Next Time Someone Says SG can't Have Minimum Wages Or Higher Taxes

[Sammyboy RSS Feed]

An honorable member of the Coffee Shop Has Just Posted the Following:

Wait a minute! I thought that the government has always said that if we impose minimum wage, our economy will collapse and businesses won’t want to invest in Singapore?

Then why is it the case that the countries with the highest minimum wages are also one of the richest countries? Why are businesses still investing in them?

You see, the reason why the government doesn’t want to impose a minimum wage law isn’t primarily because businesses won’t invest. There are many businesses which have gotten used to the ethical practices of the other developed countries, and they would do what they need to, to respect the laws in those countries. The reason why there’s no minimum wage in Singapore then? Well, for the Singapore companies owned and based here, where do they predominantly earn their profits from? If they increase our wages, where will their profits go to? So, in order to earn from you, they have to depress your wages and increases prices, so that they can earn as much as they can.

And who own this Singapore companies?

Now, let’s compare these countries with minimum wages to their productivity. Again, you can see in Chart 10 the productivity of these countries charted against their minimum wage levels.

- http://thehearttruths.com/2013/09/10...-higher-taxes/


Click here to view the whole thread at www.sammyboy.com.