Re: About COE - True or Fake?
What they could have done better was NOT to do what some scholars always try to do - make it sexy to their bosses and over package. Call a spade a spade, keep it as a "Luxury Tax" or something to that effect. The public will understand that cars are only for those who can afford it, period. Call it anything else, such as 'Certificate of ENTITLEMENT' and every father mother's son will bang so hard on the freaking table demanding to be ENTITLED to own a car because they are this and that and whatever f, and miss the whole freaking point of the luxury tax system in the first place.
Case in point - if a person had to pay a Lux Tax of $80k to buy a car, he would first think twice about affordability within his means (or the combined means of his household). Now instead of that, we have COEs, and we feel ENTITLED to have that because we serve NS or pay GST or live/lived/rented HDBs etc etc. And the rest, is history.