What if all moved to Iskandar?

What say you on the issue below?

KNOWLEDGE workers of the world, pack your bags, clear your calendar for the next six years and let us all move to Iskandar Malaysia, specifically Johor Baru, a mere three hours drive from Kuala Lumpur, where we can bask in the sun living the crazy life of the 15 per cent annual income tax.

Fifteen per cent! That's nine per cent slashed from the 26 per cent the wretches outside the region must pay.

That's supreme enrichment of personal worth, provided you're one of the hot- shots hired to work in the fields of green technology, biotechnology, educational services, healthcare services, creative industries, financial advisory and consulting services, logistics services and tourism.

The eight sectors outlined by Prime Minister Datuk Seri Najib Razak in his inaugural Budget are primarily where all the new investments and mad money will be streaming in -- the cream of industries, the cream of jobs and now the cream of the spectacular tax breaks.

So what if the Iskandar Malaysia tax break is only valuable for six years, starting today until Dec 31, 2015. It's still a lot of money you can stash away, provided your earnings hover around the top income bracket.

The prime minister acknowledged that knowledge workers (that include journalists and writers, we hope, but does that include professional bloggers, too?) are critical in boosting Iskandar Malaysia's development, especially the hot shots who add value to the region or to any of the eight sectors they involve in.

But in the rush to find the pot of gold at the end of the Iskandar Malaysia rainbow, how would that affect existing knowledge industries, especially in the Multimedia Super Corridor and Penang?

What if their workers decide that the pot of gold is lucrative enough to pack up?

What if the companies conclude that it's worth the hassle of literally moving their whole office or plant?

What if everybody thinks similarly to capitalise on this gilded opportunity, even if it lasts for only six years or less?

The other states might suddenly face an exodus of workers scrambling to raise the stakes -- better salaries, perks and promotional prospects. But it might be a strain to compete with 15 per cent.

The prime minister didn't forget the working stiffs up north. There's a one-per cent reduction in the income tax of the top earners to 26 per cent, and a RM1,000 personal relief hike to RM9,000.

Other nice personal tidbits include up to RM500 annual tax relief for broadband subscription from next year to 2012, to encourage more Internet use and in the prime minister's subtle way, prod the broadband authorities to beef up their networks and make sure the downloading of all kinds of neat stuff flow in blazing, uninterrupted speed.

There's a subtle trade-off to the horde of tax breaks, grants and upped allocations: credit card holders, and that includes the prime minister himself, will have to pay a RM50 annual service tax, ostensibly to promote prudent spending.

But do the math: RM50 multiply by 11 million cardholders on top of the 285,000 charge cardholders and RM25 per supplementary card. That's a cool RM564 million revenue per annum, give and take a few thousand delinquent cardholders.

That's ingenious.