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Why The Increase In GST Is Totally Unnecessary

A First Class Economist Explains Why The Increase In GST Is Totally Unnecessary And Will Only Cause More Hardship!

The former Chief Economist Of GIC brilliantly destroys Lawrence Wong’s and the PAP’s rhetoric that raising GST is vital for Singapore’s future.

The PAP is a party reduced to empty slogans these days. It is incapable of new thinking.It is like a broken record which repeats the same mantra of 40 years ago. Its slogans are bereft of substance and are like the hollow chestnut.

I love the quote from Keynes which Lam Keong uses. I am a Keynesian through and through and in these difficult economic times, we need to hew even more closely to Keynesian Economics.

The world’s economy is in trouble and Singapore will not be spared. Inflation is the leviathan which will not be slayed anytime soon. More and more people will drown under the oppressive costs of living if Government does not lend a helping hand.

In these rough economic times, it is morally wrong to be increasing taxes such as GST which will impoverish even more people.

Keynes also said- “the difficulty lies,not in the new ideas,but in escaping from the old ones”. The PAP is the dinosaur which refuses to abandon its old discredited ideas.

 

Lim Tean

 

 

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READER COMMENTS BELOW

16 Responses to “Why The Increase In GST Is Totally Unnecessary”

  • COSTLY PIGEON HOLES:

    Living in costly pigeon holes, catching no worms due to the vultures lurking from the outside.

    NewCitz and PRs cite the Cost of Living as their Cause of Leaving this overpopulated Stepping Stone. The rate of attrition surges as time goes by.

    Soon, when everything goes out of hand, the exodus of opportunistic migrants will instantly deflate the fictitious economy of this little rock. Its real economy will be left with unbearable sufferings of the People left behind.

    And “Nobody will be left behind!”
    Sounds familiar?

    Promises And Promises end up more like Pee And Poo…!

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  • NotMyProblem:

    @Mr Lim, it is not old or new idea, PAP totally has no idea. So sticking to old ideas is still the best for them.

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  • James Lee:

    Disgusting and gullible policies dished out by the uncaring PAP Government over the past decades have undoubtedly created a substantial pool of SG senior voters living far below that poverty line.Whatever trusts that remain have all but disipated.The very least the one in power can do is to arrange for the immediate lump sum drawdown of another at least 20 percent by all seniors from their CPF account to meet rising COL.Act before it’s too late!!!

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  • Billy ma:

    The current waves of price increase for everything suits PAP just fine.

    In fact, if there’s a recorder in the cabinet meetings, we’ll probably hear loan applause, high fives, & shouts of self congratulations all around the table.

    The price increases just means PAP GST increase will bring in even more $$$.
    Maybe lhl is planning a salary adjustment for himself & his cronies since it has become more expensive for them too.

    It’s a perfect win win for lhl & PAP.
    We may ask, why lhl is not concern about losing votes due to this forced increase?
    Answer is really simple – PAP had brought in more than enough replacement voters to cover for the expected lose votes.

    So it’s really a win win win for PAP.

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  • GS787316451:

    Please raise tobacco GST to 10%

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  • PAP has the mandate:

    PAP stands for Pay And Pay, so Stinkies who voted PAP in got no one to blame except themselves.

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  • panyusg:

    Harship will increase but the GST hike will add little to the hardship. We can always choose to buy less, buy cheaper good. Food, water, electricity are all within our means to control their consumption.

    Flogging the GST hike is useless.

    Instead focus on why Spore has failed to foresee the need to be secure its food security by opening farms in Malaysia, Thailand and Indonesia to grow our commonly consumed foods?

    We can even have our rice, fish, cattle, pig,poultry and vegetable farms. Instead GIC and Temasek are so attracted to Western hi-tech and financial investments. They do not bring down the cost of food nor secure out food supplies.

    What happens to our pitiful recycle industry? No government support and those places keep catching fire? Why is Temasek and GIC not taking over? We can recycle almost 100% of the waste generated in Spore.

    There are bigger targets to aim at.

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  • mai lah, mai lah:

    Have people forgotten that every time the gov help, it ends up sucking us dry?

    Medisave, medishit, all our CPF money sucked and stuck forever. Gov-linked food courts mean more money sucked.

    Still dare to ask for help?

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  • xoxo:

    Talking about *EQUITABILITY* of G$T increases.
    Giving $600 to NEEDY N DESERVING STAKE-HOLDER-sgs when PER CAPITA GRANT from the $100 Billion SOLIDARITY/RESILIENCE BUDGET was claimed as $23.5K is surely EXTREMELY NOT EQUITABLE when WELL-HEELED PMEs that INCLUDE MANY FTs are granted MUCH MORE
    CLAW BACK FROM THOSE WHO RECEIVE MORE N NOT FROM those who received *crumbs* even if they are the REAL STAKE-HOLDERS ID OUR RESERVES?

    WHATS SO EQUITABLE ABOUT GST INCREASES THAT IMPACT THE NEEDY sgs much more ,effectively speaking,especially when the G gave out much more to those who already have abundance?
    Is EQUITY making the HAVES have MORE?

    There is oredy INFLATION FROM FOOD SUPPLY ISSUES.
    To ADD extraneous FINANCIAL BURDEN via GST on oredy HIGHLY MARKED-UP GOODS N SERVICES (especially housing,food n HEALTHCARE) is CAUSING ADDITIONAL HARDSHIP to sgs especially the old n jobless.

    To use *EQUITY* as THE reason for GST INCREASES is more than HYPOCRISY,it is TOTAL IRRESPONSIBILITY!

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  • knn:

    KNN, the old, retired and jobless also have to pay GST. And now with the increase in GST, they kena pay more as well.

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  • Cancel the PAP:

    Increase of GST is a MUST.

    It’s a NECESSITY.

    Because of the need to FATTEN MILLION DOLLARS SALARIES of a BLOATED autocratic cabinet – politicians house mortgages increase, ECA (beyond schools) tuition fees climbed, gas prices for their super cars shot up et al.

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  • theforgottongeneration:

    Please listen carefully to what LW and the pappies spin-doctors are saying. It is not about Keynesian Economics, or any other fundamentals. It is simply about saving face. They OVER-SPEND for the covid situation and now they desperately must replenish our depleted reserves.

    Purpose-built FW dorm using taxpayers monies also can become a hub of covid infections, leading to near riot by FWs. Very prudent, hor? Sure all the parties involved never kelong monies, meh?

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  • Harder Truths:

    COSTLY PIGEON HOLES: Soon, when everything goes out of hand, the exodus of opportunistic migrants will instantly deflate the fictitious economy of this little rock. Its real economy will be left with unbearable sufferings of the People left behind.

    Unfortunately this will not be the case. for every migrant who goes out there will be another one of lower quality and expectations who will bring the bar down even further. It is comforting to know there are no end of migrants willing to come here to literally work for peanuts and if they can’t, then a local gang will employ them. Locals are don for. They don’t realise they wil lnever get back what they gave away for free.

    Majulah Rotiprata!
    Majulah Milobesar!!

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  • NotMyProblem:

    GST is paid by babies, school children and the retirees. These are the non earners. Babies and children’s GST paid by their parents. Retirees use their CPF if any to pay.

    So, you believe increasing GST is to help the poor!!!!!?????

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  • xoxo:

    In our oredy HIGH COL environment,G$T is potentially much more REGRESSIVE as it will further impoveri$h the have-nots among us and provide impetus to widen the glaring social divide.
    LW is trained in economics n public policy/public finance n shud understand this more than commoners like us.
    Still,he ,together with his erudite colleague$ insist on rai$ing G$T instead of Income Tax or *luxury* tax.

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  • JV:

    Singaporeans are being bullied to accept bad policies down their throats. This is because they are NOT ALLOWED to speak. A lot of problems in Singapore stems from suppression of freedom of speech.

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