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Analysis on Figures Quoted by Nicole Seah

Char_Azn

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Asset
Found this article on Facebook

'She' in this case, refers to Ms Nicole Seah

The video refers to: http://www.youtube.com/watch?v=YY9yU2r9ywM



It is a long story. If you have watched the video, she quoted certain numbers which is the key reason that disappointed me. First, she said that the increase in GST from 5% to 7% increases the Government Tax revenue by $1.9 billion. I don't really know how she got the number, even after searching through the Annual Report of IRAS, and looking at the public finance account in Singstat. I can only estimate the impact, on per year basis, it is definitely much lower than $1.9 billion. Just now, out of curiosity, I went to google this phrase "GST increases $1.9 billion tax revenue", to my shock, New Zealand also increases its GST (from 12.5% to 15%), but in 2010, and they estimate this increase will increase their tax revenue by $1.9 billion also. I am not really sure whether is this just a mere coincidence. Google never return me any estimates on the impact of GST from 5% to 7% in Singapore case though. This is the reason why I have some doubts over the $1.9 billion claimed by Nicole Seah. (Anyway, she has also conveniently ignore the fact that income taxes have been lowered in the recent budget)

Next, she said that only $0.4 billion of the $1.9 billion go to the poor. Again, I dun know how she got the number. As far as I know, the government did not put a breakdown as to how much money go to the poor, and how much money go to the rich. They only break down by the expenses that they incur for education, health, water resources, national development and so forth. In addition, to response to her next statement "where does the rest of the money go to?", it is easily answerable if you look at the public finance section of Singstat. There is a total of roughly $2 billion increase in development expenditures (not operating expenditure!) in 2008, and a further $1 billion increase in 2009 (despite the $3 billion fall in the revenue collected by the government). Now, this is where the money go to. Is it legitimate? I would say definitely. Is it something that can be easily found? I spent roughly 10 minutes to get this information.



Finally, she implied that we (as in average Singaporeans) are the one who pay for Minister's high salary (particularly Lee Hsien Loong's), enable PAP to use our funds to do upgrading work. Is this really the case? While there might be some truth in it, the data speaks louder than words. In 2009, there are about 3 millions workers in Singapore, inclusive of foreigners and residents, but the number of people assessed for income tax is slightly more than 1 million. This means that if you pay income tax, you are the top 1/3 earner in Singapore. Out of which, people earning $100,000 per year and above are contributing 80% to the personal income tax. These people constitute about 20% of the total taxpayers, which is around 6 to 7% of Singapore Labor force. So it is the rich people who pay the bulk of the income taxes, not the middle-income, not the poor.

th and more importantly, still enjoy budget surpluses. One is definitely come from the income taxes from the rich. However, the bulk are contributed by the corporate income tax ($9.5 billion in 2009 of which companies earning $5 million per year contributes $8 billion), property taxes, custom duties (for liquors, and cigarettes), stamp duties and betting taxes. With the 2 IRs, I believed that the betting taxes are going to increase tremendously. For the corporate income taxes, one result that is not surprising is that taxes from financial institutions alone contribute 2.8 billion, which is around 7.5% of total tax revenue that the government collected.



So what does all these numbers tell us? We are not the one who pay for the high salaries. This is the main contribution to the budget surplus. By implying, or even, directly saying that WE pay the minister's salary, most people over-estimate their earnings capacity. This is the kind of 'truth' that she talks during her rally speech. I would think that by being bimbotic, is better than someone who tell stuffs that are untrue probably due to her lack of research, or even worse, with the intention to deceive the audience and Singaporeans at large.



Hope that this will help in your voting.
 
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clinton666

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Great job junior. Very soon, Nicole Seah would declare that her biggest regret in life would be to join the Opposition Party!
 

Bigfuck

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Asset
Great job junior. Very soon, Nicole Seah would declare that her biggest regret in life would be to join the Opposition Party!

Make peace with God, my wayward son. He can still negotiate a less pain albeit still extremely painful eternity in Hell with Satan.
 

clinton666

Alfrescian
Loyal
Make peace with God, my wayward son. He can still negotiate a less pain albeit still extremely painful eternity in Hell with Satan.

You retarded gay dog :oIo:

Satan wants to do a DP with his horns on your arse now:oIo::oIo:
My place in Heaven is assured, just like a PAP clean sweep!
 

Unrepented

Alfrescian
Loyal
I make my guestimate and am not representing NSP.

Singstat reference on GST revenue:

www.singstat.gov.sg/stats/themes/economy/ess/aesa41.pdf

My Guestimate below:

Actual GST Revenue as per Singstat for year of assessment 2008 is SGD 6.632 Billion. Base on 7% GST, working backwards, gives us SGD94.7443 Billion of Taxable Supplies made.

If we use only the old rate of 5% for GST, GST Revenue should be SGD4.7372 Billion.

Marginal increase of GST collected is SGD6.632 Billion minus SGD4.7372 Billion, which give use SGD1.89489 Billion.

And "flying Pig"; if you have any love for this country and appreciation of what Nicole is doing for her citizens, you go to that facebook where you gotten the attached article and correct them:mad:

I am lazy to look at the rest of the attachment, first para already proven the poster has no brains and uses very unproductive approaches in his/her analysis.


Found this article on Facebook
 
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Unrepented

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Chaz_Azn, you act blurr or is the pig already sleeping:rolleyes:

And dont try to smear my passionate Nicole......ok????

Nicole, smouch....smouch.....dont tire yourself and take care....sweet dreams:o
 
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clinton666

Alfrescian
Loyal
I make my guestimate and am not representing NSP.

Singstat reference on GST revenue:

www.singstat.gov.sg/stats/themes/economy/ess/aesa41.pdf

My Guestimate below:

Actual GST Revenue as per Singstat for year of assessment 2008 is SGD 6.632 Billion. Base on 7% GST, working backwards, gives us SGD94.7443 Billion of Taxable Supplies made.

If we use only the old rate of 5% for GST, GST Revenue should be SGD4.7372 Billion.

Marginal increase of GST collected is SGD6.632 Billion minus SGD4.7372 Billion, which give use SGD1.89489 Billion.


And "flying Pig"; if you have any love for this country and appreciation of what Nicole is doing for her citizens, you go to that facebook where you gotten the attached article and correct them:mad:

I am lazy to look at the rest of the attachment, first para already proven the poster has no brains and uses very unproductive approaches in his/her analysis.

You moronic dumbass :oIo:

That's blasphemy..you will be going HELL for your lies:mad::mad:
 

Unrepented

Alfrescian
Loyal
You moronic dumbass :oIo:

That's blasphemy..you will be going HELL for your lies:mad::mad:

You buay song izit? I post again to just to piss you.:rolleyes: Please give me as many middle finger as you can:rolleyes:

I make my guestimate and am not representing NSP.

Singstat reference on GST revenue:

http://www.singstat.gov.sg/stats/the...ess/aesa41.pdf

My Guestimate below:

Actual GST Revenue as per Singstat for year of assessment 2008 is SGD 6.632 Billion. Base on 7% GST, working backwards, gives us SGD94.7443 Billion of Taxable Supplies made.

If we use only the old rate of 5% for GST, GST Revenue should be SGD4.7372 Billion.

Marginal increase of GST collected is SGD6.632 Billion minus SGD4.7372 Billion, which give use SGD1.89489 Billion.

And "flying Pig"; if you have any love for this country and appreciation of what Nicole is doing for her citizens, you go to that facebook where you gotten the attached article and correct them

I am lazy to look at the rest of the attachment, first para already proven the poster has no brains and uses very unproductive approaches in his/her analysis.
 
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Z

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http://sg.news.yahoo.com/blogs/singaporescene/mcys-not-stingy-dr-vivian-balakrishnan-170622205.html


MCYS has not been stingy: Dr Vivian Balakrishnan
By Faris Mokhtar | SingaporeScene – 54 minutes ago


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Minister for MCYS Dr Vivian Balakrishnan dismissed accusations that his ministry is "stingy" when it …
Minister for Community Development, Youth and Sports (MCYS) Dr Vivian Balakrishnan says that his ministry has not been "stingy" when it comes to public handouts, especially in helping needy families.
In his speech at the People's Action Party (PAP) rally for Holland-Bukit Timah GRC and Bukit Panjang SMC on Monday evening, Dr Balakrishnan shared details of his ministry's budget and how money was spent to assist families in Singapore.
Acknowledging that the budget for MCYS has increased "tremendously" since the last seven years — with this year's budget at an estimated S$1.9 billion — Dr Balakrishnan said that around S$700 to S$800 million was spent on providing subsidies such as the baby bonus policy, childcare and kindergarten subsidies.
He added that around SS$500 million is also put aside annually, for needy families in Singapore, including those who are lower-income earners, disadvantaged or require social assistance.

Dr Balakrishnan — who has been the MCYS minister for the past 7 years — also dismissed claims that his ministry tightens its belt when it comes to public assistance schemes, saying that the handout rate is now S$400, compared to S$260 in the past.
"So this is not a stingy government. People said your public assistance rate is only S$400. Well I remind you that when I first became the minister for MCYS, it was only S$260. I have increased it steadily to S$400 but even S$400 is only the cash allowance.
"If you actually ask a person who is on public assistance in Singapore and you compare this person with someone in America or UK or anywhere else in the world, I can stand here confidently and tell you the Singaporean is better off," he told the estimated 2000-strong crowd.
Dr Balakrishnan also highlighted that a family with two young children, for example, will be able receive S$1350 in cash. Apart from paying low rental fees for housing, such families will also receive free education for their children and healthcare services.
"And that's why I need to remind all of you, that we do care for our people and we do look after our people.
"We will make sure that no matter what happens to you — between the government, grassroots organisations, the community support — we will look after you, look after your parents, look after your children," he said.
At the rally, the minister also addressed concerns of the rising costs of living, housing prices and employment.
Touching on inflation, Dr Balakrishnan said that being a small country which imports commodities such as food and oil, Singapore is not able to determine and control global prices.
"So understand this is not something that the PAP has done to our people but something that happens as a result of worldwide developments," he said.
Dr Balakrishnan also echoed Prime Minister Lee Hsien Loong's comments that the most effective long-term solution to deal with rising costs is to raise salaries. But this, he said, should be done by ensuring that workers are able to obtain better jobs with higher productivity especially in a competitive globalised world.
"Let us understand that there are deep, fundamental global forces at play and it is not a political conspiracy to make life tough for Singaporeans."
He added that there are measures in place such as the Grow and Share package, GST rebates and ComCare to help Singaporeans tide over the rising costs.
"All these are big transfers of money from the government to the people who have less. Why do we do this? We do this because the people need it and we do this because we care. And that's the point you need to understand, this is a caring government," he said.
Minimum wage not the way
Turning his attention to employment, Dr Balakrishnan said that while he agrees with the opposition's intention to raise salaries, the minimum wage policy as they have advocated is not the solution.
"I agree with their (opposition) intention to raise people's wages, people should have higher wages. The question is how do you raise people's wages? The opposition way with minimum wage will cost higher unemployment."
By simply raising wages, Dr Balakrishnan argued that if the company is not as competitive, it will close down, leading to unemployment. He added that the minimum wage will also not help those who are self-employed.
Instead, the minister said that wages should rise in tandem with the skills and training of workers and pointed out PAP's Workfare solution which tops up wages of workers.
"So the point I'm trying to tell you is beware of people who sell you 'koyok' that, apparently makes the pain go away but doesn't actually cure you."
Before he ended his speech, Dr Balakrishnan cautioned voters not to be swayed by quick-fix solutions.
"Do not take what we have now for granted. We now have a strong, booming economy, we have a growing population, we have confident international investors in Singapore. But so easily, these can go wrong and when it goes wrong, you're at risk."
"We must be concerned about the future, about our children's future. And we must remember to teach them the right lessons and even as we fight this political battle, do not get taken in by populist measures that will do long-term harm to our children," he said.
A total of 13 speakers delivered their speeches at the rally, including MPs Christopher De Souza, Teo Ho Pin, Liang Eng Hwa and guest speaker, Minister of State for MCYS Mrs Yu Foo Yee Shoon, who will be retiring from politics.
Follow Yahoo! News on Twitter and become a fan on Facebook.
This article is published by Yahoo! Southeast Asia Pte. Ltd., 60 Anson Road #13-01 Mapletree Anson, Singapore, 079914.
 

Unrepented

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Thank you Zombie. Puzzle is complete. Who say singaporeans got no talent:smile:

Dont know why pui and pui dogs got no brain and so cheong hei...... spend so much time and still cant get it right........sigh.:rolleyes:

http://sg.news.yahoo.com/blogs/singaporescene/mcys-not-stingy-dr-vivian-balakrishnan-170622205.html


MCYS has not been stingy: Dr Vivian Balakrishnan
By Faris Mokhtar | SingaporeScene – 54 minutes ago


Email
Print

Minister for MCYS Dr Vivian Balakrishnan dismissed accusations that his ministry is "stingy" when it …
He added that around SS$500 million is also put aside annually, for needy families in Singapore, including those who are lower-income earners, disadvantaged or require social assistance.[/COLOR]
 

Debonerman

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Loyal
Great job junior. Very soon, Nicole Seah would declare that her biggest regret in life would be to join the Opposition Party!


<iframe width="640" height="510" src="http://www.youtube.com/embed/fslJy42tyPw?rel=0" frameborder="0" allowfullscreen></iframe>
 

Unrepented

Alfrescian
Loyal
:eek: Btw, dont need any major nor discipline, its just simple maths and the need to read widely lah.

We are voicing up, because dogs try to smear our beloved Nicole and mislead readers:rolleyes:

Neither Nicole nor Tin studied econs as a major. TJS did. leave it to him.
 
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