middle income earnings

Lag in middle income growth These are the statistics on income per household member per month published in the ST today. 31st to 40th percentile $960 41st to 50th percentile $1180 81st to 90th percentile $3190 91st to 100th percentile $6990 A family of 4 with a $6990 per household income will be getting a household income of $27,960 per month. Not bad at all. What about those with $1 million annual household income or more? The 100th percentile gives the impression that the richest Singaporean earns a household income of $27,960 per month. Off hand I can think of at least a handful of people earning $2 million and above per annum. This will give a per household member income of $500,000 each per annum or more than $40,000 per household member per month. Official numbers in the ST has reported that there are several thousand millionaires in our midst. Looks like all the millionaires are not included in the numbers. Or the numbers are strictly just on middle income earners.

6.5 million in 2030?

The foreign talent and 6.5 million population issue were raised in Parliament. The reply, as often repeated over the MSM was regurgitated. We need the huge population to ensure vibrancy and our viability. We need all the talents that we can get. We need to compete with the giants like China the US and Australia for the rare talents. And our birth rate is slowing down and we will not be reproducing ourselves. Giving this kind of explanations, looks like all the small little rich countries in Europe are destined to perish. And they better follow our example and start a frantic drive to recruit talents for their long term existence. Or is it that they have been doing it and we are following their brilliant examples? The population will decline if we add 8,000 new citizens annually in 2030. So in 23 years time, we will face a decline if we add in only 8,000 new citizens. It was also reported that we attracted 13,200 new citizens and 57,300 prs last year alone. Adding another 35,000 new births, we actually add on 105,000 in a year! Knock off 30,000 death rate, it gives a nett gain of 75,000. At this rate, in 20 years we will add 1.5 million to our population or we will hit above 6 million in 2030! It will be even more if the momentum is kept up at this pace. Is the 6.5 million figure just a planning figure for the next 40 or 50 years? It will be realised by 2030 at this rate of growth. There should be a debate among the planners and intellectuals on the pros and cons on this big leap forward. So far the people are hearing only one side of the story. Without the population growth and foreign talents we will perish. And there were all kinds of assurances that nothing will go wrong and everything will be alright and we will have prosperity for everyone. It is important that the people hear the other side of story before we suffocate ourselves to death. I don't trust sales pitch.

myth 120

No need for caps Napoleon and his friends were having a great time in the animal farm after seizing it from the farmer. They were having a great time feasting and frolicking from the new wealth they they had inherited. Life was good, really good. From the outside, the sheep, the cows and horses and all the chicken and fowls watched in amazement. 'Wow that's what the good life meant.' They were probably wondering why couldn't they too partake in the frolicking and share the good time. One sheep ventured to ask. 'Why no caps?' 'No caps for us, caps only for sheep.' Came the reply. And the sheep nodded and walked away sheepishly.

best 2006 quote

"You know the world is going crazy when the best rapper is a white guy, the best golfer is a black guy,the tallest guy in the NBA is Chinese, the Swiss hold the America's Cup, France is accusing the U.S. of arrogance, Germany doesn't want to go to war, and the three most powerful men in America are named Bush, Dick, and Colon. - Comedian Chris Rock

more attractive estate duty laws needed

With the economy doing so well, with so many millionaires being made, with so many wealthy foreigners being lured to our shores, hopefully to become citizens, our estate duty laws are out of date. Currently the $9 million for one property and $600,000 cash that are exempted from estate duties are too low. A more reasonable and realistic number should be $20 million worth of properties, not limited to only one property, and $10 million worth of cash, would make citizenship or dying here more attractive.