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Independent Singapore
2 hours ago
- Independent Singapore
'Why do some Singaporeans feel more entitled than others?'
SINGAPORE: In the Lion City, where social policies intend to strike a sense of balance between fairness and practicality, few schemes have triggered as much discussion as the CDC coupons. These government-issued vouchers are aimed at easing the load of escalating living costs, yet an ostensibly modest gesture of assistance has kindled a bigger discussion about equality, privilege, and the public's perception of prosperity. Recently, a Redditor voiced curiosity about the mounting bitterness observed online. 'I am by no means a wealthy person,' the poster wrote, 'but I keep seeing comments about how it's unfair that someone living in a landed property gets the same vouchers as someone in an HDB flat. I genuinely want to understand—why do people feel entitled to more?' It's a question that opened the floodgates to a variety of outlooks and perceptions, demonstrating that the problem isn't just about dollars and cents—it's about ideals, insights, and messaging. The problem with equality in benefits A common response from commenters was the strain between fairness and equity. While the government gives the same amount of CDC vouchers to rich and poor citizens alike, the lived reality of Singaporeans extensively differs. As one commenter clarified, 'Should poor people get more monetary benefit from the government than rich people? That's a far more complex issue than 'poor people are entitled.'' See also Cost of living issues at the top of voters' minds in GE2025 runup Unquestionably, while some contend that equal dispersal mirrors national harmony, others feel the system should account for need. A S$300 voucher might hardly register for a high-income home, but for households earning the minimum wage, it could mean a week's worth of groceries. It's not just the money—it's the message A vital aspect, according to netizens, is how the government sets these vouchers. The official description is that the CDC vouchers are intended to 'alleviate the cost of living.' That kind of messaging, many claim, sets the belief that the more economically disadvantaged one is, the more help one should receive. 'If it was, say, a tax rebate,' one Redditor pointed out, 'the rich get more and no one complains, because it's seen as a discount on taxes—something they already pay more of. But when vouchers are positioned as support, people feel it should be given based on need, not equality.' Another added, 'If the message was simply, 'we're returning a budget surplus to all citizens,' I don't think people would be as upset.' What do people really want? Underneath the discussion, there's a sense that the real issue isn't just about coupons—it's about acknowledgment and reprieve. Lower-income people often feel the pinch of mounting expenditures more intensely and want that hardship addressed in concrete ways. 'The vouchers can cover a month's worth of basic expenses for some families,' one netizen wrote. 'So, when others use it to buy luxuries, it feels like a slap in the face.' However, it's not only the 'have-nots' who are disgruntled. As one noted, even high-income earners sometimes complain they're being deceitfully overtaxed or that the system doesn't reward them sufficiently, even though many of them have benefited from scholarships or overseas funding in the past. 'There will always be people unhappy,' one Redditor wisecracked. 'They lack contentment—so it's not just the lower income.' Gratitude vs entitlement The most surprising insight came from a commenter who thought that gratitude has become increasingly rare across all income brackets. 'People will never be grateful for what's being given,' he said. 'It doesn't matter if they're high-income or low-income.' It's a sceptic's mindset, but it can lead to a deeper challenge for legislators — even benevolent initiatives can provoke hatred if the public sees them as skewed from actual realities and societal values. A question of perspective Eventually, the poster wasn't aiming to attack or protect any side but was trying to understand why ' people feel entitled to more.' Yes, all Singaporeans work hard, but hardship is not always gauged in hours—it's gauged in values and outcomes. When someone living paycheck to paycheck gets the same aid as someone with financial resources, the result can feel more like nominal equality than real equity. And that's the actual core of the debate — not who deserves what, but how we describe fair-mindedness in a society that strives for both meritocracy and sympathy.
CNA
3 hours ago
- CNA
Foxconn to suspend share trading on July 30 pending major announcement
TAIPEI :Foxconn, also known as Hon Hai Precision Industry, said it will suspend share trading on July 30 pending a major announcement. In Taiwan, companies typically halt trading ahead of announcements, including investments, asset sales and mergers or strategic partnerships, that could affect share prices.
CNA
3 hours ago
- CNA
First Hong Kong stablecoin licences may be issued early next year, HKMA says
HONG KONG :The first batch of Hong Kong stablecoin issuer licences is expected to be granted early next year, the Hong Kong Monetary Authority (HKMA) told a media briefing on Tuesday. Hong Kong's stablecoin bill is set to take effect on August 1. The market had earlier expected that the first batch of issuer licences might be issued within this year, but Tuesday's comments showed the city's de facto central bank's cautious stance. Darryl Chan, deputy chief executive of HKMA, emphasized that only "a handful" of licences will be granted for the first batch. Investors piled into crypto-related stocks in Hong Kong since the city passed stablecoin bill in May to boost its status as a global digital asset hub. Shares of Guotai Junan International have surged 450 per cent after the broker said it obtained regulatory approval in Hong Kong to offer cryptocurrencies trading services last month. HKMA has been actively flagging risks around the growing frothiness of the market around stablecoins most recently. In a statement on Tuesday, HKMA reminded market participants "to exercise due caution in their public communications, as well as refrain from making statements that could be misinterpreted or create unrealistic expectations." It said that no stablecoin licence has been issued by the HKMA as of Tuesday. HKMA suggested interested institutions to apply for a licence before August 31 to receive feedback from the regulator. Institutions that have so far spoken with the HKMA are mostly exploring HKD- and USD-pegged stablecoins, Chan said.
