The Hard truth is CPF is based on a big fat lie! Here's why...

[shittypore]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Why this fcuking PAP dont understand that Sinkies are sick of thier wayang. Just ret all our CPF at 55, if Termasick and GLC go bust thats their business, Sinkies cant be pleasing these Companies.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

tax system is about wealth redistribution,the poor is not going to save anything because they are earning jackshit in the first place.if they have tons of disposable income we wouldnt be calling them poor.

The tax system should not be about wealth distribution. I am against any tax system that redistributes wealth.

 

[Sinkie]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The government changes policies for the overall good of Singaporeans. All significant changes are well publicised.

Rules are never cast in stone. In NZ, things change all the time and welfare benefits are being withdrawn gradually by the government. Of course the lazy people are up in arms but hardworking kiwis are happy with the changes which is why they returned the Key govt to power in 3 consecutive elections.

If the majority are against the PAP and its policies, then it will lose the next election. If it is still in power in 2017, it means that the policies are appreciated by the majority even though they may not be perfect.

Enough lah.....don't bullshit on this 'all significant changes are well publicised'.......you and I know this is totally untrue.

The govt cannot change policies like changing women. As long as a promise is given, it is cast in stone. Don't avoid this transgression and sweep it under the carpet.

Like I say, the govt is given ample opportunity to explain and address this sensitive CPF issue for many years already. Instead of huddling down to figure out the best way to honor this promise, the effort and propaganda instead are spent to throw more smoke and mirrors to confound everyone further and then hope the problem will go away. Well, like you say, I'm also waiting for the next erection. I see this as the single issue that will be the ruling party's albatross round its neck. I can't wait to see the outcome.

 

[Sinkie]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

In that case you won't like most 1st world countries because the GST is sky high!

As for the rich it does not matter where you are in the world. The rich are not affected by government policies because they don't waste time complaining. They concentrate on circumventing. If you look at the NZ rich list, most of them don't live in NZ.

But they've social security and welfare.......please, see the big picture and not see things through a tunnel vision. Also to say the rich does not matter where they're in the world, that is totally nonsense. It does matter, and it's not so simple either. The GOP wants to bring down taxes, because its lobby is the rich and very rich. So, it matters but you never see it so blatantly out in the open. It is camouflaged in avoidance of taxes and creative manipulations of the tax structure to minimize its impact. And they have mobility to move their money around the world. This is another story altogether, and will not do justice to write just a few sentences on it. In a nutshell, it is not as simple and naive as you think.

 

[frenchbriefs]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The tax system should not be about wealth distribution. I am against any tax system that redistributes wealth.

u are living in a country that has benefited immensely from wealth redistribution,u think ur fellow aussies and kiwis would be living that happily and comfortably without wealth redistribution?come back to singapore....pls u can witness the great wealth inequality here,porsches and mercedes everywhere while bus drivers earn 1000 a month bangras and indian slave under the sun for $2 an hour and grannies and gramps clearing dishes at hawkers for $800 a month.

 

[Sinkie]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The tax system should not be about wealth distribution. I am against any tax system that redistributes wealth.

Don't defend an indefensible and dishonorable scheme that breaks its sacred promise to its members.

 

[shittypore]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The tax system should not be about wealth distribution. I am against any tax system that redistributes wealth.

35yrs ago salary 350, price of pigeon 4 hole cost 20k, cars cost 12k to 15k, food and transport manageable. Today, salary 2500, price of pigeon hole 350k, cars all abv 70k, food and transport times 150%. The whole Salary structure played by the PAP that makes Sinkies poor. Not all are fortunate to venture in business and be successfull, talk is cheap.

 

[kiwibird7]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Don't defend an indefensible and dishonorable scheme that breaks its sacred promise to its members.

1. The CPF account holder DID NOT AGREE to any changes in the CPF changes; minimum sum scheme etc
2. There was NO REFERENDUM following the HOWE YOON CHONG report and tweaks that followed thereafter.
3. Should any changes be made; it should only apply to CPF account holders after 1984 implementation with an opt out scheme for those who are prepared to sign a personal non-liability waiver.
4. The govt excuse that those who squander their CPF will need govt welfare assistance is BULLSHIT, there is NO WELFARE whatsoever even now; destitutes in void decks, cardbox collectors, aluminium drink can collectors, tissue sellers at FC with no CPF receive non existent welfare assistance from the govt.
5. The lack of trasparency and the holding back of lump sum CPF payments reeks suspiciously of a serious CASH FLOW problem. If any bank were to do the same with TERM DEPOSITs that matured but not paid in full, one would see a RUN ON THE BANK immediately.

 

[hofmann]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The tax system should not be about wealth distribution. I am against any tax system that redistributes wealth.

Then what should be the purpose of tax? Gst is clearly about wealth distribution.

 

[kiwibird7]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Then what should be the purpose of tax? Gst is clearly about wealth distribution.

GST is a regressive tax system that puts more burden on the poor than the rich. A reverse of ROBIN HOOD, the poor are robbed to pay the rich.

A low income family and a millionaire family both consume the same 10 kg bag of rice per month, the 7%GST component of the bag of rice (eg $1.80) would place a heavier burden on the poor family ($1000 income) than the rich one ($100,000 income).

 

[frenchbriefs]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Then what should be the purpose of tax? Gst is clearly about wealth distribution.

gst is to offload the tax burden of companies to the consumers i read somewhere.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Then what should be the purpose of tax? Gst is clearly about wealth distribution.

The purpose to tax is to fund public expenditure to help keep the country functioning in an efficient manner. It should never be used for social engineering. It was the creation of the welfare system that hijacked the whole purpose of tax collection and turned it into monster.

GST is just another form of taxation. It is a consumption tax as opposed to a direct tax on earnings.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

GST is a regressive tax system that puts more burden on the poor than the rich. A reverse of ROBIN HOOD, the poor are robbed to pay the rich.

A low income family and a millionaire family both consume the same 10 kg bag of rice per month, the 7%GST component of the bag of rice (eg $1.80) would place a heavier burden on the poor family ($1000 income) than the rich one ($100,000 income).

GST is the fairest of all tax systems as the rich will end up paying far more than the poor because they consume far more and it is very hard to avoid.

The rich buy far more than just bags or rice. For example, A recent Singapore immigrant I know arrived last month and bought himself a Range Rover and a Ferrari. The bill came to almost $700,000 for both. He paid $105,000 in GST.

The poor would never have to pay such a large amount in GST simply because they consume far less.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

1. The CPF account holder DID NOT AGREE to any changes in the CPF changes; minimum sum scheme etc
2. There was NO REFERENDUM following the HOWE YOON CHONG report and tweaks that followed thereafter.
3. Should any changes be made; it should only apply to CPF account holders after 1984 implementation with an opt out scheme for those who are prepared to sign a personal non-liability waiver.
4. The govt excuse that those who squander their CPF will need govt welfare assistance is BULLSHIT, there is NO WELFARE whatsoever even now; destitutes in void decks, cardbox collectors, aluminium drink can collectors, tissue sellers at FC with no CPF receive non existent welfare assistance from the govt.
5. The lack of trasparency and the holding back of lump sum CPF payments reeks suspiciously of a serious CASH FLOW problem. If any bank were to do the same with TERM DEPOSITs that matured but not paid in full, one would see a RUN ON THE BANK immediately.

Countries cannot be run by referendum. The government needs to do what is best for the country and not what is the most popular.

When you bring up your children, you don't hold a referendum on parenting matters. You do what you feel is best for your kids in the long term even though they may hate you for it.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

gst is to offload the tax burden of companies to the consumers i read somewhere.

Companies have far more onerous tax burdens compared to consumers. Try running one and you'll be horrified.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

35yrs ago salary 350, price of pigeon 4 hole cost 20k, cars cost 12k to 15k, food and transport manageable. Today, salary 2500, price of pigeon hole 350k, cars all abv 70k, food and transport times 150%. The whole Salary structure played by the PAP that makes Sinkies poor. Not all are fortunate to venture in business and be successfull, talk is cheap.

The ability to earn a good salary lies with the individual not with the government. Nobody should be guaranteed a comfortable salary. It would make a mockery of any system if you could be paid a king's ransom for doing a routine job which requires no skills.

As for business success it has nothing to do with being fortunate. Success comes from hard work and perseverance.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

u are living in a country that has benefited immensely from wealth redistribution,u think ur fellow aussies and kiwis would be living that happily and comfortably without wealth redistribution?come back to singapore....pls u can witness the great wealth inequality here,porsches and mercedes everywhere while bus drivers earn 1000 a month bangras and indian slave under the sun for $2 an hour and grannies and gramps clearing dishes at hawkers for $800 a month.

On the contrary I am living in a country which has not been able to realise its true potential as a result of wealth redistribution.

The welfare system is like a black hole which has sucked the life out of the country. As a result the infrastructure is pathetic, the roads are not maintained, projects are hampered by lack of funds, health care ranks way behind Singapore.

The country cannot even afford to defend itself should it be threatened. It has no navy and no air force to speak of.

NZ spent $27.3 BILLION in welfare and social security payouts last year. It gets nothing in return as this money is used to fund the lifestyles of the useless of society who think everyone owes them a comfortable existence.

Because they don't have to work, they spend their time growing weed and causing trouble for the rest of us.

 

[hofmann]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The purpose to tax is to fund public expenditure to help keep the country functioning in an efficient manner. It should never be used for social engineering. It was the creation of the welfare system that hijacked the whole purpose of tax collection and turned it into monster.

GST is just another form of taxation. It is a consumption tax as opposed to a direct tax on earnings.

Then all taxes should be abolished and we move to a purely pay per use system. If businesses enjoy the stability provided by defense (SAF for example) then they should foot the bill accordingly.

It is time to re-work the social contract between citizens and the state.

Indeed, elections are coming soon.

 

[soIsee]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Countries cannot be run by referendum. The government needs to do what is best for the country and not what is the most popular.

When you bring up your children, you don't hold a referendum on parenting matters. You do what you feel is best for your kids in the long term even though they may hate you for it.

Hey that explains why so many kids are brought up 'fucked up' and remain fucked up when they became adults.

Thanks for the 'explaination'. LoL

 

[frenchbriefs]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Companies have far more onerous tax burdens compared to consumers. Try running one and you'll be horrified.

u dont understand,GST is a direct tax on the consumer and relieves the tax burden on companies.....lets say a company,watson generates 100 million in sales revenue this year....a 7% gst is already a 7 million pure tax revenue generated from customers.....

if watson has a gross profit margin of 12% that means out of 100 million revenues generated 12 million is profit,in order to generate a similar 7 million in tax revenue,we would have to tax watson up to 60% of their gross profit....that is 60% corporate tax.

but since the government implements a GST,this allows them to tax the companies far less thus allowing them to keep a greater portion of their profits.....but transferring the tax burden to the consumers.

whats more can u imagine if watson made a loss that year?maybe their revenues was only 86 million and they couldnt cover their operating costs of 88 million?no problem!!!with the GST we can guarantee the government makes money as long as the companies keep selling regardless......this means the government is draining wealth out of their population!!!