Why dont we increase the NIRC instead?
- Contributions from Reserves (NIRC) is now our single largest source of revenue. It is unwise to over-depend on one source. - Reserves are our national savings for a rainy day. - Our generation is benefiting from NIRC because past generations saved and grew the reserves. - We too should leave a fair amount to future generations - we balance this by using 50% and reinvesting 50% of our investment returns. Link to https://www.mof.gov.sg/docs/default-source/default-document-library/ifaq-gst-2020/gst_q1.jpg (NIRC Chart).
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