This is never a flavourable policy that the ruling party have
put in, in layman term, it is LPPL, or worst,
give you $1, take back $10 kind of situation.
Tho govt thought that by taxating the rich more to help the
poor, they would hv gain the trust and vote of many. The so called
Robin Hood Govt.
But the irony is, when you tax the able and rich more, they, as
businessmen or bosses will increase their product cost to be sold
to normal to poor man in Singapore, and that incur high inflation
to the poor people.
In economy term, it is called the domino effect. Once price of
oil rises, everything will rise eventually