Is it useful for Singapore to do so?

I think this practice is worth popularizing.

In order to cope with rising prices and inflation, Singapore has increased subsidies for the poor this time, and the corresponding rich people have to bear more consumption tax. In order to cope with inflation and improve the quality of life of ordinary people, Singapore has taken the means of robbing the rich and helping the poor!

The increase of consumption tax has triggered panic buying to some extent. The supermarket was overcrowded and residents snapped it up.

While subsidizing low-and middle-income people, the rich will bear more consumption tax. In the 2023 budget, Singapore indicated that it would adjust the tax rate of luxury houses and luxury cars this year.

Wealthy consumers, foreigners and tourists will bear more consumption tax than low-income citizens.

The rich are not short of money. They spend money indiscriminately, which is a waste in the final analysis.

Now, raising taxes on the rich and giving money to the poor have reached a good balance, which is more conducive to social stability and development.

This is a very good practice and should be praised by the Singapore government!

It is also said that the result of this tax reform in Singapore is that on the eve of the tax reform, supermarkets in Singapore are crowded with people, and many people are scrambling to buy and store all kinds of daily necessities.

It seems that Singapore's tax adjustment this time is wrong. If we say that in order to balance the gap between the rich and the poor and increase the ratio of property tax and inheritance tax, it is a better way to increase the consumption tax of various luxury goods.

The increase in consumption tax is actually subsidizing the poor with the money of the middle class, which has little effect on the rich!

There are many places worth learning from big countries.

For example, in diplomacy, we insist on independence, not taking sides or favoritism, but both.

The Singapore government is efficient and clean. What it pursues is a relatively successful method of high salary and honesty. The matching anti-corruption measures are also very strict. The salary is high, and officials don't want to or dare to be corrupt.

Social welfare in Singapore is also very good, especially housing, which meets the demand of ensuring residents have housing. Those with money can buy a house, and those without money can live in low-rent housing provided by the government.

Singapore took this measure directly to cope with the widening gap between the rich and the poor and the increasing inflation.

Whether it works or not, use your hands and feet first. Due to inflation, the purchasing power of money in the hands of the poor has declined. Only by giving money to the poor can we improve their purchasing power, stimulate consumption and mobilize production.

The rich have more wealth savings, and some tax increases will not have much impact on them. Moreover, taking money away from the rich also increases the circulation efficiency of money and is of great benefit to economic development.

So I am very supportive of Singapore!