Money and Might: Reserve. How to defend and protect our richness.

 Money and Might: Reserve.

How to defend and protect our richness.

If money is a show of might, then Singapore must be very mighty as we have a strong reserve. Russia has US$630 billion in reserve before the Russia-Ukraine war, while Singapore has US$418 billion. Are we really rich and mighty?

Yes. We are very rich and mighty on a per capita basis. With a small population, our reserve is two-thirds of that of Russia but in terms of per capita, we are many times ahead of Russia.  Wow! Singapore, with our wealth, must be several times more powerful than Russia.

In reality, we are not even having F-35s. Reserve can go down significantly like the case of Russia now. And our money and reserves are parked outside Singapore. （远水救不了近火）Distance water are powerless against nearby fire, just like the case of Ukraine today.  Of course, you may say Ukraine has no money and reserves, so they ought to be less mighty. However, the spirit of the people shows a different story. 

Then, it was reported in Today about the burden of middle and income earners:

  

SINGAPORE — The proposal put forward by the Workers’ Party (WP) as an alternative to an upcoming increase in Goods and Services Tax (GST) is not sustainable and will result in a bigger burden on the middle-income- and upper-middle-income earners, Manpower Minister Tan See Leng said. 

Tan also talked about betrayal. High income earners will feel betrayed. 

Singapore is so afraid to offend high income people so we don’t want to burden them and also don’t  make them feel betrayed.  

And so, you expect low and middle income to rise up to defend Singapore. You expect the poor, sick and weak to defend Singapore!  And the rich run away!

There is no social responsibility here if the rich don’t share the burden of taxation.  Who is giving them the opportunity to be rich? Just like the million dollar ministers who are giving them the chance to be a millionaire?  Singapore and low income earners who continue to vote for the PAP. 

  

Tan is telling the truth that is an irony. Low income people are less likely to run away when there is a crisis. They are burdens in peaceful times but they are mighty in crisis.  Who does Singapore really need?  Who are the burdens, the betrayal?