(Seeing through the FOG: http://urbanrant.blogspot.com)
Thank you for all the subsidies, Singaporeans are a lucky bunch
I like the logic and reasoning of Mr. Mah. He is clearly a learned and wise man.
I would also like to emulate the thought process of this leader and see whether I can upgrade my thinking prowess a notch in the process. I will never be able to match his brains, but I shall not be accused for want of trying.
I am proposing the following for your consideration.
Tax market subsidy
My 1st theory is that the government is giving a tax market subsidy to most Singaporeans. You see most Singaporeans do not pay income tax anyway. But if you take the average tax rate of the taxpayers in Singapore, you may arrive at the tax rate of say 8% (I am guessing here).
For the majority of the Singaporean citizens and residents whose yearly income is below S$20,000, there is no need to pay tax on the income. These people are in fact enjoying a 8% tax market subsidy from the government. This is a direct savings for this people and is a way in which the government invests in social programs for the population, especially if you are lower income.
Come to think of it, even you are paying the lowest tax rate of 3.5%, you are still getting a 4.5% subsidy. Thank you for the subsidy.
Transportation market subsidy
My 2nd theory is with regards to road tax and petrol prices.
If you are driving a small car of below 1300 cc or riding a motorbike with 250 cc or less in engine capacity, you have been receiving (unknowingly) a lot of transportation market subsidy from the government.
Imagine the people who drive a Mercedes S500 or a BMW 745. They are paying a lot of road tax and petrol for their vehicle usage. Compare that with the minuscule road tax amount you pay for the Toyora Yaris or the Mazda 2 you drive, and you will soon realize that our government has so benevolently given drivers like you a subsidy for using our efficient road networks.
If you do not drive but ride a bike instead, you are even luckier because the star shining down on you has given you a bigger subsidy. Consider the $1 COE that you may have paid compared to the S$15,000 that some other car drivers have paid, and you soon realize that the government has also given you an outright S$14,999 subsidy. Thank you PAP government.
Thank you
The above are 2 merely obvious examples my small brain can think of. The thing is that sometimes you take the kindness of our government for granted and we all sometimes fail to see the benevolence and wisdom of our leaders.
We should thank our lucky stars, because we, Singaporeans and Singaporeans-lite (also known as PRs), should count our blessings for these wonderful subsidies.
*** Source: http://sg.news.yahoo.com/070123/5/singapore254067.html ***
Buyers enjoy subsidy when they buy new flats: Mah Bow Tan
Tuesday January 23, 10:17 AM
New flats are sold below prevailing market rates so buyers enjoy a market subsidy when they buy the flats.
And these market rates are based on the resale prices of other properties in the area, not the land and construction costs.
National Development Minister, Mah Bow Tan, said this in a parliamentary written response to MP for Hong Kah GRC, Zaqy Mohamed.
Mr Zaqy had asked how the HDB sets markets prices at subsidised rates for new flats since both the land and the new flats are priced by HDB.
According to Mr Mah, the market value of a property depends on the resale prices of other similar properties in the area.
And these vary depending on the flat's location, floor area and storey height. - CNA/ch
