"Please milk some monies from the rich and famous to spend on [the] social welfare needs of Singaporeans by taxing people such as new citizens like eminent Jet Li, Gong Li; and well-known PRs [permanent residents] like the co-founder of Facebook Eduardo Saverin," read one such comment on the forum.
Economists say it is a balancing act for the government: showing that it is keen to address wealth inequality while maintaining the country's appeal to foreign businesses on which it relies to fuel economic growth given the local population's aging demographics.
"In the last budget, the government indicated that wealth taxes could start to play a bigger role in terms of financing and more help for those on lower incomes," said Selina Ling, head of treasury research and strategy at OCBC. "They have already started tweaking property taxes and taxes on cars, so we could see more tweaks along these lines. That could be more palatable for now."
Singapore is expected to overtake Switzerland to become the world's biggest hub of offshore wealth by 2020, research firm Wealth Insight said last year.
(Read more: Is Singapore's prized social stability under threat?)
"Singapore is trying to narrow what has been a growing income gap in a way that will not dis-incentivize high earners or workers," said Vishnu Varathan, market economist at Mizuho Corporate Bank.
"There is a feeling that there will be more progressive tax implementation, so there's more differentiation in the tax bracket. There is scope to do more but they don't want to do it in a way that causes high income earners to reconsider how tax friendly Singapore is," he added.
In Singapore, the top individual income tax rate is 20 percent – much lower than in many other developed economies. In Japan for instance, the highest income tax rate is 50 percent.
There's also likely to be supportive measures for those on lower incomes, analysts said. Earlier this month, Singapore moved to set an entry-level minimum wage of S$1,000 for its cleaners.
The budget will be delivered by Singapore's Finance Minister Tharman Shanmugaratnam on February 21.
— By CNBC.Com's Dhara Ranasinghe; Follow her on Twitter @DharaCNBC