Myth 124 The Govt is overpaid I need to demolish this myth that the govt is overpaid. Simply look at the pay of the CEOs of our local banks, in 7 to 10 millions. Compare that to our ministers, no fight right? Our ministers are really being paid peanuts compare to these bank CEOs. And looking at the things and issues our ministers are doing, they deserve to be paid more than the bank CEOs. For their decisions affect the 4 million people in the island. On the other hand the decisions of the bank CEOs affect only the business people and hardly affect everyone in the island. Perhaps one, when they charged all the cheapskate people who have very little money but insisted on having a bank account. And they were so kind to charge them a token sum of $2 monthly. The cost of maintaining the accounts is very high, expensive buildings, expensive staff, expensive softwares and equipment and expensive CEOs to pay. What is $2? They would rather these cheapskate depositors keep their money in their Milo tins. Back to the ministers, every decision they make, good or bad, will hit the people in one way or another. If the decision is bad, they will suffer the wrath of the people and the bad karmas from 4 million people. They deserve every cent they are getting and more on this alone. The counter argument to this is that they are making all the good decisions that are good for the people and will be amply rewarded by 4 million good karmas. In the Singapore context this is true as all the decisions are for the good of the people. But no one get away from the appointments and titles of the job. These are national appointments. Just like the kings and princes and princesses, they are on top of the heap and must be rewarded accordingly. The king or prince may be born an idiot, but by virtue of their titles, they should be paid more than the commoners. In the case of a government where the ministers have huge responsibilities and are the best of all the talents the country can produced, they must be paid more. Or at least more than the bank CEOs. I rest my case.