PSM deputy chairperson S Arutchelvan called for a wealth tax following the news that the wealth of Malaysia’s 50 richest people increased from last year, adding that funding from a wealth tax could be channelled towards upgrading public hospitals, building affordable housing, and pension schemes for the elderly.
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Wealth tax
“It is time the Madani government ensures taxing the rich to distribute the wealth, a value which would very much sound Madani and Islamic in nature. Rhetoric in fighting the super-rich needs enforcement,” Arutchelvan says today. Forbes Asia says the collective wealth of local tycoons rose by two percent to US$83.4 billion (RM399.5 billion) from US$81.6 billion (RM376.2 billion) last year.
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