View Full Version : Do you agree that we should be heavily taxed for our properties?
I am totally in for helping the less fortunate. But redistributing wealth from property owners to the lower income group, though is the most direct approach, but do u think is fair?
Many of us here I think are not born with silver spoon. Many of us I think also grew up in small hdb flats like those 2rm or 3rm hdb. We slogged through our studies, work hard, made some lucky investment instead of spending on mega holidays or shopping splurging or even choose to takr public transport instead of spending on own cars, to arrive to where we are now. And now we could be potential taxed heavily for that?
What is your opinion?
Already taxed heavily in so many aspects. No more please.
I am totally in for helping the less fortunate. But redistributing wealth from property owners to the lower income group, though is the most direct approach, but do u think is fair?
Many of us here I think are not born with silver spoon. Many of us I think also grew up in small hdb flats like those 2rm or 3rm hdb. We slogged through our studies, work hard, made some lucky investment instead of spending on mega holidays or shopping splurging or even choose to takr public transport instead of spending on own cars, to arrive to where we are now. And now we could be potential taxed heavily for that?
What is your opinion?
Already taxed heavily in so many aspects. No more please.
But seems like we are going to get more shock therapy this coming budget. Paze way for GE2016?
The best way I believe is if you earn more, you pax more tax, be it from income or business!
So raise income taxes and corporate taxes!
And there is no reason for MP's income to be tax-exempt since it is income anyway! :rolleyes:
But seems like we are going to get more shock therapy this coming budget. Paze way for GE2016?
The best way I believe is if you earn more, you pax more tax, be it from income or business!
So raise income taxes and corporate taxes!
And there is no reason for MP's income to be tax-exempt since it is income anyway! :rolleyes:Couldn't agree more... big pay cheques can afford to give a little more to the poor around us. Some properties are inherited so these owners may not be rich unless they sell the property. Also, many rich people around the world are already setting the good example of giving to the less fortunate.
May be increasing property taxes will force those people who inherited their property but can't afford higher property taxes to sell CHEAP CHEAP? May be it serve some purpose? But not the right way right? :beats-me-man:
You see, those high income people don't want to pay more taxes despite earning so much every year, and then they expect to spread the taxes to every tom dick and harry, including the old, unemployed, the sick and even babies and children via GST! Because their incomes are from salaries and businesses, die die also cannot increase income tax and corporate tax! :rolleyes:
So they are likely to suggest more ways to milk the general middle-income people? :tsk-tsk:
Couldn't agree more... big pay cheques can afford to give a little more to the poor around us. Some properties are inherited so these owners may not be rich unless they sell the property. Also, many rich people around the world are already setting the good example of giving to the less fortunate.
I think better to get to the root of the problem. Why those lower income remain as it is? Wage is one thing. Too much focus on that also not quite right. How about spending habits (smoking, alcohol and other vices)? Gambling? Family planning?
We get to where we are perhaps we can plan better, control our spending better, and not necc because of spectacular wage. So complicated.
I thought that there is this say,Give a man a fish and he eats for a day. Teach him to fish and he eats for a lifetime.
By high taxing to redistribute wealth, are we giving them fish or teaching them to fish?
You are right. But increasingly, it seems people prefer to throw fish to them than teach them how to fish, and they prefer to milk these "fish" from the general middle-income group which forms the biggest % in SG.
I think better to get to the root of the problem. Why those lower income remain as it is? Wage is one thing. Too much focus on that also not quite right. How about spending habits (smoking, alcohol and other vices)? Gambling? Family planning?
We get to where we are perhaps we can plan better, control our spending better, and not necc because of spectacular wage. So complicated.
I thought that there is this say,Give a man a fish and he eats for a day. Teach him to fish and he eats for a lifetime.
By high taxing to redistribute wealth, are we giving them fish or teaching them to fish?
I think better to get to the root of the problem. Why those lower income remain as it is? Wage is one thing. Too much focus on that also not quite right. How about spending habits (smoking, alcohol and other vices)? Gambling? Family planning?
We get to where we are perhaps we can plan better, control our spending better, and not necc because of spectacular wage. So complicated.
I thought that there is this say,Give a man a fish and he eats for a day. Teach him to fish and he eats for a lifetime.
By high taxing to redistribute wealth, are we giving them fish or teaching them to fish?
Its a fact that the rich are all getting richer while the lower skilled workers are getting to work longer for the same amount of money because Singapore doesnt have min wage.
Whatever the government tax you, it goes to the government piggy bank, it does not get distributed directly to the poor in terms of monthly cash hand out, so it is wrong to say that those from lower income doesnt know how to fish. They know how to fish, its just that the fish they catch has got no value.
In a society where the rich only pay a maximum of 20% tax, I dont see why anyone who are making over 1/4 million a year should be complaining.
The one who will probably complain most will be those living in big houses with very little income. These are the group will be most vulnerable, but to some having face is more important having money, so they only have themselves to blame.
Allthepies
23-01-14, 20:59
I am totally in for helping the less fortunate. But redistributing wealth from property owners to the lower income group, though is the most direct approach, but do u think is fair?
Many of us here I think are not born with silver spoon. Many of us I think also grew up in small hdb flats like those 2rm or 3rm hdb. We slogged through our studies, work hard, made some lucky investment instead of spending on mega holidays or shopping splurging or even choose to takr public transport instead of spending on own cars, to arrive to where we are now. And now we could be potential taxed heavily for that?
What is your opinion?
totally agree with u... we started from very humble HDB and is still living in humble HDB!
I would think thr best way is to tax on spenders, raise GST to higher percentages! Tax the spenders!
I heard recently million dollar ministers are using cars paid by ministries.
Another words company car.
is it true?
totally agree with u... we started from very humble HDB and is still living in humble HDB!
I would think thr best way is to tax on spenders, raise GST to higher percentages! Tax the spenders!
If you raise GST, the one who is going to suffer most are the lower income because when it comes to food price, there is no such thing as increasing by 2 or 3%, its always 0.50 per a bowl of noodle and when it comes to food, you cant say that I dont buy.
As for the rich, they can always buy things online, overseas etc etc. it wont bother them the least bit.
I heard recently million dollar ministers are using cars paid by ministries.
Another words company car.
is it true?
They come with 24 hours security too.
They come with 24 hours security too.
Ministers with car and security is a norm. We cant afford to have security breach that endangered the lives of our ministers as it will have a big implication on investors confidence. Anyway lets not digress and result in endless debate on politics bah.
Tax lah gst lah so far all these are about throwing money to them. But not solving the root issue and it will get worse.
I think should start with proper family planning. If u are not in a fortunate situation, it would be best to have lesser kids so that there will be more resources per kid. I always and still believe that education is the key to break free from the poverty cycle.
Its a fact that the rich are all getting richer while the lower skilled workers are getting to work longer for the same amount of money because Singapore doesnt have min wage.
Whatever the government tax you, it goes to the government piggy bank, it does not get distributed directly to the poor in terms of monthly cash hand out, so it is wrong to say that those from lower income doesnt know how to fish. They know how to fish, its just that the fish they catch has got no value.
In a society where the rich only pay a maximum of 20% tax, I dont see why anyone who are making over 1/4 million a year should be complaining.
The one who will probably complain most will be those living in big houses with very little income. These are the group will be most vulnerable, but to some having face is more important having money, so they only have themselves to blame.
Every single sentence is just so true! LIKE!!!!! (for once, LOL)
Paying 4% owner occupied concession rate is considered heavily taxed?
The purpose of the increase in tax rate for non owner occupied properties I suspect is to penalise those investors who hoard properties hoping that with limited supply, prices will go up. The current 19% tax rate for high end properties will be a major incentive to liquidate such investments.
best is dont change anything!!! no more taxes or increasing existing taxes!
Taxing empty houses ensured that more property resources will be put to good use. This is a good move. It might in theory ensured that we do not overbuilt residential properties. So, in the overall sense, it will helps to reduce unnecessary demand.
Heavy property taxes itself may also have the same effect. One will not overconsume residential resources and right size his needs based on his affordability. At the end of the day, a well-run govt will always need to raise its tax revenue to meet its budget. The fair methods used is to levy taxes on income and consumption. It is however, not easy to decide the weightage. Given that property tax is still much lower than my income tax, I generally feel it is acceptable.
Patrickstar
24-01-14, 12:15
They can raise income tax if they totally do away with cpf contributions.
The best way I believe is if you earn more, you pax more tax, be it from income or business!
So raise income taxes and corporate taxes!
And there is no reason for MP's income to be tax-exempt since it is income anyway! :rolleyes:
GST increase to 10%?
Taxing empty houses ensured that more property resources will be put to good use. This is a good move. It might in theory ensured that we do not overbuilt residential properties. So, in the overall sense, it will helps to reduce unnecessary demand.
Heavy property taxes itself may also have the same effect. One will not overconsume residential resources and right size his needs based on his affordability. At the end of the day, a well-run govt will always need to raise its tax revenue to meet its budget. The fair methods used is to levy taxes on income and consumption. It is however, not easy to decide the weightage. Given that property tax is still much lower than my income tax, I generally feel it is acceptable.
Taxing empty houses ensured that more property resources will be put to good use. This is a good move. It might in theory ensured that we do not overbuilt residential properties. So, in the overall sense, it will helps to reduce unnecessary demand.
Heavy property taxes itself may also have the same effect. One will not overconsume residential resources and right size his needs based on his affordability. At the end of the day, a well-run govt will always need to raise its tax revenue to meet its budget. The fair methods used is to levy taxes on income and consumption. It is however, not easy to decide the weightage. Given that property tax is still much lower than my income tax, I generally feel it is acceptable.of course landlord will want to rent out. If can rent out why leave it empty. If empty and tax that is very painful. Considering it is like double taxation as we still need to pay income tax for the rental.
We buy property for investment because we saved enough, because we planned enough because we dare to take risk. How can say we hoard it?
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