25 Jul 2008
I am terribly shocked by PAP's inconsistency in its economic policy; or rather, the consistency in its approach to take care of the rich, powerful elites and capitalists rather than the people at large.Let us examine the strategic economic thinking of the PAP government so far:
1) GST is indisputable a regressive tax and in Singapore's context, PAP government has increased GST from 3% to 5% and 7% while it reduces personal income taxes for those companies and rich tax paying residents. The timing of the increase of GST from 5% to 7% is very bad as it coincides with a rapid increase of oil prices as well as food prices. When critics are questioning about PAP's untimely increment of GST, they defended it just like a matter of fact.
>>>> More
