Singaporeans highest paid workers in the world...soon

At the rate that we are going, Singaporean workers will soon become the highest paid in the world. Starting from a top down approach, the richness of the rich will soon filter down as we work towards closing the income gap. If employees in the top bracket are earning $4m or more, and if the gap is 1:100, then the lowest paid workers should be getting $40k. Now this must be good. And they need to earn this amount to keep pace with the galloping away cost of living. Every thing is up. So worker's income must also up. Or else how are they going to survive? And the world will envy us and all the workers, especially the talented ones, will be queuing up to work here. We will become the best in everything.

Why begrudge taxi drivers earning more?

There are still many letters to the msm complaining about the hike in taxi fares. I am curious why people are so unhappy that taxi drivers got to earn a bit more from people who can afford to pay more to ride in taxis. And there are many who are willing to pay even more, suggesting to give more tips to good taxi drivers. We should let the market forces determine how much the taxi drivers should get and encourage those who can afford to pay the taxi drivers more. Another way is to do an objective study by paying some international consultants to compare the salaries of taxi drivers with their counterparts. Then they can benchmark the salaries of the taxi drivers accordingly. Once a benchmark has been set, then no one should question the validity of the study, the methodology nor the increases expected. It should become a fait accompli. And everyone can then move on. Let the taxi drivers enjoy their little hikes. It comes to nothing actually.

Medisave Account RA

It is reported in the Today paper today that from Jan 1 2008, the RA or Required Amount in the Medisave Account 'will be raised to $14,000 from teh current $11,500, increasing by $2,500 each year until it reaches $25,000 on Jan1, 2013.' There are people with more than $25,000 in the Medisave Account. Does it mean that the CPF is retaining more than it can in the people's Medisave Account as provided by legislation? Should the excess amount be returned to the account holder?

Notable quotes - S Dhanabalan

'Singapore's leadership is honest' S Dhanabalan KNN. With the compensation package designed to make everyone honest, what shall we expect?

Longer COEs

Forum writer Frederick Tan Huay Teong pleaded to the LTA to allow extension of COEs for another 5 years and owners can have the option of renewing it year by year. This is good for those who are cash strapped. There is no issue on the condition of the cars as most of them will be like new. Scrapping them at 10 years is a waste. The current system allows renewal on another 10 year basis. Hmmm, it may be a good idea. But too complicate a system to manage. But what is the advantage from the revenue point of view?