Sat, Nov 17, 2007 - Page 3 News List

Hsieh shares `dream' of cutting income tax

MENDING THE GAP The DPP presidential candidate said reducing income tax rates would restore the middle class and combat the growing cleft between rich and poor

By Shih Hsiu-chuan  /  STAFF REPORTER

Democratic Progressive Party presidential candidate Frank Hsieh (謝長廷) said he would propose reducing income tax for enterprises and individuals and levying energy taxes if elected next year.

Hsieh discussed his stance on the tax system at a meeting with representatives of businesses investing in Kaohsiung County industrial parks.

"It's my dream to reduce taxes -- not only personal income tax but also enterprise income tax," Hsieh said.

Hsieh did not elaborate on the rate of the tax cut he envisioned.

Hsieh said that a tax cut would restore the middle class, which has gradually disappeared with the emergence of an "M-shaped economy" and a wide rich-poor gap.

"People lose their willingness to work and invest money if they have to give everything they earn to the government," Hsieh said.

Hsieh has also said he will reduce inheritance tax and gift tax from 50 percent to less than 10 percent if elected. In addition, he has proposed an amnesty for overseas Taiwanese businesspeople who have violated caps on investment in China, inviting them to return and invest in Taiwan.

"We will grow wealthy and be able to cut taxes once we reverse the outflow of under-the-table funds," Hsieh said.

Hsieh said tax revenues would increase after the Statute for Stimulating Investment (獎勵投資條例), which grants businesses a variety of tax breaks as investment incentives, expires in 2009 and with the imposition of energy taxes.

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