Not for love of money, but of Humanity. "Greater is he who works for the good of all, then he who works for the good of himself only" ~ Matthew 25:40: "The King will reply, 'I tell you the truth, whatever you did for one of the least of these brothers of mine, you did for me.'"- (NIV). I live in Singapore where the Emperor must not be disturbed.

Monday, March 28, 2011

How long can an economy, sustained on steriods last?

Sorry for the late follow-up but your comment requisites rebuttal.

Singapore Tax loopholes (income, GST) that the rich dance circles around
... ...Always remember that corporates are NOT Humans, as such, conferring corporates MORE tax benefits then we confer humans is certainly placing the cart before the horse if not the opening of a Pandora's box of human evil.
No comments about the rest of your observations. Just this statement above. It is precisely that Corporations are NOT humans that we cannot compare the benefits enjoyed by Corporations vs humans. There are many arguments to support this; about the only the key argument I want to highlight is that we want to Corporations to hire many many people and purchase supplies from many many SMEs that hire even more many many people, something a income-tax-reduced person may not be able to do at personal basis.
So while going after tax-dodgers is great, punishing Corporations in general to get at small handful of tax-dodgers is a bit...dodgy.
"we want to Corporations to hire many many people and purchase supplies from many many SMEs that hire even more many many people"
So you would put our economy on steroids and swallow hook, line and sinker, the Trojan horse of fascism delivered under the guise of 'Prosperity'?

In the film documentary 'The Corporation' (2003) [video (trailer)]: "What is a Corporation?" is explained as: "It is, under the law- a legal person. These are a special kind of person who had no moral conscience. Designed by law to be concerned only for their stock holders." - "I just can't be personally responsible" - "Maybe you better incorporate"

As described in 'The Corporation' (2003), the book 'IBM and the Holocaust' (2001) by Edwin Black/ Video [The Corporation (19/23) @1:45]:
[Excerpt] IBM and the Holocaust is the stunning story of IBM's strategic alliance with Nazi Germany -- beginning in 1933 in the first weeks that Hitler came to power and continuing well into World War II. As the Third Reich embarked upon its plan of conquest and genocide, IBM and its subsidiaries helped create enabling technologies, step-by-step, from the identification and cataloging programs of the 1930s to the selections of the 1940s.
By all means, grant Corporations human rights.
By all means make prosperity an ideal to worship.

They courted 'prosperity' in the 1930s:

And this was the direct result of their union with 'prosperity':

So I'd guess that if you'd really wanted to sleep easy at night, every night, then these unprincipled policies that grant corporations greater tax-exemptions than a true flesh and bone human or "income-tax-reduced person" (by your derogatory definition) on excuse of achieving local employment targets is certainly NOT the way to go.
'Corporations', like fire, is a good servant but a bad master.

For one, you cannot jail a corporation, nor can you bankrupt nor punish its share holders.

Corporations are merely the vehicles of profit of share holders; puppets being a better description.

As such, the tax exemptions enjoyed by corporations cannot exceed that of individuals (real persons); this isn't "punishing Corporations" but plain simple prudence.

Let us not profit from the woes of others.


At/ related:
28Mar2011: Tax loopholes in SG that allow the cunning to CHEAT on personal income taxes

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