CPF as originally conceived was citizens' retirement
nest-egg.
Through greed to fill government's own coffers, Housing Tax
(Land charge of S$80,000.00 per 3-room flat) drained off their
CPF.
Apparently government has lost the zeal in looking after
citizens' retirements some time around the beginning of 1970s after
Minister Mah has changed the basis of low-cost housing pricing with
a double-charge on lands which were already paid for by citizens
under taxes from cost-break-even to market-price because of greed
(looking with green eyes at the increased balances of citizens'
CPF).
Now Minister Khaw also looks at the CPF and finds that given the
CPF balances there is no problem in getting citizens to pay for the
increasing medical costs by means of the insidious means
testing.
CPF is now being sucked dry bit by bit. Citizens will not be
surpised another minister will soon try to get people to pay more
of their other expenses like education fees etc because it is easy
to take their monies via the CPF.
Where is the original retirement planning announced by the
government for the citizens now with CPF being treated as easy
money to be taken by government bit by bit to enrish its own
coffer.
Where are our talents. What talent do our ministers have to look
after our needs and retirements?
Meanwhile billions of citizens' monies in the surpluses hoarded
by the government from over-charging on lands and housing and
withholding of spending on taxes collected are lost in Shin Corp,
Global Crossing and UBS etc.
Where is the logic of government ? It is to look after the
citizens' needs or show off their own glories or success or paying
for their millions-dollar self-rewards.