People always forget that the money Heng Swee Keat is giving out is other people’s money

By other people’s money (OPM), we of course refer to money that belongs to the citizens of the country.

It is taxpayers’ money.

On Labour Day, it’s timely to remind ourselves that the money the State has is the result of the fruits of our labour.

It is therefore a misnomer to think of Heng Swee Keat as Santa Claus. Think of him instead as a tax collector.

As Finance Minister, Heng spearheads the collection of all manner of taxes from the people – including income tax, wealth tax, goods and services tax, property tax and road tax.

It is also a fallacy to think of the money that is doled out during this pandemic as a windfall.

Some people say, wah, strike 4D! Luck has nothing to do with it. It is the people’s hard-earned money that went into paying taxes.

If we need any further proof, take it from Margaret Thatcher, Prime Minister of the United Kingdom from 4 May 1979 until 28 November 1990.

In a famous speech, she told the people of the UK:

Let us never forget this fundamental truth: the State has no source of money other than money which people earn themselves.

If the State wishes to spend more it can do so only by borrowing your savings or by taxing you more. It is no good thinking that someone else will pay – that “someone else” is you. There is no such thing as public money; there is only taxpayers’ money.

So there we have it from the Iron Lady!

As plainspoken as can be: the State has no money, whatever money the State spends is taxpayers’ money, if the State wants to spend more, it has to tax more.

The government has already told Singaporeans that taxes have to be increased to fund healthcare and infrastructure spending.

In his budget speech on Feb 28, Deputy Prime Minister Heng Swee Keat said that the GST hike from 7 per cent to 9 per cent will take effect between 2021 and 2025.

It could well happen sooner rather than later for two reasons.

Firstly, the government has had to dole out a lot of money to help people and companies tide over the current crisis.

And secondly, if the government should score a landslide victory in the upcoming general election, it would probably take it that it has the people’s mandate to hike the GST by the earliest date – 2021.

 

Augustine Low

 

 

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21 Responses to “People always forget that the money Heng Swee Keat is giving out is other people’s money”

  • No Hope:

    Even worse. They use your money to gamble. You are not even supposed to know whether dealer win or lose. How stupid can the people gets?

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  • Rae:

    Sinkies are happy to get money they forget it’s taxpayers’ money. The govt will find ways to take back the money. Already many kena fined! GST go up, everything will go up! Short-lived thinking, long-term pain.

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  • REGIME CHANGE is the solution:

    PAP was caught “napping” when the Wuhan virus hit the foreign workers dorms. This was likely due to its mindset – “can fix anything with other peoples money” (Singapore reserves). It was “reactive” (curative) instead of “proactive” (preventive). Another compelling reason for regime change.

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  • Poon:

    Realistically speaking, a good piece! Bravo!!

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  • Talk less, do more:

    Today is stroke man’s turn to spew lots of saliva, lo lee lo so said he did this , he did that.

    What’s the use of talking, talking la!

    The fact remains the number of cases still increases every day like no end is in sight.

    Yawn….. getting bored!

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  • Sg cash machine:

    Vietnam and Indonesia have ATMs that can give out rice to the needy.

    We are very fortunate to have heng heng ATM that dishes out ready cash.

    My $600 tranche is going to be used up soon.

    Now we are into extended CB, can we draw some more from heng heng ATM?

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  • Harder Truths:

    Sometimes a country is destined to fail miserably if power is allowed to be kept in the hands of a few evil leeders.

    The lockdown continuation after 1 June is not about the virus. It s about control of the population to avoid perceived economic hardships leading to social gatherings that will surely result in unrest and anger. By keeping people separate the leeders make sure they cannot interact and are at the mercy of the authorities for even the basic things to survive.

    Many locals will lose livelihood from the initial mismanagemnt of the CoV. Further mismanagement to control people movement will force companies to give up operating in such conditions and move out. Yet Fake Talent will increase as they have no other country to go to. The leeders will be ecstatic to welcome them all – what these Fakes will actually do I have no idea.

    Such will be the environment until the next election. No way for the opposition to create ‘trouble’. And when necessary claim a ‘CoV relapse’ to tighten the lockdown if needed.

    The totalitarian state is almost here and people don’t realise it has already happened almost overnight.

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  • hopelessnuselesspap:

    SACK THE BLOODY PAP GOV !!!

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  • oxygen:

    CPF IS BACKDOOR TAX, any honest economist will tell you that.

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  • Thinkforothers:

    Augustine, bravo, you have the absolutely perfect points that you really
    nailed them on the wall.

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  • NotMyProblem:

    @Augustine; cannot be lah! SG has a almost 100% literate population. You know every one is certified in all kind of trades including people in the cleaning and security industries. It cannot be that people don’t know that the money comes from taxpayers!!!

    Maybe somebody brainwashed these people that the money comes from the PAP. I think that could be the reason why those foreign workers living in dormitories love our PM. They did not know that their problems were raised by NGOs like HOME and TWC2 previously.

    I hope Singaporeans, with all their certificates, are not that naive.

    Coming GE we would know how smart is our voters!

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  • Foo:

    Realistically: excellent points by Augustine. Tax collector Heng takes money from one hand and gives out from the other! So easy to make Sinkies happy!

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  • God observes cronycrats too:

    “Fidelity and allegiance sworn to the King is only such a fidelity and obedience as is due to him by the law of the land; for were that faith and allegiance more than what the law requires, we would swear ourselves slaves and the King to be absolute; whereas, by the law, we are free men, notwithstanding those oaths…. Atheism is so senseless. When I look at the solar system, I see the earth at the right distance from the sun to receive the proper amounts of heat and light. This did not happen by chance.”

    - Sir Isaac Newton, “Principia Mathematica”

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  • opposition dude:

    If the usual scenario for the next election comes true with PAP not losing too many seats then GST will definitely be brought forward as well as at least 4 straight years of transport fare hikes, university fee hikes, S&CC charges. All those greedy reits will be charging sky high rents and we will end up paying more when we makan outisde or buy anything.

    Don’t be surprised if your income tax goes up too. PAP will want back every single cent they have used from the reserves plus at least anther 50% extra.

    You can’t change the dafts’ thinking that the money is PAP’s and not theirs, they have been thinking like that since the 60s and the concept of the money being theirs is completely alien to them so don’t waste your time hor.

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  • no truer words:

    the words by Margaret Thatcher should be recited by those 70% every day when they get up n before they go to bed at nite.

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  • trublu:

    No,Augustine,ITS OUR MONEY!

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  • Ah heng is non starter:

    Foo:
    Realistically: excellent points by Augustine. Tax collector Heng takes money from one hand and gives out from the other! So easy to make Sinkies happy!

    Ah heng is the world’s highest paid cashier.

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  • Realistically:

    @ Foo:
    May 3, 2020 at 6:46 pm (Quote)

    “Realistically: excellent points by Augustine.”

    What is so ‘Realistically’ about Augustine Low’s drivel? In the context of his drivel, how is the use of my moniker ‘Realistically’ relevant?

    For information, I do NOT agree with most of what Augustine posts on TRE of which I have frequently made my position clear.

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  • WakeupSG:

    https://www.channelnewsasia.com/news/singapore/foreign-worker-dormitories-assess-mixed-results-covid-19-12699968#cxrecs_s

    MP Png Eng Huat later questioned that since taxpayers were footing the bill to look after foreign workers, if dormitory operators will be made to pay for their share in this entire project.

    Mrs Teo said that calculating costs right now would make it impossible to get things done, but when the “appropriate time” came they would look at the issue.

    LET THE OPPOSITION PARTIES FOLLOW UP ON THIS!

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  • Goh:

    Pray what is a moniker? You mean monkey? Realistically quite a humorous fella.

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  • MarBowling:

    WakeupSG:
    May 4, 2020 at 7:40 pm (Quote)

    MP Png Eng Huat later questioned that since taxpayers were footing the bill to look after foreign workers, if dormitory operators will be made to pay for their share in this entire project.

    Mrs Teo said that calculating costs right now would make it impossible to get things done, but when the “appropriate time” came they would look at the issue.

    LET THE OPPOSITION PARTIES FOLLOW UP ON THIS!

    Response: the decision to USE our taxpayers’ money SOLELY rests on the shoulders of our World Class Ministers led by the nose by their GREAT LEEder aka Emperor w/o clothes. For the PAPigs to GIVE an ANSWER, The OPPOSITION Parties will have to FOLLOW UNTIL the Holee Cow comes home to ROOST! JUST BY FOLLOWING IS OF NO USE! Only by DENYING the PAPigs a 2/3 majority, will the PAPigs, especially Joker Teo take the “appropriate time” to LOOK into the issue at a tight and small corner in ParLeeMent!

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