Thursday, January 7, 2010

Singapore workers clocked most hours save most and yet still not enough

From: bear
Subject: Re: Singapore workers clocked most hours, save most and yet still not enough
On Jan 7, 10:50 pm, "truth" wrote:

This is also why everyone has not enough balance left for retirement.
One depletes his CPF by overpaying for the property, and as the
mortgage is high, the compounded interest eats away more saving.

Singaporeans productivity is high enough for them to retire at 40 at
lower cost neighboring countries, anytime, if not being over taxed.

> Singapore workers clocked the most hours. They also
> saved the most 40%. Yet when they retire, they don't
> have enough. This is indeed very strange. Somebody
> must be stealing their money.
> Yes indeed Singaporean workers money are stolen
> by the papist leegime. This is how they have stolen and
> are stealing Singaporeans' money:

> 1. By overpricing public housing. Singaporeans have to
> work so hard and save so much just to barely be able
> to service their mortgages over 30 years. Of course
> the high price will give huge profits to the papist leegime.
> That is why they are so rich with over US$600 billions
> while Singaporeans have hardly enough to retire.
> 2. By paying low interest rate on cpf balances. The
> papist leegime take Singaporeans cpf balances to invest
> all over the world to make 8% return as claimed by LKY.
> On the other hand, they only paid Singaporeans less than
> the inflation rates for so many years. It was only until
> recently, that they have increased the rate slightly. It is still
> below what they made. They are still cheating but a little
> less.

> 3. By increasing indirect taxes. All government services
> are run like a business with MBO and profit margin. So
> everytime you use a government service, the profit is
> rolling into the coffers of the papist leegime. The 2% hike
> in GST was meant to help the poor. $billions or extra
> revenues were collected but so little has been spend on
> helping the poor. This is cheating.

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