The rich help keep economy alive

PHOTO: The Straits Times

I disagree with Mr Francis Cheng's response ("What rich Singaporeans should do"; Dec 14) to the new study on the spending patterns of high-net-worth individuals here ("What rich Singaporeans want"; Nov 24).

We should feel happy that the rich are willing to spend on luxury items. The reason is that their spending creates job opportunities for people in all fields, especially the service industry.

If the rich are frugal and hoard their wealth, it is bad news for the economy and for the people.

We need to be able to see the overall picture in the right perspective in order to be happy.

For example, if we see many sports cars out on the roads, it shows that the country is full of opportunities.

Sim Lim Onn


This article was first published on December 23, 2015.
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