LW : need to counter rising wealth inequality
#15

(15-10-2021, 02:28 PM)maxsanic Wrote:  Actually this is a very good observation. The idea of GST in Singapore is actually a form of wealth transfer from Middle and Upper Class to Lower Class. For obvious reasons, the government doesn't want to say it too explicitly as this will piss off the vast majority of middle class PMEs, but if you work out the Math it actually makes sense.

For e.g. In 2021 the lower class will get in total GST rebates of $500 (cash) $250 (Medisave for retirees) $595 (u-save for 1-2br HDB). That works out to $1,345, i.e. 1345 / .07 = $19,214 spending that is in effect free of GST. I would imagine most lower income class people spend lesser than $19k p.a. so they basically don't pay any GST (effectively 0%) whereas the middle and upper class are fronting everything.

The ultra rich here who  spends on homes, cars, jewelry and handbags are the ones who will be paying thru' their noses for these items....and they will be slapped with a large amount to GST..... Laughing
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Messages In This Thread
LW : need to counter rising wealth inequality - by menghuii - 15-10-2021, 12:54 PM
RE: LW : need to counter rising wealth inequality - by RiseofAsia - 15-10-2021, 12:57 PM
RE: LW : need to counter rising wealth inequality - by RiseofAsia - 15-10-2021, 01:00 PM
RE: LW : need to counter rising wealth inequality - by RiseofAsia - 15-10-2021, 01:04 PM
RE: LW : need to counter rising wealth inequality - by surfer - 15-10-2021, 01:14 PM
RE: LW : need to counter rising wealth inequality - by debono - 15-10-2021, 01:22 PM
RE: LW : need to counter rising wealth inequality - by Instinct - 15-10-2021, 01:23 PM
RE: LW : need to counter rising wealth inequality - by debono - 15-10-2021, 01:32 PM
RE: LW : need to counter rising wealth inequality - by Sticw - 15-10-2021, 02:10 PM
RE: LW : need to counter rising wealth inequality - by Sticw - 15-10-2021, 02:14 PM
RE: LW : need to counter rising wealth inequality - by maxsanic - 15-10-2021, 02:28 PM
RE: LW : need to counter rising wealth inequality - by debono - 15-10-2021, 02:35 PM
RE: LW : need to counter rising wealth inequality - by Sticw - 15-10-2021, 02:41 PM
RE: LW : need to counter rising wealth inequality - by RichDad - 15-10-2021, 02:34 PM
RE: LW : need to counter rising wealth inequality - by RiseofAsia - 15-10-2021, 03:28 PM
RE: LW : need to counter rising wealth inequality - by debono - 15-10-2021, 03:44 PM
RE: LW : need to counter rising wealth inequality - by A2Z - 15-10-2021, 01:26 PM
RE: LW : need to counter rising wealth inequality - by Huliwang - 15-10-2021, 01:33 PM
RE: LW : need to counter rising wealth inequality - by singaporean1964 - 15-10-2021, 02:39 PM
RE: LW : need to counter rising wealth inequality - by wendychan - 15-10-2021, 02:49 PM
RE: LW : need to counter rising wealth inequality - by Rainforest - 15-10-2021, 02:50 PM
RE: LW : need to counter rising wealth inequality - by debono - 15-10-2021, 03:11 PM
RE: LW : need to counter rising wealth inequality - by Cestlavie - 15-10-2021, 03:17 PM
RE: LW : need to counter rising wealth inequality - by debono - 15-10-2021, 03:23 PM
RE: LW : need to counter rising wealth inequality - by Blasterlord2 - 15-10-2021, 03:28 PM
RE: LW : need to counter rising wealth inequality - by Ola - 15-10-2021, 03:48 PM
RE: LW : need to counter rising wealth inequality - by debster - 15-10-2021, 04:18 PM
RE: LW : need to counter rising wealth inequality - by debono - 15-10-2021, 04:29 PM
RE: LW : need to counter rising wealth inequality - by Sticw - 15-10-2021, 05:29 PM

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