I read an article on Today, which I also shared on my Facebook page on the income inequality widening. Based on DBS data collated from their retail customers which should be substantial as a huge number of individuals will credit their income into their DBS/POSB account showed that individuals earning less than $2,999 formed the largest group of people who had a pay cut by at least 10%. And within this group, half of them had their income halved meaning only 50% of their salary was being paid to them during this period.

"In comparison, higher earners — those earning between S$7,000 and S$9,999 — were the least affected by income cuts making up 6 per cent while those who earn S$10,000 and more, made up just 8 per cent."

It is scary when you think about it, I do belong to those earning less than $2,999 and to see their pay cut and even halved, it is painful because the amount is not even huge to begin with meaning...