"Grow revenue without undermining economic growth".... ?
That is like growing plants without any nutrients... is this
possible, or another gimmicky propaganda .... ?
It can be done if the "increase
in revenue" is accomplished without increasing the
"Tax Burden", which will
surely retard if not kill the possibility of economic growth, as
Singaporeans are already hardpressed in the take-home household
earnings while the Treasuries of the various Government Ministries
and Goverment Linked Companies are getting larger.
If the government takes on an enlightened path of reducing tax
further - covering a whole list that include GST, COE, Property
Development Charges, Stamp Duties, Property Taxes, HDB Resale
Capital Gain Tax - perhaps the Singapore Economy may slowly return
to life with renewed energy.
Returning the hard earned monies to Singaporeans by reducing all
forms of direct and indirect taxes will mean more monies available
to Singaporeans to manage their own resources, and perhaps spark a
second tier of economic activities from small venture
capitalists.
With an expanded economy, the Government may perhaps achieve
revenue growth without undermining economic growth.
This was explained in CSJ's book published in 1994 -
"Your Future, My Faith, Our
Freedom".
If only the self-acclaimed Elitists will humble themselves to
listen to opinions from all Singaporeans, perhaps Singapore's
economic performance could have been more stable; and not
floundering along for the last TWENTY YEARS since the last 1987
crisis.
