Wednesday, November 15, 2006
GST increasing from 5% to 7%.
and like what singaporeans always do. they complain.
but then again, dont we have the right to? i mean, this GST increase is totally mind-boggling and i dont understand it one bit. i'm baffled.
Lets say the rationale behind this increase is that because the rich spend more, they get taxed more.
So say Person A has a monthly income of $2000 spends on basic food and clothing, a 2 percent GST increase will amount to approximately an additional of 40 dollars in GST tax.
Person B has a monthly income of $50,000. assuming he spends on luxurious items and all, a 2 percent GST increase will amount to approximately an additional of 1000 dollars in GST tax.
Person A will have 1.8K to pay for his ultility bills, handphone bills, transport, and that will most probably take away at least a quarter or even half of that 1.8K. Which leaves him with almost nth.
Person B, after the GST increase will still have a whopping 35+K to pay his bills and maybe get involved in some extra-maritial affairs(HA). and that is assuming he spends on luxurious items.
even after the rebates, Person B although losing more money, will ultimately still have alot of money to spend. ALSO, with the corresponding reduction in coporate and income tax, guess who benefits more? the targeted lower income group or the people from the higher income group. go figure.. =s
notice those who are 'complaining' are mostly people from the average income grp. that says alot about the problem already doesnt it.
But then again, this reflects on how Singaporeans are overly dependent on the Govt to provide for them. President Nathan said that we should not make the mistake of becoming a welfare state(or something like that). If this goes on, singapore might just turn into one.
so, lets see the exact full implementation of this GST increase and then come to a conclusion.
hell yeah... I sound so professional. WAHAHA balls.
10:49 AM
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