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Comment by pydry | Hacker News Reader

Money laundering.

Singapore exists at the behest of the United States. Its sovereign wealth fund is heavily invested in the United States and its geopolitical precariousness on the straits of malacca is predicated upon the implicit protection of the United States Navy.

It's a political choice to let millionaires flee there, just as it's a political choice not to tax them at home. A snap of the US's fingers will change Singapore's policy.

Like when Wrigley sent a US Congressman to visit - he snapped his fingers and chewing gum was no longer banned.

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> Singapore exists at the behest of the United States.

That's true of basically 85% of the world. The only really independent countries, as far as I can tell are the US, China and Russia with France, Germany, UK and India on the edge.

I'm not sure what your point is unless you think the US will suddenly reverse its centuries old policy and start colonizing the world.

Their point was that the presence of wealth outside of the US is not an indicator of more "correct" economic policy.

>That's true of basically 85% of the world.

That's precisely why the argument of "if we tax the rich they'll just take their wealth elsewhere" doesn't stack up. If it happens, when it happens, it happens because we made a conscious decision to enable it.

> Like when Wrigley sent a US Congressman to visit - he snapped his fingers and chewing gum was no longer banned.

He must not have snapped very loudly, because the only way to buy chewing gum to this day is as medicine (e.g. nicotine gum) from a doctor or pharmacy.

chewing gum is now legal in singapore and no longer banned. but you’re right, you can’t buy it locally.

The possession and consumption of chewing gum (this feels hilarious to type) have always been legal; the import, sale, and manufacturing of chewing gum was banned, as it still is save for the “medical” exceptions.

I can show an example otherwise - the PM of Singapore saying no to Bill Clinton when he asked the Singapore authorities to not impose corporal punishment on an American citizen (caught for vandalizing cars).

Singapore is not just dependent on the US. It depends heavily on China too. Defense wise, Singapore has one of the strongest forces in the region.

And most millionaires in Singapore are Singapore citizens.

Singapore's status is not just some offshore tax haven, as seen by many in the west. It has a diversified economy.

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