Inflation Subsidy?

April 23, 2008

I am no politician, and neither am I finance/economy-savvy or whatnot. But yet, this seems like a really stupid idea. An utterly, irrevocably, lame idea.

The idea in brief is like this: in order to tackle the ongoing inflation, the government will grant a one-time inflation subsidy of MOP$5000 to each and every Permanent Resident of Macau, whereas Non-Permanent Residents will receive MOP$3000 each.

I understand where this comes from, and I admit that I’m glad that somebody is thinking about the inflation issue. I do not doubt the intent. The intent is good.

It’s the way they’ve decided to tackle the issue… it’s like saying “Now everyone gets some money, now shut up!” It really gives me the impression that they are nothing but lazy bums trying to make a show that they are working very hard and shelling out a lot of money for the good of the citizens.

Well, I doubt the amount of money you will spend on this will dent your overall money reserve. Honestly!

For someone who earns the minimum wage, those who are struggling to make ends meet for their basic necessities, yes, this subsidy is very important. But then again it’s just a one-time thing. Isn’t help supposed to be ongoing? Don’t forget inflation is rising as well!

For those who earn well above the minimum wage, I wouldn’t say that they don’t need the subsidy, just that they can cope with their basic necessities, and that the subsidy would be an added bonus to them.

Then there are those who earn quite well (I’m talking about locals, not expats). They are capable of covering their basic necessities and more even, and so the MOP$5000 you give them, they wouldn’t need it for their survival. I’d wager they’d spend it on some luxury extravagant something and isn’t that just encouraging inflation?

ah, and then there are those million- and billionaires. If they can buy a BMW without actually thinking of the cost incurred, I doubt they’d give a rat’s arse for your MOP$5000.

Make it a yearly subsidy, together with some enforcement criterea, then maybe I’ll be calmer about this whole ridiculous issue.

Yes, I admit, to get an extra MOP$5000 is nice, but then again, No, in truth, I don’t really need it to survive my basic needs. I’d rather it be donated or used in public facilities so that other needy people can benefit from it.


One comment

  1. aww there goes my Wii~~ if i can come back to get that 5k, i guess i’ll get myself a Wii xD or ps3? or wat is new out there now? ah wells~ XD

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