– Narok Senator Ledama Ole Kina said the bill will guarantee the future of Kenyans by inculcating the culture of saving
– The ODM lawmaker said the monies will be deposited in a special government fund set to be created tax free
– Netizens had mixed reactions to the remark with some noting their money will be stolen as they do not trust the government
Narok Senator Ledama Ole Kina has vowed to introduce a bill in Parliament to compel Kenyans to save 40% of their earnings.
The Orange Democratic Movement (ODM) lawmaker argued the bill if passed, will guarantee the future of Kenyans by inculcating the culture of saving.
On his Twitter page on Monday, December 16, the vocal politician said the monies will be deposited in a special government fund tax free.
“Enough is enough! We must change the future of Kenya. Every Kenyan must be guaranteed of a future. To do so, I shall introduce a bill in parliament, which mandates every Kenyan to save 40% of their earnings (untaxed) in a special government fund and do away with tax on capital gains,” he tweeted.
The Senator further proposed the state can borrow loans from the fund instead of going for the expensive commercial international loans.
“Once the fund is in place, the government can borrow from it and pay for development projects and stop borrowing from foreign countries. Citizens can also use their credit towards buying their own homes regardless of their contributions. Whatever is not utilized earns an interest,” he argued.
Netizens on social media had mixed reactions to the remark saying their money will be stolen as they do not trust the government.
Some maintained the concept of savings is a personal choice and as such they should not be forced.
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