Subject: CPF contribution rate
In the old days, Lau Lee said the "right" CPF rate should be 50% for
workers in age group up to 55.
After the recession in the 80s, LHL mentioned the "correct" CPF rate
should be 40% because our wage cost was too high then.
Now our NTUC chief said the "correct" CPF rate is 36% when in reality,
it ranged from 34.5% to 10% depending on age of workers.
So what should be the "correct" CPF rate ? or are they making up the
numbers as they go along ? or they have no idea what is the right CPF
rate but too afraid to admit it ?
For one thing, Ngiam Tong Dow was right about the CPF rate, it should be
fix at 30% and leave it at that because constantly meddling create too
Don't forget, a high CPF contribution rate will cause over consumption
in housing, medical and education needs.
This is why Sgian should stop voting for PAP, because the more they
meddle, the more they create.