The language of collective compassion has been abandoned in the U.S.,
and no politician dare even mention helping the poor.
www.easyapps.sg/sgep/latest.aspx
My view
Many countries, including Singapore, have a wide disparity in income distribution. Some people are super rich but many others are poor. I have said, "to support every rich billionaire, we need many hundred thousand people to be poor". Some disparity of income is necessary to get people to work a little harder, but extreme disparity is exploitation - as it forces the lower income to work so much more hours, just to earn enough to pay for the cost of living.
www.easyapps.sg/sgep/latest.aspx
My view
Many countries, including Singapore, have a wide disparity in income distribution. Some people are super rich but many others are poor. I have said, "to support every rich billionaire, we need many hundred thousand people to be poor". Some disparity of income is necessary to get people to work a little harder, but extreme disparity is exploitation - as it forces the lower income to work so much more hours, just to earn enough to pay for the cost of living.
1 comment:
The rich get richer the poor get poorer. To maintain this' norm' the agency that helps this balance is the insurance agents. How?
The insurance agents never help the poor to get out of the rut by seeing that they get proper financial planning instead the poor make up the bulk of victims the insurance agents fleeced.In stead of advising them and providing the right recommendation of products or vehicles they dump on the poor with rotten, expensive protection and low return WL products and worse the anticipated endowment disguised as cash back.
The insurance agents are maintaining the status quo.They make sure the poor stay poor and the rich stay rich.The rob the poor to make themselves rich and the rich richer.
That is why MAS must change the rules of remuneration and ban commission and to make it a must that every insurance agent comply with section 27 and breaching it will result in a heavy fine. In this way the poor will get proper financial planning. The poor need financial planning more than the rich. They need help and a lot of it.
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