Tuesday, January 11, 2011

Food for thought

Got this in an Email today. Not very accurate but it does remind us how greedy the goverment is and the significant gap between the rich and the poor in Singapore.

A minister takes home on average approximately $1,500,000 a year or $125,000 a month. A peasant akes home on average approximately $30,000 a year or $2,500 a month.

As 20% of the peasant’s pay has to go into CPF, the peasant is left with $2,000 in cash.

Assuming the peasant saves 10% of his cash for rainy days, he would be left with $1800.
If the peasant spends every single cent of his $1,800 and is taxed at the rate of 7% in form of GST, he will have to pay $126 in GST every month.

From here, we can conservatively gauge that it takes approximately 1000 peasants to feed one minister every month just from paying GST.

We have 20 ministers, which means about 20,000 peasants working their asses off to feed them every month.

Welcome to Singapore.