The truth about corporate taxes in Singapore
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Can have mother wHOre to milk.Originally posted by pearlie27:Mother of all hubs
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Originally posted by Rock^Star:
You've got a world-class dictatorship masked under the smokescreen of a democratic facade, haven't you?
Singapore depends very heavily on Foreign Direct Investment (FDI). Low corporate taxes have been a feature since Singapore started its pursuit of FDI in the 1960s.
[b]Mat Toro argued in the GST thread that low corporate taxes boost entrepreneurship. So how many world class brands have we seen from Singapore over the years as compared to Taiwan?
Taiwan has a 'messy' parliament - but has many world class brands.
Singapore has a 'stable' parliament - but has only a 2 or 3 to boast of.[/b] -
You're talking about a regime that needs numerous cogs to spin the wheel, so why should it come as a surprise that the fascists should formulate policies that essentially favour all and sundry bar the menial cogs tasked with spinning the wheel?Originally posted by Rock^Star:The very attraction of FDI only serves to make Singapore a hunting ground for 'cheap' labour. Therefore, the widening rich-middle class-poor divide.
It stifles entreprenuership because it encourages many Singaporeans to be "employees" rather than be "employers".
The bigger point is Singapore isn't a mere hunting ground for "cheap" labour. It is, in essence, a source of cheap skilled labour - just look around and see if any developed countries actually pay their engineers, doctors, lawyers, accountants or other professionals the sort of derisory offer you see being touted around in this regime. Amazingly, thugs writing their own million-dollar paychecks struggle to comprehend why Singapore's ablest and brightest are leaving in the hordes. -
That's where all the problem starts, isn't it? When you have an artificially demand-induced economy that serves to function and compete with the external free markets, is it any wonder why Singapore's real wage growth is among the lowest in the free, developed world?Originally posted by soul_rage:Our govt forces our wages to be artificially low by their idea of "Low Pay, High bonuses"
Singapore... slave driving economy in disguise?
In fact, it was the very same principles that brought chaos to USSR and PRC in the 80's (although in those cases, it was rather more extreme as they tried to convert a state-managed economy to a free-market one rather too quickly). What odds would you give for this regime to run into the same woes someday? -
Oh, cut me some slack on that one. That one is really hilarious. Even a war-torn country like Iraq will be playing in the Asian Cup final this weekend.Originally posted by soul_rage:forgotten
it was a total embarrassment
So does anyone still subscribe to the notions churned out by the fascist that this regime shouldn't expect too much from its athletes because of its small population? (Bear in mind poorer, smaller and politically unstable countries have achieved much more) -
Aiyah... I don't even know why Singaporeans are even deluding themselves that they can even remotely achieve anything on the sports arena.Originally posted by walesa:Oh, cut me some slack on that one. That one is really hilarious. Even a war-torn country like Iraq will be playing in the Asian Cup final this weekend.
So does anyone still subscribe to the notions churned out by the fascist that this regime shouldn't expect too much from its athletes because of its small population? (Bear in mind poorer, smaller and politically unstable countries have achieved much more)
Might as well quit and save the millions of dollars on something more important like spurring tech start ups. -
What makes you think the money saved will not go into the pockets of corrupt despots instead?Originally posted by Fingolfin_Noldor:Aiyah... I don't even know why Singaporeans are even deluding themselves that they can even remotely achieve anything on the sports arena.
Might as well quit and save the millions of dollars on something more important like spurring tech start ups.
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I am 100% sure the money saved won't go to the corrupt despots, because we have those same despots checking on themselves.Originally posted by walesa:What makes you think the money saved will not go into the pockets of corrupt despots instead?
Hmmm....interesting concept.
Maybe we should let students grade their own exam scripts. -
So true.Originally posted by walesa:What makes you think the money saved will not go into the pockets of corrupt despots instead?
It's like saying that our CPF is in their "safe hands" -
Originally posted by Rock^Star:
Well said, the same was also said by CSJ in his books written that Singapore's Taxation has been designed to create job opportunities more then for any longer term goals that can benefit Singapore.
Singapore depends very heavily on Foreign Direct Investment (FDI). Low corporate taxes have been a feature since Singapore started its pursuit of FDI in the 1960s.
Mat Toro argued in the GST thread that low corporate taxes boost entrepreneurship. So how many world class brands have we seen from Singapore over the years as compared to Taiwan?
Taiwan has a 'messy' parliament - but has many world class brands.
Singapore has a 'stable' parliament - but has only a 2 or 3 to boast of.
Through the years, the original FDI scheme had resolved the unemployment situation by jump starting the process by bringing in MNC that needed cheap labor - which Singapore had and with the workers being educated at least up to middle school levels.
Through the years, taxation was used to PURPOSEFULLY price the Singapore Labor out and push the MNCs to bring in 'Higher Technologies' - with the goal of increasing higher worker wages - to achieve the ''Swiss Standard of Living''.
Unfortunately, the economic direction taken since the 1960s was a purposefully and continued dependency on FDI and not on local enterprise - even till this day.
This is the only option when the Taxation system has - and continue - to absorb the bulk of private monies into the Government Treasury.
Is the Singapore Taxation low by international standards ?
Can the Singapore Tax be low whenever the Singapore Government reduce one tax but replace it with some others - ''give with one hand and taking it back with two'' ?
If we combine all the different forms of direct and indirect taxes that one has to pay for doing business - or living and working - in Singapore, we maybe surprised to find ourselves equal or close to the Swedish Tax Structure - AND without enjoying the full and free SWEDISH Government Funded Social Services.
Low Taxation alone does not necessarily boost entrepreneurship.
It is the Political Environment that does not encumber the Human Spirit that will produce human creativity, original thinking, intellectual daring, and human political and philosophical development.
Looking at the efforts of the budding Art Scene in Singapore - we see the artists, actors, writers and movie makers being limited in their scope of subject matters, media, funding, and licensing.
In such an environment, can we hope to produce a Spielberg, a Chen Kaige, an Ang Lee, a Jackie Chan ? Even Singaporean Robert Chow was ahead of his generation by prospering in the Hong Kong TV environment.
Can Singapore compare to the private enterprises in Hong Kong, Korea and Taiwan - even Indonesia and Malaysia - that manufacture their own products that are household names and grabbed by the Global Consumers ?
So far, we have Sim Wong Hoo - who have been much featured in the limelight for his original product - a digital Sound Blaster.
A product which he had to fine-tune and developed further, to be market first in the USA before it reaches Singapore.
How many others will be like Sim and his Creative Technologies that will produce a World Class Product - besides being manufacturers of OEM products in support of 'Bigger Global Players' ?
Can the Singapore Tax environment create a climate that supports Singaporean's creativity and enterprise, or do we have to change the Politics and the Political Environment ?