My Money My Vote

Come the next General Election the people should think carefully on what they want and who to vote to represent them. I will be voting for my money. Who ever is protecting my money will have my vote. I will not be voting for people who want my money and also my vote. The people must wake up to the fact that the money in their CPF/Medisave is their money and no one shall have designs on this money. For too long, people have been quite callous in thinking that the money is there for them to take. In the name of, for the people’s good, thinking and planning for the people’s good, they just go to Parliament and legislate away the people’s savings, to keep the people away from their savings. The next election is the time to put a stop to such haughty ideas and attitude. Let them know whose money it is. And let them know that they should piss off and stay away from the people’s money. Watch Parliament and see which MP is still entertaining such ideas. You vote for MPs to represent your interest and protect your money, not to take away your money, no matter how good is the proclaimed intention. Please do not plan the people’s lives with the people’s money. The people will be very grateful if the plans are with public money.


Wally Buffet said...


Isn't public money also our money?

In the end, is any money really ours?

Chua Chin Leng aka redbean said...

Yes, both are our money. One is from taxes and revenue. The other is our savings. Taxes and revenue collected to help us is good. Taking our savings to help us is bad.

Robert Tan said...

I think that many of us who can manage our own money would probably prefer to manage our own money ourselves instead of having someone else "manage" them for us. Come to think of it, there may even be some who may not be able to manage their own money well and yet still prefer to manage their own money. And it's difficult to fault them if it's THEIR own money. Most people will think they can do almost whatever they like with their own money-except for perhaps certain rare exceptions, like using their money in a way that will harm others....

But what about those who prefer others to manage their money for them? Some use fund managers, some use insurers and some use the government. And the costs of asking someone else to manage their money vary. The returns also vary.

Maybe, we should let each one decide for himself how they want their money to be managed and by whom.

What about those "simpletons" who really don't know how to manage their money? (Even though they may think they know how to manage their money)Shall we then force them to get someone else to manage their money for them? (The assumption is this someone else can do a better job at managing the money - true or not is another issue for discussion) Ok-not all their money-but what about a portion of their money? And if a portion, what portion? How big the portion? Or shall we say, it's their money- so let them do what they want with it and if they lose all their money and become destitute, it's their problem.....

Or never mind, if the simpletons lose all their money, since they are simpletons, can't be helped. daddy is here - just call anytime you need help. You are my child, I'll always be there for you.

What if the destitutes were not really simpleton but gamblers of just squandered their money through irresponsible and lavish spendings? Shall we then say, your own fault?

The above issues may be beyond me.... too complex, so maybe supertalents to solve these issues.

On the matter of public money, I also agree that in the wider context, public money is our money.

Must make sure the public money is spent wisely-don't anyhow spend and find that there is a shortfall.

If got shortfall, possible outcomes are:

- raise taxes(GST, income tax, property tax, whatever)

- sell assets, (companies, utilities, infrastructure, land whatever)

- borrow to spend

- draw down reserves

- spend less on other things

- or a combination of the above

All of the above have drawbacks and will affect most, if not all of us, some to a larger extent, others to a smaller extent. The effects are mostly "not so nice" but will probably make this comment too long to elaborate on each and everyone of them. Besides, it may too taxing on my limited intellectual capacity to properly expound on the above points and I may end up only giving a partial picture that could be misleading.

So, maybe some supertalents can do their own explanations to enlighten the rest of us....

Wally Buffet said...

Wa! Money so complicated. Even me, a Buffet also got confused!

Best is to spend, spend and spend and when got no money, no need to worry anymore. Go to CDC, Medifund, MP et al.

Robert Tan said...

Hi Wally

You seem such a nice easy going chap - seems like no worries in life - relax and chill out a bit yeah?! And no need to get too bogged down with life's complexities - pass me the panadol, somebody... please?????

Robert Tan said...

Er, nearly forgot that Buffets are exceptional and special, very few in the world-maybe only one in Singapore so they are "different" from the rest. No money problems - also help others as well with their money. As I said, I have high regards for Buffets...
We must treasure them....Tsk! Tsk!

Wally Buffet said...

Hi Robert,

Yep, Redbean has met me. He knows I am very easy going. Relac man. Life is meant to be lived, not tolerated.

Even if I collect cardboards for a living, life can be good if one is contented and happy.

As the Buddha said:

Everything is transient and I think that includes money!

Wally Buffet said...

By the way, Redbean, when is our next gathering? And Patriot seems to have gone AWOL!

And this occassion, invite Robert too. He is really interesting Bro! His comments sooooo good to read that I am already a fan. Pity he doesn't have a blog. I think if he has, it will do really nicely, same as yours don't you think?

Chua Chin Leng aka redbean said...

Oh let me intro Wally to Robert.

Wally is the Emperor in Lijiang. If you happen to be there, you can pop in to his palace and be treated like a royalty: )

Chua Chin Leng aka redbean said...

Ya, wondering where Patriot is now. We shall get together, and yes, Robert is an interesting guy. You set it up and we can meet up. I am sure Patriot is around and reading.

Others can also join in and we go dutch.

Anonymous said...

if there is a shortfall, most probably they will print more money,inflation.

inflation will eat away your savings and increase rich-poor gap as poor could not protect themselves from inflation unlike the rich who have inflation-hedging assets

Wally Buffet said...

OK. Anyone interested can email me at wallybuffet@gmail.com

Chua Chin Leng aka redbean said...

Talking about inflation and inflating prices, China and other countries are so worried about their asset balloon bursting and are clamping down on liquidity and speculation.

The Americans got the taste of their own medicine in their subprime housing crisis.

What is remarkable is that our geniuses are pumping up property prices and say it is a good thing. These magicians must have something up their sleeves. And the people are so happy and grateful of their high property prices. Better than looking at the monthly CPF statements.

Huat ah!

Wally Buffet said...


Inflation, helped by those foreign Ts(?) that we so routinely sneer at, will also see your 3 room HDB flat fetching 1 million SGD so everyone, well almost, in Singapore is a millionaire! By which time you can retire and buy a "palace" somewhere. Those FTs can have the place all to themselves!

Robert Tan said...

Hi Wally/Redbean

Yours truly comments not so good lah - better don't praise too much in case the head burst or maybe worse, start thinking yours truly is some supertalent but actually just small fry...

Thanks for thinking about including yours truly to "drink coffee". (And I don't mean the "other type" of "drink coffee").

Problem is, yours truly is one of those very "shy" type lah _ takes "forever" before he dares to come out of "hiding".........

Also, "a bit of chicken"....

But thanks for the thought! Maybe someday..hmm... .forever?....Yours truly,

Anonymous said...

I think the government might allow us to manage our own CPF if we promise that we will not cry father and mother and expect to be rescued from the pits due to our own mismanagement.

That is, if Singaporeans are willing to be accountable and responsible for their own decisions.

So far, I haven't found a trace of that responsibility. But instead, we expect to have our cake and eat it too.

That said, CPF is the greatest tipping point for my decision on who to vote, but I can understand why the government has to do that.

Of course, there are conspiracy theories which may turn out to be true, but I feel that the solution is not a blanket withholding of all citizen's money, the responsible or otherwise, nor a free for all but something in between.

Anonymous said...

Broadly speaking "public money is our money" is true.

But in the Sg context, this maxim is extremely perverted.

Let me explain....

If all public money (via all direct and indirect taxes) is spent fully each year, then the above maxim holds true.

But if a significant portion gets kept in the RESERVES, and the taxes continues to be hiked for no good reason (remember the flaky justification for the previous GST hike?), then the excess money collected which is not used back for the people becomes an unnecessary BURDEN on the people.

Worse still, when billions of our money is lost in overseas so-called 'investments' or financial disasters (eg. Shin Corp, UBS, ABC Learning, etc) with no accountability, we are actually staring at a black-hole which will suck in even more of our money unless we, the voters, doing something to stop it. So far, the PAP has not even changed the leadership of those who were responsible for the mega losses, much less step forward to take responsibility setting up the system so that such losses can happen repeatedly.

So, the saying that "public money" is our money is not entirely true in practice. There is actually a whole lot of leakage going on that must be stopped so that our money doesnt bleed into overseas ventures or 'investments'.

Anonymous said...

Public money is your money? You couldn't even catch a smell of what they do with it, let alone try to touch it. Or for that matter, you can't even demand for your rights (human or demoractic) when dealing with your very own money in your CPF account.

Wake up.

Anonymous said...

A favourit quote from Mati-lah:

"You sheepies deserve the Government you voted for"


Chua Chin Leng aka redbean said...

Hi all,

All your comments make sense. In the case of CPF money, we are still living in an era when one size fits all. Why is this the case and still the mindset in decision making?

There are people who are more than adequate to manage their own money. There are those who can't. And it is such diversities and difficulties that we pay the politicians and administrators out of this world salary to do something more than just drawing one straight line. An O level graduate can do that and you can pay him $2k pm and he will be very happy.

To give up and let people do anything with our money is defeatist and irresponsible. If the people do not take responsibility and ownership, do not kpkb, do not exercise their democratic right to vote in the people who will protect their interests, they deserve to be in the shit hole.

The ignorant masses of third world countries are helpless and do not have the intellect to exercise choices given to them. We are more knowledgeable and able to decide what is good for ourselves. No need to place our vote blindly and let other people rule our lives according to their whims and fancies.

Chua Chin Leng aka redbean said...

Oops I forgot. The people shall decide what is good for them and not a few individuals saying so.

Anonymous said...

"What is remarkable is that our geniuses are pumping up property prices and say it is a good thing."

Of course they are remarkable. Our geniuses feel like god when they lose billions with no accountability and responsibility with citizen giving no damn about the loss.

Robert Tan said...

Hehe (I like Wally Buffet's laughter...) - or was that a snigger?

If public money is not our money and is someone else's money, then logically, we shouldn't be too worked up about how public money is spent huh?

After all, not our money what - other people can do what they want with their money.

Ah .... but based on the comments so far, seem like some people do care how public money is spent. Why they so kaypoh one?

Anonymous said...

Very true Redbean. No need to pay high salaries for thinking up simple solutions that almost always resulted in more pay and pay and increase and more increases.

But they always made such simple solutions into very difficult to understand fixes, something like the taxi-fares fiasco.

So, don't begrudge them their inadequate rewards. Watch out when the economy recovers.