Wednesday, May 02, 2012

Farbird's May Day Message

May Day was just over and what did your Labour Minister tell you besides echoing his superior?

Increase productivity!
More productive = More salary!
Don't be lazy or complacent! 

Besides telling you common sense that you'd already know about working, what else did he/she tell you?

For those whom are expecting the government to give advice on money and work, don't bank on it.

The salary of the minister is pegged to the average amongst the top earners in Singapore.
The bulk of income tax collected is collected from the middle class in Singapore.
A small part of the wealth in Singapore is allocated to help out the poorest in Singapore.

If you are smart enough to do the maths, you will know that it'd be in good favour to the ministers, if they:

1) Ensure constant salary cum bonuses for the top earners in the private sector

2) Ensure as many of the population stays in middle class

3) Help with as little as possible so the poorer quickly progress to middle class and start paying taxes

With regards to item 1, "maybe" many of them hold top management positions in companies owned or partially owned by Temasek Holdings, thus ensuring that the top earners salary can/may be somewhat benchmarked by themselves in their own holding group.

For item 2, "maybe" they must ensure a very standard Bell Curve deviation of the wealth classes segregation in the country to make it easier to control and manage the economy.

For item 3, in my opinion, it's probably the only good thing that they are doing.

Enough of the bureaucratic charismatic speeches that means nothing to the current middle class of citizens here.

Here is my simple May Day Message [ strictly from a middle class to another middle class ].

You hold a stable job.

Your career advancement is reaching a plateau [ Please do not dream of becoming CEO ]

The income generated from this stable job is no longer sustainable with the rising costs of living, transport, food, etc [ "maybe" due to prices which our govt doesn't help to normalize so as to ensure the middleclass stays middleclass ]

You better be having a secondary income from your spare time!

Why need to have a secondary income?

1) It helps offset some rising costs of living
2) It is tax free
3) If most of the foreign talents [ aka new residents ] are doing it, why should we be lazy and complacent?

My summarized May Day message for all middle class citizen.

Go and earn some spare cash
with whatever skills and time available,
instead of waiting for handouts.

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