With this change in Government Policy to allow purchase of vehicles
without initial down payment, each month will see at least 5,000
new cars on the road.
At an average COE of $30,000, the Government will collect a monthly
cash inflow of at least $150,000,000.
Added to this, is the FOUR Percent GST on the price of the vehicles
purchased.
At an average price of $100,000, the monthly GST collected on 5,000
vehicles will be add another cash inflow of $20,000,000.
With a monthly cash in-flow of $170,000,000, in one year, our
Government would have taken $2.04 Billion from the SGP Citizens
on a single item only VEHICLES.
The COE being valid for only ten years, many 10-year old cars that
are in relatively good conditions will have to be scrapped, the
entire capital sum simply evaporates for the SGP Car Owning
Citizens.
Another cash outflow in foreign exchange will be incurred, and
another cycle of cash inflow into Government Treasury will result,
if another new car is purchased after the first car is
scrapped.
That is the brilliance of our SGP Government, making money out of
its own Citizens, and ending up impoverishing the Citizens.
By the time when they reach Old Age, many will be deemed as
economic liability, useless and defenseless. Only to be looked
after by their offspring, religious and charity
organizations.
