I really think that all citizens should get a compulsory education in economics. Sometimes when I read about politicians promising more spending and less taxes, I really do wonder if they've any knowledge of economics.
Even though I do not major in economics, I do know that if I want to spend more, the income must come from where. In my case, either I get a raise or someone gives me money to spend. In terms of government, they get their income primarily from taxes.
Therefore, is "more spending less taxes" mathematically possible??
2 comments:
Yes it is possible. You just don't call it 'tax'. S'poreans are dumb enough to fall for that. Thanks to confucianism.
If you're talking about COE, ERP then yes. There are ways to get more income but the main bulk of the income I believe is still through taxes. Income tax, property tax and GST.
Have never tried to look at the annual report for IRAS. Maybe I should some day.
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