This is a food chain problem;
- GST increase may not affect most businesses as non-GST registered
businesses can volunteer to convert to a GST registered business (i
think there are some exceptions here)
GST hike will affect low income group the MOST. In fact, we all
know that on the other side of the scale, the govt will be reducing
personal and corporate tax... so at the end of the day... the
richer income groups may just benefit more from the GST hike more
than anyone else (as long as they monitor spending on high-priced
items).
- as for minimum wage, will probably affect yet again, the smaller
organisations (cos the bigger guys are most probably already paying
a perceievd "Minimum wage"). Implement this, and be ready to see
entrepreneurial activity nose-diving. Frankly, this is possibly too
troublesome for the government to draw up.
For the self-employed / small business owners, how many of you
actually paid yourself the market rate / even the "compulsory" CPF
contributions?
Our government operates on a very macro level... And it's always
been "survival of the fittest"... can't make it? Too bad... small
business owners who are still operating should count their lucky
starts, who knows when our men in white will decide that they
should enter every possible market to create a more "dynamic" and
"balanced" market... %$#@
