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11/13/2007

Another sign of super efficient Singapore

Property prices are up. So property taxes are going up. Another big bonus for the tax dept. So high property prices also is good for the govt, or at least the tax dept. And the standard formula applies. The tax will go up. But there will be rebate for two years. You only pay more later. Get use to the bigger tax figures first so that the numbers will become more familiar.

1 comment:

Matilah_Singapura said...

All these years the people—those who keep the incumbents in power—have fallen for the idea that budget surpluses are good, and an increase in the foreign reserves is good...

What these folks don't seem to realise is that every dollar the govt takes for itself, is one dollar less for savings and investment—in the capital structure of the society.

Having 100 + billion in foreign reserves means this govt-looted money was taken from the productivity of every citizen.

And with such a large chunk of change being managed by govt, means you and get less of the pie.

If the individual citizens owned that amount in foreign reserves, S'pore would be so much wealthier.