GST to be raised to 7%
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I pity the poor.
Rob the poor to help the poor... the guffment really can't find a better excuse?
Please dun make the poor a scapegoat...
They are already poor in materials and now PAP is making them poorer in their souls too
i really hope these ministers would stop driving their mercs and audi and try to take the public transport. no...not those new buses services and stuff...the old smelly ones...then i see whether do they believe that 80% of singaporeans think that SG world class transport is good or not. i think the "survey" is like this,
How do u find our WORLD CLASS transport ?
(1) Excellent
(2) Very good
(3) Good
(4) No comments
hahaha! dun even have comments for lousy...no wonder 80% said good.. -
Originally posted by pinkish purple papayas:
Farcical....Just think back..not long ago. How much did the fantastic govt splash to organise a brilliant IMF Wb meeting.
[b]I pity the poor.
Rob the poor to help the poor... the guffment really can't find a better excuse?
Please dun make the poor a scapegoat...
They are already poor in materials and now PAP is making them poorer in their souls too
i really hope these ministers would stop driving their mercs and audi and try to take the public transport. no...not those new buses services and stuff...the old smelly ones...then i see whether do they believe that 80% of singaporeans think that SG world class transport is good or not. i think the "survey" is like this,
How do u find our WORLD CLASS transport ?
(1) Excellent
(2) Very good
(3) Good
(4) No comments
hahaha! dun even have comments for lousy...no wonder 80% said good..[/b]
So much so for creating an image. Its really the "image" of helping the poor this time. I wonder if the $$ goes in to plug the holes.
The chinese saying..Da zhong nian pi chong pang zi.
World class? Way to go -
I am sad whenever I read this kinda topic showing up.
So many people only know how to complain, which they shouldn't do in the first place, because each individual should take own actions, and now finally something is done to try to improve the grievances, yet some people still complain.
Please, 7% is still nothing. If you look at other countries many have higher rates.
I dont know whats the problem, since it is meant to help poor people and help keep society compact.
Does it really affect you at any practical level?
2% rise....big deal, I dont think anyone will feel any effect at all. But for a government to collect many of little 2 percents, then it become quite big and can be used at the national level for the social programs.
What is the deal? -
i pity your mentality. 2%? It is an increase in 40% GST tax payable. To the lower income group, they will have to set aside 40% more of the GST payable from their income to foot the billOriginally posted by #$%^&*:I am sad whenever I read this kinda topic showing up.
So many people only know how to complain, which they shouldn't do in the first place, because each individual should take own actions, and now finally something is done to try to improve the grievances, yet some people still complain.
Please, 7% is still nothing. If you look at other countries many have higher rates.
I dont know whats the problem, since it is meant to help poor people and help keep society compact.
Does it really affect you at any practical level?
2% rise....big deal, I dont think anyone will feel any effect at all. But for a government to collect many of little 2 percents, then it become quite big and can be used at the national level for the social programs.
What is the deal?
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Its kinda obvious, either you do not earn a living or know nuts about economy or societal changes.Originally posted by #$%^&*:I am sad whenever I read this kinda topic showing up.
So many people only know how to complain, which they shouldn't do in the first place, because each individual should take own actions, and now finally something is done to try to improve the grievances, yet some people still complain.
Please, 7% is still nothing. If you look at other countries many have higher rates.
I dont know whats the problem, since it is meant to help poor people and help keep society compact.
Does it really affect you at any practical level?
2% rise....big deal, I dont think anyone will feel any effect at all. But for a government to collect many of little 2 percents, then it become quite big and can be used at the national level for the social programs.
What is the deal?
Actually 2% increase is more than 2%, lets look at this 3 tier effect on the price of a product.
Lets quote an example, a product cost $100
1. cost of product
cost of manufacturing(2%) + utilities(up) + rental(up) + GST(2%) + transport(up) = more than 2% of $100
2. Lets look at the supply network
raw materials(+2%) + manufacturer (+2%) + distributor (+2%) + retailer (+2%) = CONSUMER = more than 2% of $100
3. Rounding up of figures
plus there is no more 1cent, so every level of the supply chain than to round up the figures, e.g, $15.56 = $15.60 or $16.
CONCLUSION: ITS NOT JUST 2% IF U FACTOR IN ALL THE COST AND CHAINS!!!! -
Not quite complete.Originally posted by pinkish purple papayas:Its kinda obvious, either you do not earn a living or know nuts about economy or societal changes.
Actually 2% increase is more than 2%, lets look at this 3 tier effect on the price of a product.
Lets quote an example, a product cost $100
1. cost of product
cost of manufacturing(2%) + utilities(up) + rental(up) + GST(2%) + transport(up) = more than 2% of $100
2. Lets look at the supply network
raw materials(+2%) + manufacturer (+2%) + distributor (+2%) + retailer (+2%) = CONSUMER = more than 2% of $100
3. Rounding up of figures
plus there is no more 1cent, so every level of the supply chain than to round up the figures, e.g, $15.56 = $15.60 or $16.
CONCLUSION: ITS NOT JUST 2% IF U FACTOR IN ALL THE COST AND CHAINS!!!!
A chicken rice hawker makes a $X out of every plate of chicken rice he sells. Now that the cost of the chicken rice has increae by a%, we would assume that he would counter this by increasing the selling price by the same amount (assuming he doesn't round it up). By doing so, the hawker will continue to have $X to spend.
However, since the cost of other things (clothes, food etc) that he will be buying will be increased too, his propensity to spend is now less. With the same profit ($X), he has less to buy with.
To maintain the same lifestyle and expenditure, he will have to factor in the increase into his selling price also. Thus, the adjustment will be much higher than just a +a% increase.
Ever wonder why a bowl of noodles went from $2.50 to $3.50 when the GST increase from 3% to 5%? It was just a mere 2% increase in GST.
It an snow ball effect. -
Dear All
Many a time, the Government will piss us off. Sometimes more than normal.
This instance of the impending GST Hike is one of those.
My reasons are given in my letter to ST Forum Page sent on 15th November 2006.
Whether or not they will publish the letter, this I do not know, but what I do know is if this letter goes out into the forums, the pressure on them to publish will be greater.
Furthermore and for the early benefit of Forumites, the letter is reproduced below:
Warm regards
Ti Lik
QUESTIONS UPON THE GST HIKE
Two phenomena of the Goods and Services Tax:-
1. the GST is like a knife cuts across all social strata and classes; and
2. where the blade of GST cuts, the wounds inflicted are unequally deep.
People on the middle and lower rungs inevitably suffer more as they do not have enough to begin with and the GST increase further inflates the cost of living for their basic needs.
All Governments are duty bound to make life better for their people. All the more one which proclaims itself to be a 1st World Government.
Singaporeans voted for a 1st World Government and for a better life. Will this GST hike better the peopleÂ’s lives?
Is this to be expected of a 1st World Government? A GovernmentÂ’s inability to undertake initiatives without levying further burden on its people speaks volumes about its abilities.
The Government attempts to justify the GST hike by dressing itself as a righteous knight juggling a number of problems. However in doing so, it missed out on the following introspective questions:-
1. Has it not occurred to the Government that Singaporeans fail to replace themselves because the Government has made life too stressful for its citizens to consider adding helpless dependents into their lives?
2. What is the logic of increasing GST on one hand and setting up schemes to attempt to alleviate the pain on the other? If it is so difficult fund the expenditure, would Singapore be better off not increasing the expenditure?
3. Has it not occurred to the Government that there are places within the establishment that can afford to have their expenditure and wastage reduced?
4. What happened to the PMÂ’s call to Stay Together and Move Ahead?
5. Is the GST hike our PMÂ’s idea of leaving no one behind?
6. Has the Government considered levying tax on luxuries instead to meet the expenditure?
In short, our Government has a flawed character: A recalcitrant unwillingness to spend the peopleÂ’s money on the people and an assiduous need to balance the account books at the expense of the people whenever any expenditure is required.
If the recent suicides (via MRT or otherwise) have caught the attention from our Members of Parliament, then none of them should stand by and allow this latest GST hike.
All public office bearers, the people who have benefited and are still benefiting from this country have a sacrosanct duty to their entrusted ward, the people at all times.
A Government has duties to fulfill, questions to answer and a people to take care of in its entire term of office and not only just prior to the next General Election.
It is depressing to every Singaporean to have to remind the PAP Government of its duties and its own promises so soon after the recent General Elections is but what needs to be done has to be done.
Let this be a gentle reminder to the Ruling Party: That no amount of figures and arguments can rationalize the illogicality of a GovernmentÂ’s actions and the inherent contradiction with its own promises. Let not the administration of Singapore degrade itself to mediocrity.
Chia Ti Lik -
Seems nobody in this thread belong to the 66.6%...
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Paging for oxford mushroom, paging for oxford mushroom.Originally posted by orwell76:Seems nobody in this thread belong to the 66.6%...
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go pm him lorOriginally posted by ditzy:Paging for oxford mushroom, paging for oxford mushroom. -
Sembawang GRC voters are merely choosing the lesser of two evil.....Originally posted by orwell76:Seems nobody in this thread belong to the 66.6%... -
call Charlize. better hits.Originally posted by ditzy:Paging for oxford mushroom, paging for oxford mushroom. -
I WOULD like to commend Prime Minister Lee Hsien Loong for sticking to the Singaporean economic model.
I read with interest his views regarding Scandinavian welfare states. I am from one of them: Finland.
While it is true that there is more 'welfare' in Scandinavia, it comes at a price. Public spending in my country stands at 25 per cent of GDP, twice that of Singapore.
The government in Finland spends vast amounts of money on free health care and education, nearly twice the 8 per cent of GDP spent in Singapore. Having been to Changi hospital I can say that health care here is no worse than in my country and the charges are very reasonable. My point is it doesn't have to be free.
It's a question of choice and pricing. The public sector typically does not run the most efficient services, because the services are non-competitive.
Singapore runs a tighter ship, because it's only partially subsidised. Compulsory savings schemes for health care and pensions are a far better way. So is taxing consumption over income.
Many people in my country give up half or more of their gross incomes to finance the almighty welfare state. This serves to promote equality of sorts and creates a vast middle class. It also stifles entrepreneurism and leads to voluntary unemployment. The cost of living is higher too, with GST at 22 per cent.
I disagreed with the crushing taxes in my country. It is for this reason that I came to Singapore, and was happy to give up the benefits I had paid for over the years.
Long live the Singaporean model.
Mika Sampovaara
Straits times 16 Nov) -
If you add everything up, you will see how it affects us at any practical level.Originally posted by #$%^&*:Does it really affect you at any practical level?
2% rise....big deal, I dont think anyone will feel any effect at all. But for a government to collect many of little 2 percents, then it become quite big and can be used at the national level for the social programs.
What is the deal? -
http://www.channelnewsasia.com/stories/singaporelocalnews/view/241627/1/.html
Increased spending ahead of GST hike expected
By Mira Kashinath, TODAY | Posted: 16 November 2006 0734 hrs
SINGAPORE: That urge to buy a car right now may just have become stronger.
Within days of Prime Minister Lee Hsien Loong saying that the Goods and Services Tax (GST) is likely to be raised by 2 percentage points - the official announcement is expected in February - economists predict an interesting side-effect.
Those who have been contemplating buying a car may bring their plans forward.
"Consumers will likely start spending on big-ticket items, such as cars, high-end electronics appliances and other luxury goods, before the GST hike kicks in next year," said Mr Leslie Khoo, regional economist with Forecast Pte Ltd.
This urgency to beat the hike could strengthen a trend that has already started to pick up.
According to the Automobile Association of Singapore, there were 10,971 successful bids for car ownership in August and 10,701 in September. The total rose to 12,428 in October.
Falling oil prices have got more people looking at buying cars again. The GST hike around the corner could speed up their decision.
But the increase in Certificate of Entitlement prices could stand in the way, said industry watcher and Today's motoring correspondent Colin Yong.
"COE prices have gone up by a significant amount in recent weeks," he said. For smaller cars, the rise is by as much as $2,500, which is an unnaturally high level. He felt that buyers would wait for COE levels to drop before committing themselves to a purchase.
Meanwhile, the retail sector as a whole is waiting for an injection of growth.
Seasonally-adjusted retail sales in September grew by just 0.9 per cent from August to $2.30 billion - far less than the 3.3 per cent rise predicted by a Dow Jones Newswires poll.
The World Bank and International Monetary Fund meetings in September were expected to give a big boost to the retail sector, but that did not materialise.
In fact, some popular shopping malls suffered a fall in foot traffic due to tight security around the meeting venues. Tourist arrivals also fell.
The one clear winner was the restaurant industry, which saw sales go up by 12.4 per cent compared to the same period last year. - TODAY /dt
imagine.. after they spent so much.. the govt say we decided not to increase GST -
Basically, we are 2 different countries, with 2 completely different ways of working. How on earth can he compare a welfare state with a state that believes nothing is free?Originally posted by oxford mushroom:I WOULD like to commend Prime Minister Lee Hsien Loong for sticking to the Singaporean economic model.
I read with interest his views regarding Scandinavian welfare states. I am from one of them: Finland.
While it is true that there is more 'welfare' in Scandinavia, it comes at a price. Public spending in my country stands at 25 per cent of GDP, twice that of Singapore.
The government in Finland spends vast amounts of money on free health care and education, nearly twice the 8 per cent of GDP spent in Singapore. Having been to Changi hospital I can say that health care here is no worse than in my country and the charges are very reasonable. My point is it doesn't have to be free.
It's a question of choice and pricing. The public sector typically does not run the most efficient services, because the services are non-competitive.
Singapore runs a tighter ship, because it's only partially subsidised. Compulsory savings schemes for health care and pensions are a far better way. So is taxing consumption over income.
Many people in my country give up half or more of their gross incomes to finance the almighty welfare state. This serves to promote equality of sorts and creates a vast middle class. It also stifles entrepreneurism and leads to voluntary unemployment. The cost of living is higher too, with GST at 22 per cent.
I disagreed with the crushing taxes in my country. It is for this reason that I came to Singapore, and was happy to give up the benefits I had paid for over the years.
Long live the Singaporean model.
Mika Sampovaara
Straits times 16 Nov) -
What if singaporeans don't spend as much after the raise? How will singaporeans not spending enough affect the economy?
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Let's see him retire here. There's always two sides of the coin.Originally posted by oxford mushroom:I WOULD like to commend Prime Minister Lee Hsien Loong for sticking to the Singaporean economic model.
I read with interest his views regarding Scandinavian welfare states. I am from one of them: Finland.
While it is true that there is more 'welfare' in Scandinavia, it comes at a price. Public spending in my country stands at 25 per cent of GDP, twice that of Singapore.
The government in Finland spends vast amounts of money on free health care and education, nearly twice the 8 per cent of GDP spent in Singapore. Having been to Changi hospital I can say that health care here is no worse than in my country and the charges are very reasonable. My point is it doesn't have to be free.
It's a question of choice and pricing. The public sector typically does not run the most efficient services, because the services are non-competitive.
Singapore runs a tighter ship, because it's only partially subsidised. Compulsory savings schemes for health care and pensions are a far better way. So is taxing consumption over income.
Many people in my country give up half or more of their gross incomes to finance the almighty welfare state. This serves to promote equality of sorts and creates a vast middle class. It also stifles entrepreneurism and leads to voluntary unemployment. The cost of living is higher too, with GST at 22 per cent.
I disagreed with the crushing taxes in my country. It is for this reason that I came to Singapore, and was happy to give up the benefits I had paid for over the years.
Long live the Singaporean model.
Mika Sampovaara
Straits times 16 Nov) -
imagine.. after they spent so much.. the govt say we decided not to increase GST
I believe collecting GST is much more than those cars that we buy. -
but charlize not pap supporter mahOriginally posted by LazerLordz:call Charlize. better hits. -
no lar just imagine the govt last min decided not to charge GST..Originally posted by ndmmxiaomayi:I believe collecting GST is much more than those cars that we buy.
those who spent a lot cos they wanna save on GST.... they will be like wtf?
but we all noe thats not possible -
Precisely. This GST raise is grounded in the assumption that consumption will remain constant or increase.Originally posted by ditzy:What if singaporeans don't spend as much after the raise? How will singaporeans not spending enough affect the economy?
Let's all tighten our belts and let this have an adverse effect, then and only then, policy might change. -
If it happens, all the vulgarities will be seen.Originally posted by shinta:no lar just imagine the govt last min decided not to charge GST..
those who spent a lot cos they wanna save on GST.... they will be like wtf?
but we all noe thats not possible -
den he will just up the GST againOriginally posted by ditzy:What if singaporeans don't spend as much after the raise? How will singaporeans not spending enough affect the economy?
actually.. i was thinkin if he lower the GST maybe ppl will wanna spend more?
cos its like.. wah everything become cheaper now!
gg by the kiasu mentality.. they might think faster buy now wait they increase the thing again