Robin Hood tax may be implemented to have higher taxes for successful businesses and individuals, however, it may not be a good idea in the case for Singapore. (Populist policies will lead to higher taxes: DBS Chief, Jan 10). Raising taxes will just move them to other countries which are more tax friendly.
Taxing the profitable businesses or wealthy individuals fairly can allow them to be inclined to expand their businesses resulting in more jobs creation for Singapore economy. Fairer tax incentive therefore provide more employment and employability to Singaporean.
A capitalist economy that creates incentives and competition see progresses, companies would not exist if they are subject to higher tax. Successful individuals work hard, discipline, save and invest. Government of Singapore should encourage these individual and not demonise their success. It is a zero-sum game where both the rich and poor are hurt in a free market economy where only the rich are subject to higher taxes.
Source: The Strait Times, 13 January 2020