- Joined
- Dec 30, 2010
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It is now quite obvious that it was Lee Kuan Yew's team of old guards and not himself, that's the driving force of Singapore's economy in the early stage. While we had great ideas from the 1960s right to the late 1980s, its seems that LKY is devoid of ideas today, when it comes to understanding how simple economics work. Could the absence of his trusted old guard be the cause?
It appears that LKY believes in having the numbers just for the sake of having numbers. Somehow, it looks like to him, the magic silver bullet to stimulate our economy is having numbers.
Maybe numbers do work in a crude way. With the 7% GST and the more numbers we have in Singapore, the more tax revenue Sinkie govt collects. Some economists will argue that taxation will slow down rather than stimulate our economy. But we are in a different position. With the tax collected from the GST due to larger population base because of immigration, it is the govt coffers that get fatter - to pay themselves and the many employees under their service, as well a fund govt projects.
The 7% GST is quite substantial. And you can't escape it. As long as you are a human being, never mind citizen, PR or foreigner, you have to eat, clothe yourself and have a roof over your head. It doesn't matter if you are white, black, whatever religion, healthy or sick, young or old. You need to spend on essential items - which attract the 7% GST.
Naturally, the more people we have here the greater the GST revenue. Isn't that a crude and simplistic way for the govt to collect revenue and re-distribute it back to the economy?
- http://wherebearsroamfree.blogspot.com/2012/02/lkys-over-simplistic-immigration-policy.html
It appears that LKY believes in having the numbers just for the sake of having numbers. Somehow, it looks like to him, the magic silver bullet to stimulate our economy is having numbers.
Maybe numbers do work in a crude way. With the 7% GST and the more numbers we have in Singapore, the more tax revenue Sinkie govt collects. Some economists will argue that taxation will slow down rather than stimulate our economy. But we are in a different position. With the tax collected from the GST due to larger population base because of immigration, it is the govt coffers that get fatter - to pay themselves and the many employees under their service, as well a fund govt projects.
The 7% GST is quite substantial. And you can't escape it. As long as you are a human being, never mind citizen, PR or foreigner, you have to eat, clothe yourself and have a roof over your head. It doesn't matter if you are white, black, whatever religion, healthy or sick, young or old. You need to spend on essential items - which attract the 7% GST.
Naturally, the more people we have here the greater the GST revenue. Isn't that a crude and simplistic way for the govt to collect revenue and re-distribute it back to the economy?
- http://wherebearsroamfree.blogspot.com/2012/02/lkys-over-simplistic-immigration-policy.html
