Saturday, July 28, 2007

Income Gap

Featured in today's ST was an article on the meagre salaries earned by cleaners, labourers and stevedores.

The salary of cleaners as outlined in the report was a paltry $400 to $1000 per month. With the increase of salaries for many occupations, the salary increase for this group of workers has been long overdue.

Singapore currently has about 66 600 millionaries and Singapore is one of the countries in the world with the highest proportion of millionaires! With this increase, it is boom time for investment managers too who subsequently earn higher wages too.

The widening income gap between the 'haves' and 'have-nots' is one that the government is currently looking at. This widening gap does not come without social problems, chief of them is a culture of envy for the richer.

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