Sep 26, 2012

Singapore 2011. What normal citizens received. What citizen-owners could have.

The ruling party of Singapore decided to give Singaporeans the following amounts in 2011. The value varies with income level and type of residential unit. About 80 per cent of Singaporeans received S$600 to S$800 in Growth Dividends.

"Those with low incomes and who live in a three-room or smaller HDB flat will get a growth dividend of S$800."
"Those in the middle-income group and who live in HDB flats and low-value private homes will receive a growth dividend of S$600."
"S$300 to those who live in expensive homes but do not have high incomes"
"The growth dividends will benefit about 2.5 million Singaporeans" out of 3.2 million.
Children are excluded.

If Singapore were to adopt a full citizen-ownership democracy, how much would each citizen have received?

As calculated from just three common properties (car ownership certificates, land sales and sovereign wealth income), each citizen of Singapore, regardless of age or other conditions, should have received $6651 in 2011 under a citizen-ownership democracy.

The handout, arbitrarily decided, is at most about 10% of the rightful citizen-ownership income. Many get 2% or less, compared to the rightful citizen-ownership income of at least $6651.

This illustrates the extreme taxation that democracies all over the world are doing. All the citizen-ownership incomes that rightfully belong to citizens have been 100% taxed away.

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