Equitable distribution of Growth Dividends.

• bic_cherry

  27 Aug 06, 02:52

  Equitable distribution of Growth Dividends.
  
  “I will distribute Growth Dividends to all adult citizens."
  http://www.progress.gov.sg/gd_ovw.htm
  “In view of the good economic performance last year and the positive outlook, I have decided to share part of these surpluses with Singaporeans this year…I will distribute Growth Dividends to all adult citizens." - Prime Minister Lee Hsien Loong,- Budget Statement 2006--- ‘The amount of Growth Dividends you can receive depends on the following:
  (i) the Annual Value of your home in 2005 (assessed by IRAS, based on your NRIC address as of 31 December 2005); and… ‘
  
  How about a more equitable manner?
  .
  Facts:
  - The current $ allocation disadvantages Sgporeans staying in larger properties; however this blunt instrument omits many important and easily correctable factors. Factors which if left neglected would only dilute the true meaning of national cohesion.
  
  - Govt knows exactly how many SGporeans stay at in a residence (prepared in lieu of 2006SG elections).
  - Govt knows “the Annual Value of your home in 2005”
  - not all who live in large houses are rich- some may be homeless & depending on the kindness of a rich [distant] relative, similarly, a rich single may live alone in large HDB apt, (leaving a few bedrooms unoccupied).
  - Gov lauds the competence of its massive IT investments.
  - Govt should encourage families to live under same roof to maintain family bonding/ social stability.
  .
  
  .
  It’s thus my firm belief that the govt is capable of greater fairness (equitability) by defining ‘home value’ more accurately as = per-capita home value =
  
  [Annual property value] (DIVIDED BY) [no. of SGporeans residing (kids incl and based on NRIC) in such an address.]
  
  This simple procedure would:
  
  Stop people from reassigning their residential address falsely to yield better progress pkg payouts (makes such illegal acts unnecessary)
  Encourage people staying alone to get partners/ rent out rooms to SGporeans so as to make cost of living less for SGporeans.
  Encourage people to have children as the more SGporeans under same roof- the lesser the ‘per-capita home value’ thus ensuring that SGporeans with good family values are not unfairly penalized.
  Encourage people to stay together for better family bonding, economy of scale.
  
  Dear LHL: please consider this in parliament; this is a long overdue procedure towards building peoples faith in the PAP.
  
  Hopefully I hope the other 1/3 of SGporean (Elect2006skeptics)- would support thisÂ….
  Comments?
  
• PointBlue

  27 Aug 06, 03:42

  Originally posted by bic_cherry:

  It’s thus my firm belief that the govt is capable of greater fairness (equitability) by defining ‘home value’ more accurately as = per-capita home value =
  
  [Annual property value] (DIVIDED BY) [no. of SGporeans residing (kids incl and based on NRIC) in such an address.]
  

  Yes, I agree with you. This would most certainly make handout distributions more equitable.
  
  However, is this truly necessary? You left out the other part of how the government distributes their handouts, which I think is the more important one. "(ii) Your Assessable Income for the Year of Assessment 2005". This is more accurate in identifying those who really requires these transfer payments. How about putting a larger percentage of the distribution priority on received annual income? Or what about, say, family size or income-per-capita? Wouldn't that be more accurate?
• Thailand_Hero

  27 Aug 06, 10:48

  Just give everyone an equal amount of dividends as we all own the same share of Singapore.
  
  Does not matter if you're rich or poor.
• PointBlue

  27 Aug 06, 15:03

  Originally posted by Thailand_Hero:

  Just give everyone an equal amount of dividends as we all own the same share of Singapore.
  
  Does not matter if you're rich or poor.

  I believe the purpose of the budget handouts are to alleviate inequity in the economy. So, it wouldn't make much sense to transfer the handouts equally to everyone, that not only defeats the purpose but also brings the government budget into deficit for no apparent reason.
• olala

  27 Aug 06, 15:07

  Originally posted by Thailand_Hero:

  Just give everyone an equal amount of dividends as we all own the same share of Singapore.
  
  Does not matter if you're rich or poor.

  strongly agreed on this
  
  But can we add that unless they're in the labour force?