How much are you earning per annum?

Originally Posted by Unregistered

Dont try to sound politically correct, this is not bluffing myself, these are facts, only ignorant idiots like you are still thinking it is perfect and fair meritocratic world up there.....

There are reasons why the income gap is growing wider and wider, it is not a just simple case of cheap foreign labor flood the local market and depress the wages at the bottom.

The rich here should be made to pay more taxes, they enjoy the best of both world....make more and more money every year but pay lesser and lesser taxes every year.....what the hell, and we have a governement which rob the poor to pay the rich......cut corporate taxes and income taxes and then raise GST to make everyone pay including the poor......

Even if you are willing to be corrupt and sell your soul to the devil, I bet you don't even know where to start. Don't begrudge the rich. It's fair game.

Originally Posted by Unregistered

The rich here should be made to pay more taxes, they enjoy the best of both world....make more and more money every year but pay lesser and lesser taxes every year.....what the hell, and we have a governement which rob the poor to pay the rich......cut corporate taxes and income taxes and then raise GST to make everyone pay including the poor......

GST is a fair tax because it taxes those who spend. Obviously the rich spend a lot more than the poor on cars, houses etc so it causes them to pay more taxes. It encourages people to work hard and be thrifty. If you work hard and don't spend, you become rich.

The poor should be directly supported by the Govt to offset the impact of higher taxes... and they are.

This stupid concept of tax the poor to pay the rich is an example of the idiotic thinking opposition come up with when they have no ideas.

[Anonymous]

Originally Posted by Unregistered

GST is a fair tax because it taxes those who spend. Obviously the rich spend a lot more than the poor on cars, houses etc so it causes them to pay more taxes. It encourages people to work hard and be thrifty. If you work hard and don't spend, you become rich.

The poor should be directly supported by the Govt to offset the impact of higher taxes... and they are.

This stupid concept of tax the poor to pay the rich is an example of the idiotic thinking opposition come up with when they have no ideas.

I don't particularly dislike the GST as a tax instrument because it serves its purposes. But it is certainly not the finest taxation instrument in its ability to differentiate treatment between the rich and the poor. That the rich would spend more hence pay more GST argument doesn't quite cut it. Yes, it is true that the rich pays more in absolute terms. But the impact on the poor is greater, and this is what naysayers are harping about. Doesn't take a genius to understand this but let me give an illustration here anyway for the avoidance of doubt.

Assuming there are 2 families. A has household income of $1000. B, $10,000. GST at 7% means A pays $70 in GST. B pays $700. One must realise that the $70 that A pays has a greater impact on family A, vis-a-vis $700 in the case of family B. For a poor household, $70 difference could mean whether the electrical bills are paid. However in the case of B, it could be just a difference of what car to drive, whether to go on a vacation.

Simply put, if both A and B shared the same utility function, A is definitely on the lower end of the curve and the delta brought about by a 7% GST is definitely much greater than that for B.

The other way of looking at it is that it is no different from imposing a uniform income tax structure on the rich and poor. This effect is exacerbated because B is likely to have the ability to save a larger proportion of their household income as compared to A. Hence, while A pays 7% of their household income on GST, B probably pays less than 7%.

Does this encourage A to save more and become rich? No, A has no choice but to spend all the money in order to survive. B on the other hand is able to accumulate wealth as it can afford to save.

I suppose this is also why some people are proposing GST exemption for basic necessities like rice, etc. I haven't thought about whether this is a better approach but I can certainly understand the motivation.

[Anonymous]

Originally Posted by Unregistered

Dont try to sound politically correct, this is not bluffing myself, these are facts, only ignorant idiots like you are still thinking it is perfect and fair meritocratic world up there.....

There are reasons why the income gap is growing wider and wider, it is not a just simple case of cheap foreign labor flood the local market and depress the wages at the bottom.

The rich here should be made to pay more taxes, they enjoy the best of both world....make more and more money every year but pay lesser and lesser taxes every year.....what the hell, and we have a governement which rob the poor to pay the rich......cut corporate taxes and income taxes and then raise GST to make everyone pay including the poor......

Please don't attribute your inability to progress in your career to external factors. Yes, the system could be unfair. So what? Sulking isn't going to change the system. The best people learn to beat the system and make it work in their favour. They don't sit around moping about how the world mistreated them.

Originally Posted by Anonymous

Please don't attribute your inability to progress in your career to external factors. Yes, the system could be unfair. So what? Sulking isn't going to change the system. The best people learn to beat the system and make it work in their favour. They don't sit around moping about how the world mistreated them.

Yes, do something like voting out PAP and give WP a chance to prove their worth. Some people say PAP works best when they are the opposition.

Originally Posted by Unregistered

Yes, do something like voting out PAP and give WP a chance to prove their worth. Some people say PAP works best when they are the opposition.

Yea my career is going nowhere because of PAP, I will transform into a high flying EVP banker once WP takes over. Real convincing...

Originally Posted by Unregistered

Yea my career is going nowhere because of PAP, I will transform into a high flying EVP banker once WP takes over. Real convincing...

no harm trying. you may even become ceo.

[Anonymous]

Originally Posted by Unregistered

Yes, do something like voting out PAP and give WP a chance to prove their worth. Some people say PAP works best when they are the opposition.

Regardless of whether PAP or WP is the govt of the day,career wise you will most likely remain where you are.

Originally Posted by Anonymous

Regardless of whether PAP or WP is the govt of the day,career wise you will most likely remain where you are.

Even if he remains where he is, it will still be very satisfying to see his peers who have become EVPs or CEOs lose their jobs due to a change in government.

It's just like the housing market. Many are hoping that it crashes, not that they want or are able to buy anything, but just for the satisfaction of seeing others fail.

Originally Posted by Unregistered

Even if he remains where he is, it will still be very satisfying to see his peers who have become EVPs or CEOs lose their jobs due to a change in government.

It's just like the housing market. Many are hoping that it crashes, not that they want or are able to buy anything, but just for the satisfaction of seeing others fail.

I doubt at his caliber he will really know any peers that are EVP or CEO except in the very broad sense that they are the same age or come from same school in the distant past.