What's being said on facebook.com/southchinamorningpost
On a proposed tax of up to 2.5 per cent to fund a HK$3,000-a-month pension for all Hongkongers over 65.
Of course the rich and middle class would opt out of the tax immediately. Funded by the poor only, the tax wouldn't be able to put out what it had promised, and would collapse.
Once a small amount of welfare is offered, very quickly people will get an entitlement mentality and demand more, like every failing European socialist economy.
Cancel the Mandatory Provident Fund and have the Monetary Authority monitor and invest the fund collected by the tax, not MPF companies.
As long as employers contribute a matching amount, can't weasel out of contributing by manipulating working hours or contracts, and can't get their hands on what they contributed, should work fine!
