Will minimum wage laws work here?

[BBCWatcher]

When they move overseas, they usually bring their companies and factories with them.

Do you have some specific examples? Did Eduardo Saverin bring Facebook with him?

Billionaires I would say are generally smarter than government employees.

You mean billionaires like Warren Buffett and Bill Gates who favor higher taxes on themselves and on other like situated individuals?

Then why US removed these high tax rates?

Mostly because some (not all) rich people figured out how to buy political influence more effectively over time.

 

[Aion99]

Frog in a well spotted.
Australia is a big self sustainable country.
No need to rely on export.
Got tons of farm, animals, fish and food.

Singapore is an island city.
The Australia model will not work on Singapore,
as Singapore is not self substainable.
They no food to eat can eat Kangeroo.
You no food to eat in SG you go eat grass ah?

Tons of people in Australia work below min wage and their taxes are around 40% if memory serves.

Taxing the Billionaires doesn't work because they will migrate and relocate their business else where.

Eat Kangaroos? OMG. Someone forget to eat medicine. Lol. No food to eat? I think people in sg are more worried about the excessive food waste here. Illegal workers every country also have. Let's wait if more poor citizens want to have min wage.

 

[mummy1234]

How about a charity tax for the ultrawealthy. That won't make a dent in their lifestyle at all. Afterall, Sg granted them a good place to stay, work, live and play.
They have a moral duty to give back to society.

 

[mummy1234]

Rising income inequality between citizens and expats makes citizens angry. Cause our wealth goes to foreigners.

Look at HK uprising now. Ordinary Sgpn r enslaved by our high housing and high transport costs. PAP must learn the lesson from HK to prevent a workers' revolution if workers (citizens) complaints r not adequately addressed.

 

[BBCWatcher]

Ordinary Sgpn r enslaved by our high housing and high transport costs.

Singapore doesn’t have high transport costs. It has very low transport costs. You can cross the whole nation or even get to Malaysia for a maximum fare of about S$2.50, and the level of service is better than ever in part because the train network is bigger than ever. Singapore has high private automobile transport costs specifically, as it should for a small country, although even those costs aren’t anywhere near their record highs, probably because of smartphone ride hailing apps.

And of course there’s HDB, with over 80% of Singaporeans living in HDB units. HDB prices have maintained their composure, housing grants are as generous as ever, and mortgage interest rates have remained low.

I think the government is doing rather well in these areas, and I’m not shy about suggesting areas where I think the government can and must do better.

 

[Toni90]

Rising income inequality between citizens and expats makes citizens angry. Cause our wealth goes to foreigners.

Look at HK uprising now. Ordinary Sgpn r enslaved by our high housing and high transport costs. PAP must learn the lesson from HK to prevent a workers' revolution if workers (citizens) complaints r not adequately addressed.

I think Singapore gov seems neglecting mental health issues. Let too many of them out untreated.

 

[fzhfzh]

Do you have some specific examples? Did Eduardo Saverin bring Facebook with him?


You mean billionaires like Warren Buffett and Bill Gates who favor higher taxes on themselves and on other like situated individuals?


Mostly because some (not all) rich people figured out how to buy political influence more effectively over time.

Just look up France and their wealth tax for plenty of examples. Eduardo is now an angel investor/vc investing in Singapore. He could've been an investor funding startups in silicon valley. So yes, he brought his venture with him that could have been in US.

I did not see anywhere that says Buffett supports a wealth tax. The only article I found that says he said that is a satire. Both of them just talk about higher tax for the rich, neither of them supported a wealth tax. If you could link me to the article where Buffett said that it would be great.

International tax rules will not happen, because there will always be small countries like Singapore that will want to have the tax haven status to attract international wealth.

 

[mummy1234]

Singapore doesn’t have high transport costs. It has very low transport costs. You can cross the whole nation or even get to Malaysia for a maximum fare of about S$2.50, and the level of service is better than ever in part because the train network is bigger than ever. Singapore has high private automobile transport costs specifically, as it should for a small country, although even those costs aren’t anywhere near their record highs, probably because of smartphone ride hailing apps.

And of course there’s HDB, with over 80% of Singaporeans living in HDB units. HDB prices have maintained their composure, housing grants are as generous as ever, and mortgage interest rates have remained low.

I think the government is doing rather well in these areas, and I’m not shy about suggesting areas where I think the government can and must do better.

Sg travel to Malaysia just S$2.50???

How please teach me. Even by public transport, it is not true. Unless u r talking about Tebrau shuttle. And u live next to the causeway and just wanna live at R and F and not go anywhere furthur in. U still need a car to travel around Malaysia and car costs money.

 

[mummy1234]

Just look up France and their wealth tax for plenty of examples. Eduardo is now an angel investor/vc investing in Singapore. He could've been an investor funding startups in silicon valley. So yes, he brought his venture with him that could have been in US.

I did not see anywhere that says Buffett supports a wealth tax. The only article I found that says he said that is a satire. Both of them just talk about higher tax for the rich, neither of them supported a wealth tax. If you could link me to the article where Buffett said that it would be great.

International tax rules will not happen, because there will always be small countries like Singapore that will want to have the tax haven status to attract international wealth.

Yes Warren Buffett are the few billionaires who r asking to be taxed more. I read that in an article before. Can google search.

 

[Shahmatt]

Hardly anyone paid the 90% tax rate in the US. It was very easy to dodge.

 

[fzhfzh]

Yes Warren Buffett are the few billionaires who r asking to be taxed more. I read that in an article before. Can google search.

Yet I’ve not seen them advocate for wealth tax as mentioned. Asking for rich to be taxed more doesn’t mean they really want themselves to be taxed more.

 

[Entry Level PC]

Eat Kangaroos? OMG. Someone forget to eat medicine. Lol. No food to eat? I think people in sg are more worried about the excessive food waste here.

Illegal workers every country also have. Let's wait if more poor citizens want to have min wage.

Si Ginna spotted.
Jiak Kangeroo is the norm in Australia.
Apparently you never seen despo elderly eat left over hawker
food before.

Australians urged to eat kangaroo meat
https://www.bbc.com/news/world-australia-41227521

The best ways to cook and enjoy kangaroo meat
https://www.abc.net.au/life/how-to-cook-and-enjoy-kangaroo/10408336

Look At This Photo of a Kangaroo. Awww, Isn't It Cute? Here's Why You Should Eat It
https://www.menshealth.com/nutrition/a19534609/apparently-you-should-be-eating-kangaroo-meat/

meanwhile in sg...

Woman Buys Chicken Rice For Elderly Lady Seeking Leftovers At Clementi Food Centre
https://mustsharenews.com/clementi-food-centre-elderly/

Hawker gives free food coupons to elderly poor
https://www.asiaone.com/singapore/hawker-gives-free-food-coupons-elderly-poor

Don't know crap want to preach min wage.
Go jiak crap lah you.
Si Ginna go serve your NS.

 

[antonpoh]

Please give ur valued inputs and explain why it is not feasible cause I am for minimum wage.

Six Countries with No Minimum Wage

Countries With The Highest Minimum Hourly Wages In The World, 2019

 

[Merg91]

Typical Chee Soon Juan level of IQ.
No society can 100% off poverty.
It is always the severity.

Travel more & see.

meanwhile in sg...
Woman Buys Chicken Rice For Elderly Lady Seeking Leftovers At Clementi Food Centre

Hawker gives free food coupons to elderly poor

 

[Merg91]

Warren Buffett did request but few multimillionaires /billionaires, as expected would agreed.

Unlike Buffett, TS just wants to have minimum pay but let others pay for it but spare her pocket.

Yet I’ve not seen them advocate for wealth tax as mentioned. Asking for rich to be taxed more doesn’t mean they really want themselves to be taxed more.

 

[limster]

Buffett favours taxation but I don't see anything about him favouring minimum wage. As far as I can tell, he believes that the free market is efficient in allocating resources.

Minimum wages, being a 'hard line', may prevent efficient allocation of resources. Workfare is an interesting experiment at 'softening' the line.

Progressive taxation may do less harm to the efficient allocation of resources.

All this is standard econs theory.

 

[d5dude]

Buffett favours taxation but I don't see anything about him favouring minimum wage. As far as I can tell, he believes that the free market is efficient in allocating resources.

Minimum wages, being a 'hard line', may prevent efficient allocation of resources. Workfare is an interesting experiment at 'softening' the line.

Progressive taxation may do less harm to the efficient allocation of resources.

All this is standard econs theory.

Ya workfare is already a form of minimum wage, also the government have lots of programs that help to lift the poor, they just announced more housing grants for poor families, its now gone up to a max of 160k (!), in many other countries you end up on the street if you are poor...

 

[theMKR]

Six Countries with No Minimum Wage

Countries With The Highest Minimum Hourly Wages In The World, 2019

5 out of the 6 countries have very VERY VERY few FT working there.
and i meant like 1 FT per 200 employee maybe

This small Asian country is an economic example for the entire world for a number of reasons. Singaporeans have a self-regulated job market that requires absolutely no intervention from the government. There’s no other country in the world that rewards employees more fairly based on their level of experience, skill, education, and capabilities. At the same time, this generates an extremely healthy competition among their workforce. This results in a country that’s very close to becoming the most high-tech economy in the world.

no intervention, why got quota?

 

[kkcheng77]

Six Countries with No Minimum Wage

Countries With The Highest Minimum Hourly Wages In The World, 2019

Minimum Wage or no, You all no need talk shxx liao. This thread can closed. Problem solved. I am going to apply for this job. Bye Bye.

https://imgur.com/GIIFzMD

 

[BBCWatcher]

Buffett favours taxation but I don't see anything about him favouring minimum wage. As far as I can tell, he believes that the free market is efficient in allocating resources.

He doesn't currently favor raising the U.S. federal minimum wage, but he's not opposed to the current U.S. federal minimum wage either. He favors a big expansion of the Earned Income Tax Credit (EITC) since he thinks a much more generous EITC would be more effective in increasing take home pay for more low income workers.

Minimum wages, being a 'hard line', may prevent efficient allocation of resources.

That's a hypothesis, but there's lots of good empirical evidence now that, at reasonable minimum wage levels, it doesn't seem to be a problem in reality. Lots of aspects of our real economy don't exactly, precisely align with the relatively simple textbook models.