The Singapore Budget 2015 has come and gone, and as usual the gahmen announced some good news and some bad news.
One particular item really struck me though – income tax for the richest 5% in Singapore will be increased, in order to pay for the subsidies that the gahmen is giving out to middle-class and poorer people.
Well, obviously it doesn’t strike me personally (because if I’m that rich I’d not waste my time blogging, duh!). But I’m still surprised – the tax can increase by as much as $25,000 for these people!
Combined, this will apparently contribute $400 million dollars towards supporting the middle-class and poorer folks.
That is one ballsy move from the gahmen, I must say. Taxing the rich significantly, to help the poor.
Mr Tharman should now be known as Mr Tharman ‘Hood’ Shanmugaratnam.
Such brave moves from the gahmen would be great news for most people… Unless you’re damn rich of course!