Two things in life are certain: death and taxes. (c) benny franklin

April 15th is fast approaching, which means it’s time to fork over some dough to Uncle Sam. It also means it’s time to fork it over to Uncle…Tan? I find the Beatles always make this time of year more bearable.

I looked up the Singaporean income tax structure this morning, and was shocked to discovered that after credits and tax rebates, my total tax rate works out to be less than 5%.

That’s insane! And as a single person, my US taxes would have been somewhere around 25%. Crazy! If I were living in France: approximately 30%.  And probably close to 50% in Scandinavia.

I spend more than that on gasoline in a year in the US. I spend more than that on a plane ticket home. I spend more than that on restaurants in a year.

I’m living in one of the wealthiest nations (per capita) in the world, and paying less than 5%? Hmm…maybe best not to ask questions.

Well, who needs the Beatles now? Laissez-faire baby, and long live free market economies!

[Disclaimer: my SG health insurance sucks].

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