• Fri
  • Aug 22, 2014
  • Updated: 4:57pm
Public Eye
PUBLISHED : Wednesday, 15 January, 2014, 3:36am
UPDATED : Wednesday, 15 January, 2014, 3:36am

Tax the fat cats and give the city's poor a break

BIO

Michael Chugani is a Hong Kong-born American citizen who has worked for many years as a journalist in Hong Kong, the USA and London. Aside from being a South China Morning Post columnist he also hosts ATV’s Newsline show, a radio show and writes for two Chinese-language publications. He has published a number of books on politics which contain English and Chinese versions.
 

Today, Chief Executive Leung Chun-ying delivers his second annual policy speech in the Legislative Council. Expect missile-hurling theatrics from radical legislators, after which it becomes a ho-hum affair, with senior officials and lawmakers struggling to stay awake. If you manage not to nod off, two things Leung is expected to say might make your blood boil. They are already making Public Eye's blood boil. One concerns poverty. Media reports say Leung will help the poor with a government subsidy for families earning about 60 per cent or less of the median monthly household income. We find nothing wrong with that. What is sickening is that 150,000 households fall into this category. The median monthly household income of super-rich Hong Kong is a meagre HK$22,000. And yet 150,000 families earn below 60 per cent of that. By subsidising these families, the government is in fact using your tax dollars to subsidise the city's fat-cat employers who are too mean to pay decent wages. The rich get richer and the poor get poorer in this town. Now you know why. And the fat-cat employers have the gall to say we should import foreign workers because of a manpower shortage. Of course there is a shortage if they pay slave wages. People would rather stay home or collect welfare. Financial Secretary John Tsang Chun-wah let it be known last week through his unidentified minions that the government's cash reserves would dry up in 20 years because of increased welfare and other spending. We have zero faith in this forecast since Tsang cannot even get his annual budget forecasts right. But if he is that worried, there is a quick fix - tax the fat cats. It is outrageous to use public money to subsidise the slave-wage bills of bosses, while the rich pay the same tax percentage as their underpaid staff.

 

Leung bows to employers' wishes on MPF rules …

Fat-cat employers will continue getting another subsidy - this one from their own workers. Media reports say Leung was originally set to announce today the scrapping of a ridiculous Mandatory Provident Fund rule that allows employers to pay retirement money from the wallets of the workers themselves. Under this rule, bosses can use their contributions to your MPF to give you severance pay if you are fired or laid off. This, in fact, means you are subsidising the boss who fires you. But reports say Leung has bowed to the fat cats and removed scrapping of the rule from his policy speech. Talk about being gutless.

 

… And if you are one of the rich, the rules don't apply

More fat-cat news - this one about the fat cats who belong to the Hong Kong Golf Club. It has emerged that the Fanling club has eight large illegal structures. The club members pay just HK$1 a year for the three Fanling golf courses. This means ordinary Hongkongers subsidise the rich to play golf. Yet they still build illegal structures for their enjoyment. What is worse, our weak-kneed Lands Department has turned a blind eye. It says the illegal structures pose no structural danger. Go ahead, everyone, build an illegal structure. Just make sure it poses no structural danger.

Michael Chugani is a columnist and TV show host. mickchug@gmail.com

 

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This article is now closed to comments

lui.thw@gmail.com
The trickiest part of taxing the fat cats is that the fat cats can always leave the city with all their fat if the tax is too high. Hong Kong has no means to control those capital.
asreid
Whilst Mick Chugani is correct that the rental paid by HKGC for the Fanling site is horrificly low, he needs to also take into account that the golf club is one, if not the biggest, employee in the area. By all means increase the rent to an appropriate figure but don't jeopardize peoples employment for the sake of hitting the fat cats in the pocket
honger
Oh, we are so moved that the HKGC provides jobs for the people there - in truth, the HKGC pays the local Hakka women in their black straw hats a pittance for following their members all day long........more slave labor here.
Open up the course or let the govt build housing for the people.
 
 
 
 
 

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