Will minimum wage laws work here?

[tangent314]

Not really. There are a lot of middle and high income earners that recognize that growing wealth inequality is a serious problem and want good ways to bring that down. Minimum wages is one way of doing it, though not necessarily the best.

Of course, there are always a few people that believe that the rich deserve to get richer, who cares about the slav.... err... low income peasants.

Personally I believe in Universal Basic Income.

 

[RMCWMR]

Not feasible if you know what MOM or employers are doing. That's also interfering with the free market.

Not true. Even free markets like USA have min wage.

 

[RMCWMR]

It just makes it illegal for the employee to negotiate a lower wage for him or herself. It is worse for the employee, not the employer who can manage with automation.

Also it denies young people with no experience the opportunity to find jobs for very low or no pay so that they can get started. Employers will resist training the young and prefer to employ experienced instead.

Ultimately it is just liberal progressive BS designed to sound politically good but intensely harmful to the very people it is claimed to help.

Automation is going to happen whether or not there is min wage

 

[RMCWMR]

Not really. There are a lot of middle and high income earners that recognize that growing wealth inequality is a serious problem and want good ways to bring that down. Minimum wages is one way of doing it, though not necessarily the best.

Of course, there are always a few people that believe that the rich deserve to get richer, who cares about the slav.... err... low income peasants.

Personally I believe in Universal Basic Income.

While i agree with min wage, Universal Basic Income will not go down well because people are inherently greedy.

 

[Shahmatt]

Not really. There are a lot of middle and high income earners that recognize that growing wealth inequality is a serious problem and want good ways to bring that down. Minimum wages is one way of doing it, though not necessarily the best.

Of course, there are always a few people that believe that the rich deserve to get richer, who cares about the slav.... err... low income peasants.

Personally I believe in Universal Basic Income.

If these rich people earned their money through coercion, like they robbed you, then you might have a case. But most rich earned their money through legal means.

Growth inequality is just a nice cover for jealous. If you are jealous that other people have more than you then just say so.

As for UBI. What a load of low brow nonsense.

Firstly it requires robbing from the middle class mainly to give to the poor. I hope you like theft.

Secondly it won't work to help ease the problems. That's because the prices of goods and services will readjust to the income of the people. If you increase income then prices go up. That's why things are expensive in areas with rich people. So you will find your UBI people poor all over again.

Also the USA is a terrible model to follow. 20 trillion in debt and 120 trillion in unfunded liabilities? An economic disaster waiting to happen.

 

[d9_lives]

Personally I believe in Universal Basic Income.

Sounds good!,
Please share about your belief.
Can I quit my job, rely on UBI and do whatever I want?
The riches will also get $$?
Who wants to do the tough and dirty works?
Who wants to put in more effort?
Who pays?

 

[BBCWatcher]

Of course a minimum wage is feasible. Most countries have one, including Singapore's neighbors.

And it's extra feasible in Singapore because Singapore already has some minimum wages. One poster pointed out, correctly, that Singapore does have a minimum wage for Singaporeans: for senior civil servants and government leaders. Their minimum wages are pegged to percentages of benchmark private sector wages. Singapore also has minimum wages for many foreign worker categories. For example, the Ministry of Manpower currently enforces a $3,600/month minimum wage (fixed monthly salary) for Employment Pass holders.

Whether it'd be a wise policy or not is a separate question -- yes, probably, in my view -- but feasible? Absolutely, no problem.

 

[5408854088]

Why not a minimum wage in Singapore? Former labour chief Lim Boon Heng and Ambassador-at-Large Tommy Koh spar on how best to help low-wage workers.

http://str.sg/oX9W

Five panellists talk about Singapore's wage model - former labour chief Lim Boon Heng, Ambassador-at-Large Tommy Koh, labour MP Zainal Sapari, and giving the employers' perspective, Mr Kurt Wee and Mr Daniel Thong.

 

[Cryophoenix]

Of course a minimum wage is feasible. Most countries have one, including Singapore's neighbors.

And it's extra feasible in Singapore because Singapore already has some minimum wages. One poster pointed out, correctly, that Singapore does have a minimum wage for Singaporeans: for senior civil servants and government leaders. Their minimum wages are pegged to percentages of benchmark private sector wages. Singapore also has minimum wages for many foreign worker categories. For example, the Ministry of Manpower currently enforces a $3,600/month minimum wage (fixed monthly salary) for Employment Pass holders.

Whether it'd be a wise policy or not is a separate question -- yes, probably, in my view -- but feasible? Absolutely, no problem.

Minimum wage for silver serpents. Good life.

 

[mazduh]

unless we have our own palm oil and rubber.

 

[Merg91]

Aiyoh, EP cut off is not minimum pay related.

TS wants her condo cleaners & McDonald boys serving her getting at least $2k, provided she doesn't have to pay more.

Tax the rich but not her.

 

[Aion99]

Not feasible. For a country that has been importing cheap labour overseas for many years. Minimum wages will deny Singaporeans for low skill jobs.

How many Singaporeans are interested in a "low pay" no skill jobs?


A degree holder doing exactly the same job scope with O-level holder, why the degree holder can get 3k and O-level get 1k?

 

[kkcheng77]

How many Singaporeans are interested in a "low pay" no skill jobs?


A degree holder doing exactly the same job scope with O-level holder, why the degree holder can get 3k and O-level get 1k?

Many. Live besides a rental flat and you'll know.

 

[Aion99]

Many. Live besides a rental flat and you'll know.

Lets say Job "Plate Collector" that current starting pay Degree Holder at 2k but O-level holder at 1k. Both job scope are exactly the same. Everything else such as experience, age etc all the same. The only difference is one got degree, the other don't have.


If Gov set min wage at 1.5K, O-Level starting pay get will get 1.5k
Employer just cut the overpaid degree holder to 1.5k also.


Then employer labor costs still remained the same......So it is not true that min wage will increase costs or reduce worker. Employer will know how to adjust.

 

[BBCWatcher]

Aiyoh, EP cut off is not minimum pay related.

A minimum monthly wage to qualify for an Employment Pass is not minimum pay related? How do you figure that?

Before you answer too hastily, I should point out that there are also minimum monthly wage requirements for S Passes, Personalised Employment Passes, and Training Employment Passes.

As of the end of December, 2018, there were about 185,800 EP/PEP holders and 195,500 S Pass holders. The employers of those 381,300 workers are subject to minimum wage requirements for them. They represent about 10.3% of Singapore's total labor market. This percentage does not include Training EP holders and the select civil servants and government leaders subject to minimum wage rules.

 

[Merg91]

TS minimum wage is poverty reduction mission for the lower end.
Very holy one. GINI lor.

Of course I know EP/SP have certain criteria.

 

[kkcheng77]

Lets say Job "Plate Collector" that current starting pay Degree Holder at 2k but O-level holder at 1k. Both job scope are exactly the same. Everything else such as experience, age etc all the same. The only difference is one got degree, the other don't have.


If Gov set min wage at 1.5K, O-Level starting pay get will get 1.5k
Employer just cut the overpaid degree holder to 1.5k also.


Then employer labor costs still remained the same......So it is not true that min wage will increase costs or reduce worker. Employer will know how to adjust.

Slightly disagree. In what you described,
Plate collector boss or any other private sector employer very likely will kick out the 2k/mth degree holder and employ 2 O level. So without min wage, he can have 3 plate collector. Once MW kicked in he have to reduce to 2 in order to have the same headcount expenses. So the way I look at it MW does deny employment opportunity or increase cost to some extend. Of course those who remain employed under MW will be happier.

Totally agree because what you described happens in Gov sector/stat board.

 

[hindsight]

A minimum monthly wage to qualify for an Employment Pass is not minimum pay related? How do you figure that?

Merg is right, the minimum pay required to qualify for an EP is not minimum wage, it functions more like a form of immigration control because EP applicants only form part of the workforce after the EP has been granted.

Minimum wage is a form of price control, its essentially a price floor for labour, but it can applied to just about any other commodity.

Price controls are in general, harmful to the economy, in its most extreme form (communism) the common folks are the ones who end up paying the price.

 

[Merg91]

Who here say no if your HDB conservancy fee up 20%, MRT up 20% or a Big Mac meal $12?

I heard McDonald staff are mostly under paid & below the average.

TS wants her condo cleaners & McDonald boys serving her getting at least $2k, provided she doesn't have to pay more.

Tax the rich but not her.

 

[theMKR]

Of course a minimum wage is feasible. Most countries have one, including Singapore's neighbors.

And it's extra feasible in Singapore because Singapore already has some minimum wages. One poster pointed out, correctly, that Singapore does have a minimum wage for Singaporeans: for senior civil servants and government leaders. Their minimum wages are pegged to percentages of benchmark private sector wages. Singapore also has minimum wages for many foreign worker categories. For example, the Ministry of Manpower currently enforces a $3,600/month minimum wage (fixed monthly salary) for Employment Pass holders.

Whether it'd be a wise policy or not is a separate question -- yes, probably, in my view -- but feasible? Absolutely, no problem.

3.6k is a guideline.
U can get ep for as low as 2.5k

Or maybe lower.....