Will minimum wage laws work here?

[mummy1234]

If LHL is not into politics, he could have easily earn more in the private sector like his brother.

Basically, non-elites who cannot make it privately are more willing to enter politics.

While the elites will try to go to private if the incentives in government office are not appealing enough.

Why is everything linked to money? I would rather be led by leaders who r not moneyfaced and who r truly passionate about their jobs then people who only do it cause of money.

 

[mummy1234]

A country will prosper when people want to work hard to become the successful rich people they see. A country is in decline when more and more people start to become hatwesers and just want to bring down people who are richer than them.

Of course the lowest income group who r struggling to get by everyday would hate the system. That is only natural.

I am not communist by the way, I know we r in a Capitalist system. But capitalism seems a bit extreme for me in Sg. I think I am a socialist at heart.

 

[mummy1234]

Make him more salty.
https://blog.moneysmart.sg/career/ceo-salary-singapore/

Min-Liang Tan Razer $11.98 million.
This one sure make his eyes pop out.
Wonder why the major shareholders like Lee Hsien Yang, Li Ka Shing, Koh Boon Hwee, Wee Ee-chao, Robert and Michael Hartono & Vincent and Robin Tan don't object to his pay.

Razer share price is left only with HK$1.63 now (as low as HK $1) from its high of HK $4.31 <2 years after ipo.
If Singapore economy performs like that........

Meanwhile in USA....
https://www.investopedia.com/highest-paid-ceos-2019-4687532

He is a smart guy and self made success story. The brother is also quite a genius Dr and scientist.

 

[Merg91]

How about all pay 40-60% income tax +GST 20%?
Even heavier property tax esp landed.
But definitely these big pool of money is better to help out the poor.

But these hurt 'socialist' mummy's pockets.
Not agreeable to her for sure.

 

[Toni90]

Why is everything linked to money? I would rather be led by leaders who r not moneyfaced and who r truly passionate about their jobs then people who only do it cause of money.

Can lah. Move to Malaysia and be led by Dr M.

 

[mummy1234]

How about all pay 40-60% income tax +GST 20%?
Even heavier property tax esp landed.
But definitely these big pool of money is better to help out the poor.

But these hurt 'socialist' mummy's pockets.
Not agreeable to her for sure.

U siao ah, 40-60% income tax? That would chase away the ultrarich.

 

[mummy1234]

Can lah. Move to Malaysia and be led by Dr M.

Malaysia is my second home cause my parents were born in Malaysia.

 

[limster]

How about all pay 40-60% income tax +GST 20%?
Even heavier property tax esp landed.
But definitely these big pool of money is better to help out the poor.

But these hurt 'socialist' mummy's pockets.
Not agreeable to her for sure.

I suggest we pass a rent control act so that the poor and homeless can stay in spare condos and apartments owned by doctors at a nominal rate. why should HDB bear the burden?

Each person only needs 1 residence to stay in, all those extra private condos and apartments should be provided to those who need them.

 

[d9_lives]

Why is everything linked to money? I would rather be led by leaders who r not moneyfaced and who r truly passionate about their jobs then people who only do it cause of money.

Are you not moneyfaced?

You have the required skills, plenty of time and a lot of money to help the needy people.
I don't see you talking about opening your own clinic to help the needy people, F.O.C.
I only read about your buying of $$$ landed property and to profit from it.

So...What exactly have you done to help the needy people?

 

[Merg91]

20% for ultrarich.
Razer CEO would be paying $2.4 million but definitely much more than us in $.
60% for 'poorer-rich' at your income category.
The most you pay $100k.

He & the many ultrarich won't run away.
I am sure you will not move to Iskandar.

U siao ah, 40-60% income tax? That would chase away the ultrarich.

 

[fzhfzh]

Income tax just squeezes the middle class. Ultra-rich don't pay income tax. Their money comes from capital gains.

 

[mummy1234]

Are you not moneyfaced?

You have the required skills, plenty of time and a lot of money to help the needy people.
I don't see you talking about opening your own clinic to help the needy people, F.O.C.
I only read about your buying of $$$ landed property and to profit from it.

So...What exactly have you done to help the needy people?

I am helping others by working as a doctor.

 

[mummy1234]

Income tax just squeezes the middle class. Ultra-rich don't pay income tax. Their money comes from capital gains.

Everyone pays income tax. Those earning very little gets exemption from income tax.

 

[Toni90]

I am helping others by working as a doctor.

By pretend working as doctor loh.

 

[fzhfzh]

Everyone pays income tax. Those earning very little gets exemption from income tax.

You don’t quite understand how money works. If I’m rich, most of my money will be invested in either my company if I’m entrepreneur, or the stock market or real estate. When these appreciates, and I sell them to make money, it’s considered capital gains and not income. These are not taxed. Most of these people have close to 0 regular income, some might pay themselves 1 dollar.

 

[Merg91]

No corporate tax?
Even dividends are taxed in some countries.
The rich pay more in taxes in properties, cars, GST.

 

[fzhfzh]

Dividends are taxed in singapore as income, but capital gains is different. eg. my parents have couple of million in stock market, most of the stocks are 0 dividend stocks. They appreciate about 10-20% a year. My parents sell 100-200k worth of them every year. The 100-200k are capital gains tax and not taxed at all.

 

[d9_lives]

I am helping others by working as a doctor.

Let me use your words...

"I would rather be treated by doctors who r not moneyfaced and who r truly passionate about their jobs than doctors who only do it cause of money".

Are u that doctor?

 

[limster]

No corporate tax?
Even dividends are taxed in some countries.
The rich pay more in taxes in properties, cars, GST.

the normal rich who only have one company probably cannot escape corporate tax. the super rich companies can try to escape tax by parking their profits in tax havens or even get to pay negative tax:

https://nypost.com/2019/02/14/amazon-paid-no-federal-taxes-again/

 

[Mecisteus]

Why is everything linked to money? I would rather be led by leaders who r not moneyfaced and who r truly passionate about their jobs then people who only do it cause of money.

If PM pays $30k per month only, you will attract the less than capable and low profile people. Those who are more elite wouldn't want to be in the politics.

You prefer it that way?