More reserves, more taxes

The issue of our grotesquely huge reserves came into the spotlight again when Hsien Loong hinted of raising taxes to meet increasing expenditure of the govt. Heng Swee Kiat also chipped in to defend the govt’s decision not to touch the reserves, not a cent, despite appeals for the govt to use some of the reserves, just a bit more from the gains from investing the reserves. No one is asking to kill the goose that laid the golden eggs or a drumstick, just a few more eggs.
 
The discussion has gone to the social media, not a whimper is heard in the main media. Phillip Ang was so disgusted that he posted this on his blog and a copy in the TRE.
 
‘Perhaps Heng might also be hinting to Singaporeans there have been significant investment losses when he said “I will be very cautious about making statements about how big our reserves are…”.
 
So, could Heng enlighten us on what’s left in our reserves?
 
After 3 decades of planning, Heng wants us to believe that the PAP did not save for the anticipated rainy day? And reserves cannot be used because they have to increase perpetually to benefit our children?
 
I don’t think Heng expected his hogwash to be taken seriously.’

I do not know how much reserves we have, and I think not many people know, maybe a handful. This is may be public money but it is top secret! The public need not know. But from the main media and from the comments and nuances of the top politicians and the fun managers, oops, I mean fund managers, our reserves are growing and growing, though may not be in the scale of the past. The point I am making is that our reserves held in the deepest and darkest vaults are growing every year. There is nothing to worry. They are there for the future, for the rainy day. And the govt will keep growing the reserves, and there is no limit to how big this should be. It can be 10 trillion, 100 trillion, never mind, it is good to keep growing the reserves and knowing that it is there when it is needed.
 
I can only think of those govts that put their gold in Fort Knox for safe keeping by the Americans. They are not allowed to inspect their gold and cannot withdraw, but happily kept it there, knowing that the gold is there and safe in the vaults in Fort Knox. There is no need to look at them like looking at our CPF statements to bring smiles on the face. The thought of the huge reserves, like the bountiful of gold ingots in Fort Knox is comforting enough.
 
Phillip Ang should have faith that the reserves are there and growing. They would not be stolen. We have the most honest and honourable men and women taking care of them. The last thing that they would do is to lower their integrity to lie about the reserves. Just trust them. And there are two keys to keep the reserves safe. Never mind if the President did not know much is there. I am just presuming. She may know, unlike Teng Cheong. Have pleasant dreams that we are sleeping on a bed of money, plentiful of money.
 
Just pay your taxes when raised. The govt needs more money for bigger expenditure. The reserves are like the holy grail, untouchable by the untouchables. You need to be gods to touch them.