Sunday, September 19, 2010

"Never Retire" Message gets louder....

You might think that I collected these headlines over a period of time but they are from today's New Paper. Yes, this is the amount of "encouragement" from just one single newspaper in one day telling you that you're better off not retiring - you'll be 'understimulated', idling, wasting your time and so on if you retire. For your own good, you shouldn't retire.....

The truth is the govt is selling the "never retire" idea not so that you can have a happier life but to solve other problems. A large segment of the population work for low wages and will never be able to retire at a proper age and have to keep working until they are very old. The PAP govt has been extending the CPF withdrawal age forcing Singaporeans to work until an advanced age and locking up bigger sums by raising the minimum sum and through schemes like CPF Life. As a principle, the PAP wants ordinary Singaporeans shoulder all retirement responsibility themselves without govt help. In a socio-enomomic system that has the highest income gap among developed countries, many workers don't even make enough to keep up with the rising cost of living let alone save for retirement. Unless the system changes, many will not have enough savings and CPF to ever retire. Today, we see many aged cleaners, tissue paper sellers and old folks who struggle to get by collect aluminium cans from bins, the sad thing is we see it so often and have gotten used to it. Many don't think about it until someone from China or Phillipines points it out to us..........a scene often repeated is one in which a tourist from China sit at one of our hawker centers to savor our local delights only to get a shock when a frail aged Singaporean comes by to clean the table - something he never expects to see in a first world country. He looks at his Singaporean friend for an answer but get this "what's the big deal" look. Many Singaporeans have no choice, under the PAP leadership, but to accept that some among us have to work until the day they die. This something considered inhumane in other countries but is a policy goal of the PAP govt and the state controlled media goes all out to get us to accept it by telling us that it is a "waste to retire", "retirement is idling"...and promote MM Lee's notion that retirement means death[Link]. The old folks that are working today were part of an obedient workforce that created the Singapore economic "miracle" in the 70s and 80s when Singapore's economy grew rapidly and the workforce ranked number 1 in the world for more than 2 decades. Today some members of this highly productive number 1 workforce have to continue working in their seventies as the PAP govt takes credit for Singapore's economic success by paying its people in govt the highest salaries in the world and forgets the workforce that made all the sacrifices - a workforce that never went on strike, accepted long hours, worked the 3 shift, took reduced benefits and CPF reductions to keep Singapore competitive.

A few weeks ago, I met a friend who retired after a successful career. He now spends his time with his wife who was retrenched a year ago. The couple have 2 children and are looking forward to having grand children. He told me that retirement is the best part of his life which was "quite stressful" when he was climbing the corporate ladder. He told me he finds those articles that criticise retirement by calling retirees "time wasters", "idlers" and "useless" very insulting because he feels they are directed at him asking him to give up the best part of his life. The real tragedy is so many Singaporeans who have worked hard all their lives are forced to continue working when they are aged employed in menial jobs for very low pay. The PAP govt is trying its best to deliver this "work until you die" future to ordinary Singaporeans by asking you to be "better, faster, cheaper"...... and "work forever"....


stray cat said...

I'm very sad about the elderly who clean my table. I try my best to be polite to them and say thank you after they've done their job.

Anonymous said...

50 years old already cannot find a job. When u apply for jobs, the HR is going to laugh at u and give u sarcrastic remarks.
How to find a job.
Only add salt to injuries.

Sgcynic said...

An ultimate failure of the PAP's policies and system.

Anonymous said...

Actually when we are young, we should study hard and get a good job. When we have a job, we should then save as much and as early as possible. This can be done by living well within one's means and no drinking, smoking, gambling or womanizing. Or don't even buy a car. Then we can even retire at 50 years old by living a simple life (ie spend less than $1K per month at today's value, do simple exercise, eat simple food, etc)for the rest of our mobile life.

And before we get incapacitated or immobile due to old age or illness, move into an old folks home. Or a retirement village, if there is one, here or overseas.

Or don't get married so can save even more. Because nowadays you cannot always depend on your children to support you in your retirement and old age.

With this approach, I think we don't have to care about what the gahmen or whoever says that we must "never retire".

In Singapore, to have peace of mind, one should learn to take care of one's welfare throughout one's life. Don't expect welfare handouts from gahmen, charities or whoever. And no point whining and complaining because it gets one nowhere. said...

Now even in Germany, politician are talking about retirement at 67, but at least, once they reach there, social security takes care of the rest.

PAP offered nothing except the robber CPF system. We can forget about CPF as retirement savings. PAP is always coveting CPF whenever there is something inside so that HO CHING can go back wall street casino.

Over the years, our CPF interest rate is 2.5-3.5% but inflation hit 4-5% even on official data. We are systematically abused.

Other than that, you can use CPF to buy property. Now a 99 year HDB cost $400 000, wiping out 2 working class couple for 30 years assuming median income is 2400. said...

We have a retirement CPF fund but this will not work. The problem is Singapore, though having the highest saving rate in the world-- the rapacious government keeps going after our saving whenever there is some surplus.

And hence we have our fantastic HDB price, expensive public transport, health care and power bill.

If that is not enough, government will print monies to inflate away our CPF saving, helping useless Temasek and GIC to recapitalized.

At the same time, we brag they are talent and Singaporean are lazy stupid and ungrateful.

Anonymous said...

It is true that the young today are much worse off compared to the young 20 or 30 years ago.

This is due to the cost of living increasing very much faster than wage increase.

So the young today may have greater difficulty saving, getting married, buying a home, having kids and retire.

The only thing good now is that due to technology advances, they have laptops, mobile phones, plasma TV, MRT, etc, hence more convenience and better quality of life in this aspect, compared to the young decades ago.
Also maybe more of their parents are well off compared to those decades ago.

Anonymous said...

The following is a good Youtube on why we can never retire.

Anonymous said...

If I get paid 3million+ a year, I also dun wanna retire la.

Don't Vote As I did said...

"The old folks that are working today were part of an obedient workforce that created the Singapore economic "miracle" in the 70s and 80s"

These are the same people who have obediently voted for PAP, and who will continue to obediently vote for PAP for years to come.

"the workforce that made all the sacrifices - a workforce that never went on strike, accepted long hours, worked the 3 shift, took reduced benefits and CPF reductions to keep Singapore competitive."

These are the same people who have sacrificed not only themselves, but also their children and grandchildren in order to please their PAP masters, without gaining anything back in return!

Indeed, these are unrepentent, sadomasochistic assholes! Don't believe? Go talk to these old folks - most of them still support PAP!!!!

I hope they can all go watch this HOKKIEN SONG/VIDEO (Elderly Singaporeans: "Don't vote as I did!") to wake up their nonsensical idea! Wake up, you old folks! WAKE UP! Stop destroying the lives of us young people and our children, you selfish ignorant sadomasochistic obedient ever-ready-to-sacrifice old men and women! said...

We need to revamp CPF. I propose, CPF interest be adjusted annually.

The adjustment must factor in increase in essential commodities like oil, gold, housing, to fully compensate loss in purchasing power.

Alternatively, CPF can be give option of buying 100% good, which is a hedge against anything.

But I do not think PAP will implement this. It simply block them from using CPF as their piggy bank.

I am convicted now that the interest of PAP is against the well being of Singaporean.

Anonymous said...

basically, the gahmen recognises that most singaporeans do not have the means to retire gracefully. hence the need to brainwash these daft digits into lifelong working.

when i first started working, i was told that the holy grail of a work is to attain financial independence. i find it irresponsible of the gahmen not to educate the people on FI, but to insinuate that working lifelong will provide for your needs in old age. we know this is not necessary true. at SGD600 a month, most elderly work for subsistence living only. said...

Sorry Typo
Alternatively, CPF can be give option of buying 100% GOLD, which is a hedge against anything.

Singaporeans count too! said...

Anon 20:43
"And no point whining and complaining because it gets one nowhere."

Not true. All the "whining" and complaining will get us somewhere - it will help influence and amass enough people to vote against PAP and boot it out! Towards this end, we should all complain and put our complaint into practice in the coming election. But if elections cannot work under PAP unfair rules, we should go the non-violent civil disobedience way. Remember: SINGAPOREANS COUNT TOO!


smoos said...

My understanding, the latest Ginni index for Singapore is 13% and in Taiwan when the Gini index reach 6% this year the politician is very concern. Did our Government ever concern about this index. But If the index is correct than it's impossible for most of singaporean to retire even in very old age.

Anonymous said...

Hv the highest saving rate in the world, but many people still cannot retire when they are old.
Hv one of the best educated population in the world, but many educated people can not even earn a decent living. How to retire? Education has become uselesss (worthless)?

Anonymous said...

It is now very clear that the opposite of what the papist Leegime strenously pushed is the better way forward for Singaporeans. The papist ideology is to work and stress the Singaporeans till they don't have the time and energy to take them on. I have read some of the latest medical studies which confirmed that those who retired early lived longer, healthier and happier lives. All those anedoctal incidents of people dropping dead the moment they retired are very rare. LKY is perpetuating lots of falsehood in order to justify his own selfish weaknesses.

JRT said...

noticed that the govt is actively asking Singaporeans to donate, and how poor and how sad the elderly in the Home are? Why should Singaporeans shoulder the burden of taking care of the old and aged? For every dollar that we donate, how much is the govt contributing? Yet Singaporeans are still so gullible and donate...

Anonymous said...

PAPies have always imposed a "You Die Your Business" mandate on Singaporeans. What's new?

There's just gonna be more & more suicides. Another fellow bit the MRT wheels at 12:45am on Sunday 19 Sep.

99.999% chance that PAPies will pass Act thru parliament by 2020 to allow euthanasia. Not just for terminal illness, but also for those above 65 and not enuf money.

Anonymous said...

@anonymous 20.43 plse read what you wrote again. what you describe is not Life. it is Existence!! and existence at the very edge. i would rather be dead if that was my lot. you should try what you suggest and rate it for liveablity.

you would hardly be able to perform at work if you were putting yourself through such a miserable existence, devoid of anything that can be remotely described as pleasureable.

and at today's wages and cost of living, do you really believe one could retire at 50? esp at today's median wage?

do you really think there would be any money left after you paid off your hdb flat? do you really think living in a six-bed room in an old folks home is enjoyable?

what on earth are you smoking or snorting?! do you have a brain?

Anonymous said...

They are subtlely pushing to create a norm of working till old age. In times to come, if you do not work till old age, then it is you who have problems - e.g lazy, choosy, cluth mentality, etc, etc, etc. What else can you expect from our papers.

Anonymous said...

On the one hand, they ask u to work, on the other hand, most jobs have been taken up by FTS, and very few want to employ older people.
When they employ u, they consider it a great favor to u, and expect u to be very cheap, work long hours and work very fast.
Older professionals cannot get a decent pay, and hv to work as a very low level workers, even if they are willing to work.
Where is the opportunity for the locals?

Anonymous said...

it is really sad to see elderly singaporeans cleaning table at hawker centres competing their jobs with indo or chinese FT workers.
Its even worst when I see the elderly hopping from table to table at hawker centre eating leftovers.

Anonymous said...

Shameful what is happening in Singapore. Other countries should beware and take note of how authoritarian type govt behave when the country becomes rich.

Anonymous said...

I do not know whether you or any of your readers can help. There is this 80 plus years old (at least look like 80 plus but not sure of her age)lady working at the Funan food court She is there to clean tables. I asked her why at her advanced age woth not so agile movement, she still need to work. She replied that she needed to eat

I gave her $50 as that is what I can afford as I am out of work the last 10 years. Do you think anyone can help her?

Alan Wong said...

The 'never retire' message is meaningless if the PAP govt is so calculative and vindictive.

Some civil servants are no longer wanted when they hit retirement age. Some of them are even removed if they ever dare to go against the govt.

And how many civil servants are really there working in our PAP Govt who is aged 70 and above, no contract but his job is guaranteed until he really kicks the bucket ?

Maybe if our PAP govt show us the actual statistics that there is really only one such person and he is actually the same person advocating the 'never retire' message who also happens to be the father of our PM, what does it tell us about this govt ?

A hypocrite and self serving one ?

Nepotism of the highest standards ?

A selfish and small minded, one as one Minister puts it ?

Anonymous said...

Good issue for GE rallies by opposition.

Anonymous said...

For the elderlies and sick, accept the fate bestowed by the regime. However, for the young, time to look after your immediate futures before it is too late. Wat plagues the older generations will affect you even quicker and earlier. Parents and even grandparents should remind and prepare your offsprings to leave Sin.

Anonymous said...

Do you people know how much money we can save by getting rid of all the senior and mentor ministersit not.
Is it not ironic and moronic that the government is preaching productivity and yet the same time needs so many Ministers to help the Prime Minister do his job. Technically we have been counter productive as we progressed. Perhaps to justify they own selfish interest the government is now preaching everyone not to retire.

I believe their salries combined is more than the money set aside to help the needy. Productivity my ass.

Anonymous said...

@Anon 20:43

Are you human or animal? With this sort of mindset I think better not to live any longer. Living for survival is not life as a human being, which most animals like chickens, pigs and wildlife are doing. Don't go around spouting this kind of nonsense.

The PAP's agenda is very clear, i.e., bring in more MNCs and cheap labour to support these MNCs, plus new foreign talents as citizens and PRs. Locals who can compete and are successful will be happy, and those who fall by the wayside have to find a way out. This is a dog eat dog world and PAP's Singapore will weed out such people (read failures) and import new blood to improve the gene pool. Animal Farm in real life.

If Singaporeans are as foolish as Anon 20:43, then PAP will govern Singapore infinitely with. Who cares about the FLAG and what it represent or the SINGAPORE PLEDGE? These are just tools of convenience and not truly what most of us were taught to believe.

Citizens were herded into schools like sheep, males do NS as a cheap form of security and defence and all form part of the workforce. Unfortunately due to someone's stupid ideas a long time ago, they had problems with not having enough newborns to replace the ageing population. Hence new ideas from new leaders had them allowing new citizens and PRs to fill the gap plus increase the population.

Either you subscribe or disagree with PAP, is your choice. Be part of the system or choose not to. Be reminded however, should you fail, then you will be working until you drop dead and your family will be badly affected.

Anonymous said...

Everybody bears primary responsibility for their own welfare. Don't ask other taxpayers to pay for your comfortable life or minimum standard of living. Nobody owes you anything.

Get on your bike.

runroad said...

I must say read this article with some despair. No country in the civilised world treats its pensioners as badly as PAP is doing to Singaporeans. The last time I saw a helpless elderly lady beggar was in Ho Chi Minh City more than a decade ago and such people were few and far between. Just look at the number of our old folk bent over with age and infirmity but still being forced to slave in toilets and dustbins to survive. It's sickening. Would you want your mother to be doing this at 70? They're everywhere you look, everywhere. It's a complete and utter disgrace. What's the point of being a rich nation if this is the bloody end result?

Why aren't you all boiling mad with rage and furious that you are being treated with such contempt? Why do you let those bastards sitting pretty at the top treat you worse than sh!t? They spit at you and you say, 'thank you very much'??? Why do you let them squeeze the very last drop of blood from you till you throw yourself off a building in desperation? You should be spitting blood but I get no sense of anger, just quiet resignation, as if this is your fate and you must accept it. What law says you have to put up with this crap one moment longer? What law?

C'mon people, it doesn't have to be this way. For God's sake don't just sit behind your PC complaining. Get off your arse and DO something if you want any sort of decent future for your family. The SDP is holding a pre-election rally at Hong Lim Park on Saturday 25/9 @ 5 pm. Please, please, make an effort to attend. Bring the whole damn family if possible.

Who cares whether or not you support that party? Whether you will vote for them or not is irrelevant. The point is to send a loud and unmistakable signal to the FAP - to scream to the emperor in his ivory tower that ENOUGH IS ENOUGH! Only when they see the thousands upon thousands turning up at opposition rallies will they begin to get the kind of message that they cannot ignore or censor.

If you can't even make the effort to stand up for your rights, if you're too scared to take even this small step, if it's all NATO with you, then I'm afraid we're truly done for. Will the last true-blue Singaporean please turn off the lights on his way out, thanks. said...

The pre-requisite for some form of social security is progressive and equitable taxation.

During the 70s, HK's tycoon, those rascal such as Li Ka Shing, Henry Fok, fought successfully to resist London's pressure to increase taxes in order for social security. They resist attempts to democratize HK as well.

Singapore taxation model is similar to HK. Budget cannot even be balanced under current system unless supplemented by ever increasing land sale revenue.

But again, there are too much new imigrant nowadays that we will be broke if we want to increase social spending. We be better if we take in far fewer migrant.

And increase Taxation will hit our role as tax haven which could hollow up banking industries.

The damage cannot be easily undone. In short, LKY already screwed us forever.

Anonymous said...

Singaporeans are so easily intimidated that serial numbers and IC Numbers appearing on their voting slips could scare them stiff.

They are so afraid that if they voted oppositions, they will be picked for disriminations and targetted for 'repercussions' in their carreers, on their families and anything imaginable. Voters must remember that they are 'compel'(read compulsory) to vote, but, in non-contested wards, compulsory magically disappeared, no need to vote lah!

In the Last Election, Potong Pasir and Hougang were won by Oppositions and overall over 33% voted Oppositions. IF THE (IMAGINED)FEARS OF THE ELECTORATES WERE REAL, HUNDREDS OF THOUSANDS OF SINGAPOREANS WOULD HAVE BEEN IN BIG TROUBLE. So please do not frighten yourselves(voters) because of stupid rumour mongers.

Voting is mandated as the Right to choose your leaders, it is PERFECTLY LEGAL and LAWFUL TO CHOOSE ANY CONTESTANT.


Hopefully, the SDP Representatives will speak in Mandarin, Malay and dialects as much as possible. Let's join Runroad there on 25 Sept at 5.00 pm(1700 Hrs).


Anonymous said...

Reason why people get upset in other countries when the retirement age is extended is because their pension payment would get delayed. In Singapore only the ministers and high offices are on pension scheme and their official retirement age is still 55! Singaporeans were convinced by them that CPF was a better system. But they keep their own pension scheme anyway -- why?

Anonymous said...

hmm i m a mother of 3kids aged 1-6. has a degree n work as an engineer.i had to employ a maid so tat i could work to earn a miserable salary of only $2900.. i hoped to retire by the age of 55 before i was married.. but now.. that is really a dream hard to live in or achieve..

JRT said...

To Anon dated 01/09/10 at 09:42

There are many elderly in Singapore suffering the same fate. While they have my sympathy, how many can one help? How long can one help?

It takes 2 hands to clap. Singaporeans have themselves to blame, and the govt know how to squeeze that out from us. Otherwise, PAP would not have been winning for some many terms. While MM Lee says there is basically very few things he doesn't know about Singapore (or Singaporeans), i think he means what he says and he does walk the talk

Despite all the coffeshop talks and internet talk, when election time comes, i believe it is still down to self interest and fear that will get the better of most Singaporeans

dont end up like Malaya communist party also said...

Hi Communist Tan, just because you feel that retirement works for you, doesnt mean everybody must retire at the age you say so.

Like i always say, dun impose your idea of a utopia life on others. By fanning flames of social unrest, i dont see the contribution here. your articles incites unrest, violence and anarchy.

The people had made their choice in the previous elections. they like the policies and despite its imperfectness, it is the one we choose.

Stop your seditious comments immediately.

Richard said...

Anti-PAP does not mean seditious.
The PAP govt has gone so far off that it is losing the support of many Singaporeans. Let's see how the next elections go.

Just because the mainstream media keeps blaring the same pro-PAP garbage does not mean Singaporeans are supportive of the PAP's policies. The PAP is in for a rude shock this time.

Anonymous said...

Anon 20/9/10 01:32 and Anon 20/9/10 12:22

If you are very capable and earn or have lots of money, go and retire and live like a king lah. Nobody ask you to live the miserable life like what Anon 20.43 described.

But if you are not, nobody is going to sponsor you the good life that you want. Unless your daddy is rich and willing lah.

What's the use of cursing other people and their views? If you are teenager I don't blame you but if not, please grow up.

Anonymous said...

If u enjoy your work, then don't retire. LKY obviously enjoys his work so much that without it he will drop dead.
If u don't enjoy your work, then the moment u can afford it, the better option is to retire to do what u enjoy. In this way u lead a happy life. Most likely u will have a quality and longer life.
If u don't have enough then there is little choice but to try to work till u drop dead.

Anonymous said...

PAP wants us to never retire? Sure! But first they better close down CPF board and return all our retirement money. CPF has become redundant when we are now expected to work till death. Why demand every citizen contribute to cpf while making it impossible to retire?

You can't have your cake and eat it.

Clear eyed said...

And now Lucky is branded a communist, accused of inciting "unrest, violence and anarchy"
and ordered to shut up. Lucky, what you have achieved is impressive! You are able to incite "unrest, violence and anarchy" without a single inflammatory word or violent metaphor.

Anonymous said...

The PAP are the baddie communists. look at how they fratenize with the commies in china recently.

ILMA said...

Do you know which demographic class in the US represents the highest source of entrepreneurship? We typically believe it would be probably the young fresh graduates. In fact, we could not be more wrong. Its actually the retirees which form the single largest group. Sure, the ventures formed are typically not your Google or Facebook, but in terms of new SME creation, retirees actually represent the most important source of entrepreneurship.

In this sense, let us recast MM Lee and the PAP's exhortation that Singaporeans should not retire. It seems then that we fail to see what retirement really means. Retirement is not about cessation of economic activity -- rather it represents a stage in life whereby the collective efforts of the previous years of work have afforded the retiree an opportunity to pursue endeavors of his interest, without risk or threat to his (and family's) livelihood.

Anonymous said...

19.15pm post.I dont think Lucky is forcing all to retire. Example, for you, if you choose to work till you drop, it is perfectly ok. To each his own. So sit down and shut up!

Anonymous said...

Don't retire OK.
We are too happy not to retire if we can find a decent job with decent pay.
But there is very few such opportunity. This is not possible currently even for older people with good education & high qualification.
So what are u talking about "not to retired"??
Many are "forced" to retire not by choice!!

Anonymous said...

I think many contributors here missed the point. What Lucky is trying to point out is, in a rich/developed country like Singapore, elderly folks clearing tables/cleaning toilets or selling tissue should not be a common sight. Yes, even in the richest, most socially equitable countries, there are people who fall through the cracks. Unfortunately, in Singapore we see these old folks almost everywhere we turn. These are not people who are working to kill time. They need to work to eat. In most developed countries and many developing ones, retirees remain active in the workforce by choice. How can we claim to be a developed country when so many of our countrymen are surviving at subsistent level? I don't expect all those PAP cronies to empathise. They are a priviledged lot and feel that these people deserve what they get. The fact that the rest of the population think the same is very disappointing.

Anonymous said...

I would say that one of the reasons of this is the result of globalisation,but not as PAP usual bullshit of WHAT TO DO?BLAME GLOBALISATION!That is exactly like the game that our great MM Lee played,all our mothers,sisters would become maids,I observe that not even one PAP MP picked up this threat,as they know as well as we do,it is LKY's bullshit when he got high.

ON the other hand,it is fair to say that PAP extrem right policies have caused the highest GINI in the developed world and the biggest no of foreign multi-millionaires in little red dot of LKY.

Singapore citizens,you have a choice,when LKY wants to team up with Yale to set up LIBERAL arts college in Asia,I am certain that in the coming election,PAP would watch its steps very carefully.

The threat of communists,racists,inciting violence would be less and only by those PAP anonymous small flies but not the internationally known ministers,not to mention our globally well known and respected elderly LKY

Anonymous said...

I'm 52 and looked forward to retiring and engaging in consavation work in a more active way. Unfortunately, this is highly unlikely as many have pointed out here that most of us will not be able to retire to a financially independant life. Not that I'm poor, but that most of my savings are locked up in the CPF. Like exclusion rules for casinos, I think the gov should allow investors with good track record to manage their own CPF savings after retirement. There is no reason for the gov to have a blanket rule preventing people from taking out their CPF money, which is their own savings. dt

Anonymous said...

I have a post graduate degree but was forced to retired at 50. After that you get humiliated by 30 plus age old HR managers who asked you to be an entrepreneur instead of joining the workforce. The dump guy obviously dont know what he was talking about as not everyone is suited nor have the resources to be one.

Anonymous said...

It should read dump ass not guy.

Anonymous said...

@Anon 10:05

"It should read dump ass not guy."

Shud be dumb ass (dump as in dump truck whereas dumb as in stupid).

Anonymous said...

@Anon 20:58

If you are want to live like an animal go ahead as no one stopping you. Guys like you who encourage people to accept this kind of life are losers, resigned to their fate. Pointing out the Anon's fallacy that this is what life should be is not cursing, but telling him to wake up and fight. You need to wake up from your slumber too.

Anonymous said...

"The pre-requisite for some form of social security is progressive and equitable taxation."

von hayek

instead of tampering with income or corporate tax rates, consumption can be taxed slightly higher. If GST is increased by just one percentage point, it would increase tax revenues by $800 million! surely that would be adequate for the poor and needy. (unless you wanna hand out doles to unemployed folks too. now that would break the govt's back!) said...

Re Anon 21/9/10 12:28

GST is inherently unfair as it target mostly the middle class. The best form of taxation is a simple progressive income tax.

The current PAP regime is destined to implode. Even ultra market fundamentalist would have to agree that for DEVELOPED economy if the rich produce $100 of goods, they must give the poor $100 dollars to buy.

If you produce $100, and pay the poor only $10, your system gonna implode unless, you follow either the schumpeter way or the Malthus way.

I think some form of progressive taxation is necessary.

However, LKY did something many economist never dream of. Instead of further developing our society to a more advance form, he brought in many rug FT from elsewhere, regressing our system considerably.

His damage cannot be simply undone without pain. said...

During the 50s-60s, Western countries has gone into Utopia with high progressive taxation and equitable income distribution.

France unemployment in 60s is somewhere around 1% compared to 10% today.

But the rich are not happy. So jobs were transfer to SE Asia and later China. Trade a is great engine of leveling. Once you trade with a under developed economy, you will tends to regress to their level and they tends to advance.

Social equality can be done, fully manifested by the western elites. Unfortunately, PAP has only shit and lies and I believe they want to bring us back stone age.

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Anonymous said...

Dear Von Hayek

The pre-requisite for some form of social security is progressive and equitable taxation.

Lucky is a Millionaire.
A equitable taxation will hit him in the region of 40%!!!
I think Lucky is with PAP on this.

DanielXX said...

This is one of the key grouses that I have with our system. Our elderly are the ones who built up this country and now they're being treated like shit in their twilight years. Telling citizens to be more charitable is absolving their responsibility altogether, when they can overspend on ego trips like Youth Olympics. It appears Singapore has taken the concept of meritocracy to the extremes: the positive side of meritocracy is that the smartest rise to the top, the negative side is that once they grow old and waste away, the state casts them aside.


Anonymous said...

their bonus should be tied to interest rate in CPF. their basic pay should be based on average pay of a singaporean.

Anonymous said...

I really do not mind working as long as I could. I see a lot of elderly people at my neighbourhood who sits at those benches all day long & not knowing what else to do. I agreed with the comment posted by anon 19/9/10 20:43. However, getting married & wanting children is something personal. You can still start your own family provided your spouse share the same idea as yours. As for elderly parents, they should always be independent & don't think of relying on children. Those stupid ads talking about fillial piety are so useless. People lose their jobs in their 40s nowadays. How do you expect your children to take care of you when they no longer earns an income themselves.

Anonymous said...

majority of you voted for the existing system
and this is how the elites of the system think of what older pple should do when they get old

you die your biz

it WILL NOT change if you continue voting the same system



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Nelsonjhdx said...

@Anon 10:05 "It should read dump ass not guy." Shud be dumb ass (dump as in dump truck whereas dumb as in stupid).