tag:blogger.com,1999:blog-5658132.post116346673388045935..comments2024-03-25T09:14:03.458-04:00Comments on Too Many Thoughts: Pay and pay, eh?Tymhttp://www.blogger.com/profile/15168089811114758802noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-5658132.post-1163638015657153652006-11-15T19:46:00.000-05:002006-11-15T19:46:00.000-05:00Ah referendums... nope. That concept is alien here...Ah referendums... nope. That concept is alien here. <BR/><BR/>Just look at the IRs.Terzhttps://www.blogger.com/profile/04120640575626672401noreply@blogger.comtag:blogger.com,1999:blog-5658132.post-1163614514986220372006-11-15T13:15:00.000-05:002006-11-15T13:15:00.000-05:00I live in Southern CA. We don't pay sales tax on g...I live in Southern CA. We don't pay sales tax on grocery/food staples & I believe its the same in all the 50 states. There is sales tax on the non-essentials though. There are governmental programs like food stamps, WIC (women with infants and children) stamps & community resources to help the poor. There are also govt. programs of free breakfasts and lunches in school for the poor kids. <BR/><BR/>We have free public education from K-12th grade even for illegal immigrants. No school fees to pay. All textbooks are provided free to the students. Students would have to buy their own stationery. All from taxes that we paid in, which I don't mind paying my share.<BR/><BR/>Also, if any city wants to raise the sales tax it has to be first put on a ballot as a measure for voting by the residents. They cannot just ram it down our throat without public hearings & finally putting it to a vote.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5658132.post-1163566666219133532006-11-14T23:57:00.000-05:002006-11-14T23:57:00.000-05:00In a private company, when funding is required for...In a private company, when funding is required for Project X, you budget it by either cutting down on expenses for the other projects, or even better, increase profits.<BR/><BR/>In Singapore, there are no profits, it's so easy to raise the GST to cover those funds. The budget balancing does not look like: cut in defense spending, increase welfare. Or cut in (failing) overseas investments, and increase social welfare. It's like... hrm... need more money, increase GST.<BR/><BR/>Going with your Prada bag example, the government makes more than the 7% you paid for the Prada bag. The wholesaler who imported the Prada bag paid 7% for it. Then the retailer paid 7% for it. Then you paid 7% for it. Unless, of course, as you mentioned, the wholesaler and retailer all made less than $1,000,000 a year.<BR/><BR/>The rounding up is surely going to hurt lots of Singaporeans. I can't imagine that if you're paying $1 for a cup of coffee, the Ah-Sok will ask you for $1.04, but more likely charge you $1.05, or $1.10. If they are told that they cannot increase the price, fine, they will serve it to you in a smaller container. Still $1 wat.<BR/><BR/>Looking at the bigger picture, a 2% increase in GST is going to cost more for the manufacturing industry in Singapore. If a company made $100 million a year in goods, their cost to do business has just gone up by 2%, and they will be paying $102 million instead. I'm sure this will be another catalyst for companies to move out of Singapore to somewhere else more favorable.<BR/><BR/>Does this mean that if "the lower income group" is going to benefit from hundreds of millions of dollars from the GST increase, there is less of a need to donate to the poor now?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5658132.post-1163560698784717112006-11-14T22:18:00.000-05:002006-11-14T22:18:00.000-05:00lumos > Don't shy lah! What's your link? It's impo...lumos > Don't shy lah! What's your link? It's important to make your voice heard.<BR/><BR/>LMD > Yes, I am more cynical than you ;)<BR/><BR/><BR/>Anonymous #4 > GST is equitable, yes, but is that the best way to help the poor, as this GST hike is supposed to? I think not. Plus I think there are more important things than a "streamlined bureaucracy" that we should work towards!<BR/><BR/>nardac > Thank you :)Tymhttps://www.blogger.com/profile/15168089811114758802noreply@blogger.comtag:blogger.com,1999:blog-5658132.post-1163537879886738842006-11-14T15:57:00.000-05:002006-11-14T15:57:00.000-05:00I think your correlation between the GST and the i...I think your correlation between the GST and the income tax freeze is the most convincing argument against the government's claim that the hike is for the benefit of the poor. Totally disingenuous!<BR/><BR/>However, I did notice, even in Canada when we were suddenly beset with that lovely 8% GST and 7% provincial tax, that a lot of that money was supposed to offset the deficit that from gov't borrowing and the impending increased burden of pensions on federal funds. <BR/><BR/>It's an economic fact that a significant amount of growth in the sixties and seventies, in most western countries, was based on the exploitation of credit.<BR/><BR/>As for the very rich, I think there's luxury tax on certain items in Canada... or maybe I'm hallucinating. Often times gov'ts are terrified of taxing the very rich because the very rich often flee to tax-free havens. Hello Monaco!<BR/><BR/>Either than that... thank you for writing this kind of piece. I wish you had a regular editorial column in a famous and well-respected journal... somewhere.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5658132.post-1163522115596987212006-11-14T11:35:00.000-05:002006-11-14T11:35:00.000-05:00Spam! Ah, the messages that get filteredby my gmai...Spam! <BR/><BR/>Ah, the messages that get filteredby my gmail.Terzhttps://www.blogger.com/profile/04120640575626672401noreply@blogger.comtag:blogger.com,1999:blog-5658132.post-1163514152893875012006-11-14T09:22:00.000-05:002006-11-14T09:22:00.000-05:00Join us at "Building Our Singapore-The Public Serv...Join us at "Building Our Singapore-The Public Service in Action", an exciting and interactive<BR/>exhibition jointly brought to you by the Ministry of Finance (MOF) and Public Service Division (PSD),<BR/>to celebrate the constant dedication of the Public Service to serve the people of Singapore and its spirit of innovation<BR/><BR/>Date: Wed-Sun, 15 to 19 Nov 2006<BR/>Venue:Toa Payoh HDB Hub Mall<BR/>Time:10:30 am to 9:30 pm daily. <BR/><BR/>Come see how the Public Service aims to e-delight you through electronic services and strive to serve our citizens and residents better with a heart of service!<BR/>http://www.mof.gov.sg/buildingoursingapore/index.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5658132.post-1163510800192675872006-11-14T08:26:00.000-05:002006-11-14T08:26:00.000-05:00GST is actually a much more equitable tax than an ...GST is actually a much more equitable tax than an income tax. <BR/><BR/>most of the rich in singapore have accumulated wealth - they're not drawing a salary. so most of their earnings comes from interest, capital gains etc., and capital gains tax in singapore is 0%.<BR/><BR/>in principle without GST the very rich could avoid paying taxes altogether(!).<BR/><BR/>tax rates in singapore are remarkably low - top rate 20%, only bettered by hk's 16%. for comparison, china's top rate is 45%.<BR/><BR/>despite all there is to bitch about, be thankful that we have a somewhat streamlined bureaucracy!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5658132.post-1163497435940121972006-11-14T04:43:00.000-05:002006-11-14T04:43:00.000-05:00Does anyone not think about the round-tripping tha...Does anyone not think about the round-tripping that goes on with PM Lee's "logic".<BR/><BR/>Why incur administrative costs and bureaucracy to give offset packages if the Gahmen does not impose the increase in GST in the first place?<BR/><BR/>I am not sure what other offset packages will PM Lee offer to make it less tough for the poor and elderly? Another progress package type of handout?<BR/><BR/>Hello KittyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5658132.post-1163489525161320992006-11-14T02:32:00.000-05:002006-11-14T02:32:00.000-05:00Progress package or pre election bribe, whatever y...Progress package or pre election bribe, whatever you call it, is a <B>one time</B> payment. GST hikes are <B>recurring</B> costs.<BR/><BR/>Unless the payout is a recurring sum, it will eventually be wiped out over time as the increased cost endlessly accumulate.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5658132.post-1163483264345289362006-11-14T00:47:00.000-05:002006-11-14T00:47:00.000-05:00Hmmm, credit for not sounding as pissed off as I t...Hmmm, credit for not sounding as pissed off as I think you are.<BR/><BR/>But, until we hear what sort of incentive packages the govt has in store for the needy, I don't think it's fair to bash them (yet) for their latest effort.<BR/><BR/>Assuming that the incentive package really does return MORE to the needy than what it takes away from them via GST, I actually see the logic in this increase.<BR/><BR/>I guess we shall just have to wait and see whether they can deliver.Little Miss Drinkalothttps://www.blogger.com/profile/15161014305021810660noreply@blogger.comtag:blogger.com,1999:blog-5658132.post-1163474848821958292006-11-13T22:27:00.000-05:002006-11-13T22:27:00.000-05:00i just wrote about this in my LJ, but you put in w...i just wrote about this in my LJ, but you put in way much better than me<BR/><BR/>lumosAnonymousnoreply@blogger.com