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KMT chairman candidate seeks tax reforms to narrow rich-poor gap

KMT chairman candidate seeks tax reforms to narrow rich-poor gap

Taipei, Dec. 28 (CNA) New Taipei Mayor Eric Chu, who is the only candidate running for the chairmanship of the ruling Kuomintang (KMT), pledged Sunday efforts to narrow the rich-poor gap, saying to achieve the goal, taxes on wealthy people must be raised and those on the working class should be lowered. One thing important is "allowing wealthy people and capitalists to be able to earn reasonable profits and letting them share the money they have made with the general public," Chu said at a presentation of political platforms in New Taipei. It was the first of 11 presentations planned by the KMT for its chairman election, slated for Jan. 17. President Ma Ying-jeou resigned from the post on Dec. 3 to shoulder the responsibility for a crushing defeat the party suffered in the Nov. 29 local government elections. The presentations will be held at different cities and counties countrywide. Chu is the only KMT candidate winning the mayoral elections of six special municipal cities -- Taipei, New Taipei, Taoyuan, Taichung, Tainan and Kaohsiung -- in the local elections. At the Sunday event, Chu proposed to revise Company Act so that the profit earnings of a company must be first spent on wage hikes for employees. He also said "it is not right" to entitle the stock dividends enjoyed by wealthy people to tax reduction or exemption. Meanwhile, Chu reiterated his pledge to promote reforms of the Constitution, including changing the current system to parliamentary system in which power and responsibility will go hand in hand. Under the current system, power is shared by a popularly elected president and his appointed premier. However, the system has for long been criticized as incommensurate since the power holders are not held responsible for their performances. (By Wang Hong-kuo and Elizabeth Hsu)


Updated : 2021-08-06 03:00 GMT+08:00