We discourage you to claim your BR1M as if BR1M the only one thing that you think you’ll be dreaming about for the entire year of 2015. Fast cash is amazing to have but in order to achieve sustainable asset, definitely the handout will not help much in the long run for individuals. Previously we wrote 6 smart ways spending your BR1M, now let’s get some inspiration by reverse thinking the negative side of the short term free cash. Thanks to Dr. M in his blog he pointed out few solid reasons why he disagreed with the scheme.
1. It has lesser benefits than harm to give mandatory handouts to the people as the best ways to increase their income is from the ground. The financial aid can be given to the poor people who cannot work. So it’s better to stop the bribery. The best ways to increase their income is making them opportunities for jobs and improve the quality of the country.
2. The BR1M is having many negative concepts and it is making the people to get income without any work. It increases the people’s dependency towards the government for incentives. It motivated the people to get benefits without contributing any works. It is also reducing the competitiveness among the Malaysian.
3. Increasing the pay and other kind of offers like the subsidies of goods will not increase the productivity. The competitiveness will not improve without the increase in productivity, which later might causes the economy to become unstable. In the end the country has to depend on foreign employees and entrepreneurs to improve the ecosystem.
4. Malaysia want to become as one of the developed nations in the world by 2020. It can be done only by improving the average income by a certain level, not by giving away fast cash like BR1M 4.0. Some people with very high income will distort their average income to reduce the tax. The high income level alone is not enough and it alone cannot make a country as a developed nation. The income of an individual should not be made by the handouts issued by the government.
5. We must not forget that the government is earning money with the taxes and it is collected from the people. So it is essential for a country to reduce their cost of living by avoiding handouts offered by the government. The root of the problem – increase in cost of living is caused by the raise of taxes and other government fees.
6. The achieved a mature country we should spend our money on development, industrialization and making a good infrastructure which will become the pillars helping the nation to become a developed nation in the future. Without these, the country will not be productive.
7. We should invest our money into new technologies instead of giving BR1M 4.0. By adapting new technologies and management systems, we can improve the wages of our employees in many industries. Our labors should involve in producing prototypes and making new products. Increasing the production of these sophisticated products will surely bring profits to the country.