Professor Lim Chong Yah: Singapore’s income gap approaching dangerous levels

[Leongsam]

Saratogas,

Don't waste your time. He has no real answer to your question.

That's not true. I may not have a magic wand which I can wave in order to make geniuses out of morons but I have dispensed bucket loads of information over the years and some very specific instructions just a few weeks ago.

http://www.sammyboy.com/showthread....pay-taxes-quot&p=989671&highlight=#post989671

Anyone with a bit of creativity, drive and determination can make $$$ on the internet. The genre that you choose and the business model that you adopt has to be adapted to the individual. Those with a passion for writing can blog. Those with software skills can write and sell apps. Those with photography skills can sell photos. photoshelter.com has all the tools and scripts necessary to be up and running very quickly. Those with marketing skills can create on line shops. You don't need to hold any stock. There are tons of affiliate programs out there.

There are no limits. Facebook is now worth about 120 billion dollars and it started with a simple idea. If you can't create a site worth billions, you can still shoot for a valuation of $500,000. It's more than peanuts.

 

[aurvandil]

If you are an Opposition supporter, you should be really happy that the PAP is stubbornly refusing to do anything about the Gini coefficent. LCY's policy recommendations are rubbish but his point about the the danger of the Gini coefficent staying above 0.5 over an extended period is rock solid. The wider the income gap becomes, the higher the chance the PAP will lose elections and be thrown out.

 

[Leongsam]

If you are an Opposition supporter, you should be really happy that the PAP is stubbornly refusing to do anything about the Gini coefficent. LCY's policy recommendations are rubbish but his point about the the danger of the Gini coefficent staying above 0.5 over an extended period is rock solid. The wider the income gap becomes, the higher the chance the PAP will lose elections and be thrown out.

The Gini coefficient means nothing. That's why the PAP isn't wasting time over an index which is of no significance when it comes to running a country. If the poor aren't happy, they should concentrate on boosting their earnings instead of allowing jealousy to stoke their own discontent.

 

[aurvandil]

If the poor aren't happy, they should concentrate on boosting their earnings instead of allowing jealousy to stoke their own discontent.

The CIA empirical studies show that the poor who aren't happy eventually become angry and proceed to implement regime change.

 

[Leongsam]

The CIA empirical studies show that the poor who aren't happy eventually become angry and proceed to implement regime change.

That happens only if they are allowed to stir shit. They should be dealt with firmly at the slightest sign of trouble.

 

[wwabbit]

The problem in Singapore isn't really that the GINI coefficient is low. The worrying thing is that it is continually decreasing. This can only mean that the policies are in place that encourages the high wage earners to exploit low wage earners, further increasing the income equality.

The low wage earners will generally believe that the GINI coefficient is too low and more incoming equality is needed. The high wage earners will always generally believe that it is their earned right to stay ahead of the low wage earners. I can't however imagine many high wage earners thinking that the GINI coefficient should decrease further.

Reversing the income inequality may be a contentious issue, but I think there is an urgent need to put policies into place to stop it from growing out of control like is currently happening, and at least keep the GINI coefficient constant, and something both sides should work together towards.

Unless of course, you are a someone completely lacking empathy.

 

[Kinana]

Does the GINI coef consider that housing for lower income group is heavily subsidised by the govt in Singapore? And most Singkies own their own homes?

Lim chong Yah really needs to retire.

 

[Bigfuck]

Does the GINI coef consider that housing for lower income group is heavily subsidised by the govt in Singapore? And most Singkies own their own homes?

Lim chong Yah really needs to retire.

You really need to get lost. You are not qualified to speak on anything. LCY knows more about the real and fake statistics of Singapore than you do and was involved in creating the statistics. Gini coefficient does not consider subsidies so as to accurately reflect the situation. Those are applied afterwards as to mitigate the problems but do not address the critical issues. No one adjusts inflation figures with subsidies. That is stupid and does not address the true situation. By putting in resources to massage the real figures and present it as if it were the real figures, you fuck yourself and forget that you are eating into resources to address a problem. If you want to see what Gini coefficient above 0.5 will mean to any country in the world, you will really really regret it as your masters will not be able to protect you or themselves.

 

[Kinana]

The houses are real, the subsidies are real, the people are real and living in real houses and the GINI thingy ignored it?

You see how easy it is to counter this Lim CY guy? Professor or no professor, never believe in what anyone say w/o thinking??

 

[wwabbit]

The GINI coefficient not taking subsidies into account makes it not so useful to compare against other countries.

But as I have mentioned earlier, that isn't really the issue. The problem is that, year to year, our GINI coefficient is getting smaller.

 

[Kinana]

If our GINI is getting smaller, that means income distribution is flatter. Wats the problem with that?

 

[Bigfuck]

The GINI coefficient not taking subsidies into account makes it not so useful to compare against other countries.

But as I have mentioned earlier, that isn't really the issue. The problem is that, year to year, our GINI coefficient is getting smaller.

To the supervising officers for PAP IB monikers wwabbit and kinana, better replace the jokers. Trust me, the people sitting next to me indicate, you are losing votes and increasing hatred by insulting intelligent people. Also tell GMS to get lost, we know he is here spewing rubbish.

 

[Kinana]

To the WP supporters.
Based on your debating performance on Sammy forum, you are losing supporters due to your ability to reason and present facts. The whole world can see how foolish you folks are and you can't hide it anymore.

 

[zhihau]

Based on your debating performance on Sammy forum, you are losing supporters due to your ability to reason and present facts.

would the results of the Hougang BE be considered as a good indicator?
mai tu liao!!!

 

[Fook Seng]

Does the GINI coef consider that housing for lower income group is heavily subsidised by the govt in Singapore? And most Singkies own their own homes?

Lim chong Yah really needs to retire.

This model of micro-engineering is never efficient and fully comprehensive. Some will slip through the cracks. Do you want to be given each meal by a caregiver or you have your own sum of money to spend as you wish? I cannot imagine anyone opting for the former unless he has been conditioned for decades receiving exactly that.

 

[eatshitndie]

The CIA empirical studies show that the poor who aren't happy eventually become angry and proceed to implement regime change.

do you actually believe in this cia bs? walk the halls of langley. even the top spooks there don't rely on what is in the public domain. they are published public numbers for a reason. why are sinkies so gullible and naive?

 

[vamjok]

Many rant about the "income gap" but I don't see why it should be a problem in the first place. It can easily be fixing by deporting all millionaires but how that would help any country is beyond me.

that why u are only a host in a porn site sister forum, while he is a prof.

not an econ major, sorry i also dun have the ans

 

[Bigfuck]

GMS, I pity you. You are nobody. WP is not the problem, neither is even SDA or any opposition party. We reason very well. In order to discredit the WP, even LCY is considered a fool by you. So it means all those who used his textbooks are reading from a fool. You just defamed LCY.

 

[zeddy]

To the WP supporters.
Based on your debating performance on Sammy forum, you are losing supporters due to your ability to reason and present facts. The whole world can see how foolish you folks are and you can't hide it anymore.

Well done Kinana.. Don't forget to collect your NTUC vouchers from your PAP MP the next mornin..

<a href="http://s1205.photobucket.com/albums/bb440/zeddy9/?action=view&amp;current=29739-9cqk68_l.jpg" target="_blank"><img src="http://i1205.photobucket.com/albums/bb440/zeddy9/29739-9cqk68_l.jpg" border="0" alt="Photobucket"></a>

 

[freedalas]

The houses are real, the subsidies are real, the people are real and living in real houses and the GINI thingy ignored it?

You see how easy it is to counter this Lim CY guy? Professor or no professor, never believe in what anyone say w/o thinking??

There are no subsidies whatsoever in public housing. The govt aquires the land at negligible costs but factors in the current market cost of the lands upon which the flats are build in pricing the flats. The govt is making big chunks of money from their public housing projects. That is what is really real.