Govt should act as ‘referee’ to ensure fair income distribution, says PSM

 

While the nation’s GDP has increased 28 times since 1970, wages have only increased by 1.5 times over the same period, says Dr Michael Jeyakumar Devaraj.

KUALA LUMPUR: Parti Sosialis Malaysia (PSM) has called for the government to act as a “referee” to ensure there is fair wealth distribution to all levels of society.

PSM chairman Dr Michael Jeyakumar Devaraj suggested at a press conference that the government play that role by taxing the rich in order to provide a social protection scheme for those in the lower income groups, especially the B40, as a way to redistribute wealth.

Dr Michael Jeyakumar Devaraj.

“The government can provide all these (social protection schemes) with the income (derived from taxing the rich),” he said.

He added that the wealth of this country lies in the hands of giant corporations and tycoons who have made many ordinary people, such as retirees and wage earners, face the economic burden.

According to his party’s research the wages for Malaysian workers has remained stagnant since 1970 until 2019 despite the huge increase in GDP throughout the same period.

“This country is not poor, from 1970 until 2019 the GDP has increased by 28 times.

“But the workers wages only increased 1.5 times,” the former Sungai Siput MP said. - FMT