Hung’s stock tax pledge a ‘harm­ful im­i­ta­tion,’ claims DPP

The China Post - - LOCAL - BY STEPHANIE CHAO

Demo­cratic Pro­gres­sive Party (DPP) chair­woman and pres­i­den­tial hope­ful Tsai Ing-wen ( ) called out ri­val Kuom­intang ( KMT) can­di­date Hong Hsiu-chu’s ( ) stock tax pledge yesterday, stat­ing it was “harm­ful” im­i­ta­tion of the DPP’s plans three years ago.

Tsai said, in a state­ment pro­vided by DPP spokesman Cheng Yun-peng ( ), that three years ago, the DPP pushed an al­ter­na­tive to Pres­i­dent Ma Ying-jeou’s pro­posed cap­i­tal gains tax pro­vi­sion plan. Hung’s plan is a copy of that same plan, only with dif­fer­ent tax rates, the DPP claimed.

“Hung’s ver­sion of the tax rate plan will dam­age fi­nan­cial and tax­a­tion equal­ity,” Tsai said. The pro­posal by the rul­ing party’s pres­i­den­tial can­di­date also con­tra­dicted her party’s pol­icy from three years ago, said Tsai, which she claimed, meant that the Ma gov­er­ment’s de­ci­sion was hastily made and in­cor­rect, Tsai said.

The chair­woman stated that she has not see any high-rank­ing KMT party mem­bers come out to shoul­der re­spon­si­bil­ity for the cur­rent failed cap­i­tal gains tax plan, which un­der­went a num­ber of re­vi­sions that had a sig­nif­i­cant im­pact on in­vestors and share­hold­ers.

“Who should be held re­spon­si­ble for caus­ing pain over the past three years?” Tsai de­manded.

Hung’s pledge which was an­nounced on Tues­day, pro­posed a 0.25-per­cent tax on stock trans­ac­tions and a 0.05-per­cent tax on stock trans­ac­tion gains. There is cur­rently a trans­ac­tion tax of 0.3-per­cent on stock mar­ket trades, but taxes on trans­ac­tional gains have yet to be im­ple­mented.

Sweep­ing Black Money Forces

The DPP Cen­tral Stand­ing Com­mit­tee also passed a pro­posal to amend the Lo­cal Gov­ern­ment Act, call­ing for the im­ple­men­ta­tion of recorded vot­ing for elec­tions of city and county coun­cil speak­ers and deputy speak­ers and the sus­pen­sion of speak­ers in­volved in coun­cil elec­tion vote-buy­ing.

The pro­posal was sub­mit­ted by com­mit­tee mem­bers Tainan Mayor Wil­liam Lai ( ) and Kaoh­si­ung Mayor Chen Chu ( ) and also ad­vo­cated by Tsai.

The pro­posed amend­ments are seen as a at­tempt to sup­port Lai’s re­fusal to at­tend meet­ings of the Tainan City Coun­cil, a de­ci­sion based on his de­mands to see Tainan Coun­cil Speaker Lee Chuan-chiao’s (

) al­leged buy­ing of votes pun­ished by the courts.

Sus­pen­sion of coun­cil speak­ers should be im­me­di­ate once they are charged with bribery in speak­er­ship elec­tions, the two DPP com­mit­tee mem­bers pro­posed. Tsai said she ex­pects the DPP party cau­cus to push for­ward the amend­ments in the Leg­isla­tive Yuan.

End­ing cor­rupt money is an im­por­tant re­form in lo­cal pol­i­tics, Tsai stated.

“Black money forces” have been strength­ened through bribery in elec­tions and will not only mo­nop­o­lize and di­vide lo­cal public re­sources, but Tai­wanese so­ci­ety “will also have to pay a painful price,” Tsai warned.

The chair­woman named deal­ing with “sweep­ing black money pol­i­tics” as the sixth plank of her po­lit­i­cal re­form plat­form to seek jus­tice for Tai­wanese so­ci­ety, echo­ing pre­vi­ous an­nounce­ments in Kaoh­si­ung, Tainan and Chi­ayi.

“Black money pol­i­tics is poi­sonous for demo­cratic gov­er­nance,” Tsai said. “The DPP prac­tices meth­ods to thwart black money oper­a­tions from interfering with lo­cal coun­cil speak­ers’ elec­tions. How­ever, this was met with le­gal ac­tion and op­po­si­tion from con­ser­va­tive forces.”

Re­form is the only way to main­tain trans­par­ent and public coun­cil speaker and deputy speak­er­ship elec­tions, and up­hold the con­sti­tu­tion, Tsai said. Sus­pen­sion fol­low­ing al­le­ga­tions of wrong­do­ing will also have a de­ter­ring ef­fect on bribery elec­tions.

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