Will minimum wage laws work here?

[testart]

I hope he don't go fight min wages for domestic helper.

 

[notical]

Minimum wage is redistribution of wealth. Inflation is an effect and result because that makes capital worth less but labor worth more.

Which is bad for labor exploitation sorry I mean inheritance sorry I mean meritocracy.

I do not think that the opposition should focus on minimum wage now, as implementing them would not solve the problem, which is the diminishing size of the middle class (of which a portion are SME bosses). Having a minimum wage won't push those at the bottom into the middle class, but instead squeeze the middle class more and further widen the gap between upper class and middle class. At least, that's what I think.

 

[bakuten]

Workfare = everybody chip in abit to topup low wage earner salary.

Min wage = companies forkout extra money above market rate.

Ppl calling for min wage basically unwilling to chip in abit for their own belief in paying low wage workers more.

They just want to virtue signal....ask somebody else to pay for their own beliefs. Shows u how much heart they really have for the low wage earner.

All talk but no action.

Lol...all pretend not to see this si bo.

Typical behavior of virtue signallers lol

 

[UptheToon]

Min wage only helps the current pg/mg working as cleaners. Most of them will be gone in about 10-15 years.

No point having the middle class to spend more for the current gen cleaners etc to earn slightly more through min wage. And they have been voting for all these years we also know.

Most sinkies in future will not be working as cleaners and those jobs will be filled up by fw.

 

[KnyghtRyder]

And while they are busy upskilling what will they live on?

 

[tamago_]

again answer is simple

1) if costs go up, price goes up, consumer pay higher price. consumers not affected. then obviously sinkies are rich enough yet still always demand cheap stuff.

2) if cost goes up, prices goes up, consumers not willing to pay higher price. profits drop. then management needs to find a way how to keep costs lower without exploiting their lowest wage employees.

3) if costs goes up, prices remain same, consumers not affected. company only earn less profits. who gives a fug?

No problems with that. I also pay my favourite hawkers more, I scared they collapse. I just ask for $5, give me a mix of everything, when the basic is $3. But I think we need to be upfront to the public that prices will increase.

 

[notical]

Which one are you referring to?
Now is talking minimum wage.
The foreigners you referring to are 1300 (Jamus minimum wage) level?

That's what I'm finding out from you.
I'm not referring to anyone, finding out from you that's why the question.

Oh, I'm on a different topic. I'm just stating my opinion that Jamus shouldn't be focusing on minimum wage, but instead put the effort into increasing the number of middle class people.

 

[Mars84]

Boils down to CPF. CPF should not be used for housing but serve as retirement fund to provide when aged or sick.

 

[evildoer]

You are saying it is too painful, too much money to give 100,000 low salary workers some extra money?
And everyone is happier that degree holders and Directors have their $7000 and $30,000 monthly salary.

I do not know how to tell u this.. but the truth hurts

if u are thinking the director are going to foot the bills of minimum wage.. and i can tell u no director will be willing to do that...

 

[miketay90]

you can argue till the cows come home and not reach a conclusion because at the end of the day there are pros and cons of every policy.

initially i think min wage is a good idea (as long as its not set above what is sustainable), but on second thoughts does that mean min wage applies to FW also? yet if it applies to FW also, will it make them less attractive vis a vis locals?

there can never be a perfect answer

 

[CaptainTeo]

U want to be postman

 

[evildoer]

Nobody can control private companies. Even if need 3 cleaners to do the job, they will only employ 2 cleaners. Otherwise they will just raise prices to support 3 cleaners. It's reality vs theory. You assume everyone is a nice guy but the world runs on profits.

In short, we cannot complain if prices go up by another $1 or more if we support minimum wages. We cannot be hypocrites.

i don't know about other company.. usually a cleaning company will have to put in contact the manpower deployment..

if u are a mcst , signing a cleaning contract .. that is one of the most important clause in the contract ... so the cleaning company cannot suka suka today depoly one cleaner tomorrow ten...

 

[Why so serious]

I do not know how to tell u this.. but the truth hurts

if u are thinking the director are going to foot the bills of minimum wage.. and i can tell u no director will be willing to do that...

then when they start to cut ppl at the frontline, ask the director to go fill in the holes.

no wonder companies cant survive through any crisis

 

[fox1]

Boils down to CPF. CPF should not be used for housing but serve as retirement fund to provide when aged or sick.

Yes, minimum wage boils down to CPF.
Boil down CPF more, become education qualifications, so everyone must be allowed to go to university.
Boil down some more, most build more uni. Boil some more.... ... ...

 

[sharpsnapper]

More numbers.

More than 10,600 companies tap S$9.4b of loans through Enterprise Singapore over last 4 months: Chee Hong Tat (July 2020)

On average each company requested $940,000 from the government.

And some people here are saying helping 100,000 low income Singaporeans are bad, very bad. They think everything becomes more expensive because poor people has $200 more in their pocket.

 

[MegatonNev]

I do not think that the opposition should focus on minimum wage now, as implementing them would not solve the problem, which is the diminishing size of the middle class (of which a portion are SME bosses). Having a minimum wage won't push those at the bottom into the middle class, but instead squeeze the middle class more and further widen the gap between upper class and middle class. At least, that's what I think.

I agree that the middle class gets impacted most from the implementation of minimum wages.

Business owners would absorb cost up till a certain degree and pass it to consumers.

 

[Prismatic]

Most discussion about minimum wages revolves about prices going up. There is data that shows minimum wages lead to moderate redistribution of income and helps involuntary unemployment (mostly). Effects on social mobility (whether workers move on to higher value work, skill levels) are much more unknown. This is similar to the give-fish vs give-rod argument.

Things will really get interesting if there is deflationary pressure which is always a constant risk for developed nations. Since it is almost politically unpalatable to reduce minimum wages during a depression, minimum wage will be become a fixed cost burden to companies. When that happens, it will be much harder to retain jobs.

 

[miketay90]

even the PAP is able to recognise this and they themselves have stated that singapore does not have minimum wage because it would be set so low that it would be make setting a minimum redundant!

i hate responding to IBs but i want to bring everyone focus to this very amazing(ly stupid and circular) rationale

 

[sunzoner]

Actual financial impact of min wage on the consumer is less than 0.1% of the median wage.

Example
Food stall assistant Total Wages : 1,200
Min Wage: 1,300
Increase by $100. What is the impact to consumer?

Assume 1: food court stall hire 1 assistant. COst increase = $100
Assume 2: Staff sells 100 bowls of food per day = 3,000 bowls per month (100 X 30)
This works out to $0.033 per bowl (100 / 3,000)
Assume 3: Eat one bowl per meal per day. $2.91 per month (0.033 X 3 X 30)
Median wage for Singapore: $4,563
Impact of increase to Singapore worker: Less than 0.01%(2.91 / 4,563)

MOM
<Source: https://stats.mom.gov.sg/Pages/Occupational-Wages-Tables2019.aspx >

Median income
2019: 4,563
<source: https://stats.mom.gov.sg/Pages/Income-Summary-Table.aspx >

 

[evildoer]

then when they start to cut ppl at the frontline, ask the director to go fill in the holes.

no wonder companies cant survive through any crisis

The cleaning contact cannot suka suka just change deployment.. meaning we can't cut as we pleased

if we are talking about low wages job.. it probably require no skill.. on job training would be sufficient .. The turnover are high, but still manageable... we still can get FW if needed.