Why Did Singapore Increased GST To 9% | Why Not Tax The Rich? скачать в хорошем качестве

Why Did Singapore Increased GST To 9% | Why Not Tax The Rich?

The first 1,000 people to use this link will get a 1 month free trial of Skillshare: https://skl.sh/kelvinlearnsinvesting0... When Singapore announced that they will be increasing the GST to 9%, many people were unhappy about it, and suggested taxing the rich instead. In this video, I find out why the government is not taxing the rich more. INVESTING ► Interactive Brokers https://kvli.link/ibkr ► Webull (free stock) https://kvli.link/webull ► moomoo Futu SG (free stock) https://kvli.link/moomoo ► Tiger Brokers (free stock) https://kvli.link/tiger ► uSMART (free stock) https://kvli.link/usmart ► POEMS Cash Plus https://kvli.link/poems ► Saxo https://kvli.link/saxo ► moomoo US (free stocks) https://kvli.link/moomoous ► Syfe https://kvli.link/syfe ► Seeking Alpha (offer price) https://kvli.link/seekingalpha ROBOADVISORS ► Endowus (free $20) https://kvli.link/endowus ► Syfe https://kvli.link/syfe ► MoneyOwl (free $20) https://kvli.link/moneyowl ► StashAway (50% off fees) https://kvli.link/stashaway ► AutoWealth (free $20) CODE "Tan Kel Vin" https://kvli.link/autowealth CRYPTO ►‌ Gemini (free $10) https://kvli.link/gemini ► KuCoin https://kvli.link/kucoin ► Crypto.com app (free $25) CODE "kelvinlearnsinvest" https://kvli.link/cryptoapp ► Crypto.com exchange CODE "kelvinlearnsinvest" https://kvli.link/cryptoexchange ► Coinhako (20% discount) https://kvli.link/coinhako ►‌ Luno (free $5) https://kvli.link/luno ►‌ Coinbase (free $10) https://kvli.link/coinbase ►‌ Independent Reserve https://kvli.link/independentreserve ► Ledger https://kvli.link/ledger PAYMENT ► Trust Bank (free $10) CODE "R2MQBA4S" https://kvli.link/trust ► Instarem Amaze CODE "plTefu" https://kvli.link/amaze ► CardUp ($30 off) CODE "KELINVEST" https://kvli.link/cardup ► ipaymy https://kvli.link/ipaymy ► GooglePay (free $3) CODE "eo13e2v" https://kvli.link/googlepay ► Revolut https://kvli.link/revolut ► YouTrip (free $5) https://kvli.link/youtrip ► BigPay (free $5) CODE "QBHVUHL7HU" https://kvli.link/bigpay ► Wise (free transfer) https://kvli.link/wise ► SIA Kris+ (free $5) CODE "T425139" https://kvli.link/krisplus ► DBS Paylah (free $5) CODE "AHVULE614" ► FavePay (free $1) CODE "FAVETANKEL" https://kvli.link/fave LIFESTYLE ‌► EverDesk Table (up to $145 off) CODE "22+KLI" https://kvli.link/everdesk ► ErgoTune Chairs (up to $30 off) CODE "22+KLI" https://kvli.link/ergotune ► Bokksu ($15 off) CODE "KELVINLEARNSINVESTING" https://kvli.link/bokksu ► Qoo10 https://kvli.link/qoo10 ► Shopback (free $5) https://kvli.link/shopback ► Klook (free $5) https://kvli.link/klook ► Planner Bee https://kvli.link/plannerbee ► Envato https://kvli.link/envato SOCIALS ► Instagram https://kvli.link/instagram ► Telegram https://kvli.link/telegram ► Twitter https://kvli.link/twitter 0:00 - Intro 1:11 - GST to 9% The government has been thinking about raising the GST since 2018. With the increase, it will gain additional $3.2B - $3.6B in tax revenues a year, which can then be used to fund the spending increase in healthcare, security and other social needs. 2:10 - The problem with increasing GST When GST is increased, it will especially affect lower income families, as basic necessities become more expensive. To reduce the impact, the government has introduced some measures to offset the effect of the hike for the next 3-5 years. However, this will only delay the impact and doesn’t really solve the problem. The solution is to reduce or remove GST on basic necessities so that it doesn’t affect the lower income families that much, and some countries like Australia are actually doing it. But this will create a ton of problems as everyone needs to keep track of what’s GST taxable and what’s not. 5:03 - Why not tax through income tax? Another way is to increase the income tax for the rich, this is not a good solution either. This is because most of the rich’s income comes from their investments and businesses, and they end up paying a lower tax rate than the normal middle class. Eventually this leads to wealth inequality. Increasing the income tax also discourages people from working, and a higher tax on corporations actually reduces GDP growth of a country. 7:15 - What about having a wealth tax? A better solution is to introduce wealth tax. Wealth tax is a tax on the assets, like real estates, cash, investments, businesses etc. The benefit is that it can reduce wealth inequality while directly taxing the rich. 9:21 - Conclusion None of this is meant to be construed as investment advice, it's for entertainment purposes only. Some of the links and other products that appear on this video are from companies which Kelvin Learns Investing will earn an affiliate commission or referral bonus.