Should we pursue economic growth or equity? These are not conflicting goals. They are complementary. We can achieve sustainable economic growth through equitable distribution of the economic output. Read my views in this article.
These tax cheats not only deprive their country of their tax revenue, they also give ordinary Singaporeans problem by fueling asset bubbles and out-bid & out-spend & over-consume in our domestic economy. Hence, they compete with us for cars, COEs, hawker food, water etc. Train space, hospital beds, university places, housing, jobs etc. resulting in high inflation.
We must bring back a higher estate duty tax, higher tax rates for corporations & higher income taxes and remove the GST as what Malaysia has done. Medical treatment must also be free for the unemployed above 50 years old. I believe the concept of meritocracy is only embraced by the elites but not by the majority of citizens.
This is because only the elitist will support meritocracy for their own benefit, but only around 5% of a population would be endowed by nature with genes of elitism. Personally, I believe meritocracy is a bad concept to embrace as it sows the seeds of a selfish and uncaring society.
Well said Kin Lian. Good article.
ReplyDeleteThese tax cheats not only deprive their country of their tax revenue, they also give ordinary Singaporeans problem by fueling asset bubbles and out-bid & out-spend & over-consume in our domestic economy. Hence, they compete with us for cars, COEs, hawker food, water etc. Train space, hospital beds, university places, housing, jobs etc. resulting in high inflation.
We must bring back a higher estate duty tax, higher tax rates for corporations & higher income taxes and remove the GST as what Malaysia has done. Medical treatment must also be free for the unemployed above 50 years old. I believe the concept of meritocracy is only embraced by the elites but not by the majority of citizens.
This is because only the elitist will support meritocracy for their own benefit, but only around 5% of a population would be endowed by nature with genes of elitism. Personally, I believe meritocracy is a bad concept to embrace as it sows the seeds of a selfish and uncaring society.