Cass: December 3, 2013 at 6:19 am (Quote) Let me work out the simple Maths for those who struggle to understand why we have such a huge income gap and an unquenchable thirst for foreigner workers in Singapore. If a company with 1 CEO, 1 office worker and one cleaner (for the sake of simple illustration) will spend $100,000 a month on rent and salaries and rent takes up $50,000 a month, it leaves $50,000 for salaries. If the CEO pays the office worker $3000 and the cleaner $2000, the CEO will earn a salary of $45,000 a month. If the CEO wants more, he/she can reduce the office worker’s salary to $1000 and the cleaner to $800. That gives the CEO $48,200. If the CEO employs foreigners who are willing to work for half that sum, his/her monthly salary will shoot up to $49,100! It is due to a greedy regime that refuses to put policies in place to prevent the rich and powerful from shortchanging Singaporean workers. Many times, the regime is also the same group of rich and powerful. 1. There are no or weak policies to protect workers / employees in Singapore. 2. There is no minimum wage for workers so directors can make as much money on as low wage cost as they so wish (ever heard of Singaporean workers who don’t even earn enough to meet transport and food costs and would be better off not working? I have! If they don’t want to work, there are always foreigners waiting at the side to take over the job for less pay). 3. There is no rule to prevent MPs and Ministers from holding multiple (income earning) directorships, chairmanship etc leading to them working harder for companies than for citizens because the more privileges they give to these companies, the more their own income grow. 4. There is no need for MPs or Ministers to declare conflicts of interests and their interests in companies (as shareholders, non-executive director blah, blah, blah) when conducting public work and drawing up public policies. These end up with a “you scratch my back I scratch yours” scenarios that again end up benefiting the rich and powerful and growing their wealth even more at the expense of citizens. These are my simplistic views to my lay person understanding of economy and politics unless the regime can “educate” me otherwise.
Posted on: Tue, 03 Dec 2013 16:17:42 +0000
Trending Topics
Recently Viewed Topics
© 2015