My Facebook survey showed that 86% of the respondents prefer to have "modest income with greater income equality" instead of "high income with greater inequality".
In this Facebook note, I have made a few suggestions on how to achieve greater income equality - high marginal tax rate on the very rich, minimum wage policy and unemployment benefit. Without these measures, like in Singapore, we will have a high Gini index. We have to implement these policies, like most advanced countries, to reduce the Gini index and to reduce the stress of living in Singapore.
In this Facebook note, I have made a few suggestions on how to achieve greater income equality - high marginal tax rate on the very rich, minimum wage policy and unemployment benefit. Without these measures, like in Singapore, we will have a high Gini index. We have to implement these policies, like most advanced countries, to reduce the Gini index and to reduce the stress of living in Singapore.
One of the reasons the birth rate is declining in Singapore is because of the insecurity of jobs. I suggest unemployment benefits to cover families with children so that when the breadwinner loses his job, at least his children do not have to suffer. Perhaps can tie up with charities such as ST pocket fund to at least ensure the children have pocket money for food during recess.
ReplyDeleteDear Mr, Tan,
ReplyDeleteDid you mean to say: /... 86% of the respondents prefer to have "modest income with greater income EQUALITY (instead of inequality)"/
@5:50 pm
ReplyDeleteYou are right. I have corrected the posting now. Thanks