Trickle down economics in SG isnt really working
As cliche it sounds, getting rich people around the world to invest money in SG to create jobs for locals is pure naive.
Businesses just like money can open and close and move elsewhere like the recent H&M and Gardenia cases and unemployment rises. AI too is not helping.
Do you ever think companies foreign and local here care about SG other than their profit and loss margin? NOPE.
The wealth gap between rich and poor is widening year after year even after Government transfers help like GST vouchers. It's still not enough.
When was the last time you heard a billionaire residing in SG gave bonuses to its employees?
I can only remember Sheng Siong's boss.
Others including foreigners in the likes of Dyson or Eduardo? NOPE.
We REALLY NEED a wealth tax for those not contributing to the SG economy.
As long as this is not implemented, SG is regarded as a holiday home or stepping stone.