Tuesday, August 30, 2011

A Country in Debt

If you are a Singaporean and read Mandarin.. this article from a magazine in Hong Kong would be interesting for you.

Singapore has low foreign debt..

Is our debt low because the Singapore government borrows from it's citizens.. compulsorily through CPF?

Or is our tax high because CPF (compulsory savings for working Singaporeans) is money most of us are unlikely to ever get back in our life time?

Whatever you think, this is an interesting read.
負債大國新加坡 (2011年08月25日)


Wen-ai said...

Yup... I've always thought that CPF works like a tax. Esp, medisave, our own money and yet we cant use it to pay medical bills in full, but only partially. So stupid.

Open Kitchen Concept said...

Yes, agreed. It's sad to have restrictions on your money like you are a 5 year old. Worse when you are actually sick and would like to use it..

Lrong said...

Which reminds me... I still have some meager funds at CPF which I should be collecting soon...

Open Kitchen Concept said...

Oh, quick quick - go take those funds out! :)

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