Raise taxes on the Rich - in Singapore

[enterprise2]

The US has done it. Nows our turn. It's time the rich bear a bigger burden and contribute more to the nation's coffers so that it can then spend more on social welfare. How about it? Those households with $400k annual income and above.

 

[enterprise2]

Yes that means U,....the MIWs, the ministars, perm secs,.....etc

 

[Narong Wongwan]

Yes that means U,....the MIWs, the ministars, perm secs,.....etc

No use lah. Machiam the 'pay cut', they will find another way to make up the shortfall.

 

[batman1]

Yes that means U,....the MIWs, the ministars, perm secs,.....etc

The PAP will tax the common citizens more,detain your CPF,increase prices of water and electricity,increase transport fares,increase COE prices,increase ERP fees,push up property prices,increase maintenance fees,increase school fees,increase tertiary education fees,...etc.....etc
The PAP has abolished estate duty .Why ? Do u all know how many properties (bungalows and condos local and overseas ) each PAP minister own ?

 

[Kinana]

Only ppl w no backbone want to live off others

 

[FTalent]

Only ppl w no backbone want to live off others

Yep...fully agree.

 

[ray_of_hope]

The US has done it. Nows our turn. It's time the rich bear a bigger burden and contribute more to the nation's coffers so that it can then spend more on social welfare. How about it? Those households with $400k annual income and above.

Social welfare? Please raise it with them personally during the National Conversation.
I am sure they will appreciate your contribution.

 

[enterprise2]

So even in Sinkapore it's more difficult to get our top 1-2% to pay a few more dollars (they prob wont feel it anyway) than getting the 70-80% to pay more taxes. At least our gahment seem to think so!

 

[batman1]

Only people with no backbone and shame cheat and plunder the people's money.They will be burnt in hell.

 

[Kinana]

Only people with no backbone and shame cheat and plunder the people's money.They will be burnt in hell.

That's right. Do charity with your money, not other peoples money like Obama

 

[halsey02]

That's right. Do charity with your money, not other peoples money like Obama

I have already done that, & many of us too, we donated to a charity called "CPF".

 

[po2wq]

That's right. Do charity with your money, not other peoples money like Obama

gamble wif ur own moni ... n not other ppl's cpf moni ...

 

[halsey02]

gamble wif ur own moni ... n not other ppl's cpf moni ...

LONG TERM INVESTMENTS - the longest possible returns & payment, say in a 100 years! that is long term.

 

[Whats4]

The PAP will tax the common citizens more,detain your CPF,increase prices of water and electricity,increase transport fares,increase COE prices,increase ERP fees,push up property prices,increase maintenance fees,increase school fees,increase tertiary education fees,...etc.....etc
The PAP has abolished estate duty .Why ? Do u all know how many properties (bungalows and condos local and overseas ) each PAP minister own ?

they are only good in taxing, when it comes to the economy, all hopeless.

http://www.bloomberg.com/news/2012-...rsist-as-economy-seen-entering-recession.html

 

[Charlie99]

The US has done it. Nows our turn. It's time the rich bear a bigger burden and contribute more to the nation's coffers so that it can then spend more on social welfare. How about it? Those households with $400k annual income and above.

I believe that the personal income tax rates in Sg should be more progressive, starting with taxable income in excess of $120,000, such that those with taxable income of $500,000 should be taxed at a marginal rate of 33 per cent to 40 per cent or higher, because there is no capital gains tax in SG.

 

[ray_of_hope]

I believe that the personal income tax rates in Sg should be more progressive, starting with taxable income in excess of $120,000, such that those with taxable income of $500,000 should be taxed at a marginal rate of 33 per cent to 40 per cent or higher, because there is no capital gains tax in SG.

A capital gains tax only makes sense if there is tax relief on capital losses.
In other countries there is tax relief (or tax deduction) on capital loss on property transactions and realised stock market losses.

In other words the two tend to cancel each other out.

 

[Kinana]

I believe that the personal income tax rates in Sg should be more progressive, starting with taxable income in excess of $120,000, such that those with taxable income of $500,000 should be taxed at a marginal rate of 33 per cent to 40 per cent or higher, because there is no capital gains tax in SG.

A progressive tax makes no sense at all because it is wrong and immoral to use other people's money to do charity.
A flat tax would be best as it taxes only expenditure and will boost income levels for all in the long run.
A progressive tax tends to stiffle the economy and we will end up like western countries who are now stuck in a quagmire with no way out

 

[mojito]

Let us raise taxes on corporations and aliens to make sure Singaporeans are not disadvantaged in their home turf.

 

[zhihau]

they are only good in taxing, when it comes to the economy, all hopeless.

welcome back, bro!
happy new year!

 

[Vigilante]

Indirect taxation is still a better instrument. It can also be tailored into the social integration policy of Singapore, for example, all non-citizens have to pay 200% of COE, higher stamp duty for housing purchase, etc.