Hon Hai Precision Industry Co founder Terry Gou (郭台銘) on Saturday said that if elected president, he would levy additional taxes on wealthy people that would earn the government about NT$160 billion (US$5.14 billion) annually.
As one of the richest people in the nation, he has a better understanding than many about how to tax wealthy people, he said.
“While others expect to collect only NT$8 billion to NT$15 billion in taxes on rich people, my method is expected to collect as much as NT$160 billion,” Gou wrote on Facebook.
After entering the Chinese Nationalist Party (KMT) primary, in which he is one of five candidates, Gou called for a new tax on the richest people to encourage them to shoulder a bigger burden of social welfare costs.
“The richest people should bear a greater share of the social responsibility,” he said, adding that his “special taxation” program would collect taxes from the richest 1,000 people in three brackets.
As a vocal critic of the efforts of President Tsai Ing-wen’s (蔡英文) administration to reduce the retirement benefits of military personnel, civil servants and public-school teachers, Gou has repeatedly said that an additional tax on wealthy people would be the right move in pushing for social welfare.
A low birthrate and an aging society are the most pressing threats facing Taiwan, and a new tax on rich people would be an ideal way to expand the government’s coffers and help the nation solve these social problems, Gou said.
In a bid to boost the nation’s birthrate, he promised that if he is elected, his government would cover childcare costs for children aged six or under.
Former Taipei City mayor Eric Chu (朱立倫), another KMT presidential hopeful, said Gou’s proposed tax could have a negative effect.
There were only 123 people in Taiwan who paid personal income tax of more than NT$100 million last year, Chu said.
Chu urged Gou to check his data before calculating how much tax revenue his proposal would bring in.
“Do not kill the goose that lays golden eggs,” Chu said.
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