I'm often wondering what drives people who are rabidly populist. Is it some sort of thirst for power or merely unbelievable, self-assured ignorance?
Regardless of the motivations PSPs "Telegrampa", Leong Mun Wai appears to be at it again, desperately trying to attack the most successful public housing scheme on this planet, that he himself had no part in.
What sort of a person must one be to question it even as it provides not only roofs over people's heads but really large apartments for all Singaporean citizens (seriously, go and compare how others live, particularly in densely packed cities around the world).
But you know what gets me even more about this endless self-entitled whining about HDB prices? That nobody asks the most important question of all: what happens to the money paid to HDB?
Oh yeah, every loud complainer is the only real patriot, a true-blue Singaporean who professes to love his country - only to start demanding more and more handouts five seconds later.
Seriously? Is it patriot or parasite?
Destructive populists have the same modus operandi everywhere in the world - they are trying to make people believe that they can get more for less, something for nothing, and that it can be achieved without affecting anything else.
Do you seriously believe that if you pay less for your HDB it is not going to have consequences elsewhere? That you can make billions of dollars evaporate and the nation will not be worse off?
This is what uncle LMW keeps doing, isn't he? Trying to portray the government and HDB as some greedy organizations bleeding poor Singaporeans dry.
Now, this either means that a sitting MP has no idea how his own country works or, worse, that he misleads people on purpose.
I'm sorry but is HDB a private corporation? Are those billions it collects in sales funnelled to Lee Hsien Loong's private vault where he bathes in gold like Scrooge McDuck?
No, it's public money with the proceeds from land sales going to reserves that are invested on behalf of the entire nation - and safeguard its future needs.
It's YOUR money, that is merely managed by authorities for you, your family, your children, grandchildren and future generations.
PAP doesn't own it, LHL doesn't own it. All Singaporeans do.
And now irresponsible populists, thirsty for votes, are acting as if they own Singapore's future and, worst of all, are trying to pawn it so they can buy your votes with your money.
Who is the greedy guy here? Who is trying to rip you off?
If you don't pay your share for housing - even despite the fact that it's already heavily discounted vs. private market - then you might not get full healthcare later in life, your kids may not get subsidized education, your grandchildren may have to pay market rates for their homes, because those decades of deflated inflows to the reserves would compound into hundreds of billions of dollars less, generating far lower returns to the budget via NIRC.
So, what then? A 15% GST rate? Maybe 20%? How about 15 or 20% in income taxes on top of it? Because money has to come from somewhere, sunshine.\
But populists never mention that, do they? In the absence of better ideas they just try to one-up the government and outbid it using taxpayers money, pawning their future for today's votes.
Let's take that recent AMK SERS which grabbed some headlines because a few people out of hundreds were somewhat unhappy (and, ultimately, received support anyway).
It was despite more than 40 years elapsed on their leases, despite the fact they would be getting new apartments, despite the fact that they were given options to top up to a 99-year lease or remain on a 50-year lease in new places without adding cash.
It also doesn't matter that new apartments are valued in relation to market conditions, not to mention that when buying new, BTOs are getting significant discounts, allowing you to de facto get a windfall from the housing program, because you pay significantly less than you would in the resale market.
None of it matters because it's NEVER enough. Populists can always offer you more.
One party says: "let's stop the GST hike and take more from reserves" the other says "let's reduce HDB prices and take more from reserves".
Did they even earn these reserves? Do they have any idea how to MAKE more money instead of taking what isn't theirs?
But they don't care, they bear no responsibility, it's not their money and the only way they can survive in the parliament is to convince you they could give you more if only you vote for them.
They don't think in multi-decade perspectives - they have to get votes in the next GE, they don't care what happens in 2050, if they are even alive by then.
Since they're incapable of coming up with better ideas they just have to cynically bribe the gullible, regardless of long-term consequences to them, their families and the entire nation.
