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Thread: Dangers of please all economic

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    Default Dangers of please all economic

    http://news.asiaone.com/news/singapo...choices-pm-lee

    Here is the article by Andy Mukherjee, published on June 14, 2014:

    The perils of please-all economics

    Singapore is confronting the perils of please-all economics. Ageing citizens are pushing the Government for bigger nest eggs and more subsidised health care and housing. There is also popular resentment against letting more foreigners in, and not much appetite for increasing the 7 per cent consumption tax. Squaring this fiscal circle will be a long-term challenge.

    Already, there's simmering anger in the city-state about overcrowded trains and costly public housing. About 2,000 people gathered recently to demand that the state-run retirement plan raise its 4 per cent annual interest rate.

    People protested last year, too, when the Government unveiled a plan to boost the resident population by 30 per cent to 6.9 million by 2030, with immigration compensating for a drooping birth rate.

    The multifaceted discontent puts Singapore's fiscally conservative Government in a quandary.

    Expanding the economy - and the tax base - with less foreign labour will mean improving the productivity of the local workforce. That's a long shot.

    Another way to pay for everything people want is to tax companies more heavily. But Singapore's business costs are already quite high. A third strategy could be for the city-state to try to earn more on its substantial sovereign wealth by buying riskier assets. That could backfire, leaving less money for welfare.

    Alternatively, the Government could skimp on investing. The outlay on the city's development budget in the most recent five- year period has jumped by a third.

    Slowing the pace might be a mistake, however. Pricey real estate would swoon if Singapore loses its urban buzz and stops attracting investors and tourists. That will make Singapore's property- loving citizens less wealthy and more miserable. The trade-offs are difficult. But Singapore has some advantages.

  2. #2
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    Why PGP not targeted only for the poor and have mean-testing? Trying to please all old people???

    Quote Originally Posted by star View Post
    http://news.asiaone.com/news/singapo...choices-pm-lee

    Here is the article by Andy Mukherjee, published on June 14, 2014:

    The perils of please-all economics

    Singapore is confronting the perils of please-all economics. Ageing citizens are pushing the Government for bigger nest eggs and more subsidised health care and housing. There is also popular resentment against letting more foreigners in, and not much appetite for increasing the 7 per cent consumption tax. Squaring this fiscal circle will be a long-term challenge.

    Already, there's simmering anger in the city-state about overcrowded trains and costly public housing. About 2,000 people gathered recently to demand that the state-run retirement plan raise its 4 per cent annual interest rate.

    People protested last year, too, when the Government unveiled a plan to boost the resident population by 30 per cent to 6.9 million by 2030, with immigration compensating for a drooping birth rate.

    The multifaceted discontent puts Singapore's fiscally conservative Government in a quandary.

    Expanding the economy - and the tax base - with less foreign labour will mean improving the productivity of the local workforce. That's a long shot.

    Another way to pay for everything people want is to tax companies more heavily. But Singapore's business costs are already quite high. A third strategy could be for the city-state to try to earn more on its substantial sovereign wealth by buying riskier assets. That could backfire, leaving less money for welfare.

    Alternatively, the Government could skimp on investing. The outlay on the city's development budget in the most recent five- year period has jumped by a third.

    Slowing the pace might be a mistake, however. Pricey real estate would swoon if Singapore loses its urban buzz and stops attracting investors and tourists. That will make Singapore's property- loving citizens less wealthy and more miserable. The trade-offs are difficult. But Singapore has some advantages.

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    Quote Originally Posted by teddybear View Post
    Why PGP not targeted only for the poor and have mean-testing? Trying to please all old people???
    PGP is all the population? U are really dumb!
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    Everybody who is eligible for PGP is a voter, while those below 21 years old can't vote.............
    Not sure what is the % of PGP population, but given those who can vote is about 2m, PGP roughly made up of >600k of the voters?


    Quote Originally Posted by minority View Post
    PGP is all the population? U are really dumb!

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    Quote Originally Posted by teddybear View Post
    Everybody who is eligible for PGP is a voter, while those below 21 years old can't vote.............
    Not sure what is the % of PGP population, but given those who can vote is about 2m, PGP roughly made up of >600k of the voters?
    Why u only look at voters? The rest of the people are not people or population? 600k out of 3.6m is all the people?
    “Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
    ― Martin Luther King, Jr.

    OUT WITH THE SHIT TRASH

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    Your question just PROVED that you are indeed the epitome of ignorant !!!!!!!!!!!!!!!!

    Quote Originally Posted by minority View Post
    Why u only look at voters? The rest of the people are not people or population? 600k out of 3.6m is all the people?
    Quote Originally Posted by teddybear View Post
    Everybody who is eligible for PGP is a voter, while those below 21 years old can't vote.............
    Not sure what is the % of PGP population, but given those who can vote is about 2m, PGP roughly made up of >600k of the voters?
    Quote Originally Posted by teddybear
    It is REALLY true, a fact!
    So many of us agreed with this statement!
    Quote Originally Posted by minority
    Hmmmmmmmm oh really ???????????
    Quote Originally Posted by Photogguy
    As I have said before, you are indeed the epitome of ignorant .....who is adept at cut and paste ......

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    Quote Originally Posted by teddybear View Post
    Your question just PROVED that you are indeed the epitome of ignorant !!!!!!!!!!!!!!!!

    This goes to show you are just a one time dumb ass. The pinnacle of dumbness. Those children where the PGP are dependent includes the children n grand children's. Which might be of voting or not voting ages. they all benefit from the lifting of the medical burden from their shoulders.

    so your Anal Logy of 2M show how myopic and dumb you are. it benefits all singaporean as a whole from all generations.

    Do u need me to draw out for you? Draw the human must draw the intestine for you?
    “Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
    ― Martin Luther King, Jr.

    OUT WITH THE SHIT TRASH

    https://www.facebook.com/shutdowntrs

  8. #8
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    Talk cock! Many of the people in age 45-65 years old have no more parents (dead). They are expected to subsidize these PGP people some of whom are richer than them (because of not targeted and no mean testing)? So now, where got benefit all people? Benefit grandchildren? You are saying as though everybody in future passed 65 years old eligible for PGP? True or not or you lying again?!

    Quote Originally Posted by minority View Post
    This goes to show you are just a one time dumb ass. The pinnacle of dumbness. Those children where the PGP are dependent includes the children n grand children's. Which might be of voting or not voting ages. they all benefit from the lifting of the medical burden from their shoulders.

    so your Anal Logy of 2M show how myopic and dumb you are. it benefits all singaporean as a whole from all generations.

    Do u need me to draw out for you? Draw the human must draw the intestine for you?

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