Tuesday, March 15, 2016

Singapore has to learn from America in its next stage of development


 


Actually, Singapore has been following America in many aspects of our governance and economic development.

Here are some of the positive aspects of "following America"

a) We achieved good economic growth and prosperity under the global economic system and free trade promoted by America.

b) We achieved a high standard of living and benefit from the modern lifestyle made possible by technology.

We also suffered from the bad aspects of "following America".

a)  We have high income inequality, among the worst in the word.

b)  We have a high cost of living which is too costly for most of the workers.

c) We have high cost of health care and high cost of education, but perhaps not as bad as America.

Bernie Sanders, a leading Democratic candidate, wants to introduce the following policy changes, if he is elected as President.

a) To reduce income inequality by introducing a minimum wage of US $15 an hour over a number of years.

b) To require the top 1% high income earners to pay their fair share of tax by removing the tax loopholes.

c) To introduce a universal health care system and free college education, largely paid for from tax revenues

Singapore should take the steps that are proposed by Bernie Sanders, to overcome the problems faced by the people of Singapore. These problems are similar to those faced by the people of America.


3 comments:

Anonymous said...

If Donald Trump is elected we must follow his policy and don't end up like Europe which is doomed.

Kin Lian Tan said...


Europe is doing fine. Many countries in Europe have high scores in the happiness index. America and Singapore have lower scores.

Tan Choon Hong said...

“Singapore should take the steps that are proposed by Bernie Sanders, to overcome the problems faced by the people of Singapore. These problems are similar to those faced by the people of America.”

This is unthinkable to the top 1% of Singaporeans, which of course includes the government. No one who has tasted wealth that flows from power and privilege will voluntarily give it up.

In The Romance of the Three Kingdoms, it is quoted that “You can’t take meat out of a dog’s mouth” as when Liu Bei after enjoying the benefits of a city loaned to him, refused to return it when asked.

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