Govt. Collect $2.288 Billion from casinos, where the money go?

[Papsmearer]

Josephine say that since the casinos opened, the govt. collected $2 billion in taxes alone. And another $288 million in casino entry fees. These casino entry fees were supposed to be used to fund specifically programs for gambling social ills. But it turns out, only $12.8 has been send to these programs. rest of the money go where? All registered charities in singapore clamouring for donations and sponorship from the public right now. Can see it all over the place, i guess they are not getting any money from the govt. Can Josephine explain where the rest of the $276.2 million went. Also, I know the tax revenues of $2 billion went to the state coffers, but how has this benefitted the average person? Seems to me like they use the money to buy $2200 bikes, integration and training programs for FTs and new immigrants, etc. WHY THE FUCK IS THE OPPO NOT ASKING THESE QUESTIONS TO PAP?

Casino entry level fees collected by the government in the past 18 months reached S$288 million, Minister of State for Finance Josephine Teo said on Tuesday.

Used to fund social and charitable causes, the levies amounted to $93 million in the first six months of this year and $195 million over the whole of last year.

A daily entry levy of $100 and annual entry levy of $2,000 is imposed on Singaporeans and permanent residents seeking to enter the casinos.

Speaking at Parliament in response to a question over casino levies and taxes, Teo said the amount channelled by the government specifically to tackle gambling social ills has increased from $3.8 million in 2009 to $9 million last year.

Teo also indicated that profitable casino-resorts in Singapore have provided a bonanza in tax revenues to the Singapore government in the past two years.

The minister disclosed that tax revenues from the integrated resorts experienced a net increase of $900 million in 2010 and $1.1 billion last year.

"Through these (tax revenues) the government is able to provide support and care to many Singaporeans," she said.

Marina Bay Sands, operated by Las Vegas Sands Corp, and Resorts World Sentosa, run by Genting Singapore, opened in 2010 and have been raking in hundreds of millions in revenues per quarter.

With additional reporting by Jeanette Tan

 

[myo539]

Annually almost $1 billion goes to GSTV and U-save, U-bet etc for 2.1 million Singaporeans.
I didn't get a cent neither did I save any. I don't feel like a native Singaporean anymore.
I have no National Day to celebrate. :(
... may be I go North to celebrate on 31st August instead.


Nearly 2.1 million S'poreans to receive GST Voucher in August (to celebrate National Day?)http://www.channelnewsasia.com/stories/singaporelocalnews/view/1210833/1/.html

 

[Papsmearer]

Annually almost $1 billion goes to GSTV and U-save, U-bet etc for 2.1 million Singaporeans.
I didn't get a cent neither did I save any. I don't feel like a native Singaporean anymore.
I have no National Day to celebrate. :(
... may be I go North to celebrate on 31st August instead.


Nearly 2.1 million S'poreans to receive GST Voucher in August (to celebrate National Day?)http://www.channelnewsasia.com/stories/singaporelocalnews/view/1210833/1/.html

Are u sure, I calculate only $680 million, where got one billion $? Like I said, where did the money go?

 

[Prometheus888]

Are u sure, I calculate only $680 million, where got one billion $? Like I said, where did the money go?

According to what i read today in the news...probably straight to India....and i got a funny feeling we are never gonna see that money ever again.

 

[Kinana]

Went into subsidising bus purchases so that the bus companies won't need to increase fares on passengers.

 

[Prometheus888]

Went into subsidising bus purchases so that the bus companies won't need to increase fares on passengers.

more like.....Went into subsidising bus purchases for public listed bus companies so that they won't need to increase fares on passengers BUT continue to pay out fat dividends to their private shareholders.

which sets me thinking...isnt that as good as giving away public monies to useless "business" people to continue running publicly listed companies badly??

what a pointless bailout with no quid pro quo for the citizens of Singapore..... just privatise and take it back... stop pretending to dress a facist state up as a democracy

 

[Kinana]

more like.....Went into subsidising bus purchases for public listed bus companies so that they won't need to increase fares on passengers BUT continue to pay out fat dividends to their private shareholders.

which sets me thinking...isnt that as good as giving away public monies to useless "business" people to continue running publicly listed companies badly??

what a pointless bailout with no quid pro quo for the citizens of Singapore..... just privatise and take it back... stop pretending to dress a facist state up as a democracy

bus company lost money, the shares are no good cos they don't give good dividends sir. don't you know? Didn't you follow parliament?

 

[Prometheus888]

bus company lost money, the shares are no good cos they don't give good dividends sir. don't you know? Didn't you follow parliament?

Question is not good dividends .... its this...Why are they even giving out ANY dividends if business was indeed so bad?

maybe the better way forward would be a to call a spade a spade and just run these monopolies as state companies....you cant just always have your cake and eat it

 

[halsey02]

From the thigh bone it went to the hip bone, that is MOF, as an investor, placed their 'long term bets' with a LONG TERM Investment house, need to draw the picture? that's where the money went. The GST vouchers is a smoke screen, I did not get a cent!.

 

[makapaaa]

 

[Cerebral]

Went into subsidising bus purchases so that the bus companies won't need to increase fares on passengers.

Which is one of the biggest lies ever spun by the govt. S$1B to buy buses... Are they buying buses with Diamond encrusted rims?

 

[Kinana]

Which is one of the biggest lies ever spun by the govt. S$1B to buy buses... Are they buying buses with Diamond encrusted rims?

How much do you think a bus cost?

 

[AhGuan]

How much do you think a bus cost?

with or without COE ?

 

[Satyr]

What makes you think it's your money ?

 

[Cruxx]

How exactly does the money of the government belong to the people? You jokers aren't naive enough to think you're living in a democratic cuntry governed by custodians, are you? Time to wake up. The Sinkie "government" is only a government in name. It's no dissimilar to any other monopolistic corporation. Tell me, do the profits of Apple belong to iPhone fanboys?

 

[ginfreely]

$288m entrance fees over 18 months means daily average of more than 5000 Singaporean casino patrons. The opposition should ask how many daily patrons are there in total? Maybe more than 50 percent is Singaporean?

 

[Papsmearer]

more like.....Went into subsidising bus purchases for public listed bus companies so that they won't need to increase fares on passengers BUT continue to pay out fat dividends to their private shareholders.

which sets me thinking...isnt that as good as giving away public monies to useless "business" people to continue running publicly listed companies badly??

what a pointless bailout with no quid pro quo for the citizens of Singapore..... just privatise and take it back... stop pretending to dress a facist state up as a democracy

The pointless ballot is becoming more and more meaningful. Its at 40% now, and if the trend continues at the next GE, it could be over 50%. The fault doesn't completely lie with the PAP. It also lies with the 60% idiots who allow them to get away with it. If uneducated and lower income Thais and Filipinos can kick out their dictators, there is no reason why we can't do the same.

 

[Papsmearer]

$288m entrance fees over 18 months means daily average of more than 5000 Singaporean casino patrons. The opposition should ask how many daily patrons are there in total? Maybe more than 50 percent is Singaporean?

I would say that at least 50% of patrons are sinkies. The PAP is essentially facilitating the transfer of wealth from singaporeans to a foreign owned company with no limits.

 

[Papsmearer]

How exactly does the money of the government belong to the people? You jokers aren't naive enough to think you're living in a democratic cuntry governed by custodians, are you? Time to wake up. The Sinkie "government" is only a government in name. It's no dissimilar to any other monopolistic corporation. Tell me, do the profits of Apple belong to iPhone fanboys?

Why don't u get an education before u come mouthing off here? Its assholes like u who are the kind of people that keep voting PAP, because they don't see the pic. Where u think the money of the govt. come from? LKY's bank account? He personally put in $10billion from his own pocket to start the country of singapore? Every single dollar in the Treasury and every single share Temasek owns belong to the people. If the PAP was voted out tomorrow, u think they take every dollar with them? If you do, than u are the naive one.

 

[Kinana]

with or without COE ?

Bus got COE meh?