Will minimum wage laws work here?

[frenchbriefs]

better than $3.50 right?

$5 at least can cover 1 meal during working hours. there will always be debate if that 1 hour of work equates to $5.

dishwasher or cleaning table aunties stand and move around. is the $5 reasonable vs a security guy who is paid the same to sit at the guardroom and eye power and occasional patrolling around the premise.

Just because it's super low now....

It's not about what u think another person's job is.u are buying an hour of the person's time.i dunno about u but I think my time is worth at least a certain amount.

I think min wage should be pegged to at least a McDonald's value meal.

 

[Kaypohji]

Do we? I don’t think we have

We basically already have a minimum wage system if you look at it.

The issue is with effective n efficiency or rather productivity. Our numbers are pretty low.

 

[MatrixFanatic]

The problem is not with the minimum wage. The problem is with the middle class and elites living in excessive luxury. SME boss every CNY need to change car, elites need to have multiple cars, yachts and party homes. The obscene amount they earn for taichi-ing the work to the "exploited" foreign workers is the issue.

We can do away with rewarding people studying hard or working hard in life, and Singapore won't make sense. It is not a magic solution, but it works to a larger extent than feeding water to the horse.

 

[PikaPika33]

minimum wage reduce employment rate

 

[spinning_quirK]

better than $3.50 right?

$5 at least can cover 1 meal during working hours. there will always be debate if that 1 hour of work equates to $5.

dishwasher or cleaning table aunties stand and move around. is the $5 reasonable vs a security guy who is paid the same to sit at the guardroom and eye power and occasional patrolling around the premise.

You don't understand.

The market will adapt to minimum wage by modifying the security guy's job duties. Give some credit to the invisible hand.

 

[CSNation]

Ask Andrew Yang

Sent from My Toilet Bowl using GAGT

 

[Kaypohji]

All corporations seek to minimize cost and maximize profit.

So we either cut down the foreign workers quote drastically and control it tightly so they have no choice to employ locals. Demand for labor increase then ultimately they have to increase the salary until a level that can attract singaporeans.

Or

We implement minimum wages to attract local labor in and encourage companies to employ locals over foreigners through some other policies

The problem is not with the minimum wage. The problem is with the middle class and elites living in excessive luxury. SME boss every CNY need to change car, elites need to have multiple cars, yachts and party homes. The obscene amount they earn for taichi-ing the work to the "exploited" foreign workers is the issue.

 

[virtualape]

Cai Ping will become 9 dollars.

just using cai png for discussion sake...for the fun of it.

caipng stall helpers are getting around $1200 a month. Assume they work 26 days a month, thats around $46 a day. 8 hours shift equates to around $5+ per hour.

even if they are paid less than $1200...say $900, implementing a $5/hr min wage wont make much difference to the bottom line.

Cai png price now is between $3-4.50. To charge $9, the workers need to be paid $2.4k or more.

 

[PikaPika33]

in theory minimum wages sound nice and dandy. it helps the poor gets the minimum wages they need to survive.

in practice, firm will just hire less people as the demand shoot up while the supply reduce.
some people get paid more, while more people are unemployed.

another thing is the market will re adjust itself, making cost of living much much higher. in the long term minimum wage will just increase inflation

 

[Why so serious]

The taxation taken by government aren’t given back to the citizens....

If u use that money to raise the citizens’ salary instead, they will in turn spend it to increase their quality of life, spend more which circles around the economy again, and reduce dependency on government.

thats why the topic.... is on minimum wage. u tax and give to citizens as an add on to ppl's salary as a minimum base.

da fug man kaypohji.

 

[cal127]

You don't understand.

The market will adapt to minimum wage by modifying the security guy's job duties. Give some credit to the invisible hand.

Unless a business is having trouble filling a job, which might indicate that they are not offering a high enough starting wage, then there is little reason to raise the hourly rate for that job. The exception is for a gain in skills or ability for an existing worker, thus justifying a comparable wage increase. That is usually incremental and does not typically distort the labor market.

 

[slashGNR]

If we have minimum and decent wages even for low level jobs...more locals will take the jobs and won't rely on foreign workers...looks what's happening now...

 

[khratit]

In US, no.

In Singapore, yes.

There are so many people that it would be good to scare off a few FT centric companies.

 

[virtualape]

You don't understand.

The market will adapt to minimum wage by modifying the security guy's job duties. Give some credit to the invisible hand.

exactly...they want to squeeze more out of that min wage amount to make their money's worth.

as a business owner, im against min wage. as an employee, im all for it. the challenge is to find a balance.

 

[Kaypohji]

Few years back, Singapore government was encouraging people not to study until degree. Too many degree holders.

We can do away with rewarding people studying hard or working hard in life, and Singapore won't make sense. It is not a magic solution, but it works to a larger extent than feeding water to the horse.

 

[1SMRTPAIB]

We basically already have a minimum wage system if you look at it.

The issue is with effective n efficiency or rather productivity. Our numbers are pretty low.

unless u r pointing us to the politicians and the ft/fw

 

[MatrixFanatic]

If we have minimum and decent wages even for low level jobs...more locals will take the jobs and won't rely on foreign workers...looks what's happening now...

No way. Singaporeans won't take the so-called 'menial' jobs. Like I said, there's no culture of having pride in whatever you do.

 

[MatrixFanatic]

Few years back, Singapore government was encouraging people not to study until degree. Too many degree holders.

Oh yeah. That's good. Else we will be like the massive amount of Taiwanese who has to come to Singapore to work in MUJI.

 

[Kaypohji]

I thought u mean increase the corporate tax rate that the current government is taxing them.

I understand minimum wages work the same way... but I feel instead of increasing corporate tax etc, having minimum wages directly is better.

It is same in theory but different when practicing it... giving the money directly to the citizens hand.

thats why the topic.... is on minimum wage. u tax and give to citizens as an add on to ppl's salary as a minimum base.

da fug man kaypohji.

 

[RedEyesFan]

No way. Singaporeans won't take the so-called 'menial' jobs. Like I said, there's no culture of having pride in whatever you do.

It is just you who won't take such jobs.