Will minimum wage laws work here?

[arm4da]

so you're advocating for 1st world living, 3rd world celery??

and you think minimum wage is the answer? raising the cost for small businesses across the board is never a good thing.

look at this the other way. Some countries have ridiculous minimum wages and hence they have higher job losses.

ridiculous for whom?

 

[vinn]

i think minimum wage should only be applied to those lower income
blue collars job.

but wat do i know. once we oppose to any idea by any opp parties, we
automatically be painted as pro pappy in edmw

 

[xsurycx]

u cant make everyone happy.

 

[panda_san]

15k per mth salary minister surely can tink of ways to increase wages without imposing min wage bah

 

[tutukueh]

Explain this, if rich people have higher taxes, then why should overseas companies invest in Singapore if you are charging them skyhigh taxes. Plus why would overseas millionaires want to migrate to SG since it's a tax haven currently?

Without such people how can we progress economically, since now we are overdependent on foreign investments? As you said we have no natural resources, how can we progress from here without foreign investments if they avoid us because of taxes.

So how is having higher taxes for the rich any difference from having a minimum wage?

Do you even catch my sarcasm? I am implying broad based minimum wage by taxing the rich (esp foreigners) will simply NOT WORK in our small open economy!

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[tutukueh]

i think minimum wage should only be applied to those lower income
blue collars job.

but wat do i know. once we oppose to any idea by any opp parties, we
automatically be painted as pro pappy in edmw

there is simply no middle ground in edmw. You cannot support opposition and YET oppose some of their stupid policies like minimum wagem

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[nyvrem]

let's impose maximum wage !

nobody can earn more than $3,000/month unless your surname is Lee, then you can earn up to $14,999/month. But of course other surnames such as Tan and Ng will be given consideration, depending on how closely linked they are.

 

[tutukueh]

15k per mth salary minister surely can tink of ways to increase wages without imposing min wage bah

I do support this. I hope we can slash salaries of all ministers/mps in SG to feed the destitute.

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[zijie1990]

I agree with TS and i give the following reasons in support.

Firstly, min wage is very hard to set. If you set it too low then what's the point, too high then there would be too much unemployment in the economy. Government can never be as accurate as Adam's smith invincible hand at allocating resources in the economy.

2. The min wage will be applied across many industry sectors, not just one. It must be of substantial amount so this would mean companies hiring below min wage have to fire some workers and shift to alternative sources like robots. This leads to more unemployment. And also because it is a forced minimum, the needs of the various sectors in a dynamic changing economy will not be quickly reflected. Sure they can fire workers but then this transition period takes far longer than simply adjusting wages to economic moods. If the company responds responds slowly to changing tides in the economy then this will lead to more losses and further unemployment.

3. It is misguided that companies will invest in these workers. We are talking about the lowest common denominator here. No incentive whatsoever to invest because there is no bond attached to the workers. They can just run away after the training.

4. Lastly min wage increases the cost of businesses especially start ups because they might not be able to afford expensive robots. Higher barriers to entry mean less competition in the market and less jobs for all.

As for real world examples please refer accordingly. https://sg.news.yahoo.com/why-implementing-minimum-wage-singapore-080211161.html

Cheers!

 

[Eternal-fire]

Do you even catch my sarcasm? I am implying broad based minimum wage by taxing the rich (esp foreigners) will simply NOT WORK in our small open economy!

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So you are pretty much saying the poor are fugged and nothing can be done to help them huh?

 

[tsuyuri]

if companies pay their top just a bit lesser, can pay a lot for lower income group.

 

[tutukueh]

I agree with TS and i give the following reasons in support.

Firstly, min wage is very hard to set. If you set it too low then what's the point, too high then there would be too much unemployment in the economy. Government can never be as accurate as Adam's smith invincible hand at allocating resources in the economy.

2. The min wage will be applied across many industry sectors, not just one. It must be of substantial amount so this would mean companies hiring below min wage have to fire some workers and shift to alternative sources like robots. This leads to more unemployment. And also because it is a forced minimum, the needs of the various sectors in a dynamic changing economy will not be quickly reflected. Sure they can fire workers but then this transition period takes far longer than simply adjusting wages to economic moods. If the company responds responds slowly to changing tides in the economy then this will lead to more losses and further unemployment.

3. It is misguided that companies will invest in these workers. We are talking about the lowest common denominator here. No incentive whatsoever to invest because there is no bond attached to the workers. They can just run away after the training.

4. Lastly min wage increases the cost of businesses especially start ups because they might not be able to afford expensive robots. Higher barriers to entry mean less competition in the market and less jobs for all.

As for real world examples please refer accordingly. https://sg.news.yahoo.com/why-implementing-minimum-wage-singapore-080211161.html

Cheers!

nothing will go into the brains of zombies here. They will starting labeling one as dog, selfish, pap ib.. Etc

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[flybynight]

i think minimum wage should only be applied to those lower income
blue collars job.

but wat do i know. once we oppose to any idea by any opp parties, we
automatically be painted as pro pappy in edmw

It should but it'll reach a point where a lot of workers' wages will also increase. Otherwise the person who is earning less now will overtake the person who is doing a more complex job

 

[tutukueh]

So you are pretty much saying the poor are fugged and nothing can be done to help them huh?

you are too intelligent to warrant any further debate. Please adjourn your discussion with HHH. Her style of discussion should suit your taste.

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[Havok_ex]

let's impose maximum wage !

nobody can earn more than $3,000/month unless your surname is Lee, then you can earn up to $14,999/month. But of course other surnames such as Tan and Ng will be given consideration, depending on how closely linked they are.

I know you're just trolling. But in case it gains traction, maximum wage is an even worse idea than minimum wage.

For example, Bill Gates got very rich when Windows 98 was released. If there was a maximum wage and he couldnt earn any more, then he wouldnt have continued on with newer versions of windows and we would still be stuck at windows 98.

The gist is, once people have reached the max amount they can earn, they'll just stop working harder and coming up with new ideas. As a whole, society will be less well off.

 

[tsuyuri]

it is also stupid to say that investors will be unhappy and all will leave.

for every investor that leaves, 10 are happy to replace to get the opportunity.

 

[flybynight]

I agree with TS and i give the following reasons in support.

Firstly, min wage is very hard to set. If you set it too low then what's the point, too high then there would be too much unemployment in the economy. Government can never be as accurate as Adam's smith invincible hand at allocating resources in the economy.

2. The min wage will be applied across many industry sectors, not just one. It must be of substantial amount so this would mean companies hiring below min wage have to fire some workers and shift to alternative sources like robots. This leads to more unemployment. And also because it is a forced minimum, the needs of the various sectors in a dynamic changing economy will not be quickly reflected. Sure they can fire workers but then this transition period takes far longer than simply adjusting wages to economic moods. If the company responds responds slowly to changing tides in the economy then this will lead to more losses and further unemployment.

3. It is misguided that companies will invest in these workers. We are talking about the lowest common denominator here. No incentive whatsoever to invest because there is no bond attached to the workers. They can just run away after the training.

4. Lastly min wage increases the cost of businesses especially start ups because they might not be able to afford expensive robots. Higher barriers to entry mean less competition in the market and less jobs for all.

As for real world examples please refer accordingly. https://sg.news.yahoo.com/why-implementing-minimum-wage-singapore-080211161.html

Cheers!

Sad but true especially gone are the days that people work in one job for their entire career. As workers can more mobile, they'll job hop thus making companies less willing to spend good amount of money to train workers

 

[LHC987]

Detractors please enlighten how Minimum Wage can help our poor and YET maintain our economy as it is today. Kindly enlighten.

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You can't. The idea is to redistribute some of the wealth.

I haven't made up my mind about minimum wage. Problem is that too much of the studies are focused on US, which is just too different from Singapore.

 

[ParkJinYoung]

if companies pay their top just a bit lesser, can pay a lot for lower income group.

Top earn less means they are corruptable leh

 

[Eternal-fire]

you are too intelligent to warrant any further debate. Please adjourn your discussion with HHH. Her style of discussion should suit your taste.

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You are too intelligent to even explain or write clearly. Please stop trying to give everyone cancer.