@Socialist_Crow@ToryFibs is. Ofcourse they would be but that is not the point. They would be paying into the system more than they receice so in effect they would be subsidising others.
My example though was designed to change the system, not show the current system and penalises wealthy more.
@Socialist_Crow@ToryFibs My figures are correct the pensioner would be paying 40k on a gross income of 100k. They pay more in tax than they receive in state pension
You are comparing whether someone is better off or not if they are given extra money but pay half of that back, not what their total loss
@Socialist_Crow@ToryFibs Income disparity is the issue & the ability of rich to maintain that disparity.
As short term fixes, state pension & minimum wage need to rise, with progressive taxation rising to help cover the costs.
This will cost better off pensioners more without penalising poor pensiners.
@Socialist_Crow@ToryFibs If all pensioners are given £12.5k, those with no other income source get £12.5k. If someone gets £87.5k in other income they get £100k in total. If they are taxed at 50% for all income above £20k then they pay £40k in tax, a net loss of £27.5k.
@Socialist_Crow@ToryFibs I dislike means testing because it creates false financial stress points, and costs more to manage.
It is much better to give the pension universally but tax better off more so that they pay more in tax than they receive in pension.
That is real redistribution easily managed
"The only thing worse than a liar is a liar that's also a hypocrite." —Tennessee Williams
▪️That's not Hamas.
▪️That's not an Ambulance.
▪️There are no celebrations.
This is what an Ambulance looks like; the terrorist IDF attacked a convoy and slaughtered everyone—just one example of many.
@Socialist_Crow If you work a full week your low w pay is over twice as high as state pension.
The issue is not state pention but the system we live in.
Thr state pension is a minimum guarantee you can retire.
@Socialist_Crow@ToryFibs Minimum wage for a 25 year old is £25750 pa @ 39hrspw
The maximum state pension in UK is £12500pa.
In Germany and France the average, not maximum state pension is c. £17500pa.
How does someone who self defines as a socialist in the UK think cutting state pension is good?
@Socialist_Crow@ToryFibs Surely you are mistaken here.
The state pension is about £12500 pa. Pensioners have been paying into the state pension all their life.
You think state pension should be cut?
@iid_sp@Kathleen_Tyson_ If someone could afford a higher mortgage on an inflated price they can afford the higher mortgage with today, all other things remain the same.
The difference is in chanhge of circumstance.
The people who will have lost out are house speculators.
The computing power, the data & the talent behind the most advanced systems are concentrated in a handful of companies, in a handful of countries.
When power imbalances are hard-wired into technology, inequality becomes part of the code.
Every country must have a seat at the table when it comes to AI governance.
WATCH: Israeli border police officer filmed throwing stun grenade inside car in East Jerusalem, trapping Palestinians inside.
Read more here:https://t.co/EXyWJjUpG0