The Government should not further tax its people

2229

The Government has served notice that it is increasing personal taxes to ameliorate its coffers and that those earning higher wages should pay more.

Inspite of the slowing economy, the Government has chosen this time of the year to announce the impending increase in personal taxes.  While Singaporeans are a practical people and may grudgingly agree to this sentiment, the government should be mindful of the tax quantum to be imposed on high wage earners.  

High wage earners should not be made to pay exorbitant taxes as those found in European nations where taxes range from 30 to 40 to 50% of one’s personal income and yet food cost and the cost of taking public transport remain high.

As a rule of thumb, the government should work out its needs for the next 2 to 3 fiscal years to address this immediate shortfall to pay for big ticket expenditure such as building new infrastructures like the High Speed Rail terminal at Jurong, the deep sewerage tunnel, the new Lakeside Central Business District or even a new T5 airport terminal.

This additional stream of tax revenue should be channeled to a sinking fund account to pay for these development projects.  It makes sense for Government to set new budgetary rules by mirroring the Building Maintenance and Strata Management Act by opening a sinking fund account for these extraneous expenses. The sinking fund should collect enough only for these superstructures.

It should not work out a tax system to cover for all and sundry for the next 15 to 20 years.  To future tax it’s citizens is to place an extra burden on its people and this may lead to a brain drain or depress the procreation needs of its people due to the onerous burden of feeding and clothing their young.

The Government should also use a higher portion of the income from our sovereign wealth funds, our government-linked company contributions, gaming, entertainment and cess taxes to augment these infrastructure costs.  

The last thing which the Government wants is to make its senior citizens feel that it is being tight wad.  Income derived from our sovereign wealth funds should be disbursed more generously to see them into their golden years.  After all, they are the ones who have contributed much to the funds enlargement through their years of work and toil.

Reader’s contribution by Gilbert Tan

Get the latest news, opinions and commentaries. Available on Android  

73 comments

  1. Ryan Ong says:

    Why not just tax 100%, and say it’s to ensure everyone is well housed and provided for? We won’t even have any need for money then! 😀

    Just pull the damn bricks when we’re whipped.

    1. Facebook Profile photo
      Cer ML ( User Karma: 0 ) says:

      Maybe the govt should borrow from these loan sharks for their development ambitions. Or they should impose high taxes on these loan sharks

  2. Facebook Profile photo
    Cer ML ( User Karma: 0 ) says:

    With all these white termites million dollars wages where got reserve left. Already suck her citizens blood, very soon hang her citizens to dry.

  3. Shanon Tam says:

    How much of the reserve in actual dollars and cents are left still a mystery
    We should norminate representatives from both opp and pap to do an audit on the nation reserves and disclose the actual amount and full transaction history on the withdrawal

    When our gov can claimed upon first withdrawal on the reserves during last recession but in actual fact it have being drawn for more that 35 times without the ppl of nation knowing .

  4. The government should be come forward and be honest with her citizens in the national reserves at net book value. Nobody outside the establishment knows what is happening with our reserves.

  5. Firstly, even the ministers agreed that the income gap is big. Therefore, tax increase should be target at the people who got richer due to government policy and favour those that are left out of these same policies. As our policies are all about properties, the appropriate tax to increase should be property tax, and not GST. GST affects the lower income more because they spend a relatively large percentage of their income.

    Secondly, I actually like the idea of a government being dependent on income taxes. Governments dependent on income taxes have to make a bigger effort to make sure their tax payers have higher incomes. Thus, we see countries where income taxes are high, people have high income and in countries that income taxes are low, income levels are low.

    1. No, PAP Leeders MUST bite the bullet and INCREASE income tax on people earning more than 500K annually. That means those mother fucking PAP Ministers and Perm Secs are also affected.

    2. We are too far gone in terms of income tax. Increasing income tax now will be terrible because we are already paying a lot of other taxes and for services provided by government and government companies

  6. They want to tax more is to make the poor citizens or the middle class poorer and at the same time they increase the minister’s and Mps pay.

    This is a form of control so that all citzens will die of a slow death or force you to leave Singapore and they can increase the population with import of fortune thrash.

  7. How to cover losses if they don’t? Don’t be daft. Tax more. Singaporeans have survived the Japanese invaders, we have the DNA of survivors, we will keep voting the right way till the day we die. Majulah.

  8. Darren Tay says:

    Like I say before pap I’d only good at use money to solve problem and they admit even say SG got plenty of money… So my answer is go find the money instead raise tax and gst raise those suffer are middle class and sandwich class… The poor no diff as they getting hangouts the rich dun feel the punch.

  9. When started to increase tax mean they run out of cash coming in from their GDP. I guess they had visited the reserves 50 to 100 times. And probably the reason and excuses why not possible call for president election . When there is a sign , the sky is dark , probably rains is coming and expected to take shelters…

  10. Benny Tay says:

    Cause reserve is for future and we will never reach that future to consume the reserves. When times r bad we must make sure we kept the reverse for worst time to come and when times r good, these reserve will be kept to cater for bad time. That’s why we need to tax more to keep the reserves!!!

  11. Why must I keep paying more when I don’t get anything in return? My child must pay for her studies but foreign students gets everything for free? Where are the reserves? Where is the returns from Temasek n GIC? There should have enough returns from all the investments. Failing ask them to quit n let others manage. We had enough!

  12. Whatever “ownself” want to do “ownself” will do. You, the writer here, unfortunately, are not “ownself”. Seriously, we the ourselves and myselves have to now kowtow whether we like it or not, one way or another to the “ownself” for a long long time to come thanks largely to the 70% themselves for giving birth to this “ownself” regime.

Comments are closed.