Sep 17, 2012

Singapore land sales - another big income for citizens

"In Singapore, income from government land sales is booked directly into reserves and not reflected as revenue in the annual budgets. Citi estimates Singapore collected nearly S$10 billion in land sales in the 10 months to January 2012."

Under the proposed citizen-ownership democracy, land sales by the government to private entities is expected to form a big part of the annual citizen-ownership income.

Assuming the government of Singapore sells $12 billion worth of land every year, each Singaporean citizen can expect to receive $3750 annually, PROVIDED Singapore becomes a citizen-ownership country.

Based on these common properties that have been estimated, each citizen of Singapore would have received the following in 2011, IF Singapore had been a citizen-ownership democracy.

Income from sales of car ownership certificates: $650
Income from (part of )sovereign wealth investment return: $2431
Income from government land sales: $3750.
Sub total: $6651

This subtotal has not included income from other common properties. But, based on just these three renewable properties, each citizen should have received $6651. Each family of four should have received $26,600 in 2011, under a citizen-ownership democracy. These payments are expected annually. Currently, as in current democracy except Alaska, all these incomes have been taxed away under an extreme tax system.

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