Disagreement with PSP
13 Apr 2025
1. Wealth tax
2. Estate duty
3. BTO flat buyers defer paying land costs until they sell the flat.
4. Drop GST to 7%.
5. Quote tariff as scare tactics, overblown.
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@Babe:He say no financial impact to Singapore.
He is talking nonsense.
Bond yield in US soaring, capital flight from US.
It affect our investment in US Treasury bonds, US $249 billion.
@Babe:He not qualify to comment on economic matters.
@Babe:When tariffs are levy worldwide, global demands fall, investment fall, this mean less global consumption, business produce less, Massive job loss come.
@Babe:Singapore heavily dependant on trade will be impacted.
You only look at 10% levy and jump to the conclusion Singapore has little impact - this is rubbish.
@Babe:1930 US Levy 20% tariffs - lead to Deep Depression and trigger WW2.
Trump start with 10% tariff and already trigger capital flight in bond market.
you say little impact.
@Babe:https://www.aseanbriefing.com/news/singapore-confronts-u-s-tariffs-assessing-the-impact-on-finance-manufacturing-and-trade/#:~:text=Singapore%20Confronts%20U.S.%20Tariffs%3A%20Assessing%20the%20Impact
@Babe:Read the impact on Singapore economy and our financial sector.
Don't talk rubbish.
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@Babe:$6 trillion wipe out in US stock market.
Trillions $ wipe out in bond market.
Singapore is a major financial hub.
Is this trivial?
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@Babe:Trump announcing chip and pharmaceutical tariff next week.
Hit our 2 biggest manufacturing sectors. Could trigger job loss.
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@Babe:Government already set up a taskforce comprise:
1. Economic Agencies
2. SBF
3. SNEF
4. NTUC
- map out alternative trade global supply chain.
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ASEAN Briefing (https://www.aseanbriefing.com/news/singapore-confronts-u-s-tariffs-assessing-the-impact-on-finance-manufacturing-and-trade/)
Singapore Confronts U.S. Tariffs: Assessing the Impact on Finance, Manufacturing, and Trade
Singapore faces possible shifts in trade, finance, and manufacturing following the U.S. decision to impose 10% tariffs.
@Babe:Read the impact on Singapore economy and our financial sector.
Don't talk rubbish.
----
@Babe:$6 trillion wipe out in US stock market.
Trillions $ wipe out in bond market.
Singapore is a major financial hub.
Is this trivial?
----
@Babe:Trump announcing chip and pharmaceutical tariff next week.
Hit our 2 biggest manufacturing sectors. Could trigger job loss.
----
@Babe:Government already set up a taskforce comprise:
1. Economic Agencies
2. SBF
3. SNEF
4. NTUC
- map out alternative trade global supply chain.
----
@Babe:1. PSP propose levying wealth tax & Estate duty tax - this will drive out the rich.
End up middle & lower income pay more GST & income tax to compensate.
@Babe:PSP hold Government accountable.
Should we also hold PSP accountable?
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@Babe:*Singapore Citizens*: 2,142,300*Total Employment Level (2024)*: 4,046,200
- *Permanent Residents (PRs)*: 327,400
*Total Employment Level (2024)*: 4,046,200
@Babe:It is in MOM website.
LWM sleeping ah?
@Babe:Tan See Leng implemented COMPASS - that force companies to employ majority Singaporeans with very little foreigners based on COMPASS formula.
@Babe:In 2024, the median monthly household income in Singapore was $11,297. This represents a 3.9% increase from $10,869 in 2023, and a 1.4% increase in real terms after adjusting for inflation.
@Babe:In terms of GDP per capita PPP (Purchasing Power Parity) in 2024, Singapore is ranked 4th globally. Singapore's GDP per capita PPP is $133,740.
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