A number of Singapore’s residents support higher taxes on top earners as well as new duties on luxury cars, according to a new poll. —A number of Singapore’s residents support higher taxes on top earners as well as new duties on luxury cars, according to a new poll, backing a government drive to lessen wealth inequalities and build up coffers after the pandemic.
A survey by Blackbox Research showed around two in every five poll respondents “highly favoured” a new budget measure to increase personal income taxes for the top 1% of taxpayers in Singapore and new levies for luxury cars. The poll surveyed 764 people for the two days following Finance Minister Lawrence Wong’s maiden budget presentation in parliament on Feb. 18.
“If we start to have the attitude that most of the tax burden or everything can be borne by the top 1% or the top 5%, I think they will feel it grossly unfair,” Wong said at the event hosted by broadcaster ChannelNewsAsia on Tuesday. A phased hike in consumption and carbon taxes were the least popular budget measures with just 12% and 19% respectively having a very favorable view of them, according to the survey. These findings indicate the challenge the government faces in implementing broader tax increases that officials have said are
to be honest....the increment was negligible to the rich like us. we just have to hire one less Maid.