What challenges do Singapore face due to having to provide for an increasing aging population today?
Sirakyn asked:
I think SG is becoming more developed, which means it is going to have an increasing aging population. There are bound to be problems.
LAURA
I think SG is becoming more developed, which means it is going to have an increasing aging population. There are bound to be problems.
LAURA
November 3rd, 2008 at 2:51 pm
The whole world has a problem coping with it’s aging population this is mainly due to the government systems being funded by taxation so any individual not paying tax regardless of age becomes a burden on society.
The problem is with the system, the first recorded tax system was the Mesopotamians their system fell apart and was unsustainable as the burden of tax became to heavy. Then the rest of the world copied them.
It is with a little thought possible to have a tax free society that would fund better services and welfare for its people if a government was to assess the business ideas of its people and financially assist those with good ideas for a percentage of the business in less than ten years you would end up with a country that owned 40% of thousands of profitable bussineses providing far more revenue than tax ever could plus the econamy being tax free would attract huge investment