A study by the Institute of Policy Studies show that a majority of Singaporeans are either uncomfortable or uncertain about paying more taxes to support our aging population.
Only 34 percent of 2000 respondents polled said they are comfortable with paying higher taxes for higher social spending on the elderly instead of tapping on the national reserves.
40 percent said they wouldn’t be comfortable, while 26 percent chose to stay neutral.
The study, which polled Singaporeans and permanent residents aged 21 years and above was conducted between November and December last year.
This comes as the government announced that it will be exploring ways to increases taxes.
Besides a possible increase in the Goods and Service Tax, it is also looking at taxing online purchases or implementing new forms of taxation.