14.3% of children born to the bottom 1/5 of income earners later moved on in life to become the top 1/5 income earners in their 30s

tripleme

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In his speech on Friday, Mr Wong said that the level of Singapore’s carbon emissions is what determines the trajectory of its fiscal strategy, alongside the level of inequality and its aging population.

Singapore’s Gini coefficient, which measures inequality, has been on a steady decline since 2007, especially after taking the Government’s redistributive policies and transfers into account, he added.

“It is not just about redistribution. Fundamentally, we want every Singaporean, regardless of background, to have the opportunity to progress and succeed based on his or her own effort and talents.”

A 2015 study by the Ministry of Finance, which looked at children born from 1978 to 1982, found that 14.3 per cent of children born to the bottom one-fifth of income earners later moved on in life to become the top-fifth income earners among their peers in their 30s.

Although the figure has dropped slightly to 14 per cent for those born from 1985 to 1989, Mr Wong pointed out that this proportion is better than many other countries.

To this end, Singapore has invested heavily on education, and rolled out social policies such as SkillsFuture and the Workfare Income Supplement scheme. The latter works as a negative income tax since it hands out cash supplements to workers whose incomes are below a certain threshold.

These programmes require recurrent funding, which are borne by taxes that apply to the current generation who benefit from such policies.

Read more at https://www.todayonline.com/singapo...xt-budget-current-level-too-low-lawrence-wong
 

Wu-Han Clan

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born 1970 - early 80 saw the most development lah.... this kind everyone is super low ses parents bt if go local uni sure win in life... you count hw many ratio go local uni lah then you count.....

the numbers look gd... bt scholars shld do another study...

bottom 15% born in 1990s, suck cock generation... go ite/pvt uni.... can become top 1/5 income earners in 30s????
 

lchua6

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In his speech on Friday, Mr Wong said that the level of Singapore’s carbon emissions is what determines the trajectory of its fiscal strategy, alongside the level of inequality and its aging population.

Singapore’s Gini coefficient, which measures inequality, has been on a steady decline since 2007, especially after taking the Government’s redistributive policies and transfers into account, he added.

“It is not just about redistribution. Fundamentally, we want every Singaporean, regardless of background, to have the opportunity to progress and succeed based on his or her own effort and talents.”

A 2015 study by the Ministry of Finance, which looked at children born from 1978 to 1982, found that 14.3 per cent of children born to the bottom one-fifth of income earners later moved on in life to become the top-fifth income earners among their peers in their 30s.

Although the figure has dropped slightly to 14 per cent for those born from 1985 to 1989, Mr Wong pointed out that this proportion is better than many other countries.

To this end, Singapore has invested heavily on education, and rolled out social policies such as SkillsFuture and the Workfare Income Supplement scheme. The latter works as a negative income tax since it hands out cash supplements to workers whose incomes are below a certain threshold.

These programmes require recurrent funding, which are borne by taxes that apply to the current generation who benefit from such policies.

Read more at https://www.todayonline.com/singapo...xt-budget-current-level-too-low-lawrence-wong
Isn't that a bad thing?

Assuming everyone has equal chance, everyone should have 20% chance of becoming 1/5 top earners in their 30s.

However, the poor only got 14.3% chance of becoming 1/5 top earners in their 30s.
 

Nicholas92

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Strike TOTO or Crypto windfall
Play stock market and beat the market
Start your own business and become successful
Study hard and climb corporate ladder
Be property Agent and huat one times big one

any other tips to go from bottom to top
 

Nicholas92

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Isn't that a bad thing?

Assuming everyone has equal chance, everyone should have 20% chance of becoming 1/5 top earners in their 30s.

However, the poor only got 14.3% chance of becoming 1/5 top earners in their 30s.
Cause your assumption wrong liao. Everyone doesn’t have an equal chance.

Your status at birth does affect your status at 30s. The race is not fair from the day you born.

you born as rich man son vs poor man son the difference is damn big.

Society has implemented means to move up, but it’s not easy man.
 

Dgains

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Survivor bias. Like what the other edmwer said, what about the majority 86% ? You don't hear stories about those who failed.

History are written by the victors
 
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