Monday, August 15, 2011

Buffet's Suggestion

Just come across an article from Buffet which I totally agree. We, in Singapore should do the same to foster a sense of social cohesion and prevent us from turning into a tax refuge for the super-rich else where.

Here is a segment extract:-
"For those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate. "

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