"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."
http://www.asiaone.com/Business/News/My%2BMoney/Story/A1Story20120217-328384.html
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.
No comments:
Post a Comment