Reply to the heart truths : NDP Rally 2013: Will The Government Do More For The People?

http://thehearttruths.com/2013/08/14/ndp-rally-2013-will-the-government-do-more-for-the-people/

Lets look at this article by Roy Ngerng

he starts off by

"Which is why I am uncomfortable that the very first solution that the government could come out with was to ask younger Singaporeans to cross-subsidise the premiums of older Singaporeans."

So if he don't think that is the solution? What is it?

"The Singapore government also spends the lowest proportion on the total health expenditure, as compared to other developed countries (Chart 5)."

If Singapore's healthcare is bad, why is it perpetually ranked top 10 in the world?

http://en.wikipedia.org/wiki/Healthcare_in_Singapore

Then he starts listing about our SWFs, obviously hinting at using our reserves.

"Do you know that the GIC and the Temasek Holdings, which our CPF is invested in, is earning 6.5% (Chart 8) and 16% (Chart 9) respectively?"

So he wants TH and GIC to give CPF more returns, but CPF has been giving up to 5%, just 1.5% below TH's earnings? And howabout other costs like administrative costs? So their real return is 1.5%, not alot. Howabout during down years like 2008-2009 and other financial crisis where alternative media has said that they lost "alot of money"?

Let me state that no risk-free instrument gives you 2.5-5% today. Today you'll be laughing if you got anything for more than 1%.

He ends off with

For a fair comparison on a country which has a similar GDP per capita, Norway spends 84% of the total expenditure on healthcare. So, if the Singapore government increases their expenditure to 40% or 45%, will you even consider this to be a significant move for Singaporeans?
http://en.wikipedia.org/wiki/Taxation_in_Norway
So why didn't he say for fair comparison, their personal income tax rates area almost 50%? and 20% (which our cap) is easily hit by all strata of society. In Singapore, 60% do not pay direct taxes, and 40% get more than they pay.

for a fair comparison, why didnt he state that most of Norway's GDP is from oil, and even more from oil and minerals. For a fair comparison, why didn't he state that 1/3 of Norway's income come from oil? For a fair comparison, why didn't he state that even with that, their healthcare is unsustainable and there are talks to cut healthcare?

http://www.socialistworld.net/doc/2580
http://en.wikipedia.org/wiki/Norway_economy

Why didn't Roy also mention that Norway's healthcare is often criticized

http://frontpagemag.com/2012/bruce-bawer/government-health-care-horror-stories-from-norway/

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Zimbabwe only has $217 in the bank

HARARE — After paying public workers' salaries last week, the balance in cash-strapped Zimbabwe's government public account stood at just $217, Finance Minister Tendai Biti said Tuesday.

"Last week when we paid civil servants there was $217 (left) in government coffers," Biti told journalists in the capital Harare, claiming some of them had healthier bank balances than the state.

"The government finances are in paralysis state at the present moment. We are failing to meet our targets."

Zimbabwe's economy went into free-fall at the turn of the millennium, after President Robert Mugabe began seizing white-owned farms.

The move demolished investor confidence in the country, paralysed production, prompted international sanctions and scared off tourists.

After more than a decade -- in which the country suffered hyper-inflation of 231 million percent and infrastructure that crumbled as quickly as prices went up -- the situation is now more stable.

But public finances remain a mess and local business battles against unstable electricity supplies, lack of liquidity and high labour costs.

Zimbabwe's government has warned it does not have enough money to fund a constitutional referendum and elections expected this year.

Biti said that left no choice but to ask the donors for cash.

"We will be approaching the international community," he said.

The country's elections agency said it requires $104 million to organise the vote.

Government's national budget for this year stands at $3.8 billion and the economy is projected to grow 5.0 percent.

The mineral rich country is now using the US dollar and the South African rand.

AFP: Zimbabwe has $217 in the bank: finance minister