So there are now 4,557 people earning more than $1 million each.
Their combined income came to $8.63 billion and they paid about $1.6 billion in income tax.
That works out to be 18.5% tax rate.
Singapore's total tax revenue recorded the 12 months before March 31 is $43.4 billion.
Those 4,557 high earners are only contributing 3% of the total tax revenue.
Say for example if we were to tax the hell out of those rich people at various tax rates below
30% - 2.59b in tax - 44.39b tax revenue - 5.8% of total
40% - 3.45b in tax - 45.39b tax revenue - 7.6% of total
50% - 4.32b in tax - 46.12b tax revenue - 9.3% of total
The rest of the so-called lower earners contributed $41.8b.
Say we increase the tax of the rest by 1%. That will give us an additional $4.18b.
To get that amount with high earners, we had to increase the tax level of high earners to you're-going-to-piss-them-off 50% level.
That's the law of large number. You will get a more significant result when you increase a small percentage that affects a large number.