looks like maybe another failed business venture

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hornetguy

Senior Member
Jan 18, 2016
6,945
1,563
113
#41
Is this how it should be done? Rhetorical question.

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Government spending in Singapore has risen since the start of the global financial crisis, from around 15% of GDP in 2008 to 17% in 2012.

The government's total expenditure as a percentage of GDP ranks among the lowest internationally and allows for a competitive tax regime.[134][135]

Singapore is required under its constitution to keep a balanced budget over each term of government.

Singapore government debt is issued for investment purposes, not to fund expenditure.[136][137][138]

Personal income taxes in Singapore range from 0% to 22% for incomes above S$320,000.[139]

There are no capital gains or inheritance taxes in Singapore.[140][141]

Singapore's corporate tax rate is 17% with exemptions and incentives for smaller businesses. Singapore has a single-tier corporate income tax system, which means there is no double-taxation for shareholders.[142]

Singapore introduced Goods and Services Tax (GST) with an initial rate of 3% on 1 April 1994, increasing government's revenue by S$1.6 billion (US$1b, €800m) and establishing government finances.[143]

The GST rate increased to 4% in 2003, 5% in 2004, 7% in 2007, 8% in 2023, and 9% in 2024.[144] [145]
I also wonder if Singapore has a "welfare class"....
I imagine a huge portion of our taxes go for just that...
 

hornetguy

Senior Member
Jan 18, 2016
6,945
1,563
113
#42
Is there anyone who really believes that a nation can operate predominantly on revenues paid by other nations? And who can't figure out that if you charge a tariff on a good, then that tariff is included in the cost of the good and is thus paid for by the consumer? Who can't figure that one out, besides him?
hornetguy,


thats what happened Boris Johnson did when the uk left the European union (brexit) it was terrible. the food prices jumped. the cost went on the consumer. It was hard to get products from other countries when you dont have a trade deal. Imagine you own a store in the uk and suddenly you have to put in papers to get products from other countries with a huge fee and now and you the store owner has to pay it.

I dont think the American public would stand for it[/QUOTE]
I think the idea of tariffs is to get the price of imported goods more in line with American goods, to encourage Americans to buy American sourced products. I don't think it was intended to be on products that ONLY come from offshore.

I think the American public would MUCH rather have tariffs, which might raise prices temporarily, than what Kamala is promising... governmental price controls. If that happens, food on supermarket shelves will all but disappear. That tactic has NEVER worked. All it has ever done is create shortages, and rationing.
 

Mem

Senior Member
Sep 23, 2014
6,949
2,014
113
#43
I apologize, but that line is simply side-splitting hilarious.... devout Catholics, indeed.
I can't imagine why they would stop so short of calling them 'saintly'.