Feb 25, 2013

Low Income family get $600,000 support

Budget 2013 focuses on strategies to achieve quality growth and build an inclusive society:

Singapore Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam announced in Parliament. 

"Taking all the Budget measures together, a young low-income couple with two children can expect to receive more than $600,000 over their lifetime, which is much more than the Government used to provide in the past, Mr Tharman said."

Has anyone got the detailed itemized report?

In my estimated citizen-ownership income, there is more than enough to pay each citizen $9,000 a year. For a person who lives till 80 years old, that will be $720,000. For a family of 4 persons, that will add up to $2.880,000 over their lifetimes.

Even if this low income family manage to get $600,000, they would be shortchanged by $2,280,000. This is the hidden and unjust tax on the wealth that is co-owned by all citizens.

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