Re : Govt should relook income qualifying levels
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I really have a hard time coming to terms how the author of this article is justifying his position to the government.
I would say that a combined income of S$8,000 would be considered better-off to the average singaporean and not just the government.In terms of housing options, there is a choice between private and resale HDB is there not? What about Executive Condominiums introduced to cater to Singaporeans, especially young graduates and professionals who can afford more than an HDB flat but find private property out of their reach?
Now if the author who has no kids and who has a personal salary of $4,000 is not "wealthy enough" to live a comfortable life, that would paint a rather sad picture for the rest of the average singaporean with salaries around $1K wouldn't it? And instead of "reluctantly" buying a private property, wouldn't it have been better to be realistic and practical and considered other options?
Now if a Double Income family with the combined income of S$8,000 find it hard to move out of the "no Kids" status, what about those single income families with kids?
However I do agree with the author that what the government says about having kids does not matter. At the end of the day, it is a personal decision that requires commitment and some amount of sacrifice. If a young couple were to based that important life decision on such benefits, then I think they need to get their priorities straight.
Of course I am certain the author played a role in contributing income taxes. But so do most other Singaporeans. To imply the success of our country has to do with his contributions is a blatant overstatement. Prehaps, the author might like to receive benefits meant for the lower income families while he's at it?
At the end of the day, the marginalised people will continue to increase if all families earning $8,000 and more feel that they are losing out. I believe the role of the government is to take care of Singaporeans one and all and not a select few discontented upper middle class. Prehaps it is time the government should relook, not into income levels but into teaching some Singaporeans how to manage their own self-centred expectations.
A more fitting title for the article should have been " Centre of the Universe". -
You need to give background and context to what you're saying? I, for one, don't really know what the post is about. -
Problem in getting a housing loan?
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The article from the Straits Times Forum on 07 Oct 2006
WHEN my wife and I read about the Housing Board's first public-housing project by a private developer, our eyes lit up with hope - until we learnt that the same qualification rules apply.
To the Government, my family is one of the better-off ones. With a combined income of more than $8,000, we are deemed to be well off and, thus, not eligible for any subsidies. The only housing options available to us are private housing and older, yet more expensive, HDB resale flats.
My peers and I belong to a group who are not wealthy enough to live comfortably - despite what many think - yet not poor enough to deserve any benefits from the Government. Should misfortune strike, we are not eligible to downgrade our housing immediately because of the 30-month time-bar.
My family, rather reluctantly, bought a private property because we were making slightly more than $8,000 a month when we needed a new home five years ago. None of us really had any cash savings then and we ended up with a huge loan from the bank.
After five years of paying more than $30,000 in interest per annum, we hardly have any savings. Meanwhile, our property has depreciated by $200,000 while our loan remains slightly above $500,000.
My wife and I would like to expand our family. We did our calculations and planned our future but still found it difficult to move out of our Dink (Double Income, No Kids) status.
What the Government said about making it easier for couples to have kids, the need to have kids, and the need to retain talent meant nothing to us.
We played a role in Singapore's success, contributing to the government coffers via income tax, but we always feel left out where benefits are concerned.
Not so long ago, I broke out in cold sweat after hearing some minister propose means testing.
In Singapore, it is neither the Malays nor the Chinese that are marginalised; it is the families earning $8,000 and more.
Perhaps it is time the Government relooks income qualifying levels to more accurately reflect today's standard of living.
Lee Wee Chong -
$8k is sufficient if u manage yr lifestyle and have a level headed expenditure.
not enuf if u live like there is no tomorrow.
for the chap who wrote to the forum, i am sure resale is also an option right? if u limit yr options, then there's grouses.
there is so many other mechanisms the gahmen can tweak to make housing affordable and financing manageable, not just income level.
when cars become out of reach due to the 30% down, what happen? so, there are many creative solutions to the problem. -
This problem have exist long ago, that's why some of the buyer being force to buy condo, not much choice as condo look more appealling compare to 2nd hand flat. And can see 2nd hand flat market slow down. There is a reason for thing happening in Singapore, ppl are suffering quietly. Like the levy act, many are been force to upgrade. 8k during boom time was not alot, now is alot.
Now 5rm resale beri cheap, same price as new one in some area? -
How you define comfortable life? Seriously, with a combined income of $4000, I don't see how that this is not enough, assuming that one has 2 kids studying in neighbourhood school and spend their money wisely.
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the author is really talking Cock.
a household income of $8k is definitely considered well-off. -
For most people, it is always safer to have MORE spare cash as backup.
Essentially, when they drive cars, they would rather have as many SPARE TYRES as possible in case one fails.
In SG context, this is not far from the truth.
Our govt is very fond of using blanket figures to derive their formulas for subsidies. Unfortunately, they don't seem to realise that there is no ONE MAGIC formula for all. There are always exceptions, just like statistical analysis, that defy the norm.
What our 'infallible' govt should do is include exceptional cases and qualifying criteria for those that are evidently left out. To do this, the govt must have dilligently study every facet of the problem first. Only then can they isolate the exceptions.
Of course, it is important to realise that just because the lower income group benefit from so many goodies, that does not automatically imply that those in the higher-income group deserve the same.
There's a reason why it's called subsidies. -
Stingy then can become rich mahOriginally posted by dragg:the author is really talking Cock.
a household income of $8k is definitely considered well-off.
He buy HDB first then sell then buy condo then sell then buy landed then can become rich mah!!
Singapore market is spoilt by them lah... -
bleh
den me n nellie = super poor liao lor...
their combined income is many times that of ours
whats wrong with resale? tho older.. it's still bigger and cheaper than some of the newer flats wor..
depending on area oso
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a lot of singaporeans' perception of comfortable living includes a car, a condo and annual trips overseas.
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Condo- depand on location/district, 99 or 999yr?
Car- 2.0 above, conti prefer.
Holiday- Europe,US or Japan.
I still in the uncomfortable level
Everyone comfort level are different, but last time so call 5 C nowadays seldom hear ppl talking liao. -
8K not enough? why not move to JB then drive in everyday??? joker!!!
if he got balls to open up his books, i will teach him how to spend his money wisely......
my dad earn less than 800 a mth, and he can buy a house, feed 2 kids and still got money to smoke, buy 4D and buy a bicycle lor... -
In Singapore, it is neither the Malays nor the Chinese that are marginalised; it is the families earning $8,000 and more.
also quite ridiculous his case.
the couple might as well quit both their jobs and go for thousand plus a mth jobs. then they will no longer be marginalised. -
Originally posted by Gunyandao:
This is a loop hole, after they got the house they can look for the same job again.
[b]In Singapore, it is neither the Malays nor the Chinese that are marginalised; it is the families earning $8,000 and more.
also quite ridiculous his case.
the couple might as well quit both their jobs and go for thousand plus a mth jobs. then they will no longer be marginalised.
[/b] -
It is the middle class rant against the subsidies given to poorer Singaporeans. They pay more taxes but they get less subsidies...essentially, they do not believe that the richer ones should help the poorer..
The government policy is correct. People like these can consider leaving Singapore to some other places where the taxes are even lower...good riddance to them
On the hand, it is true that it must still be more worthwhile to be earning 8k a month without the subsidies than earning less than 8k with the government subsidies. Welfarism saps a nation's strength. -
this is a case of another spoilt sgrean....like the one got no job but want to keep maid and handphone....
like i said, u can earn 2k and be `rich' or earn 10k and still be `poor'.
i remember someone who wrote this which is pretty profound,
the day u decide that u have enuf, then u are rich enuf.
here, $ingaporeans chase material things like a doggie chasing its tail....
i know the circumstances of the forum writer is different, like caught in the system. but there's a smaller and cheaper condo, or resale. based on the letter she wrote, they bought a condo in excess of 700k.... -
if the family's earning eight hundred a month, it's understandable if they start whining that they don't have enough to start a family ....
but EIGHT THOUSAND ? ........
what the hell is "reluctantly bought a private property" ? ... can there be such a thing ? ... they bought a private property when prices were on the upswing, obviously hoping to cash in on the wave .... now that prices have started slipping, they start whining ? ...
something is seriously wrong here ... and if this is the kind of entitlement attitude that many yuppie Singaporeans have, then I'd have to say we're farked ... -
my idea of comfy livin = 1 person work the other shake leg at home...Originally posted by dragg:a lot of singaporeans' perception of comfortable living includes a car, a condo and annual trips overseas.
and still can afford go out makan once a mth at sizzlers and such or go outing... and have 3 pc and adsl +cable and also....
aircon every night
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we're very farked..Originally posted by Fatum:if the family's earning eight hundred a month, it's understandable if they start whining that they don't have enough to start a family ....
but EIGHT THOUSAND ? ........
what the hell is "reluctantly bought a private property" ? ... can there be such a thing ? ... they bought a private property when prices were on the upswing, obviously hoping to cash in on the wave .... now that prices have started slipping, they start whining ? ...
something is seriously wrong here ... and if this is the kind of entitlement attitude that many yuppie Singaporeans have, then I'd have to say we're farked ... -
i guess $5k should be enough.Originally posted by shinta:my idea of comfy livin = 1 person work the other shake leg at home...
and still can afford go out makan once a mth at sizzlers and such or go outing... and have 3 pc and adsl +cable and also....
aircon every night -
nope... nt enuff...Originally posted by dragg:i guess $5k should be enough.
still need to put aside some money for old age
but then if nel earn 4k a mth hor...
i dun mind resigning from this job and go teach young kids how to read story books
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$8,000 per month looks comfy to me though. But he has mentioned that he and wife haven't got much savings. Seems to me that's he's got a gd car, eats gd restaurants, either that or he has to support his parents.Originally posted by Xenthar:I really have a hard time coming to terms how the author of this article is justifying his position to the government.
High income high expense. It's difficult most of the time to have a high income yet low expense but he should cut down on his lifestyle if it's the former. -
The author miss out one thing, his point involve job security. As in long run, they may face single income while the loan may still in running. Government policy maybe well covered, but the flexibility is not there. Base on young couple, 30yr x 1-2k loan is common. The point is buying house is very different from buying a car. Author had though of all the possibility in the future with little backup of cash.Originally posted by oxford mushroom:It is the middle class rant against the subsidies given to poorer Singaporeans. They pay more taxes but they get less subsidies...essentially, they do not believe that the richer ones should help the poorer..
The government policy is correct. People like these can consider leaving Singapore to some other places where the taxes are even lower...good riddance to them
On the hand, it is true that it must still be more worthwhile to be earning 8k a month without the subsidies than earning less than 8k with the government subsidies. Welfarism saps a nation's strength.