tag:blogger.com,1999:blog-17478547.post8824640075657822230..comments2024-03-27T20:17:30.597+08:00Comments on Growing your tree of prosperity: Why Singaporeans tolerate inequality.Christopher Ng Wai Chunghttp://www.blogger.com/profile/15534057160494859977noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-17478547.post-24411950995040699872018-03-14T16:55:52.171+08:002018-03-14T16:55:52.171+08:00So govt policies are grabbing people by their ball...So govt policies are grabbing people by their balls & convincing them to actively contribute to GDP. As an investor of Singapore Inc, that's good news for me.Unknownhttps://www.blogger.com/profile/02938450718690565242noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-44559458872631216272018-03-11T21:11:27.693+08:002018-03-11T21:11:27.693+08:00And passive income investors are losing out in thi...And passive income investors are losing out in this game. <br /><br />So I must get back into the employment business so that my standard of living will not be pushed down in the future !Christopher Ng Wai Chunghttps://www.blogger.com/profile/15534057160494859977noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-15802679737073013352018-03-10T15:47:03.731+08:002018-03-10T15:47:03.731+08:00The main problem I have with the "system"...The main problem I have with the "system" is that it allows people like CCS to rise to near the top. LOL!<br /><br />Govt has long ago recognized that long term maintenance of "prosperity" for the masses is to do away with artificial retirement ages, and to promote working for as long as required. The problem was govt had to balance this with business demands ... no company likes being forced to hire oldies or to pay them well.<br /><br />In recent years, govt has been made to realise the masses' unhappiness over the official policy dichotomy of working till drop dead versus no jobs / unlivable wages for oldies...<br /><br />Hence all the taxpayer support e.g. workfare, subsidized "re-skilling", special employment credit, wage credit scheme, sectorial "minimum wage" etc.<br /><br />Most of these taxpayer-funded policies were legislated after GE2011. No surprise also that the (up to 9 months) bonus for ministers & political appointees were also revamped after 2012 where 50% of KPIs depend on low- & median-income increases ... previously 100% of the KPI depended on just GDP growth.<br /><br />Hence the slight change in tack favouring pro-wage-growth policies --- the biggest of which is tightening of S-passes & E-passes. That's the reason why median household income has been rising strongly since 2012 onwards. And that's why many locals are "bearing" it --- they have experienced better bread & better butter, and actually enjoying the fruits of national & corporate economic growth ... unlike many peers in developed countries.Spurhttps://www.blogger.com/profile/11824813457786462446noreply@blogger.com