Should millionaires pay the same % of tax as middle income taxpayers?

[DB008]

And I'm guessing he doesn't even know what a AONE6 is. Or even a LONE6, if we have to slum it.

LOL!!
Good point.

You got off lightly! I was told I didn't understand English in that one.

Again, LOL. No real world experience.

Even if you set up your own community, and it grew, you'd need someone to be head and take responsibilities, delegate duties and so on. So, in essence, you become a small council/Gov anyways, so what's the difference? Roads, hospitals, teachers, utilities, etc, etc, etc, who pays for that I wonder?

 

[Julia]

LOL.
Let me guess his answer? 0?

McLovin, l thought that you'd know by now that SCM doesn't answer all questions, only selected ones. Have you looked at his Singapore thread, which he started, my questions are still unanswered, dear-oh-dear...

He's one of those fresh out of uni persons, who is in a 'we don't need a Government' stage of his life. This will blow over in a few years. Takes time.

Here is an example; wait until he is a in a car crash or similar accident (driver/passenger, doesn't matter), and he'll be begging for an ambulance faster than you can spell the word.
Let me guess his answer, l don't travel cars?

Another one, "I don't use Medicare, l don't even have a Medicare Card"
Let me break your arm/leg and see what happens?

+1.
Prawn, you are wasting precious minutes of your life when you attempt a rational discussion with SCM. An exercise in futility.

 

[BradK]

+1.
Prawn, you are wasting precious minutes of your life when you attempt a rational discussion with SCM. An exercise in futility.

+2. I always have felt a bit of a tinge of sorry for SCM when he gets hammered on here. However... gosh. Sometimes it just gets a little bit silly.

Oh... I have a new son in the house now (10 days old) and he too would like to register his frustration

+3

 

[Julia]

Congratulations on the new arrival, Brad. Hope he's a good sleeper.

 

[BradK]

Congratulations on the new arrival, Brad. Hope he's a good sleeper.

Julia, we call him our 'healing baby' ... he is PERFECT, 11/10 for sleeping, feeding and no crying. Almost perfect as can be... 4 to 5 hour sleeps, 1 hour feeds around the clock.

Although we love our little missy to death, she was a horrible sleeper - and had to go to sleep school - tresillian... thus, this baby is 'healing the scars' of the last one! LOL

Brad

 

[Starcraftmazter]

If fixing a country is as simple as not paying taxes

Where did I say that? Not paying taxes cannot possibly leave us in a worse place than we already are though.

then i dont see why moving isnt as simple as a plane ticket.

Well I guess you must be completely disconnected from society then.

How many third world countries have you visited?

We don't live in the 19th century buddy, you don't need to waste time, money and effort going to another country to find out about it.

+2. I always have felt a bit of a tinge of sorry for SCM when he gets hammered on here. However... gosh. Sometimes it just gets a little bit silly.

I think to the contrary it's funny how people here don't know how to argue and love tax so much. Must be a lot of communists on this forum. One wonders why they don't move to Cuba.

 

[BradK]

\
I think to the contrary it's funny how people here don't know how to argue and love tax so much. Must be a lot of communists on this forum. One wonders why they don't move to Cuba.

Manners, mate. Manners. I ain't getting involved in no debate with you.

 

[McLovin]

We don't live in the 19th century buddy, you don't need to waste time, money and effort going to another country to find out about it.

I think you'd find it quite enlightening to visit the third world. It might give you some perspective. Something that is glaringly deficient in most of your arguments.

How's the tax in Singapore going, figured that one out yet?

 

[Starcraftmazter]

How's the tax in Singapore going, figured that one out yet?

The lowest in any decent country I know of? Figured what out?

 

[McLovin]

The lowest in any decent country I know of? Figured what out?

Whether you have to pay capital gains on trading profits. You haven't forgotten have you!

 

[Starcraftmazter]

Whether you have to pay capital gains on trading profits. You haven't forgotten have you!

The law clearly says you do not.

However as I have explained several times now, Singapore has the lowest tax rate of any developed country. Whether capital gains are counted as income or not is irrelevant. I know some people are not good at maths here, but surely it cannot be that hard to understand that regardless of anything, you will still be taxed a lot less in Singapore than anywhere else.

 

[McLovin]

The law clearly says you do not.

No. It doesn't. But you keep believing that.

Over and out.

 

[Starcraftmazter]

No. It doesn't. But you keep believing that.

What difference does it make what I "believe"? I don't actually have any beliefs; it is a simple fact that tax law in Singapore says that capital gains are not taxed.

But what is the difference? This is what I ponder. Why do you keep pushing the issue as though it is relevant? What is the end result of having to pay income tax on capital gains, if it is taxed significantly less than in Australia or anywhere else?

Do you care to provide an answer to this question? Or are you just trolling around without any particular purpose?

 

[Ves]

Doesn't Singapore have different taxes instead of capital gains (such as property tax etc)?

 

[Starcraftmazter]

Doesn't Singapore have different taxes instead of capital gains (such as property tax etc)?

Who cares?

It's some insignificant amount of money. Doesn't stop you from making millions in trading and having it taxed at a top of 20% (17% for companies) - rather than the barbaric 45% (and 30% for companies) here in Australia.

 

[Ves]

No point whinging about tax if you're never going to make millions trading if you ask me. If you were doing it, you certainly wouldn't be on here.

 

[Starcraftmazter]

No point whinging about tax if you're never going to make millions trading if you ask me. If you were doing it, you certainly wouldn't be on here.

Well the topic is about millionaires and how much tax they should pay! What can I say? I'm a very forward-looking person. Not to mention that you only need to make over $37,000 (in any sort of employment) to be screwed over by the Australian tax system, and for it to be more profitable to live in Singapore. Of course you have to consider higher rents, but apart from that...

 

[Trembling Hand]

Well the topic is about millionaires and how much tax they should pay! What can I say? I'm a very forward-looking person. Not to mention that you only need to make over $37,000 (in any sort of employment) to be screwed over by the Australian tax system, and for it to be more profitable to live in Singapore. Of course you have to consider higher rents, but apart from that...

hey SCM one day when you make money from a trading, or start trading, you will find out what you really pay in tax. It isn't 48%.

 

[Starcraftmazter]

hey SCM one day when you make money from a trading, or start trading, you will find out what you really pay in tax. It isn't 48%.

I didn't say it's 48%, I said 45%. And that's what it is, check the ATO site for 2012-2013 taxes if you don't believe me.

 

[Intrinsic Value]

Well the topic is about millionaires and how much tax they should pay! What can I say? I'm a very forward-looking person. Not to mention that you only need to make over $37,000 (in any sort of employment) to be screwed over by the Australian tax system, and for it to be more profitable to live in Singapore. Of course you have to consider higher rents, but apart from that...

That is part of the reason I am working and living in Singapore now.

Yeah I pay a lot more for housing but I no longer pay 100k tax a year.