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2/26/2008

A $6.4b happy mistake

Some said it was pleasantly embarrassing, while some said it was an astonishing surplus. Some even praised it as commendable, far sightedness and prudence. Really? Ask those who have been squeezed out of their few dollars which could buy them another meal. To those who have contributed tens of thousands to this $6.4b happy mistake, they would simply brush it aside as a non event. For those who are adversely affected by it, would they take it as a joke and laugh it off? Inderjit Singh was pointed in saying that all the affordable increases have contributed to a projected $.07b budget deficit to a $6.4b surplus. But some offered that it was all because of the adjustment of the value of housing. It seems that it is very difficult to understand how a little affordable increases here and there when added up can become a little mountain. Is it that difficult to understand or too tedious to understand? Or is it that such little irritating problems do not deserve to be looked at as they are very time consuming? Better to spend time assessing the benefits of buying a 80ft yacht or a 100ft yacht. Now that is a pleasant problem to spend time on. For those who still fails to see how a few affordable increases can bring hardship to the people and lead to a happy mistake, they should be punished to watch 100 hours of Moses Lim and Jack Neo's comic sketches on throwing a few bits of litter now and then. The moral of these comic sketches is that a little bit here and there will soon add up to become a big big mountain of rubbish. Whether it is a happy mistake or a pleasant embarrassment, the high cost of living is not going away, the GST increase is not coming down, all the affordable increases will remain and the poor will continue to be squeezed. Must be very pleasant experience, like sitting in an Osim chair.

12 comments:

Anonymous said...

I thought they could only make 'honest mistakes'. Now we have a 'happy mistake'. Next we may have a 'calculated mistake' or 'anticipated mistake'. Tinge of 'known unknowns' and 'unknown unknowns'

Anonymous said...

Accumulating budget surpluses is not wrong. The issue is hoarding them. They should return the surpluses back to the people as tax cuts like the Australian government. Otherwise , the money will just go into GIC coffers which will then flow on into the welcoming arms of the BoD of near bankrupt European or American banks.

redbean said...

accumulating money from business or income is good. from tax, got to be careful not to over tax the people.

when there is surplus, good to return to the people. taking some investment decisions and risks are acceptable provided the proper groundwork and due diligence are taken.

and when the investments bear fruit, yes, let the people share the fruit.

Anonymous said...

You can due diligence all night long if you want, but the record of Temasick and GIC investments has been less than stellar. The so-called investments in near bankrupt banks and financial institutions will go down in history as the worst investments anyone can ever make. Why do you think they ahve to constantly think of more and more hare brained schemes to prevent the people from getting their hard earned cpf savings ? It's coz the fund is depleted with all the bad investment decisions made over the years. It is as clear as crystal.

Anonymous said...

the GST increase is not coming down,



i hope it is not cast in stone yet that gst can only go up but not vice versa.

redbean said...

a mistake should be made right. a happy mistake is easier and happier for people to make right.

but would people stick to their guns, decision made, just live with it?

Anonymous said...

Wait long long for them to reduce GST. They will tell you it is time to move on. The extra money collected is meant for bailing out trouble international banks. In the Singapore context, charity begins abroad.

Anonymous said...

Maybe the PAP Gahmen will postpone the 2% GST reduction to the next election and then claim the credit by telling the peasants that the Gahmen is cutting the GST by 28.5%(from 7% to 5%) to help the poor again.

That is the trick!

Anonymous said...

"I thought they could only make 'honest mistakes'. Now we have a 'happy mistake'. Next we may have a 'calculated mistake' or 'anticipated mistake'. Tinge of 'known unknowns' and 'unknown unknowns'"

The ultimate mistake of all for PAP to hype:
Unmistakeable Mistake

redbean said...

you people are being too cynical. but i like that.

it is also good to believe that man is good by nature.

Anonymous said...

What concerns me most is the lack of credibility of the govt men responsible for the shamefully incorrect budget forecast.

Can we trust them anymore. I think every Singaporean have a right to be cynical about the annual budget thing.

redbean said...

it is already water under the bridge. let's move on.

we have bigger issues to tackle.

the next election it would be timely to ask the people if they are better off.