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originally posted by: neo96
Progressive taxes are idiotic. Especially when governments make a killing off other taxes, The have the power to print treasuries. They have the power to print money out of thin air.
Get rid of income taxes would be one hell of an economic stimulus.
originally posted by: idmonster
originally posted by: avgguy
So $78,000 a year is living wage in the UK? And people think that they are entitled to this?
£9 per hour for a standard 37.5 hour week for 52 weeks a year.
Comes to about £19,000.
The Government’s new national living wage is likely to result in higher prices for shoppers, Moody’s has warned.
The minimum wage for over-25s is to rise from £6.50 per hour at present to £7.20 in 2017 and £9 by 2020 under proposals announced by George Osborne in the Budget.
This increase in basic pay is “credit negative” for retailers, restaurants, hotels and leisure companies because of the cost of increasing pay for the hundreds of thousands of workers they employ, according to an analysis by credit rating agency Moody’s.
• Struggling retailers face huge bill from wage rises and business rates
Staff account for roughly half of a retailer’s costs and large companies will have to stump up tens of millions of pounds to meet the living wage requirement.
A retailer employing 50,000 full-time staff at £7 per hour will have to pay an extra £21m a year to get to £7.20.
Maria Maslovsky, senior analyst at Moody’s, said the credit rating agency “expects retailers to pass on higher labour costs to customers” and also warned that retailers could reduce employee benefits such as staff discounters because they offer “room for manoeuvre”.
originally posted by: Soapusmaximus
Living wage my arse, you can just about live without government assistance in the UK (south at least) on £9 now, just.
Bloody hell how prices will rise by then, and inflation............
Another scam distraction from the fact the system has been milked dry and we are all going to pay the price for the few amongst us whom cannot control their greed.
originally posted by: nonspecific
Yesterdays budget, the first tory only budget in 18 years had some interesting and some would say bold moves.
A £9 per hour minimum wage for the over 25's may seem at a glance to be a positive step for many lower paid workers but what will the real implications of this be.