It’s already happening in parts of the US
A family getting by on $117,400 (£87,970) in one US city can now be considered ‘low income’, according to government figures. How can that be the case?
That workers with six-figure salaries could be considered “poor” is something that might surprise many people.
But taking into account income and housing costs that is the reality for some families – who may be eligible for housing assistance – according to a recent report from the US Department of Housing and Urban Development.
In San Francisco and nearby San Mateo and Marin Counties it said $117,400 for a family of four was “low income”, while $73,300 (£54,900) was “very low income” – the highest figures anywhere in the country.
So don’t be surprise if those couples here on a combined low six-figure salary start thinking of themselves as hard done by the PAP administration, despite the low levels (“peanuts”) of income tax and GST.
Remember the Singapore Dream of the 5Cs of condominiums, cars, country clubs, cash and credit cards? How many S’poreans can realistic afford condominiums, cars, country clubs and still have cash? Credit cards are now nothing but bait to get consumers to over spend so that banks can charge them usurious eates
A NUS survey points out
Out of 25 aspects about living in the country, Singaporeans ranked the affordability of cars as being the least satisfied with, followed by the affordability of properties, cost of living, ratio of locals to foreigners, and affordability of healthcare.
“Increasingly (over the years), they are upset about the affordability of cars and properties, so you can surmise from there that they are concerned with the issue,” said Tan.
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That’s why Singaporeans are unhappy and feel they have not enough savings. They want the things that a highly urbanized area cannot deliver at the price they want. Can’t blame them tho, they were sold a happy story. Me thinks of the two – cars and property – Singaporeans have to let cars go like residents in the global cities like London, HK, Tokyo, NY and Paris. The problem is SMRT is shitty in coverage compared to those cities .
Combo meal in fast food restaurant (big mac meal or similar) in other cities
In Culiacán the price is 58% lower than in San Francisco, California
In Dnipro the price is 68% lower than in San Francisco, California
In Beijing the price is 41% lower than in San Francisco, California
In Tehran the price is 37% lower than in San Francisco, California
In Rostov-on-Don the price is 49% lower than in San Francisco, California
In Barcelona the price is 6% higher than in San Francisco, California
In Milwaukee, Wisconsin the price is 9% lower than in San Francisco, California
In Porto Alegre the price is 18% lower than in San Francisco, California