Skip to main content

Spare us the rhetoric

 Ong Ye Kung clearly did not receive the memo to speak plainly.

To wit, Ong visited the Swiss, fawned over their education system, and suggested importing particular aspects of their system.

In a three page borefest, Kelly Ng of Todayonline notes:

He noted the Swiss system’s emphasis on vocational training and “alternate pathways” for nurturing talent have created a more egalitarian society — one where parents and children pick either the academic or apprenticeship route based on a child’s interests, talent and aptitudes.

The Swiss society also “embraces and celebrates many forms of achievements and success”, said Mr Ong.

Here we go again with that "multiple pathway to success". You know why Swiss society can celebrate "many forms of achievements and success"?

Because of substantial income equality. For example a postal worker in Switzerland makes an average annual income of  S$90,335. A teacher? S$118,684.  A doctor? S$149,202.

Yes, doctors and lawyers still make more. But not that much more. And their post-tax income would in fact be comparable due to the high income taxes. The Swiss also have a minimum wage.

To speak plainly, this means that, for the Swiss, what you study, and where you went to school, is much less high stakes.  No matter your job or vocation, you can experience a reasonable quality of life, that is not too disparate from your neighbors.  This in turn provides dignity. It is easy to see how Swiss society is able to celebrate "many forms of achievements and success".

On the other hand, let's look at the situation in Singapore.

Annual income
Doctors (Specialist)  - S$340,956

Train Captain (SMRT) - S$23,000 - S$42,480 (max)

For one living on 23k a year (before CPF mind you), dignity is not really a word that comes to mind when you think about the "lifestyle" one can afford with that pay.


After all that rhetoric about changing the Singapore education system, the article by Kelly does not once mention the issue of income disparity. Not even once.  It is telling isn't it? 

This is the classic cart-horse issue. The Swiss' egalitarian society shapes its education system, not the other way round.  Adopting the Swiss education system but retaining SG income disparity will do a grand total of jackshit.  Parents (and children alike) are still going to fight tooth and nail, and stress out over every last mark in a test, so that they are more likely to land a 300k a year job than a 20k a year one.

That said, it must be confessed that I prefer the current Singapore system.  Competitive. High stakes. Merciless.  After all, what is the point of working your ass off if it does not provide you an edge over the rest.

In fact, what I am more worried about is the G ultimately capitulating to all the SJWs like Prof Teo and start pandering to populist tax policies (and by populist tax policies i mean taxing the rich).

If (when?) that happens, it would be great if I had already FI-ed.  You won't catch me working 50-60 hour weeks just so that Mrs-my-husband-does-not-work-housewife can have her fifth child and then cry for State help.













Comments

Popular posts from this blog

As a Dividend Investor - I am having fun staying poor

Recently, there was a self-styled "master" who went around dissing dividend investing, saying things like REITS will chibaboom (his words not mine). Ironically, the master also invested into "growth stocks" like BABA and notably SE before its recent implosion.  Masterstrokes indeed. Dividend/income investors have borne the brunt of "have fun staying poor" taunts since the dawn of time.  Previously from the crypto bros and then from the growth investors. This is nothing new.  Every growth investor likes to talk about Tesla. But where are the ARK ETF investors? Where are the NIO bulls? Where are the BABA fanatics? Even a broken clock is right twice a day.   Good luck to those who retired on a portfolio of "growth stocks", hoping to spend 4% annually on an expected annualized portfolio growth rate of 10%.  Without dividends, one would have no choice but to liquidate part of the portfolio for meeting expenditures.  The damage done might never be reco...

Smoke, mirrors, bungalows and mistresses

People care way too much about a couple of colleagues fucking each other. The only people who should care this much are the aggrieved spouses and the family members who were hurt and embarrassed.  If you are not one of them, then shut the fuck up already. Who cares? The fact that they fucked or are still fucking doesn't affect you in the least bit. So quit the vomit-inducing moralizing.  But do you know what is detrimental to you, the hardworking taxpayer slogging 10-14 hours a day to make ends meet? 1)      That the Government apparently provides a special class of rental properties, one in which only a TINY TINY group of people may afford, in particular, those who can comfortably pay >20k a month in rent. Suffice to say, a real tiny and privileged bunch including people like, say, K Shanmugam and Vivian Balakrishnan. 2)      That the Government is happy to willy-nilly spend close to half a million tax dollars to make these properties "habitab...

FIRE by 2020 has officially failed

Back in 2015, I never thought I would have to work past 2020.   The idea was that I would have accumulated at least 1.7 M by Jan 2021 and would be comfortably returning 110k a year in passive income based on a 6.5% yield.  How laughably naive. The optimism is commendable but misguided.  Covid struck hard.   Several terrible decisions were made. EHT is bankrupt. A 50k write off.  Ouch is right. First REIT is trading around 20% of my cost price. Never again Riady. Never again. Yields have been severely compressed  with "quality" REITS, e.g., MINT, PLife, Ascendas REIT all returning paltry yields of 3-4% or, gasps, less.   With the view of improving portfolio resilience, I made a conscious decision to rebalance my portfolio to go REIT-lite (well, lighter) and increased my holdings in DBS, UOB, OCBC.  The MAS cap on banks' dividends does mean that these companies are returning 3% or less per annum.   Sigh.  All in all, pr...