Is Being Poor Your Fault? | TDK #60
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- Опубликовано: 7 сен 2024
- Does it really matter that the rich are getting richer? How hard is it to be poor in Singapore? Is there enough support for vulnerable groups (e.g. low-wage workers & elderly)?
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Cast:
• Johnathan Chua / johnathanchua
• Daniel Lim / danlim11
• Jonathan Paul / jonathanpaul.sxw
• Denise Oh / ohthedenise
Guest:
Donovan Choy / donovanchoy
Behind the Cam:
• Nashrul Merza
• Julian Chin
• Hisyam Osman
• Daren Khek
• Deborah Lee
Edited by:
• Haikal Mohd Развлечения
Happy that podcast don't shy away from such conversation. Perhaps consider inviting experienced social workers who work with the poor people and disadvantaged family to share about the red tapes, bureaucracy and other reslistic issues they face on the ground. You can also consider invite Teo you yenn, the author of "this is what inequality looks like".
How equal is the starting point when people with resources can send their children for plenty of enrichment prog and tuititons and their kids will naturally achieve a bit more or have a headstart in formal education. You will wonder, are we as equal as we thought we are?
Perhaps equity is a concept what we should look at too. Equity means giving more resources and access to the poorer and disadvantaged so that they start on the same foot as the rest, and during the entire process. So perhaps there are certain "Blocks" in the policies and structures that we currently face.
I think GST hike will hit the middle class the hardest....
They will be paying more but the govt will not be helping them (as much)
Middle class will pay more than higher class? Probably those middle class who want to act like higher class will pay more.
Btw the gov had came up with packages helping all middle class and also the lower class. The higher class gets zero help.
Honestly I really feel for the old people that have to work at hawkers or shopping malls as cleaners, imagine doing hard labor, living pay check to pay check till you pass. I think that's one group of people that needs our help.
also did any of you see the statistic that public toilets in Singapore have gotten dirtier and dirtier from 2016-2021. The govern really needs to put more funds into maintenance and servicing, considering that it not only makes the lives of our cleaners harder. But it affects the QOL of those living in the heartlands(kinda)
Probably you have never speak to them, and just assume the old folks are poor.
My 80 year old mother in law is illiterate but has been hard working, prudent and active all her life...she has a few hundred thousands in savings.
She still want to work in kopi-tiam as cleaner happily,.to have an income.
@@chitchat3838 ooo yes my mum said that there's a cleaner in her office that lives in a condo, but chooses to work still. But I'd assume that these cases are a dime in dozen. Just looking at the coffee shop near my house some of them even have trouble walking from table to table.
The public have a responsibility to use toilets considerately. We can't leave it to cleaners or govt to clean up.
FYI, construction workers and tradies in Aus are paid very, very well. Never lacking business too.. Very good trades!
Is the economy of Australia even similar to Singapore ?
I feel that a lot people miss the mark about income vs capital receipts. The average joe, that depends on monthly income will be subject to the income tax. However, the super rich that owns businesses and stocks would avoid paying so much under the progressive 'income tax' and file their earning as 'business income' and 'capital receipts', allowing them to apply for deductions for expenses.
Not everything can be deducted for expenses.
Pte Ltd company has to pay corporate tax and the owner of the company has to pay personal income tax. Seems like double taxation to me if I own a pte Ltd company.
Dividends are taxable.
business tax is higher than personal tax i think
@@Jack-hy2ki yes they pay both personal and corporate income tax, iirc the highest tax bracket is about 40k+ with a rate of 22% after 320k for personal tax and corporate tax is a flat 17%. A savvy accountant working for them could possibly work out a way and allow him to file at a way lower tax bracket (avg is 7%) or even lower, and the rest as corporate tax.
in the end, yes they pay more tax then us but not to the extent they should be.
(ps, all this is from memory when i studied tax in uni, not very accurate.)
@@DerrickNinon if we were to talk about the super rich their bracket is at 22% while corporate tax is at 17%.
If you plot the rate of getting rich (y) with net worth (x) its an exponential curve man. if you are poor you find it hard to accumulate wealth, as you get richer and richer it gets easier and easier to accumulate wealth. Rich getting richer is ok but must get richer morally and not by exploiting other people thru underpaying and overworking their workers in their company.
Also the way we value and pay workers in different industries is very unfair, we know we need more waiters, cleaners, teachers, social workers, and engineers to name a few but we continue to pay peanuts compared to finance Bros because the way we decide the pay is how easy is the job and how easy it is to train someone to replace you not the value contribution to society.
The social wealth also, connections effect is real, we should not unequally tax wealth but we should make it such that your family net worth will not affect your potential and opportunity positively or negatively. The education system is one such example of where there are obvious well-known systemic loopholes that can be exploited so that the opportunity is not equal and it can be fixed but little is being done to address it.
I think that most people are concerned about equality of opportunity not equality of outcome.
Intergenerational wealth is one issue. If there is equality of opportunity in Singapore you would see that wealth would still distributed unequally except that it would be different people of different generations holding onto the wealth at different periods of time regardless of the circumstances that they were born in.
Being born in Singapore is like living off the roll of a dice.
Being born -in Singapore- is like living off the roll of a dice.
Living everywhere is the same.
This channel is way too underrated. I really appreciate everything ya'll did!
Love the frequent uploads! Keep them coming! Loyal supporter here!
My own take on some issues:
People who want the income from the rich to be taken and redistributed for the sake of "equality", does everyone put in equal efforts or produce equal value of work in the first place? I do agree that there should be safety nets to help those who are really falling behind due to extreme circumstances, but it should end there. There's many who don't provide value and then complain about how unjust the entire world is.
There's many elderly who are stubborn and just refuse to keep up with technology. Should the whole world stop improving and advancing just to accommodate to them?
As for trade workers, as far as I know other countries usually have requirements that make it very difficult to hire foreign workers, which is why they are able to take up such jobs as careers. I personally find it to be quite anti-competitive on the global level. As a consumer, I rather have global access to resources than just local ones.
If you really want to dig deeper into this, recommend you to reach out to Prof. Teo You Yenn or read her book "This is what inequality looks like". It also begs the question why are some professions valued more than others eg social worker vs lawyer. Also, who determines that.
The free market
@@chitchat3838 is it really a free market when there are players / companies who become big enough and have enough influence to control the market?
Maybe the best students tend to choose to become lawyers due to the demands of the profession and that garners respect in some way?
No lah the argument for reducing inequality is not only about equalising after the rewards are given but also before. It's the notion of what's a fair reward for the work that you do. Is the CEO really worth 200x more than the lowest rung worker? Can more benefits be given to workers/society if profits are lowered? Can shareholders be given lesser so that the workers can earn more? There's a bit about tax and so on, but the vibe I get from this conversation is that extreme equality is impossible (Gini 0), therefore any notion of asking for more equality is ridiculous and thus we shouldn't try.
Correct me if I'm wrong
But Gini Coefficient is not about how much u money you have in the bank but how unequal the income is. So Gini coefficient is based on the Lorenz curve. A simple way to think about is plotting income against which income class you are on an X Y plot. X being your income class so like the bottom 10%, 20%, 30% so on and so forth while Y is the income each class earns. We then compare it to a right-angle triangle. The closer the curve is to the right-angle triangle the less inequality there is within the country.
Still appreciate the topic you guys bring up
The problem then is that who wants to work in the lower rungs like nursing or social welfare? In the pandemic, SG already found itself short of nurses. And in the long run, SG cannot keep relying on foreign nurses. So it is their choice to work there but should they be compensated as well as people in finance for the greater good of society? We can do with fewer bankers but when you are sick, you NEED a nurse.
If you are born poor it's not your fault but if you die poor it's your fault.
Really enjoying the podcasts yall put out!!
Tho, I feel that some of the opinions shared in the discussion comes from a very privileged POV? As though people of lower income actively make certain decisions like not learning the internet or not going into a more lucrative industry, which keeps them poor. While I’m sure that there are some people like that, think it’s a little dangerous to make such a generalisation.
Wished y’all had been a little more nuanced and maybe talked about the flip-side - sharing the plight of low-income families and how it might be more difficult for them to put in time and resources to up-skill themselves, to get better jobs or better education.
Anyways, looking forward to the next one!
I like Jack Ma's "If you are still poor at 35, you deserve it." to motivate myself. I intentionally have neither a TV nor Netflix sub (got that CDC card!) to spend time more productively.
Nah bro, that's just straight up bs from his mouth. No matter how motivated,how much drive to push yourself to having the mindset to make a difference, there are still limitations that you will have to faced just to reach your goals. Healthcare in your family, your own personal challenges that's causing monetary problems will still slow you down. The proper sentence should be tho you leave this world despite being poor, but you tried all sorts of ways with a positive mindset to make a difference in yourself, that's what gives you a goal/meaning in life.
The real question that should be asked is affordability. This elephant in the room was not addressed. Namely affordability of public housing. Which is the most essential item apart from food and water. Median Price to Income (PIR) Ratio for HDB (e.g. 4 rm BTO $347K for a couple with combined income of $6.5K, (PIR 6.8) puts it firmly in the "severely unaffordable " category) has gone through the roof (pun not intended).
Using the PIR, middle-income housing can be categorized into “affordable” (PIR 3.0 and under), “moderately unaffordable” (PIR 3.1 to 4.0), “seriously unaffordable (PIR 4.1 to 5.0) and “severely unaffordable” (PIR 5.1 and above).
This inevitably will have a knock-on effect to the private residential property and rental sectors too.
Is jon checking his investments this ep 😂 loved donovan's input this ep!! Pls have him on more
i think misconception that a gov has to budget like a household, i.e. save before u spend. a gov doesnt have to save before spending, if a country is a sovereign issuer of currency
It’s so refreshing to see so much wisdom from young people! Keep up the good discussions, guys!
i still dont get the decile thing that Dan is talking about. If there is only 10 deciles in a spectrum, then doesn't both top 10 deciles and top 10 deciles mean the same?
maybe top decile and bottom decile makes more sense
If a family household of 4 earning only $1250 the gov will help the family by giving them money, transport fares, meal vouchers, groceries vouchers, free medical, free education and etc.
If one is able, pls help the less fortunate. Everything we have is a blessing from God.
Superb
where poverty line is can be inferred from Maslow Hierachy of needs, from there you work out the mean $ to satisfy needs. Just a suggestion. John Paul's point on graceful aging, our grandparents' and parents' era do not really grant them fair/equal opportunities to basic needs like education or even equal opportunity to work, women are like hens to lay eggs so probably that generation's oldies are more disadvantage compared to our generation. If the latter generation does not age gracefully, more often than not, it should be their choice, and they have to deal with the consequences.
I don’t think the old ppl are impossible to reach. Those who live alone are pitiful & have no one to assist them. They need to feel loved. Children, pls visit your aged parents.
The title in the thumbnail is a bit misleading though... SG has a progressive income tax system, so the higher the income, the higher the tax % you pay. Stil fairly low compared to other countries, which keeps wealth and talent in SG rather than elsewhere in the region or the world which also benefits the poorer parts of the population. Think it is a fairly good balance there. Perhaps the real topic of the discussion is more around social safety net policies.
It sucks to be the middle income class. It’s crazy
Well, if I were rich I'd be pissed if I had to pay a ton of taxes just because I worked my ass off to get where I am today all because of ~equality~
I think Jordan Peterson needs to be on this.
If decile is 10%... Then isn't top 10 decile mean 100%?...
Life is already unfair even at the level of genetics. Some are born with outstanding traits, most are average and some are left behind.
sorry but what happened to denise's fingers :O
Vanness wu?
AHAHAHAHAHAHA
australian income tax is like 32%-45% depending on income bracket HAHAHA thats why the australian guy and some australians live off the welfare
First !
The poor people of less fortunate countries who happen to see this video will think.
" Am I a joke to you?"
If you are poor it is your problem. #algogang