
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