Harmonized property taxes for a harmonious and peaceful society.

wallacetan(10May2012) wrote:

Source thread: Property in Singapore taxed less than food and water...why?
Lemonade Stand Economics - Penalizing Productivity


Day 1
Girl: "Is this a ROBBERY?"
Tax-man: "No, it's a little something we like to call Taxation. It's where we take income from those who make quite a bit, and give it to those who haven't make nearly as much.."
Day 2
Girl: "TWO? Yesterday you only needed ONE!"
Tax-man: "But yesterday you didn't make as much money, and if you learn anything, the more you make the more we take."
Let us all punish the 'rich' untill they leave us with NOTHING.

The a/m video is also inappropriate and unnecessary to this discussion in so far as it pertains to income taxes rather than consumption taxes (the category under-which property taxes subsume)- please stop deviating from the topic

I have already mentioned that it is unfair and unnecessary for the rich to pay lesser property taxes on luxuries such as helicopter pads, private car parks and boating berths/docks/ jetties, swimming pools, saunas, tennis courts, mini-golf courses, private lawns etc etc just simply for the fact that these are surrounded by a fence within which their residences subsume. As such a flat rate of property tax is necessary, and according to the rate of GST, a streamlined recommendation would be 7% (unless it is further raised).

On 8June2012, PM Lee HL said: "Surely within the next 20 years, the government of the day will need new sources of revenue, which means raising taxes" [see pict below/ link]

Unless U are able to suggest to PM Lee some ways of reducing govt expenditure, I would rather like to see a harmonization of property taxes with GST rates rather than a singular raising of GST rates (which affects the poor more severely) whilst the rich bathe in luxury at 'discount' property tax rates of between 0 - 6% p.a. (PS: the middle class poor who don't own their own properties pay imputed property tax rates of 10% as that is the current property tax payable on 'non-owner occupied' residential properties).

If any discounts upon property tax be given, then it should be based upon the leasehold status of the property so as to impute 'progressiveness' into the taxation system (all HDB, BTO and EC are leasehold FYI).

If taxes are to be raised, then it should be across the board, unilaterally penalizing the poor due to their lack of political clout is unfair and inequitable and divisive to society. The poor shouldn't be regarded as just minions of the rich, the poor too are human, deserving of love and dignity.

[pict source: Singapore's growth expected to slow in next decade - Channel NewsAsia ]
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09July2012: Property in Singapore taxed less than food and water...why?