Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful!

[JohnTan]

I disagree with Mr Francis Cheng's response ("What rich Singaporeans should do"; Dec 14) to the new study on the spending patterns of high-net-worth individuals here ("What rich Singaporeans want"; Nov 24).

We should feel happy that the rich are willing to spend on luxury items. The reason is that their spending creates job opportunities for people in all fields, especially the service industry.

If the rich are frugal and hoard their wealth, it is bad news for the economy and for the people.



We need to be able to see the overall picture in the right perspective in order to be happy.

For example, if we see many sports cars out on the roads, it shows that the country is full of opportunities.

Sim Lim Onn

http://www.straitstimes.com/forum/l...medium=Social&utm_source=Facebook#xtor=CS1-10

 

[xebay11]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

Your small money is not needed or wanted.

 

[biondi]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

When rich people spend, they contribute a lot of GST. They are the reason why majority of Singapore pay little or no income tax.

 

[yellowarse]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

Bollocks. Buying Prada bags and Ferraris and private jets does not lift the lot of the poor. How many factories are there making these super-luxury items? If anything, these are usually manufactured or assembled in 3rd World countries using sweatshop labour earning slave's wages, further entrenching the rich-poor divide.

Trickle down has been proven to be a myth. Study after study has confirmed it. Only TS and Sam have their heads firmly buried in the sand, thinking that rich spending will make everyone better off.

The embarrassing truth about trickle down

 

[JohnTan]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

Bollocks. Buying Prada bags and Ferraris and private jets does not lift the lot of the poor. How many factories are there making these super-luxury items? If anything, these are usually manufactured or assembled in 3rd World countries using sweatshop labour earning slave's wages, further entrenching the rich-poor divide.

Trickle down has been proven to be a myth. Study after study has confirmed it. Only TS and Sam have their heads firmly buried in the sand, thinking that rich spending will make everyone better off.

The embarrassing truth about trickle down

If people like my wife and daughter do not buy Prada bags, the workers in the sweat shops would have no jobs, no income. Be grateful!

 

[xebay11]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

If people like my wife and daughter do not buy Prada bags, the workers in the sweat shops would have no jobs, no income. Be grateful!

You buy fake from taobao issit? Sweat shops?

 

[syed putra]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

Globalised world, the rich can connect with everyone with their ideas, so make multiple times more than say 30 years ago. The losers, will just have to whatever they offer. Google, facebook, BYD electric cars and buses etc.

 

[yellowarse]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

The trickle-down is a myth because as corporations get richer, and the top executives and major shareholders get richer by proxy, wages get lower, since corporations always chase maximum profits by driving down wages. Their spending on high-end luxury goods don't touch the lives of poor people since these are usually produced in very small numbers. They also tend to drive up the prices of goods like food, household necessities and property, causing inflation, which hit the poor hardest.

The following Fed Reserve chart confirms the trend of falling wages (red) with rising corporate profits (blue):

 

[greedy and cunning]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

We should feel happy that the rich are willing to spend on luxury items. The reason is that their spending creates job opportunities for people in all fields, especially the service industry.

If the rich are frugal and hoard their wealth, it is bad news for the economy and for the people.

no wonder sillypootians are fucked
the Pee and Pee cheebyes have been hoarding money in every depts.

one cheebye had the temerity to retort :
sillypootians want to eat in hawker centres or restaurants
treating the hoarded money as if it was his own.

 

[mojito]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

The trickle-down is a myth because as corporations get richer, and the top executives and major shareholders get richer by proxy, wages get lower, since corporations always chase maximum profits by driving down wages. Their spending on high-end luxury goods don't touch the lives of poor people since these are usually produced in very small numbers. They also tend to drive up the prices of goods like food, household necessities and property, causing inflation, which hit the poor hardest.

The following Fed Reserve chart confirms the trend of falling wages (red) with rising corporate profits (blue):

And the government gets richer by taxing corporations and rich executives. And the money all goes back to Singaporeans, you see?

 

[Wunderfool]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

Sad but true.

That why the PAP has to bring in the rich to help sinkie losers.

It is called creating the downstream wealth multiplier effect.

 

[JohnTan]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

The trickle-down is a myth because as corporations get richer, and the top executives and major shareholders get richer by proxy, wages get lower, since corporations always chase maximum profits by driving down wages. Their spending on high-end luxury goods don't touch the lives of poor people since these are usually produced in very small numbers. They also tend to drive up the prices of goods like food, household necessities and property, causing inflation, which hit the poor hardest.

The following Fed Reserve chart confirms the trend of falling wages (red) with rising corporate profits (blue):

Food prices will always go up as long as food production lags behind population growth and the overall rising incomes of the people. When people have more money, they spend more and demand for better quality foods increase. In Singapore, there are so many coffee places that serve $5 coffee. Sinkies are willing to pay that sort of money to drink kopi instead of the usual $0.90 - $1.50 for much cheaper kopi at the coffeeshop.

People like me when we get richer, we also eat out more often, take more vacations and buy more stuff. This leads to more jobs for serfs like you.

 

[lifeafter41]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

Food prices will always go up as long as food production lags behind population growth and the overall rising incomes of the people. When people have more money, they spend more and demand for better quality foods increase. In Singapore, there are so many coffee places that serve $5 coffee. Sinkies are willing to pay that sort of money to drink kopi instead of the usual $0.90 - $1.50 for much cheaper kopi at the coffeeshop.

People like me when we get richer, we also eat out more often, take more vacations and buy more stuff. This leads to more jobs for serfs like you.

I think we need to define on what is meant by mega rich versus the middle class as mentioned.
You and your family are probably in the middle or upper middle class, maybe asset at below 10kk. That is well off but not rich, those rich ones are those with 20kk investable asset, excluding primary residence. While those truly rich are those with 100kk and above.

We are not even talking about 5 dollars coffe here for the truly rich for they don't even compare 5 and 90 cents coffee......

 

[xebay11]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

Food prices will always go up as long as food production lags behind population growth and the overall rising incomes of the people. When people have more money, they spend more and demand for better quality foods increase. In Singapore, there are so many coffee places that serve $5 coffee. Sinkies are willing to pay that sort of money to drink kopi instead of the usual $0.90 - $1.50 for much cheaper kopi at the coffeeshop.

People like me when we get richer, we also eat out more often, take more vacations and buy more stuff. This leads to more jobs for serfs like you.

Nothing compared to me who have multiple properties and collect rent and squeeze tenants and spend this money back to the economy. Yours is pittance compared to landlord's money. Every term increase rents so that I can get to spend more, so that serfs like you can get foreigners to work for you but people like me squeeze money from them.

 

[winnipegjets]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

I disagree with Mr Francis Cheng's response ("What rich Singaporeans should do"; Dec 14) to the new study on the spending patterns of high-net-worth individuals here ("What rich Singaporeans want"; Nov 24).

We should feel happy that the rich are willing to spend on luxury items. The reason is that their spending creates job opportunities for people in all fields, especially the service industry.

If the rich are frugal and hoard their wealth, it is bad news for the economy and for the people.



We need to be able to see the overall picture in the right perspective in order to be happy.

For example, if we see many sports cars out on the roads, it shows that the country is full of opportunities.

Sim Lim Onn

http://www.straitstimes.com/forum/l...medium=Social&utm_source=Facebook#xtor=CS1-10

Do you know why sinkapore doesn't keep consumer spending stats? Because consumption is so insignificant to be a economic driver here! PAP tried to import lots of rich foreigners here to boost consumption. Yet, consumer consumption can't be an engine our economy.

 

[frenchbriefs]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

And the government gets richer by taxing corporations and rich executives. And the money all goes back to Singaporeans, you see?

um singapore is a tax haven,we have the lowest tax rate in the world among first world countries.

 

[Boliao]

Re: Rich People Like JohnTan Keep The Economy Going For Losers Like You!! Be Grateful

I disagree with Mr Francis Cheng's response ("What rich Singaporeans should do"; Dec 14) to the new study on the spending patterns of high-net-worth individuals here ("What rich Singaporeans want"; Nov 24).

http://www.straitstimes.com/forum/l...medium=Social&utm_source=Facebook#xtor=CS1-10

I'm not sure what to make of the report. Seriously?! BMW, Tiffany, JW, Calvin Klein,DBS?? These are considered luxury brands??