Wednesday, April 6, 2016

Tax and Kaisuism

I have been busy with work for quite some time, which is evident from my lack of posts. However, looking at the recent budget debate, I find that too much focus has been put on things that do not matter.

First of all. The tax issue. Working mothers say that it's an increase of 20% of tax. Come on. People only use percentage to hide real numbers in areas of tax. If you look at the dollar value, what's that worth? One less vacation to some faraway country? One less LV bag? Use the car to the full 10 years instead of changing to the latest model? If you want to have children, paying tax is not an excuse. If you are having children just because you want to pay tax, then you should be very worried because you are having children for all the wrong reasons. Oh yes. Did I forget to mention we have one of the lowest tax rates in the world?

Next is Kiasuisim. I agree that this is causing issues with creativity and innovation because everyone is afraid. It's not something that we should encourage or even be proud of. This I feel is also directly linked to the brain drain we are having. Why are the best and brightest moving to the US? I have been to the US before and I can say that at least in the areas of technology, you get far better response to new ideas instead of a typical track record and risk analysis that will eventually kill it off. 

My take. The extra income from the cap will be beneficial for the transformation of the economy. Money doesn't drop down from the sky and we need to discourage the not in my backyard syndrome. 

1 comment:

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