An inclusive society

[phantom_opera]

Assume your income is 15k pm, are u willing to freeze your pay for 3y to pay the cleaners and lowest wage workers?

[carbuncle]

Yesh why not... Plenty to go ard

[sgrojak]

Yes, I think freeze is still OK...:cool:

[rattydrama]

you intend to change your profession to a less stressful job?
:D

[richwang]

Prof Lim is very smart.

For a rich man, wealth protection more important than anything else.
"Freeze" means protected.

If you look around the world (as instructed by our dear government), highest earners are under great pressure to face their income bubble to flatten:

France: 75% tax rate?
UK: 45%?
US: 39%?

Singapore is still handsome 20%+, and 0% capital gain tax.

I like the old guards: Prof Lim, Tommy Koh, etc.

Thanks,
Richard

[blackapple]

Are you sure the Singapore tax is 20% only ?

In US and UK, you do not have to worry about retirement because of high tax.

In Singapore, the govenment require Singaporeans to save in term of CPF for retirement. Thus you are also paying another additional 34% tax (employer and employee CPF rate). The total tax in Singapore is greater than 50%. We can call this indirect tax. Beside singapore has GST and COE.

Many people will say that you can use CPF for house. But is it your money and you have to pay interest to loan your own money. On top of this let the government earn the interest.. :doh: :doh:

[Allthepies]

why not?

for best effect those >5k freeze their pay too. why? when more people have their pay frozen, inflation will come down.

the best is to reduce the starting pay of all civil servants to a more sensible $2000-$2500 instead of the now superly inflated $4000-$4500...

when everybody pay comes down, hdb prices, condo prices, food prices will all come down naturally...

[phantom_opera]

Actually to be fair, recently garmen has helped the poor to pay for their HDB by introducing the additional CPF grant (or additional subsidy) so we are on the right path but somehow certain things are still very very controversial to the tune of an inclusive society:

$50 pay rise recommended by NWC

Workers earning below $1,000 are likely to receive a pay rise of at least $50, if the Government says yes to the National Wages Council's (NWC) recommendations.

The NWC has accepted a National Trades Union Congress (NTUC) proposal to boost the pay of low-wage workers by $50 plus a percentage increase, sources told The Sunday Times. The $50 will be part of basic pay, not a one-off payment. Unions will negotiate the rest with companies.

The union proposal is believed to have been included in the NWC's recommendations when it met last Friday. All NWC members, who include employer group representatives, unionists and public-sector officials, have signed off on the recommendations, which await the green light from the Cabinet. An announcement is expected this week.

If the pay rise happens, it will be the first time since 1984 that the NWC has recommended a minimum quantum of pay rise. That year, it recommended that companies raise the pay of workers by $27 plus 4 to 8 per cent.

[DKSG]

Actually to be fair, recently garmen has helped the poor to pay for their HDB by introducing the additional CPF grant (or additional subsidy) so we are on the right path but somehow certain things are still very very controversial to the tune of an inclusive society:

$50 pay rise recommended by NWC

Workers earning below $1,000 are likely to receive a pay rise of at least $50, if the Government says yes to the National Wages Council's (NWC) recommendations.

The NWC has accepted a National Trades Union Congress (NTUC) proposal to boost the pay of low-wage workers by $50 plus a percentage increase, sources told The Sunday Times. The $50 will be part of basic pay, not a one-off payment. Unions will negotiate the rest with companies.

The union proposal is believed to have been included in the NWC's recommendations when it met last Friday. All NWC members, who include employer group representatives, unionists and public-sector officials, have signed off on the recommendations, which await the green light from the Cabinet. An announcement is expected this week.

If the pay rise happens, it will be the first time since 1984 that the NWC has recommended a minimum quantum of pay rise. That year, it recommended that companies raise the pay of workers by $27 plus 4 to 8 per cent.

I find this proposal strange.

So, if a worker earns $950 and is supposed to get a 6% increment, does it mean they will now get $50 fixed increment and extra $7 ?

If so, then no point right ? But if you say worker will get the $57 increment PLUS another $50, then the actual increment will be $107! which is 11.3%.

Is that what the proposal is about ? 11.3% increment ?

A bit hard to apply, employers will likely offset the $50 from the actual intended increment. Then those poor performers benefit coz they dont have much of a merit increment!

DKSG

DKSG

[phantom_opera]

I find this proposal strange.

So, if a worker earns $950 and is supposed to get a 6% increment, does it mean they will now get $50 fixed increment and extra $7 ?

If so, then no point right ? But if you say worker will get the $57 increment PLUS another $50, then the actual increment will be $107! which is 11.3%.

Is that what the proposal is about ? 11.3% increment ?

A bit hard to apply, employers will likely offset the $50 from the actual intended increment. Then those poor performers benefit coz they dont have much of a merit increment!

DKSG

DKSG

IF I were Dr B, I would say: "how much do u want? $50 divide by 30 is $1.70 per day, allow you to buy NTUC bread for breakfast"

[DKSG]

IF I were Dr B, I would say: "how much do u want? $50 divide by 30 is $1.70 per day, allow you to buy NTUC bread for breakfast"

I dont think he cares about the cleaners.
He will say if no $50 increment, cleaners should all go on strike and let the condo become a slump, see how the owners can sell high price!
Then condo slump for 2-3 later, prices will go down by 50%!

Soon, Singapore Property down 50% by 2015!

He will say like that ... symptom of psycho problems.

DKSG