Modern Monetary Theory

Discussion in 'Markets & Economies' started by mmm....shiney!, Sep 14, 2019.

  1. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    If the Singaporean gov't (and Japanese) feel it necessary to support the recreational habits of their citizens with cash handouts that have strings attached then the consumption taxes are too high.

    Far better would it be to find out what the Japanese and Singaporeans want but can't afford or source and then support those industries by employing people to fill the job roles where the private sector is not meeting consumer demand.

    Japan is impairing any real meaningful increase in prosperity because it has an infatuation with hiking sales taxes.
     
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  2. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    My suggestion was the MMT solution to the greatest threats facing our ecosystems - that we can actually do something meaningful about about in a relatively short period of time when compared to global warming etc.

    My libertarian solution is to abolish the State entirely and then maybe contract out the task. I'm feeling conciliatory tonight, so I'll be happy with either solution.
     
  3. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    As long as there would be a future demand for workers then yes.
     
  4. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    The argument over here is consumption taxes are targeted at well to do people. We have all sorts of "consumption taxes". Car taxes that can amount to 200% of the sales price of the car, petrol taxes, maid levy that Alor talks about. Property transaction taxes that amount 25% of the cost of the property for foreigners - yes, the PRC still buy so the government is making lots of money out of it.

    Personally, I prefer consumption taxes than income tax as consumption is discretionary. But that's me. Taxing income penalises people that work and is never a good idea. Big businesses don’t want consumption taxes and tariffs because it reduces their profits.
     
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  5. alor

    alor Well-Known Member Silver Stacker

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    7 arrested for alleged theft of Budget 2020 Grocery Vouchers from HDB letterboxes across Singapore
     
  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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  7. 66rounds

    66rounds Well-Known Member Silver Stacker

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    I agree with you re taxation. If it is necessary to tax, which is another argument, then it should be based on consumption rather than income. I wouldn't mind a GST hike if I was able to keep more of my weekly wage. That way I can better control my tax contributions by controlling my consumption.
     
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  8. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Something interesting about these $150 vouchers. They were announced on the 18 Feb.
    https://www.channelnewsasia.com/new...d-expenses-supermarkets-unity-budget-13247296

     
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