taxing the rich is not the way
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please do not taxs the rich so much >.> rich ppl also human
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Originally posted by youyayu:
please do not taxs the rich so much >.> rich ppl also human
In a social economy context, a person become rich is partly due to the blessing of a good and peaceful society with a conducive enviroment of non violent and acceptance of free enterprise. And to be rich, you need to have poor peoples, in India, one rich man equal to 1 million poor peoples paying him or patronising his business. In Singapore, one rich man equal to about 3000 not so poor and poor peoples helping him to get rich in this society. Therefore, the rich must plough back some of their profit back to help the society, as it belong to the society that had given him the richness. If a govt is going to tax the poor more or equal as the rich, riot and uprising will occurs, rich peoples house and asset will be smashed and destroy just as some third world countries do, as u seen in news, it happens. -
Actually i do encourage that the rich should pay more. The more you earn, the more you are capable of, and should, pay.
7% of Singaporeans are millionaires if i'm not wrong (will get source later) and i think even after the 21% income tax they have to pay annually, they still have more than enough to get by (as well as to enjoy).
i think the rich should just treat this as doing their part for their nation and for charity rather than complaining about how unfair is it to charge them more instead of the poor.
79% of 1 million is still 790k, more than 10 times of SG's GDP per capita.
Be happy, not greedy.
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As per my observation.
Not forgetting that Australia's GST (VAT) is discriminatory, they exempt certain basic necessities like food, medication and textbooks.
Whereas Singapore adopts a non-discriminatory stance, tax everything and anything. So that they can help the poor.
The lame reasoning being, it's difficult to implement a discriminatory GST. Other countries like the UK and Australia have been doing it eons ago, they don't find it difficult, but Singapore finds it difficult. We must lag some administrative efficiency.
Another lame reasoning, the rich also eats rice, by excluding it would mean the rich escape being tax. But the cost to the rich is pittance, whereas the cost to the poor is grave. e.g. Rich making $50,000 per month, a 5kg bag of rice $13.00 and a GST of $0.91. The GST of $0.91 only represents 0.001% of the rich folk's income. Whereas to a person making $1,500, this would represent 0.061% of a poor person's income or 61 times that of a rich man's income.
Another lame reasoning behind implementing GST for basic necessities like food, these basic food products are used by restaurants which rich folks go to. The GST payable by a restaurant is the difference between it's input tax (what he incurred during purchase) and output tax (what he charges to his customers).
Therefore, for a restaurant buying their raw ingredients at $100, incurs a GST of $7 (input tax). The restaurant sells their final food product at $1,000, the GST charged to customer is $70 (output tax). The net amount payable to IRAS would be $63 ($70 - $7). Not forgetting that the initial amount of GST $7 was charged by another supplier to this restaurant, so it is effectively in the pockets of the IRAS. The total GST tax pocketed by IRAS is $70.
If basic food commodities was exempted GST, therefore the raw ingredients purchased by the restaurant would be $100 (no GST, no input tax). The final product that the restaurant charges is $1,000, so the GST charged to customer is $70. Since there was no input tax, then no deductions of input tax was made and the final GST of $70 is paid to IRAS.
Whether IRAS charges GST for basic necessities or otherwise, the net effect to IRAS would still be the same, in both circumstances $70 of GST is collected by IRAS.
By not charging GST for basic foodstuff sold in supermarkets would mean, that the poor would be better off by not having to another 7%, thereby stretching the value of their dollar.
But their premise is, GST is to help the poor, to what effect is left to the thinking abilities of the audience.
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Originally posted by maurizio13:
As per my observation.
Not forgetting that Australia's GST (VAT) is discriminatory, they exempt certain basic necessities like food, medication and textbooks.
Whereas Singapore adopts a non-discriminatory stance, tax everything and anything. So that they can help the poor.
The lame reasoning being, it's difficult to implement a discriminatory GST. Other countries like the UK and Australia have been doing it eons ago, they don't find it difficult, but Singapore finds it difficult. We must lag some administrative efficiency.
Another lame reasoning, the rich also eats rice, by excluding it would mean the rich escape being tax. But the cost to the rich is pittance, whereas the cost to the poor is grave. e.g. Rich making $50,000 per month, a 5kg bag of rice $13.00 and a GST of $0.91. The GST of $0.91 only represents 0.001% of the rich folk's income. Whereas to a person making $1,500, this would represent 0.061% of a poor person's income or 61 times that of a rich man's income.
Another lame reasoning behind implementing GST for basic necessities like food, these basic food products are used by restaurants which rich folks go to. The GST payable by a restaurant is the difference between it's input tax (what he incurred during purchase) and output tax (what he charges to his customers).
Therefore, for a restaurant buying their raw ingredients at $100, incurs a GST of $7 (input tax). The restaurant sells their final food product at $1,000, the GST charged to customer is $70 (output tax). The net amount payable to IRAS would be $63 ($70 - $7). Not forgetting that the initial amount of GST $7 was charged by another supplier to this restaurant, so it is effectively in the pockets of the IRAS. The total GST tax pocketed by IRAS is $70.
If basic food commodities was exempted GST, therefore the raw ingredients purchased by the restaurant would be $100 (no GST, no input tax). The final product that the restaurant charges is $1,000, so the GST charged to customer is $70. Since there was no input tax, then no deductions of input tax was made and the final GST of $70 is paid to IRAS.
Whether IRAS charges GST for basic necessities or otherwise, the net effect to IRAS would still be the same, in both circumstances $70 of GST is collected by IRAS.
By not charging GST for basic foodstuff sold in supermarkets would mean, that the poor would be better off by not having to another 7%, thereby stretching the value of their dollar.
But their premise is, GST is to help the poor, to what effect is left to the thinking abilities of the audience.
Consider rich having cars, need to top up petrol with Gst, ERP gantries, buy big expensive property with Gst, dine and wine at posh restaurants charging service and Gst, shop at top class boutiques with Gst, golf and game at clubs paying Gst.Consider Poor or not so poor class, eat at kopi tiam, no car, shop at local shop or Gst absorbed NTUC fairprice, watch movie, jogging and play some ball game at local free court/parks.
The only time the rich and poor pay Gst together is on the Power and water supply bills, phone bills, conservative bills and some govt taxes. But the govt are giving rebate to HDB dwellers on conservative and properties taxes, power supply rebates, Gst rebates and bursary for low income group childrens.
In another words, Gst do tax the rich, unless the poor or not so rich want to follow the rich style to buy cars, eat at top class restaurant and shop at branded high class shop, then I have nothing to compare with, and sad to say, many of our poors are lure by materialism of the rich, these led to more poorer and less saving.
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Originally posted by angel7030:
Consider rich having cars, need to top up petrol with Gst, ERP gantries, buy big expensive property with Gst, dine and wine at posh restaurants charging service and Gst, shop at top class boutiques with Gst, golf and game at clubs paying Gst.Consider Poor or not so poor class, eat at kopi tiam, no car, shop at local shop or Gst absorbed NTUC fairprice, watch movie, jogging and play some ball game at local free court/parks.
The only time the rich and poor pay Gst together is on the Power and water supply bills, phone bills, conservative bills and some govt taxes. But the govt are giving rebate to HDB dwellers on conservative and properties taxes, power supply rebates, Gst rebates and bursary for low income group childrens.
In another words, Gst do tax the rich, unless the poor or not so rich want to follow the rich style to buy cars, eat at top class restaurant and shop at branded high class shop, then I have nothing to compare with, and sad to say, many of our poors are lure by materialism of the rich, these led to more poorer and less saving.
What I mean was that the financial impact is different, $1 to a millionaire is nothing, $1 to a poor person is a lot.You can also check out the GST exemptions for Australia in basic food, approved childcare, medical supplies and educational supplies in the link below.
http://www.gstaustralia.com.au/gst-exemptions.htm
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Originally posted by maurizio13:
What I mean was that the financial impact is different, $1 to a millionaire is nothing, $1 to a poor person is a lot.You can also check out the GST exemptions for Australia in basic food, approved childcare, medical supplies and educational supplies in the link below.
http://www.gstaustralia.com.au/gst-exemptions.htm
Got it, thanks,
my explanation is just to ask those not rich one to evade themselves from paying Gst, save, work hard, upgrade and become rich, if not middle class, then maybe they can hv better spending power.
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Cannot leh, Save till you got $$ to buy picanto, your girlfriend will go choose the Ang mor and say bye bye to you.