In the wake of the Budget a few weeks back, I saw figures which suggested that millionaires would receive a tax cut of around £42000 a year. Today, the same government, Cameron's 'cabinet of millionaires' who handed such largesse to people who predominantly support them, announced rises in the national minimum wage. For young people aged 18-20, this amounted to a rise of five pence an hour - don't spend it all at once, guys - to the princely sum of £5.03 an hour. By my quick calculation, it would take a young person on the minimum wage 8350 hours a year to earn £42000, which equates to their working 22 hours and 53 minutes a day. Every day of the year. That degree of inequality is so egregious, it's not even wrong. The economics of the trough.
Love & best wishes to all
Sammy B
I think in all First World countries, despite the economic woes we hear about constantly on the news, there is a widening gap between the haves and have nots. And there are far more of us sliding towards the have not side of the equation than otherwise. I see basically poor (or at least middle class) people winning millions in one lottery or another, and see how so many of them simply can't cope (nor can multimillion dollar pro sports "athletes") and lose everything. I'm not greedy, just give me a fricking million bucks or so, and I'd be set for life. I'd even pay the taxes without complaint.
ReplyDeleteIn this country, a "full time job" is considered to be 2080 hours a year. 40 hours/week, 52 weeks/year, and usually, you get two weeks off, so you really only work 2000. At $7.25 as the federal minimum wage (though many states have higher minimums), that's just over $15K/year, minus taxes, insurance, FICA (Social Security tax), and any benefits you might receive such as health insurance. I defy anyone to live on that. Much less a family of more than 2 (and they both better be working). It's sickening. And yes, our Republicans would LOVE to lower the tax rates on the rich. ARGH!!!
Peace <3
Jay
Hello Jay
ReplyDeleteIt's the cynical hypocrisy of the system that I find most galling, the same legislators, and their 'interest group' backers handing themselves thousands of pounds a year while doling out a mere few pence to the masses, and expecting them to be thankful for it. I have to admit that my job is pretty well paid by many people's standards, but even I have to average 5½ days a week, 48 weeks of the year, to earn just a little more than the average millionaire tax cut I referred to in the post. I, like you, can't see how anyone could get by on the national minimum wage, certainly if they had to maintain a household with all the associated bills.
Love & best wishes
Sammy B