7%! 2%! 40%! This is the week of the %s!

[gutch2000]

I'm no economics expert and I never liked what I studied in uni ie Biz Ad with finance. My parents wanted me to become a doctor but I think that was purely based on the fact that I had very bad handwriting... which, incidentally, I still do. Fortunately/unfortunately nowadays they just want me to get married. I had always been in the science

Comments

[anonymous]

french fren said that taxes in france were high, but education, medical heavily subsidised. if sg were to follow that route,
- salaries go up, then not cost-competive in this region
- welfarism / handouts only make people more dependent and strains the rest - see mahathir on his bumi policy, australia and uk on dole system
- sg young / old ratio quite bad no?

if we are going to compran about the rise in GST, is good to ask 2 very fundamental questions :
- why must i pay taxes - easy enuf to answer
- how did gahmen arrive at this percentage for my income bracket - arguably harder to qualify

badnomad

[leejean]

Must buy TV and get married before Feb '07 - else costumes for bride-grooms, limousine rental, hotel suite, blah blah all kena charged 2% more. :-))

[gutch2000]

That's right! That 2% which makes the 5% come up to 7% would be a 40% increase. Guess I better get cracking!

[leejean]

open audition for candidates? ;-))

[gutch2000]

LOL!

[nickevol]

honestly, i m surprised by the timing of the announcement. almost immediately after parliament session starts after the 2006 GENERAL ELECTION.

the last election cost of transportation, etc went up too!

The next election 2009-2010, Singaporeans will forget all about it. Arent we a bunch of sadists?

From a income and expense perspective, I dont understand why with the increased tax receipts does the govt need to increase GST to 7%.

The only reason to increase is the economy is good n no one will complain. and taxes goes up n seldom come down... hmm should shop more overseas..

France is 12% but they spend a fair sum for those monuments, promoting culture, welfare, etc
Netherlands even higher taxes but weekly welfare cheques

[gutch2000]

Yes the returns from tax payments seems very minimal in Spore.