In response to a call by our respected President Halimah Yacob for bold changes to help Singapore face a different future, which all of us at the kopitiams nod our heads in agreement, some smart Alec who probably stuffed his head with too much knowledge suggested some mambo jumbo idea that only people living in ivory towers can agree with!

Siao ah! This fellow, some in the kopitiam suspect, is either high on drugs or drank too much beer before making such a remark! Cannot tahan, seriously, even the chio beer lady – with the ultra-short skirt that only old cheeko peks will fight over – cried out in disgust! “他是神经病呗!”(Is he crazy?)

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Source: Sureboh Singapore

I wonder aloud, “Is he floating test balloons?” or “Does he live on Mars?”

⦁ No CPF Portion For Housing

For the longest of time, Singaporeans have been using CPF savings to pay for the monthly mortgages. Without this CPF, many Singaporeans will struggle to cough up BLOOD (cash) to pay for their houses. Sure, more CPF money being saved up means a secured future but without enough cash, plenty will not be able to survive.

How are young couples going to get married? How to procreate? Even if we only need a very small space, as suggested by some lady, they still need a place to sleep? Changi Airport and beach parks as alternatives?

It may be feasible if we can stretch repayment periods to 99 years – similar to the tenure of HDB flats – allowing the future generation to carry the baton.

The implication of such a silly move will only cause the property market to plunge. Who can afford to buy houses? Plenty will be chased out of their homes and property prices will crash! Developers can start to explore new core businesses or choose liquidation as a result of such a policy, no?

Next will be the banks, who will lose a significant portion of their loan portfolio – property loans!

⦁ Introduce Capital Gains Tax

Sure! This is a brilliant idea. Tax the rich, additional taxation on investment incomes, but maybe this brilliant economist can check with the banks and stockbroking houses just to get a feel from the ground of the general investment sentiment. Ask the Singapore Exchange if investors will flee totally to other more buoyant markets, not that our trading volume is now sky high!

Smart lah, very smart. No wonder people all over Singapore are laughing. It is obvious that by choosing to spite face, these policies serve only to cut the nose – and crash the economy.

This article is by Coffee Talk.

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