Did you know that the top 30% of income earners in Singapore pay about 7.7 Billion of income taxes each year?
The other 70% pay ZERO.
So if you are part of this 70%, you are a net recipient of almost 8 billion dollars of transfers.
If you are part of the 30%, you are very fortunate to be a giver rather than a receiver.
No complaints either way.
Interesting factoid for sharing.
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Calvin Cheng
*Article first appeared on http://goo.gl/cpp5ph