Taxes must rise for social spending to increase

[HP_Lee]

Increase of taxes, as country is more developed. Though a citizen of a higher tax bracket status, I do encourage to the gov to tax more on the rich, while maintaining those who are at the mid or lower tier tax brackets. This is a way to contribute back to the country.

 

Taxes Must increase for social spending

[New_Atlantis]

can someone with a PHD in economics, explain why:

 

in the past Singapore had a weaker currency, but able to build this and do that without GST and increase taxes?

 

but now with a stronger currency we have to raise taxes and GST to afford the same stuff? shouldn't our purchasing power improve with a stronger currency?

Plus Singapore now has a larger population to tax, 5M and rising?

 

maybe, something somewhere within our gov is a black hole.http://www.mycarforum.com/index.php?showtopic=2681948&st=0&gopid=4581239

Edited August 31, 2012 by New_Atlantis

[Acemundo]

Increase of taxes, as country is more developed. Though a citizen of a higher tax bracket status, I do encourage to the gov to tax more on the rich, while maintaining those who are at the mid or lower tier tax brackets. This is a way to contribute back to the country.

 

Taxes Must increase for social spending

 

i read that estate duty was abolished recent year and many speculated to be due to the demise of a particular well known rich lady.

 

they should just reinstate estate duty.

[Lv3338]

Increase of taxes, as country is more developed. Though a citizen of a higher tax bracket status, I do encourage to the gov to tax more on the rich, while maintaining those who are at the mid or lower tier tax brackets. This is a way to contribute back to the country.

 

Taxes Must increase for social spending

 

probably you should also link the comment thereafter this news was published in yahoo.. those comments be more enjoying to read....

Edited August 31, 2012 by Lv3338

[Racing]

Their ccb salaries so high , reduce lah. Wtf increase Wat taxes.

Vote them out. Knn.

[Juzzme]

Many of us are already paying much higher indirect taxes through sky-high import duties for cars, even higher COE, petrol tax etc. Even though the income tax % is generally lower than other developed countries, the total tax (direct and indirect) we are paying to the govt could far exceed our contemporaries elsewhere. Not to mention, most of those countries 'give back' to the citizens thru substantial healthcare/education & social welfare subsidies.

 

Of course, the govt never put a gun to my head and force me to buy a car, just like i'm not forced to eat out and pay GST. Yes, we can all take public transport to work and stay home during the weekends. That way we avoid the high tax incidences. I'm fine with that, as long as the govt doesn't pretend that its people are living quality lives in a 'low-tax, strong social safety net' environment...not to even mention 'swiss SOL'.

Edited August 31, 2012 by Juzzme

[Neost]

If the ratio between working adults and elderly got to reduce, meaning we have less youngsters, meaning our spending in education and defence can be reduced because of lesser students to educate and soldiers to feed and kit, hence there will be savings from the budget over that 2 areas to be pumped into social spending. So increase what tax?

 

 

 

 

[Trex101]

Look like those 60% had just voted for 10% GST instead, more good year ahead.

 

Why this time never say raise GST is the help the poor? knn

[Watwheels]

Where's the transparency they like to talk so much about? At least show ppl something to justify the spending lah. Why beat around the bush?

[Gee]

tax rise is a matter of when, not if.

just wait for the gala premier news.

coming soon to the favorite mailbox near you.

a show not to be missed (or rather a show that won't miss you out).

 

[Happily1986]

I rather they slash the funds allocated for sports and devote the monies towards such social welfare schemes. the carving of MCYS pie leaves much to be desired. seriously.

[HP_Lee]

can someone with a PHD in economics, explain why:

 

in the past Singapore had a weaker currency, but able to build this and do that without GST and increase taxes?

 

but now with a stronger currency we have to raise taxes and GST to afford the same stuff? shouldn't our purchasing power improve with a stronger currency?

Plus Singapore now has a larger population to tax, 5M and rising?

 

maybe, something somewhere within our gov is a black hole.http://www.mycarforum.com/index.php?showtopic=2681948&st=0&gopid=4581239

 

5Mil ppl, and still going strong toward target 6.2Mil ppl. Theoretically speaking, stronger currency should translate better spending power, but does not apply locally. Our problem is, ever increase importation FT HNW and U-HNW. These 2 groups are driving inflation. The future core-inflation rate is no longer hovered around 1.5 - 2%. Forward average core-inflation should be around 3 - 4.5%. If the continuation of these 2 groups flowing in, the average joe maybe in trouble. The worst thing to those who does not have any children during the old age, unless they have build a large amount of savings. Which I doubt so, especially most who already having heavy housing and car loans. I can safety say that least 80% or more of Singaporeans are funding heavily on these 2 assets through working hard for the banks.

 

So the moral of the story, is things that we cannot control, we have have no choice. But we can control our spending and saving and invest.

Edited August 31, 2012 by HP_Lee

[Throttle2]

Increase of taxes, as country is more developed. Though a citizen of a higher tax bracket status, I do encourage to the gov to tax more on the rich, while maintaining those who are at the mid or lower tier tax brackets. This is a way to contribute back to the country.

 

Taxes Must increase for social spending

 

pwui pwui pwui.....

 

MittRomney's formula is for US not for Singapore, ok..... hhhmmpphhhh!

[Unfair]

Simple example.

 

If a company projects 100mil revenue(taxes) and decides to spend 200mil on salaries(+bonus) and helping other non-related companies (SMRT) buy equipment,

 

they can declare 100mil loss at the end of the year.

 

So the shareholders will all still be enjoying life and say they have to raise revenue !

[Felipe]

5Mil ppl, and still going strong toward target 6.2Mil ppl. Theoretically speaking, stronger currency should translate better spending power, but does not apply locally. Our problem is, ever increase importation FT HNW and U-HNW. These 2 groups are driving inflation. The future core-inflation rate is no longer hovered around 1.5 - 2%. Forward average core-inflation should be around 3 - 4.5%. If the continuation of these 2 groups flowing in, the average joe maybe in trouble. The worst thing to those who does not have any children during the old age, unless they have build a large amount of savings. Which I doubt so, especially most who already having heavy housing and car loans. I can safety say that least 80% or more of Singaporeans are funding heavily on these 2 assets through working hard for the banks.

 

So the moral of the story, is things that we cannot control, we have have no choice. But we can control our spending and saving and invest.

Only take house loan. Car pay full.

 

Sg soon to be rich and poor class only.

 

Dun tax more unless on rich. Cpf better buy house cos minimum sum increase every year. Have also like don't have like tat. Special account also cannot touch. Wats special account for btw?

[Damienic]

If need to raise taxes in order for social spending to increase, then how come they can afford to lose billions of dollars on the failed TH/GIC investments? doesn't make sense. What happens to the so-called budget surplus accumulated in the so-called good years then? Are they depleted?

[Felipe]

Sg has highest public debt in the world so im not banking too much on reserves

[Latka]

Look like those 60% had just voted for 10% GST instead, more good year ahead.

 

Why this time never say raise GST is the help the poor? knn

 

B'cos d line of reasoning is over used tho it does make sense.