How does Singapore give money to the poor?

I think Singapore's practice of giving money to the poor is worth emulating. This method is to deal with rising prices and inflation. Singapore has increased subsidies to the poor this time, and the rich have to bear more consumption tax accordingly.

In order to cope with inflation and improve the quality of life of ordinary people, Singapore has taken such measures.

The first reason is that 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. Rich people are not short of money. They squander money 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.

The second reason is that as a result of Singapore's tax reform, supermarkets in Singapore were crowded on the eve of the tax reform, and many people rushed 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.

In a word, 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. Singapore's practice of giving money to the poor and letting the rich increase taxes can effectively alleviate the difficulties brought by the domestic economy.