18-06-2023, 09:55 AM
(18-06-2023, 09:48 AM)sgbuffett Wrote: To boost your GDP what is the fastest way to do it. Attract the wealth ans high income earners - you get quick results. To attract them you keep income and wealth taxes like capital gains tax low so they would shift here.
As they come land in prime areas have go be allocated to private condos rather than BTO to maximise gains. Ordinary citizens have to be pushed to the outskirts as propeprty prices rise. Younger Singaporeans waiting for homes have poorer options as affordability goes down.
To support the low taxes ro attract the. GST has to be raised. GST is a regressive tax and ordinary citizens have to shoulder this to subsidise the low taxes for the rich. Next year we are staring at 9% GST. It means ordinary citizens and even those retired have to should this burden.
Even as ordinary citizens are squeezed ro pay higher taxes the cost of livjng goes up as the high influx of people means there is competition for scarce resources. Look at how high the COE is going. Singaporeans endure double digits inflation for medical care.
The Singapore population will be crossing 6M soon.
This is achieve by brute force kmport of people as Singapore's birth rate has fallen to lowest in the world and lowest in our history.
Singaporeans diluted away like expendables as leadership bets on foreign talent for economic growth.
Still we have to carry the weight and shoulder the burden of their actions while they are richly rewarded ...some staying in mansions on land sizes bigger than the Jewel.
Foreigners come and no expense is spared go dazzle them with sights of MBS, Jewel etc. But the reality for ordinary Singaporeans is
Next year 9% GST a new team of PAP leaders with the same philosophy. ...a philosophy that will lead to the decline of core Singaporeans. We.have to struggle against this or our future will be gone.
PAP was successful in attracting FDI in spite of the threat from lower labour and rent cost countries like China and Vietnam.
As business come, or expand, manpower of all levels will of course be needed.
As our TFR is low, we have no choice but to bring in FTs and FWs.
What is it that you don't understand?