Monday, November 13, 2006

Econs 101

I remember a time in JC when Miss Leong taught us that the Value-Added Tax, or GST as it is known here, was a regressive tax.

A regressive tax places proportionately more of a burden on those with lower incomes. Regressive taxes, as opposed to progressive taxes, are more burdensome on lower-income individuals than on higher-income individuals and corporations.
http://en.wikipedia.org/wiki/Regressive_tax

And that a Government is of the people, by the people, FOR THE PEOPLE.

Dear Sirs, please do reconsider this act. Stop telling us that the GST here is one of the lowest
in the world. Ditto transport fees.

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