Volvobrick Supersonic March 1, 2021 Share March 1, 2021 2 minutes ago, Kb27 said: UK doesn't have a president. So who thought up this president thingy ? USA have a president, but no prime minister. Only Sg too rich to have both. Australia is a more appropriate example. Several times larger than us (population) and no president. Just once in a while entertain the British royalties. Much cheaper. And as for the second "key", replace with direct referandum if they want to touch the reserves. Convince the whole nation rather than one paid "key" holder. ↡ Advertisement Link to post Share on other sites More sharing options...
inlinesix Supersonic March 1, 2021 Share March 1, 2021 16 minutes ago, Kb27 said: UK doesn't have a president. So who thought up this president thingy ? USA have a president, but no prime minister. Only Sg too rich to have both. UK is a constitutional Monarchy. USA is Federal Constitutional Republic with the President as Head of State. India has a President that perform a similar task as our Halimah. Link to post Share on other sites More sharing options...
inlinesix Supersonic March 1, 2021 Share March 1, 2021 15 minutes ago, Volvobrick said: Australia is a more appropriate example. Several times larger than us (population) and no president. Just once in a while entertain the British royalties. Much cheaper. And as for the second "key", replace with direct referandum if they want to touch the reserves. Convince the whole nation rather than one paid "key" holder. India has President. Link to post Share on other sites More sharing options...
Wind30 Turbocharged March 1, 2021 Share March 1, 2021 18 minutes ago, Volvobrick said: Australia is a more appropriate example. Several times larger than us (population) and no president. Just once in a while entertain the British royalties. Much cheaper. And as for the second "key", replace with direct referandum if they want to touch the reserves. Convince the whole nation rather than one paid "key" holder. you think the general population is smart enough to not kill themselves? I really don't think referendum is a good way to make detailed important decisions. 1 Link to post Share on other sites More sharing options...
Didu Supercharged March 1, 2021 Share March 1, 2021 8 hours ago, Freeder said: She should have stuck to her area of expertise.... Should set up a non political post for her as a form of recognition .. Politics is not her forte.. She shouldn’t have entered into this arena ... These are all good suggestions. But how to reject good money?? So sayang.... 1 Link to post Share on other sites More sharing options...
Didu Supercharged March 1, 2021 Share March 1, 2021 2 hours ago, Kb27 said: UK doesn't have a president. So who thought up this president thingy ? USA have a president, but no prime minister. Only Sg too rich to have both. Lucky SG don't have a King. Otherwise we pengsan... 2 Link to post Share on other sites More sharing options...
Didu Supercharged March 1, 2021 Share March 1, 2021 2 hours ago, Kb27 said: UK doesn't have a president. So who thought up this president thingy ? USA have a president, but no prime minister. Only Sg too rich to have both. How did SG's presidency come about? Lai lai history lesson... History of presidency in Singapore The Office of the President of Singapore was preceded by the Office of Yang di-Pertuan Negara. The latter was created on 3 June 1959 when the constitution confirming Singapore as a self-governing state under British rule was brought into force. Then Governor of Singapore, William Goode, was appointed the first Yang di-Pertuan Negara, a position he held for six months. Yusof became Singapore’s first Malayan-born Yang di-Pertuan Negara on 3 December 1959. As head of state, he was the British Queen’s representative. When Singapore became a constituent state of the Federation of Malaysia on 16 September 1963, Yusof was reappointed Yang di-Pertuan Negara of Singapore by then Malaysia’s head of state, the Yang di-Pertuan Agong, on 4 December 1963 for another four-year term. He was then a representative of Malaysia’s head of state. When Singapore became an independent nation on 9 August 1965, the title of its head of state was changed from Yang di-Pertuan Negara to that of President. Yusof was subsequently sworn in as the first president of the Republic of Singapore, henceforth representing the citizens of Singapore. https://eresources.nlb.gov.sg/infopedia/articles/SIP_808_2004-12-28.html#:~:text=The Office of the President,rule was brought into force. Link to post Share on other sites More sharing options...
Volvobrick Supersonic March 1, 2021 Share March 1, 2021 2 hours ago, Wind30 said: you think the general population is smart enough to not kill themselves? I really don't think referendum is a good way to make detailed important decisions. Maybe you are right - just look at the people they elected to office! Can't trust them to even elect the government right? Link to post Share on other sites More sharing options...
Jellandross Supersonic March 1, 2021 Share March 1, 2021 28 minutes ago, Didu said: Lucky SG don't have a King. Otherwise we pengsan... Yes we don't have Lèse-majesté laws like in Thailand But the consequence of insulting the royalty in SG is sama sama. 1 8 Link to post Share on other sites More sharing options...
Wind30 Turbocharged March 1, 2021 Share March 1, 2021 3 hours ago, Volvobrick said: Maybe you are right - just look at the people they elected to office! Can't trust them to even elect the government right? Even choosing the right person is tough enough. No way the general public can decide on whether to use reserves or not... Even Fatimah is probably better than the average Joe on the street... Link to post Share on other sites More sharing options...
Watwheels Supersonic March 1, 2021 Share March 1, 2021 TT Durai's pay is also $600,000, peanuts lah, like someone pointed out back in the yr 2002-2004. FYI we contribute the CDC fund $1/mth or $12/yr thru our cpf contribution. Link to post Share on other sites More sharing options...
Playtime Twincharged March 1, 2021 Share March 1, 2021 3 hours ago, Didu said: Lucky SG don't have a King. Otherwise we pengsan... Pofma... pofma... Long live the king.... Link to post Share on other sites More sharing options...
Weez911 Supersonic March 1, 2021 Share March 1, 2021 (edited) Been hearing rumours and even MP themselves talking about a wealth tax. This strangely coincides with the new financial OneView where we can all view our assets in 1 place 🤣 Value of property can be easily worked out. Mortgage and other bank loans are also in OneView. Investments can be easily tracked via the CDP and from brokers. The only thing they can't track is cash in the biscuit tins... but maybe a bit late already if they are going for a retrospective application. Jitpai jialat if they press this very expensive nuclear button. Edited March 1, 2021 by Weez911 1 Link to post Share on other sites More sharing options...
Playtime Twincharged March 1, 2021 Share March 1, 2021 6 minutes ago, Weez911 said: Been hearing rumours and even MP themselves talking about a wealth tax. This strangely coincides with the new financial OneView where we can all view our assets in 1 place 🤣 Value of property can be easily worked out. Mortgage and other bank loans are also in OneView. Investments can be easily tracked via the CDP and from brokers. The only thing they can't track is cash in the biscuit tins... but maybe a bit late already if they are going for a retrospective application. Jitpai jialat if they press this very expensive nuclear button. the answer is bitcoin....:P 1 Link to post Share on other sites More sharing options...
Volvobrick Supersonic March 1, 2021 Share March 1, 2021 (edited) 2 hours ago, Weez911 said: Been hearing rumours and even MP themselves talking about a wealth tax. This strangely coincides with the new financial OneView where we can all view our assets in 1 place 🤣 Value of property can be easily worked out. Mortgage and other bank loans are also in OneView. Investments can be easily tracked via the CDP and from brokers. The only thing they can't track is cash in the biscuit tins... but maybe a bit late already if they are going for a retrospective application. Jitpai jialat if they press this very expensive nuclear button. Money flows like water. Why Sg now very big in wealth management? Cos low tax, no capital gains tax, no estate duties, no tax on foreign source income. Money flows here. Once you try to tax these, water flows to HK, Switzerland etc. Except properties. You can't bring that GCB with you out of here. Edited March 1, 2021 by Volvobrick 1 Link to post Share on other sites More sharing options...
mersaylee Supersonic March 1, 2021 Share March 1, 2021 6 hours ago, Didu said: Lucky SG don't have a King. Otherwise we pengsan... We do...blur king, sabo king, geng king aplenty 😁 4 Link to post Share on other sites More sharing options...
Yewheng Twincharged March 1, 2021 Share March 1, 2021 (edited) 11 hours ago, Weez911 said: Been hearing rumours and even MP themselves talking about a wealth tax. This strangely coincides with the new financial OneView where we can all view our assets in 1 place 🤣 Value of property can be easily worked out. Mortgage and other bank loans are also in OneView. Investments can be easily tracked via the CDP and from brokers. The only thing they can't track is cash in the biscuit tins... but maybe a bit late already if they are going for a retrospective application. Jitpai jialat if they press this very expensive nuclear button. The problem with wealth tax is that if the tax gets too high. Many wealthy people will want to avoid coming to Singapore to live, set up business. Beside that, they have a lot of money, so they could calculate and see that if hire accountant and or experts to help look out for the tax code and see where to avoid taxes as much as possible. If the amount of money paid to these people to find ways to pay less tax end up cost less after paying the reminding wealth tax, they will do it. Aren't it will defeat the purpose? People might also will think along the line of why not audit these rich and super rich individual more so that they pay the fair share. The problem is that these rich individuals most likely do all the tax deduction through legal means, like as explained above hiring accountant and or experts to help them to pay as little tax as possible. So end up when audit them, these auditor will find these rich and super rich people to account very clean. But then these auditor need to answer to their boss who hire them is to precisely to want to crawl back as many money that is leaked out as possible. So end up they will audit these people that are quite okay off and or people who actually doing small business or what that their profit margin is quite tight. Then these auditor might end up discover that many of them report lower revenue then what it is supposed to as some of the transaction customer paid by cash. Like that aren't making these not that rich people and or those people doing businesses that are having quite a tough time to be even more tough? Then some might say okay easy, keep update tax code so that it could not be easily interpreted and or exploited by accountant and or experts to be able to pay less tax. Yes but that will be back to square one as when rich and super rich realised that they are being taxed too much and it's makes no sense to setup business here or what and go find other country that have lower taxes how? Okay maybe for some they might feel Singapore is very politically stable and very safe, so no choice just pay more taxes lor. But then there will be a point that they might feel, enough is enough. The extreme tax is too much for me. Like that how? Edited March 1, 2021 by Yewheng 1 Link to post Share on other sites More sharing options...
Weez911 Supersonic March 2, 2021 Share March 2, 2021 14 minutes ago, Yewheng said: The problem with wealth tax is that if the tax gets too high. Many wealthy people will want to avoid coming to Singapore to live, set up business. Beside that, they have a lot of money, so they could calculate and see that if hire accountant and or experts to help look out for the tax code and see where to avoid taxes as much as possible. If the amount of money paid to these people to find ways to pay less tax end up cost less after paying the reminding wealth tax, they will do it. Aren't it will defeat the purpose? No it won't push rich people away if they apply this as a one-off with a retrospective application, which I think is the most likely scenario. Rich people will lan lan just pay up because they know it is a one time thing and the cost of moving is probably higher. ↡ Advertisement 2 Link to post Share on other sites More sharing options...
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