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View Diary: Here's why Paul Ryan is the perfect guy to deliver the GOP rebuttal to the president's inaugural (76 comments)

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  •  Singapore's a city state with first world standard (2+ / 0-)
    Recommended by:
    RichM, VictorLaszlo

    of living.  It has some unique properties.

    20% of the national budget is spent on education.  While not free, education through college level is heavily subsidised

    Health care
    While nothing is free, health care is heavily subsidized to be affordable, and 70-80% of the population uses the public health care.  This is paid for with mandatory deductions (similar to medicare) that subsidize the low income.  They rated 6th in the WHO rankings back in 2000.  The public system is subject to supplemental health care which employers can offer as perks or individuals can buy if they're wealthy.

    They have a pension system, more or less similar to Social Security except the tax rate is 3x higher (36%) and encourage savings, but there's been problems with people investing most of their net worth in real-estate, and coming up short on cash when they retire.  (as you can imagine, real-estate in a city state isn't cheap)

    What they don't have is any kind of unemployment insurance (for disability or any other reason), and related to that, no welfare/dole type thing.  The cultural expectation is that the extended family takes care of those who can't work.   Note that with health care heavily subsidized, the main expense for taking care of an unemployed person is housing.

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