atans1

Hen, JosT, GraceF: Money, money, money

In Humour on 13/09/2014 at 12:56 pm

I tot of the three ministers when I read:

WSJ Wealth Advisor’s Veronica Dagher explains in an article and accompanying video that “core expenses” for a family of four in Chicago – like an $850,000 mortgage on a $1.2m house, $24,000 a year in property taxes, $25,000 in home maintenance and $30,000 in groceries – really add up.

Then there’s discretionary spending, such as $25,000 a year for two vacations, $15,000 a year for car payments, $10,000 for entertainment and $12,000 in “club dues”. (Who are we kidding? I bet that paltry amount won’t even get you a golf membership with real live caddies. What are we, savages?)

The Daily Kos’s Weinenkel says the entreaty to “cut your spending” is the best part of the video:

“Let’s forget that the median middle-class household income peaked at $56,080 in 1999 and it stands at roughly $50,017 now. Welcome to examples of the shrinking middle class, Wall Street Journal.”

If that wasn’t a strong enough dose of wealth hubris, Dagher provides plenty of examples of six-figure families living beyond their means.

“Sylvia Flores was earning more than $200,000 a year overseeing website content for retailers and tech firms when she got into trouble,” Dagher writes. “She had a personal chef and a housekeeper, and took her husband and two children to Hawaii for frequent vacations.”

http://www.bbc.com/news/blogs-echochambers-29168898

So the Hen, Jos Teo and Grace Fu shouldn’t pretend that they are public-spirited for taking less pay by becoming PAP ministers, but others are not, or may not be. Juz be silent on the issue of ministerial loot salaries: like Tharman and Shan. But then they are local Indians, the other three are local Chinese. Indians have a reputation of being more political savvy.

After tot (7 October 4.30 am)

I came across this quote while reading FT last week, “money is by far the least [important factor]” when choosing where to work. At this level it can’t be painful, right? The job we’re doing is a vocation. All of us like to be paid whatever is deemed competitive in the market, but it’s not the main driver.”” said the CEO of Switzerland’s third largest bank who has had to cut his pay by 12% because shareholders were unhappy.

 

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  1. Methinks ministerial salaries, at the end of the day, is one thing for ranters to continually harp on. Might not be a game changer in any electoral results

    But then, you are right. The more they try to talk about it, the lamer the reasons sound. Just like Lim Wee Kiak, who said higher salary is needed for more “dignity”.

    Aside from the usual ranters, Singaporeans as a whole most just accept it that ministers are highly paid. It become a butt of jokes, but realistically little more than that. Realistically nobody expect them to be Gandhi or Aung San Su Kyi. Its not like as though they cut the salary, will create more jobs or money for people.

    But the more they try to talk about it and justify themselves, the more stupid they sound.

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