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11/16/2006

the magic of GST

I think either we are entering a phase of creative thinking or creative accounting on a national level. And I must say that the ordinary people need to be very creative and ingenius to break down all the old ideas and concepts and to embrace all the new thinkings. We need a new curriculum on National Education to educate the people on what is good for them. The GST increase is good for the poor and the lower middle income. Today Teo Chee Hean said that it is also good for the middle income and higher income groups because they can expect higher pay rise. This I definitely believe. Just a 5% or 10% pay rise will not only absorb all the 2% GST but will also be enough to go for a few more holidays. Now isn't this GST a magical formula? It is good for the low income, lower middle income, middle income and higher income. Actually it is good for everyone. Now why are the people so angry, so frighten and so delirious over such a good thing? And one thing for sure, we need not worry about competiting with other countries on labour cost. We are going to raise our labour cost, and wages are going up. Now the 4 million smiles are going to come true. Good times are here.

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