Sunday, 26 August 2012

Ageing Costs and Land Tax

Increasing taxes and reducing spending and entitlements seems to be a common element of most aging nation.The first new tax should be an expansion of the land tax with reverse mortgages provided by Centrelink for pensioners.

After all, surely any new taxes should should increase for the aged as well?

It should not be about raising taxes for the workers or investors?

Singapore Sees Taxes Rising on Social Spending
as Nation Ages
By Shamim Adam on August 26, 2012
Singapore will need to raise taxes in the next two decades as the government boosts social spending to support an aging population, Prime Minister Lee Hsien Loong said as he proposed measures to boost the country’s birth rate.
The prime minister pledged to ensure sufficient affordable housing for citizens, invest in pre-school education and add nursing homes for the elderly. He urged Singaporeans to build a more compassionate society, reject anti-foreigner sentiment and have more babies, saying the nation needs to re-invent itself to progress as the economy faces slower growth after years of rapid expansion....

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