Foreign talent policy had effect on income gap

[BuiKia]

Government policies to boost the number of foreigners working here may have indirectly contributed to greater income inequality, a panel of experts said on Monday.

The wages of those on the bottom rung have tended to stagnate or even fall in real terms, even as the nation enjoyed boom times, they noted.

Mr Manu Bhaskaran, an adjunct senior research fellow at the Institute of Policy Studies, who chaired the panel, said globalisation and technological change had also led to greater income disparity.

He added that 'domestic policies have unintentionally contributed (to inequality) especially as we intensify efforts to appeal to the global elite and attract top talent to Singapore'.

 

[Leongsam]

The wages of those on the bottom rung have tended to stagnate or even fall in real terms, even as the nation enjoyed boom times, they noted.

If wages for the bottom rungs is too high, the country becomes uncompetitive as a result and businesses will simply relocate to countries where labour rates are lower.

As painful as it may be, the policy of suppressing wages amongst the unskilled and casual workforce is a sound one and ultimately benefits the country as a whole. After all, it's better to be employed in a low paying job than ending up with no job at all when the company that employed you moves out of the country to greener pastures.

 

[Spock]

No job -> live like a rat
Job with low pay -> still live like a rat

Not much of a difference there.

 

[Rogue Trader]

As painful as it may be, the policy of suppressing wages amongst the unskilled and casual workforce is a sound one and ultimately benefits the country as a whole.

That's rubbish. If 5% of the population are top wage earners and the remaining 95% live on suppressed wages, does it benefit the country as a whole?

Countries like Indonesia and India have no shortage of mega wealthy individuals, while there are many many more who will never have a chance to get out of the poverty cycle. I hardly see anything "beneficial" about this.

 

[kingrant]

I suppose it's alright to pay Ministers an obscenely high minimum wage, otherwise the country becomes uncompetitive too.

I believe if we offer 2/3 of what the Ministerial Pay C'ttee recommended to First world leaders, we could still get enough of them to serve in our govt with much less tax burden on the peasantry.

Isnt what is good for the gander good also for the goose?

If wages for the bottom rungs is too high, the country becomes uncompetitive as a result and businesses will simply relocate to countries where labour rates are lower.

 

[Leongsam]

I suppose it's alright to pay Ministers an obscenely high minimum wage, otherwise the country becomes uncompetitive too.

I believe if we offer 2/3 of what the Ministerial Pay C'ttee recommended to First world leaders, we could still get enough of them to serve in our govt with much less tax burden on the peasantry.

Isnt what is good for the gander good also for the goose?

The tax burden in Singapore is very low.

 

[kingrant]

Not low enough. We shouldnt even pay people who are useless. Do you?

The tax burden in Singapore is very low.

 

[Forvendet]

The tax burden in Singapore is very low.

You're devoid of any understanding of the notion and function of taxation. The taxation in Singapore is one of the highest in the world. CPF is social security taxation disguised as personal provident fund account. It's intentional by design to sidestep the principle of taxation the rich more and redistribute more benefits to the poor to adjust to a more balanced income and wealth distribution that would inadvertently precipitate in a capitalist market economy. However, it aggravated it and sent less fortunate and privileged folks scrambling into rat race wheels all their lives. Add GST unto that, half your income is in the hands of the government. How and where you live depend on government policies. Isn't that the same as what's happening in welfare states with so-called high taxation?

What's the difference then? The difference is they call taxation taxation, they call social security social security, they call welfare welfare. In Singapore, all these have become politically dirty words, under the guise of low direct taxation so that there's no social responsibility to society. Then whyfore, do we belong to a society or even country? You have $500k left in your CPF, congrats. You have $50 left in your CPF, too bad, please go to MCYS or CDC and beg.