Why is Singapore's policy of robbing the rich and helping the poor good?

For this problem, it mainly depends on the objective problems and conditions such as the level of economic development of the country. 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! 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. As soon as this news came out, many netizens in China were excited: I think this method is good. As an ordinary person at the bottom, it is not easy to earn money to support the family. Isn't it worse to meet inflation? 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 as a result of Singapore's tax reform, many people rushed to buy and store all kinds of daily necessities on the eve of the tax reform.

Singapore is a small country, belonging to the old saying, a typical country with few people during the New Year. However, there are many places worth learning from big countries. 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.

But this does not mean that every country can follow suit, because Singapore is a small country with a small population base but a relatively developed economy. They can do this, but other countries may not. China, for example, is the second largest economy in the world, but it has a large population base and a much smaller jdp per capita than those in developed countries, which is not suitable for this practice.