Sg Lee on wealth tax
From Singapore PM Lee Warns of U.S.-China Miscalculation Over Taiwan · · Bloomberg Television
“I think it's an element in a comprehensive revenue system. You tax consumption, you tax income, you tax sins, and you should tax wealth, whether wealth in the form of property, ideally wealth in other forms... We need to find a system of taxation which is progressive and which people will accept as fair. And fair means everybody needs to pay some, but if you are able to pay more, well, you should bear larger burden of the tax.”
On , Sg Lee, CEO & Founder at Toss, spoke about wealth tax during Singapore PM Lee Warns of U.S.-China Miscalculation Over Taiwan on Bloomberg Television.
About Sg Lee
SG Lee, CEO and founder of Toss, has commented on the potential economic impact of U.S. trade policy changes. In April 2025, he stated that the U.S. wants to replace Most Favored Nation status with reciprocal tariffs, which he said would harm small countries because they lack bargaining power. He noted that Singapore's Ministry of Trade and Industry had revised its 2025 growth forecast down to 0–2%, and he predicted slower growth and a possible recession in the medium term. Lee has also discussed Toss's business strategy and IPO plans. In December 2022, he said the company was financially ready for an IPO but had not decided on a market or timing, describing the IPO as "Day One" rather than an endpoint. He noted that Toss had half of South Korea's population as registered users and a 20% market share of online payments, and that its buy now, pay later product would be distributed to that base. He also said Toss had acquired a stake in mobility operator VCNC (Tada), citing the high frequency of transactions in Seoul as a key factor.