[Tax Infographics Finale 2]: Singaporeans Pay As Much As The Nordic Citizens But Get Back Way Lesser In Social Protection

Leong Sze Hian and I have written a 10-part + 2-finale article on how much the taxes are that Singaporeans are really paying, and the purchasing power that we really have.

We have also created a 10-part + 2-finale infographic alongside this series. These infographics will be released after the corresponding part of each article is released.

You can download these infographics onto your phone or tablet, to refer to later on or send them to your friends via mobile. You can also share these with your friends, family and relatives and let them know, at one glance, what is really going on and how much we are actually paying.

How Much Tax Are Singaporean Really Paying Finale 2

To read more about Finale 2 of the article, you can go to the link here.

You can view the rest of the infographics here.

*****

In the aftermath of the transport fare increase, and in the face of the pending increase of the MediShield premium and Medisave contribution rate, do you have something to say about how the government apportion budget for Singapore?

Do you think the $1,000 wage that the government wants to legislate for cleaners is enough? Do you think more workers should earn a minimum wage and do you think the minimum wage should be higher?

Come join us at the Pre-Budget 2014 Forum, where we would be discussing these issues and sharing with you our recommendations and proposals. This event is jointly supported by MARUAH, Function 8 and Workfair.

You can find out more about the event at the Facebook event page here.

pre budget 2014 conference

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5 comments

  1. chua

    They have think tank there to tax sh*t out of citizens and intend to stay forever. So arrogant to think what can you do? There is private army of mercenaries to take care of affairs as they probably question loyalty of Singaporeans!
    Sad state of affairs – unless they can show otherwise…

  2. Vicky

    Perhaps, Singaporeans also pay the remaining tax for those nordic citizens. Sometimes, the law isn’t fair, but since it is the law, then we must follow it. Unless somebody will stand for it in the congress for revision.

  3. Jonathan

    I think your calculations and rationale are flawed fundamentally. For example, you assume that Singaporeans are underpaid as compared to Nodiac Countries. If this is the basis, then we are overpaid with respect to 90% of other countries. Theory of relativity and common sense should apply as Singapore has done well as compared to many other countries. CPF is not a tax as a large portion can be used for housing and balance for retirement/medical. A lot of developed countries pension scheme has failed precisely over what you are proposing, the country spending more than what they earn from taxes. A deficit budget will never work for a country in the long run.

    • Roy Ngerng

      Hi,

      (1) Singapore is the 6th costliest city to live in, in the world but our wages are the lowest among the high-income countries and our purchasing power is the same as Kuala Lumpur. I think many readers would be able to conclude whose logic is flawed.

      (2) CPF is a RETIREMENT fund, and if you were not already aware, a RETIREMENT fund is supposed to be used for RETIREMENT. Of course, it’s very convenient to bypass the fact that the government decides the interest rates to be paid to CPF, the government decides how land should be priced and much flats should be priced. Of course it’s all convenient to forget all these and acknowledge that the government can fix the prices to undercut the people. All too convenient. I suggest you dare say this to the man on the street – the 7 out of 8 Singaporeans who are not able to meet their CPF Minimum Sum in cash, and we will see whose logic is completely skewed beyond belief.

      Lest I have to face the argument once again, note that the 2.5%, and even the 4% interest rates that Singaporeans earn on out CPF is possibly the lowest in the world. Yet, Temasek Holdings and GIC earns 16% and 6.5%, while the interest earned is not returned to Singaporeans – in other words Singaporeans are paying additional tax on our CPF.

      The CPF has thus far accumulated almost $250 billion in balance, yet Singaporeans only withdrew $11 billion last year. Mind you, if CPF is for Singaporeans to use, why is there a $250 billion balance? Shouldn’t Singaporeans be able to take this out?

      Now, tell me – whose logic is out of this world?

  4. nairbv

    CPF is not a tax. I stopped reading once I see you categorized CPF as tax, since that just starts you off with an absurd premise.

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