MOM sewing the seeds of revolution, if not drastic political change
Yes big MNC will 'need' low skill workers but they are able to farm out this 'need' to many smaller time contractors... the smaller contractors earn peanuts and their employees even less. The government loves the MNC (e.g. banking, finance, property companies, casino operators and other vice) because on paper, they make GDP numbers look nice.
I once calculated that the SG government earns S$5.26Billion p.a. from foreign worker levies 'Singapore government plans $5.26B tax bonanza from new foreign worker levy rates'.
Just like a drug addict loves his drug fix, the Singapore government loves revenue. Indeed, the global MNCs can provide jobs- Singaporeans will have jobs. But where these regressive taxation policies are operational, Singaporeans will always be at the short end of the stick.
SMCs are taxed most because they cannot complain, work permit and less so- S-pass holders cannot complain as loudly as employment pass (EP)holders so both SMC and work permit holders have to pay.
Whilst all this is going on, employment pass holders are living it up at Marina Bay Sands. Yes it might be a world of sharks amongst themselves. But the truth remains, at the rarefied level of EP holders, they pay proportionately less taxes than do the rest.
But as I mentioned, the consequence of all this micro management is that the Singapore worker becomes a professional phantom employee (useless to welfare of the world), the government coffers get suddenly enriched, foreigners make Singapore a brothel- sewing the seeds of revolution, if not drastic political change.
Rgds
C6.
Hi View Post Jarlaxle,Jarlaxle said:
Yes big MNC will 'need' low skill workers but they are able to farm out this 'need' to many smaller time contractors... the smaller contractors earn peanuts and their employees even less. The government loves the MNC (e.g. banking, finance, property companies, casino operators and other vice) because on paper, they make GDP numbers look nice.
I once calculated that the SG government earns S$5.26Billion p.a. from foreign worker levies 'Singapore government plans $5.26B tax bonanza from new foreign worker levy rates'.
Just like a drug addict loves his drug fix, the Singapore government loves revenue. Indeed, the global MNCs can provide jobs- Singaporeans will have jobs. But where these regressive taxation policies are operational, Singaporeans will always be at the short end of the stick.
SMCs are taxed most because they cannot complain, work permit and less so- S-pass holders cannot complain as loudly as employment pass (EP)holders so both SMC and work permit holders have to pay.
Whilst all this is going on, employment pass holders are living it up at Marina Bay Sands. Yes it might be a world of sharks amongst themselves. But the truth remains, at the rarefied level of EP holders, they pay proportionately less taxes than do the rest.
But as I mentioned, the consequence of all this micro management is that the Singapore worker becomes a professional phantom employee (useless to welfare of the world), the government coffers get suddenly enriched, foreigners make Singapore a brothel- sewing the seeds of revolution, if not drastic political change.
Rgds
C6.
