For those who are not used to satire, my article really meant that the easiest way to become a billionaire is to take money from many people, who becomes poorer!
Reply to John YS We should tax the rich people who make the profit from Singapore, i.e. the lawyers, accountants, bankers, corporate CEOs, etc.
We should forget about attracting rich people to come to Singapore, because it is cheating other countries of their tax revenue. Anyway, we don't get much tax revenue from them, as these people enjoy all types of tax exemptions and concessionary tax rates.
We should be more honest in our dealings with other countries.
but on the other hand, if the rich are being taxed too heavily, they will just take their business (which is a lot of zeroes) and invest elsewhere.
ReplyDeletemany countries are fighting for these rich people to invest in their countries.
i don't think singapore government can and willing to change its fundamental policies in the near future.
For those who are not used to satire, my article really meant that the easiest way to become a billionaire is to take money from many people, who becomes poorer!
ReplyDeleteReply to John YS
ReplyDeleteWe should tax the rich people who make the profit from Singapore, i.e. the lawyers, accountants, bankers, corporate CEOs, etc.
We should forget about attracting rich people to come to Singapore, because it is cheating other countries of their tax revenue. Anyway, we don't get much tax revenue from them, as these people enjoy all types of tax exemptions and concessionary tax rates.
We should be more honest in our dealings with other countries.