{"id":17073,"date":"2020-03-12T18:57:37","date_gmt":"2020-03-12T10:57:37","guid":{"rendered":"http:\/\/maddruid.com\/?p=17073"},"modified":"2020-03-12T19:08:16","modified_gmt":"2020-03-12T11:08:16","slug":"2904-reintroducing-gst-now-means-austerity","status":"publish","type":"post","link":"https:\/\/maddruid.com\/?p=17073","title":{"rendered":"[2904] Reintroducing GST now means austerity"},"content":{"rendered":"<p><strong>Is this the right time to reintroduce the GST?<\/strong><\/p>\n<p>No.<\/p>\n<p>It is definitely the wrong time to reintroduce the GST at the previous rate of 6%.<\/p>\n<p><strong>Why is it the wrong time?<\/strong><\/p>\n<p>Because in time when economic growth is dropping off the cliff, having GST at 6% is essentially having an austerity program. It will exacerbate the situation. If you are worried about government finance, remember, government finance is not the economy. Do not forget that.<\/p>\n<p><strong>Why is it an austerity?<\/strong><\/p>\n<p>The current SST level is approximately equivalent to 4% of GST. Possibly slightly higher than 4% as the new SST has been improved to cover new items. Having GST at 6% is effectively a tax hike from the status quo.<\/p>\n<p>And a tax hike in time of economic slowdown will make the downturn worse. A tax hike is austerity.<\/p>\n<p><strong>How about GST at 4%?<\/strong><\/p>\n<p>No. Just do not mess with it at this time. There will be an appropriate time to do so. Do not be so noob about it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is this the right time to reintroduce the GST? No. It is definitely the wrong time to reintroduce the GST at the previous rate of 6%. Why is it the wrong time? Because in time when economic growth is dropping off the cliff, having GST at 6% is essentially having an austerity program. It will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[1568,1021,541],"class_list":["post-17073","post","type-post","status-publish","format-standard","hentry","category-economics","tag-austerity","tag-gst","tag-taxes"],"_links":{"self":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts\/17073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17073"}],"version-history":[{"count":2,"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts\/17073\/revisions"}],"predecessor-version":[{"id":17075,"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts\/17073\/revisions\/17075"}],"wp:attachment":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}