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Not possible for poor S'poreans to live on $1,000 a month - Dr CheeSJ

BuiKia

Alfrescian (InfP)
Generous Asset
Song boh? Dr Chee's letter got published by ST forum.

Why SPH willing to publish his letter har?

IN ITS reply to my Wall Street Journal op-ed ("A new vision for Singapore"; Nov 28), the Government, through its consul-general Jacky Foo in Hong Kong, accused me of not sticking to facts ("SDP's Chee 'dishonest' in calling Singapore model a failure: Govt"; Dec 4).

It stated that, like many other countries, income inequality has increased. What it does not say is that income inequality in Singapore is one of the highest among comparable economies. In addition, this inequality is almost wholly a creation of government policy and inaction.

For instance, while the Government rewrites banking laws to attract high-net-worth individuals from across the world (Singapore has the highest proportion of millionaires globally), it refuses to legislate minimum wage.

And while we are, according to the Economist Intelligence Unit, the most expensive city in the world (much of which is due to land prices controlled by the State), we still have families, to cite the Government's letter, "earning just 1,000 Singapore dollars a month".

The Government asserts that these families are able to afford their own apartment. It forgets that they still need to eat, transport themselves to work, send their children to school, seek medical treatment when they fall ill, and save for retirement.

Singapore has one of the highest household debt-to-gross domestic product ratios in Asia at 77 per cent, steadily increasing from 64 per cent in 2007.

I should not be the one accused of being out of touch with reality.

The Government concludes that I "pander to the editorial tastes of the Western media". For the record, I offered the piece to The Straits Times, but it was not accepted.

Chee Soon Juan

Secretary-General

Singapore Democratic Party
 

yellowarse

Alfrescian (Inf)
Asset
A very good reply. It is a fact that we have the highest income inequality in the developed world, which is not ameliorated by the paucity of social safety nets.
 

tanwahp

Alfrescian (Inf)
Asset
Song boh? Dr Chee's letter got published by ST forum.

Why SPH willing to publish his letter har?

The letter was published on Dec 18. Chee first responded to Jacky on Dec 7. It was only after 11 days that ST decided to carry something by Chee, after the embarrassment of not looking like a free media.
 

blissquek

Alfrescian
Loyal
Dr Chee is the BEST! :smile:

Yes..i find him coming back to his senses...

previously he was the best friend of the PAP..when he sprouts nonsense to the discredit of the opposition..

Now he gives opposition a better name and a better stature.

He is more brilliant than the appointed prince LHL....and will demolish PM LHL in any one to one debate...
 

yellowarse

Alfrescian (Inf)
Asset
The principle cause is the withholding of the CPF !!:mad:

The CPF has failed as a retirement scheme. Period. 55% of Singaporeans cannot meet the Minimum Sum requirements, by the govt's own admission.

The scheme was doomed from the start. Can a cleaner earning $1,000 a month ever save enough in her lifetime to fund her retirement years – 20 years based on today's life expectancy figures – in one of the most expensive places on earth?
 

frenchbriefs

Alfrescian (Inf)
Asset
The CPF has failed as a retirement scheme. Period. 55% of Singaporeans cannot meet the Minimum Sum requirements, by the govt's own admission.

The scheme was doomed from the start. Can a cleaner earning $1,000 a month ever save enough in her lifetime to fund her retirement years – 20 years based on today's life expectancy figures – in one of the most expensive places on earth?

Not at 2.5% interest p.a no.if a cleaner making 1000 a month contributes 360 monthly to CPF,at 2.5% he would have 30,000,at 6.5% he would have 94,000,at 9% p.a. he would have 200,000 at age 65.at 2.5% the CPF will never work and the gov is ripping u off.I would rather put my money in Malaysia's EPF.even with some currency inflation I would still come out ahead at 65.
 
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johnny333

Alfrescian (Inf)
Asset
The principle cause is the withholding of the CPF !!:mad:

No the principal cause is the mismanagement of the CPF. Some parties have became billionaires at the expense of taxpayers.

This was bound to happen because of the existence of Temasek. Temasek is a famiLee business that answers to no one outside of the Lees. The only way we will know the truth about Temasek is if an independant audit is carried out. That will only be possible if the opposition controls parliament.
 

mojito

Alfrescian
Loyal
Lies again from this Chee. Who says Straits Times did not publish his letters? ST has always been impartial and non-partisan. Everyone knows that. The fact you are viewing the letter on the broadsheet disproves everything he said no?
 

Leongsam

High Order Twit / Low SES subject
Admin
Asset
CSJ lives very comfortably on $0 per month so I don't know what the fish he's on about. :rolleyes:
 
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