6/29/2006

poor singaporeans getting poorer

Poor Singaporeans getting poorer. The latest General Household Survey shows that the lower 20% household income dropped by 20% to $1,180. And the 30 percentile dropped by 5% to $2,190. Here we are talking about a household's income, the income of two breadwinners. And ironicall the top 10% household income gone up by 14.8% or $16,480. But the survey did not show the top 3% household income. This is very likely to be from $1 mil to $2 mil for a year or probably a 100% rise. Just extrapolating on the incomes of individuals which went up by $1 mil to $2 each. And if the household has two super income earner, the net increase could be $3 mil or $4 mil. But all these are natural, unavoidable and expected as the supertalents must be paid highly or else they will be poached by other MNCs and will be a lost to the country. We cannot affford to lose our CEOs in SIA, NOL, Singtel, PSA etc etc and all the banks to foreign companies.

14 comments:

Anonymous said...

The 40 percentile shows a marginal 0.3% increase and that means 40% of all resident households have not had better incomes since 2000.

More "good" years from PAP. Moving forward together...ya right!

redbean said...

be patient and give the govt time to bring more good years to the people. it has to start at the top first. i think the top 30% of the population are already at the swiss standard of living.

this will gradually be filtered down to the lower segment of society. it will take a little bit longer. but all will get there, a swiss standard of living. now what is that?

Anonymous said...

Something wrong some where lah. The economy has been on the uptrend since the SARS crisis of 2003. So I guess for those whose lives aren't any better, it must be their fault then for not being able to capitalise on the vast opportunities afforded by our rapidly expanding economy. Sounds familiar ? *hiaks*

Anonymous said...

Haiya redbean, why you still harping on the swiss standard slogan ? That conveninetly went into the unachievable bin almost 10 years ago. The premise for achieving that was built on the back of the real estate bubble of the 90s, which we all know the ending.

Anonymous said...

We have one of the highest gini coefficient in the world at 0.52...beating EU, North America, Australia, New Zealand and Japan hands down...another 1st for PAP. This shows that we are also one of the most unequal society in the world in terms of income distribution.

Which miw said that our workers are more expensive than the US?

Anonymous said...

I believe it was Tony 'Bad hairdo' Tan.

Anonymous said...

Of all the miw(s), I have always respected Tony because he was different....that is until he came up with that stupid statement.

abao said...

After all the bonus packages, schemes were dished out, the poor still got poorer......

redbean said...

sorry i did not get what tony said that you are so pissed with.

and yes abao, you anime is flapping quite wildly. : )

the british used to supply opium to the coolies to keep them going and get their little highs when life got too rough.

Anonymous said...

The progress package is a start but it is not the solution. I prefer to "teach them how to fish" rather than providing them with fishes.

Anonymous said...

Why don't they report the TRUTH?

That they open the floodgate allowing foreigners to take our jobs and to depress our pay. Employers are taking advantage of the situation to exploit workers.

How do you account for the unemployment in the lower income sector when the economy is in full swing and aliens in the country continue to increase unabatedly to a million.

redbean said...

for the time being we have just got to believe in the govt. what they said is that what they are doing is good for the people.

you must have faith.

Anonymous said...

Enjoyed a lot! »

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