What should be the minimum annual wages for Singaporeans?
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Originally posted by 16/f/lonely:
Do YOU?Haha......so many economies have repeatedly shown that a minimum wage hurts more in the long run.
A market exists because there's demand and supply. The pay exists because it is agreed implicitly upon by employees and employers.
You're essentially removing that equation by introducing such a law.
Employees get higher pay and would agree, but employers would not. So, they will fire workers and reduce demand for workers. Yet, the supply for workers who agree to this new pay will not fall, in fact, they would rise! So you get job shortage, and a resulting lower productivity in return for this so called welfare.
The consequences will only show in the long-term.
So why is child labour an issue? Why do so many countries enact legislations that outlaw child labour since that too, in theory, hurts the economies in the long run?
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Originally posted by walesa:
This is completely ridiculous - a minimum wage seeks to ensure the basic needs of the lowest strata of society are adequately taken care of, not ensuring you get a pay that commensurates with your ability to reflect your status or redefine the social stratification.
The only variation in minimum wages I know of are those which set different guidelines for different cities (within the same country) due to the differing cost of living, which makes perfect sense. The Chinese adopt this system and plans are afoot in the UK to increase the minimum wage in London...
And.. there goes another block headed Singaporean Scholar... wooo hooooo!
Can we not splice the idea and adapt it to the Singapore landscape? .. What the heck.. havn't you heard of "UNIQUELY Singapore"? hehehehhe....
But you must understand that the "FTs" don't just affect the lowest strata of our poor little society.. the middle income group are badly hit by the influx too. And these are the people that forms the major part of our work force .. is it not ?
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Originally posted by jojobeach:
And.. there goes another block headed Singaporean Scholar... wooo hooooo!
Can we not splice the idea and adapt it to the Singapore landscape? .. What the heck.. havn't you heard of "UNIQUELY Singapore"? hehehehhe....
But you must understand that the "FTs" don't just affect the lowest strata of our poor little society.. the middle income group are badly hit by the influx too. And these are the people that forms the major part of our work force .. is it not ?
Scholar? I'm not one. Idiot, sure you are!Before jumping on your adrenaline rush and posting some garb for the exclusive sake of doing so, you may wish to re-read what I addressed in my post (ie. the quote I cited). Only a moron like you would even dream of having a multi-tiered minimum wage for the various professions. What are you trying to achieve? Mimic the civil service payscale for the underpaid?
Go over the drivel you're espousing and name me a society that implements a multi-scaled minimum wage you're suggesting. Are you sure you even know what a minimum wage is? Or do you reckon there should even be minimum wages for world-class athletes and entertainers?
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Originally posted by walesa:
Scholar? I'm not one. Idiot, sure you are!Before jumping on your adrenaline rush and posting some garb for the exclusive sake of doing so, you may wish to re-read what I addressed in my post (ie. the quote I cited). Only a moron like you would even dream of having a multi-tiered minimum wage for the various professions. What are you trying to achieve? Mimic the civil service payscale for the underpaid?
Go over the drivel you're espousing and name me a society that implements a multi-scaled minimum wage you're suggesting. Are you sure you even know what a minimum wage is? Or do you reckon there should even be minimum wages for world-class athletes and entertainers?
Nah you're right.. I have absolutely no idea what the hell minimum wage is.
Afterall.. I am working in the USA.... hohohhhohoo~
And yah.. you're so damn right.. since no other else has implemented a multi tiered one.. why should Singapore?... We always following other people's butt anyway....
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Originally posted by jojobeach:And.. there goes another block headed Singaporean Scholar... wooo hooooo!
Can we not splice the idea and adapt it to the Singapore landscape? .. What the heck.. havn't you heard of "UNIQUELY Singapore"? hehehehhe....
But you must understand that the "FTs" don't just affect the lowest strata of our poor little society.. the middle income group are badly hit by the influx too. And these are the people that forms the major part of our work force .. is it not ?
I attended a recent seminar. The statistics for Singapore income was listed as
lower income 44% (<4000)
middle income 32% (4000 to 8000)
high income 24% (>8000) -
Originally posted by redDUST:
train and become what? tell me what skills you can train NOW that the foreigners now lack and cannot compete with singaporeans? nadda. i can't think of one.
you immersed too much into the government literature and you come out muddle headed.
yes, train to not much use really.
the issue is Oversupply.
seng duo zou shao.
hk liao.
those from poor families in the pore are relying on education to get some salary. with the oversupply , the pore dream is going to the foreigners by much.
9:1 my friends.
i witness this in many places i worked for.
this is why i dare voice out. i can show proof what i say.
i am not spreading propaganda like some here. i am speaking as it is.
if the ratio is so highly biased, i think there is no need to work liao. just employ 10:0 foreigners lor. since this logic is so great mah. according to eager eagle.
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Originally posted by eagle:
I attended a recent seminar. The statistics for Singapore income was listed as
lower income 44% (<4000)
middle income 32% (4000 to 8000)
high income 24% (>8000)Lower income less than $4000 ???????
What a joke.. can they sub categorize the lower income group with <$2000 ?
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Originally posted by jojobeach:
Nah you're right.. I have absolutely no idea what the hell minimum wage is.
Afterall.. I am working in the USA.... hohohhhohoo~
And yah.. you're so damn right.. since no other else has implemented a multi tiered one.. why should Singapore?... We always following other people's butt anyway....
Yeah, so would you like to tell me the federal minimum wage of USD7.15/hour does not apply to certain professions in the US? Or that there're actually differing minimum wages for different professions in the same location anywhere on the planet?
Maybe you've just found the cure for global poverty and should be in the running for the next Nobel Prize in economics.
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Originally posted by jojobeach:
Lower income less than $4000 ???????
What a joke.. can they sub categorize the lower income group with <$2000 ?
I also dunno why.
But there were statistics on <1000, and 1000~1999, categorised in terms of 1000 till the 10000 mark
The categorisation was as stated.
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Originally posted by eagle:
I attended a recent seminar. The statistics for Singapore income was listed as
lower income 44% (<4000)
middle income 32% (4000 to 8000)
high income 24% (>8000)
That should refer to a household income and not the income of an individual? -
Originally posted by walesa:
That should refer to a household income and not the income of an individual?oh ya.... correct... My mistake...
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Originally posted by walesa:
Yeah, so would you like to tell me the federal minimum wage of USD7.15/hour does not apply to certain professions in the US? Or that there're actually differing minimum wages for different professions in the same location anywhere on the planet?
Maybe you've just found the cure for global poverty and should be in the running for the next Nobel Prize in economics.
You hor.. sibeh boh liao.. dunno how to use Internet search ah ?
There.. I make it easy for you.. this is the link to exemptions.
http://aede.osu.edu/resources/docs/pdf/7ED6D7D0-2C44-4D6D-8CF779E683628F23.pdf
Here's the link to different federal min wage in different states.
http://www.dol.gov/esa/minwage/america.htm
FYI: States also got min wage .. but which ever is greater will apply.
Yah I know..I deserve the price.. but I will donate it to charity. I very generous like LHL.
At least I am more creative. not like you..only know how to follow people's backside..
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Originally posted by jojobeach:
You hor.. sibeh boh liao.. dunno how to use Internet search ah ?
There.. I make it easy for you.. this is the link to exemptions.
http://aede.osu.edu/resources/docs/pdf/7ED6D7D0-2C44-4D6D-8CF779E683628F23.pdf
Here's the link to different federal min wage in different states.
http://www.dol.gov/esa/minwage/america.htm
FYI: States also got min wage .. but which ever is greater will apply.
Yah I know..I deserve the price.. but I will donate it to charity. I very generous like LHL.
At least I am more creative. not like you..only know how to follow people's backside..
What are you trying to prove? You have a substandard IQ that would even put a child in pre-school to shame?
At no point did I mention that different minimum wages in the same country does not actually exist, did I? I even got the ball rolling by citing China and the UK as examples.
If anything, I'd like to be enlightened on any country in the world that actually adopts a minimum wage that differs on the basis of profession (oh, and don't confuse this with union-negotiated wages sorted on an industry-basis). Why don't you get cracking and work on that?
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Here Walesa,
Another Min Wage Exemption Link.
http://doe.state.wy.us/lmi/mw/mwreport.htm#Appendix%20A:%20Federal%20Minimum%20Wage%20Exemptions
Enuf boh ? Want me to give you more ?
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Originally posted by walesa:
What are you trying to prove? You have a substandard IQ that would even put a child in pre-school to shame?
At no point did I mention that different minimum wages in the same country does not actually exist, did I? I even got the ball rolling by citing China and the UK as examples.
If anything, I'd like to be enlightened on any country in the world that actually adopts a minimum wage that differs on the basis of profession (oh, and don't confuse this with union-negotiated wages sorted on an industry-basis). Why don't you get cracking and work on that?
Yah lah.. you very smart lah.. as usual.. lor.
I not trying to prove anything mah.. I raise an idea... you don't appreciate never mind lor.. but ofcors you mustn't ridicule it mah.. heart my fragile feeling leh... sob.
Like that CHAM LIAO LORRR>> Singaporeans destined to have no creativity lah...sob~
That's right.. we can only Monkey see Monkey dooo.... marjulah singapura...!!!
You so smart.. how you know I in pre-school ?..When you in Pre-school you got as smart as me anot ????
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Originally posted by jojobeach:
Yah lah.. you very smart lah.. as usual.. lor.
I not trying to prove anything mah.. I raise an idea... you don't appreciate never mind lor.. but ofcors you mustn't ridicule it mah.. heart my fragile feeling leh... sob.
Like that CHAM LIAO LORRR>> Singaporeans destined to have no creativity lah...sob~
That's right.. we can only Monkey see Monkey dooo.... marjulah singapura...!!!
You so smart.. how you know I in pre-school ?..When you in Pre-school you got as smart as me anot ????
So are you going to enlighten us on how a multi-tiered minimum wage segregated on the basis of professions is actually going to work? -
Originally posted by walesa:
So are you going to enlighten us on how a multi-tiered minimum wage segregated on the basis of professions is actually going to work?Are you going to pay me one million lollar ?
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Originally posted by eagle:
The solution is not to compete through productivity. Listen to the government on this part and you will forever be stuck in such a never-ending race. So what if you have gone and take another course to up your productivity? Very very soon, another FT with better productivity will come along and compete. Then you take another course to upgrade yourself. Then another better productivity FT come along again. This is a never ending cycle.
Isn't that the whole point?The world is moving and you choose to stick your feet in mud?
Bitter medicine but necessary for a economy to remain competitive.
In case you guys dont know S'pore is running a current account surplus of 15-20% of the GDP, which is the highest in the world. No mean feat at all. What allows the unemployment rate to remain fairly low in face of FTs and higher incomes? Better productivity from us! This was the feedback given by many MNCs.
And who cares about the PAP. This is my opinion.
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Originally posted by 16/f/lonely:
Isn't that the whole point?The world is moving and you choose to stick your feet in mud?
Bitter medicine but necessary for a economy to remain competitive.
In case you guys dont know S'pore is running a current account surplus of 15-20% of the GDP, which is the highest in the world. No mean feat at all. What allows the unemployment rate to remain fairly low in face of FTs and higher incomes? Better productivity from us! This was the feedback given by many MNCs.
And who cares about the PAP. This is my opinion.
Okaaay... so where does the surplus goes to ? Your pocket or my pocket ? Or our ministers pocket ?
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And who cares about the PAP.
I also don't care about PAP.
I want to get rid of them.
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Originally posted by jojobeach:
Okaaay... so where does the surplus goes to ? Your pocket or my pocket ? Or our ministers pocket ?
The surplus we keep as foreign reserves.I'm not saying a surplus is good, the best would have been neither deficit nor surplus. But an exceptionally high surplus indicates that S'pore is exporting goods and services far more than it imports.
Considering how much we actually import, this is really no mean feat. If we do not KEEP training, we would have ended up like USA which is running a deficit of $3T.
At this rate the USA greenback keeps flowing out, there'll come a time when it will collapse. It really is just a matter of time.
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Originally posted by jojobeach:
Are you going to pay me one million lollar ?
You'd get much more than that if your half-baked policy could be implemented in any tangible form, if the benchmarks adopted by this regime is anything to go by. -
The US dollar will not collapse. It's been overdue for an adjustment for a very long time. It hasn't bottomed out yet.
The dollar always comes back
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Originally posted by Eddie Lee:
The US dollar will not collapse. It's been overdue for an adjustment for a very long time. It hasn't bottomed out yet.
The dollar always comes back
Unfortunately those soft lands the US made over those years were because the FED cut interest rates everytime something happens.By doing so, the effects will merely be transferred to another part and consumers carry on. But there will come one day the US will face a big recession chiefly because the debt is simply unsustainable.
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Yeah these low interest rates make me crazy lah!
Worse case scenario the US stops buying golf clubs and shower curtains from countries with cheap labor.
And starts making it's own junk again.
My main concern is that the US leftist party will gain the white house and start monekying around with the economy. Instead of the mild recession that the US is heading for we could experience a mini-depression.