Bangkok: Assistant Professor Wanwichit Boonproong from Rangsit University criticized the Pheu Thai Party's policy of distributing millions of baht, emphasizing its lack of structural benefit and potential to establish a precedent for extreme populist politics.
According to Thai News Agency, the Pheu Thai Party recently launched its economic policy titled "Get Rich Every Day with 1 Million Baht for 9 People," which aims to distribute 1 million baht daily to 9 Thai individuals, totaling 9 million baht per day. This policy targets various groups, including farmers, community health volunteers, senior citizens, taxpayers, and the general public. Assistant Professor Wanwichit asserted that the policy serves more as a campaign tool rather than generating any tangible economic or social structural benefits.
Assistant Professor Wanwichit argued that the practice of distributing funds to a select few each day does not foster a real economic ripple effect or contribute to sustainable development. He contrasted this with policies focused on enhancing productivity, creating jobs, or increasing income levels across the broader economy.
"This money was spent in a manner akin to throwing away public funds. It had no economic multiplier effect and failed to truly address the economic hardships of the majority of the people," Assistant Professor Wanwichit said.
Moreover, Assistant Professor Wanwichit expressed concern that the policy could set a troubling precedent for Thai politics by promoting an extreme populist ideology, where political strategies revolve around "personal cash handouts" rather than implementing systemic policies that are verifiable and accountable for the country's fiscal standing.
He warned that if Thai politics continues on this path, it could lead to a decline in academic rigor in public policy-making and transform government budgets into tools for gaining popularity rather than genuinely addressing structural challenges.
Assistant Professor Wanwichit also criticized the justification that the policy's aim is to "draw citizens into the tax system," stating that it is inconsistent with economic principles and public policy. He suggested that expanding the tax base can be achieved through improving information systems, creating tax incentives, simplifying procedures, enhancing law enforcement, or linking state welfare to taxpayer status, all of which are sustainable methods that do not involve massive cash handouts.
Using "giving millions to individuals" as a means to incorporate people into the tax system is merely a rhetorical device to legitimize extreme populist policies rather than a genuine fiscal reform measure, he pointed out.
'If the goal is to increase taxpayers, the government should invest in systems and mechanisms, not gamble on handouts like a political lottery, which doesn't create tax discipline and doesn't change public behavior in the long run,' Assistant Professor Wanwichit concluded.