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Thread: Is there a case for redistribution of wealth and income?

  1. #1

    Is there a case for redistribution of wealth and income?

    A recent article on the London Stock Exchange website says:

    Pensioners’ relative prosperity rises

    Occupational pension schemes boost income for 4.6m OAPs

    30 Sep - 13:29

    Pensioners working after they have retired and occupational pensions have helped Britain's elderly become relatively more prosperous, latest figures from the government show.

    A quarter of income for pensioner couples came from earnings, according to the Office for National Statistics (ONS). A further 35% came from the state pension and about 25% from occupational pensions.

    It found an average couple in retirement earned just over 29,000 per year, or 564 a week, in 2008-09.

    That income now means pensioner households make up 38% of the poorest fifth of all households in the UK, sharply down from 56% in 1977.

    "Although retired households' income is lower than that of non-retired households, over the last three decades the position of retired households has improved," the ONS commented.

    The figures, though, showed a wide divergence in income between pensioner groups. A fifth of them exist on incomes of just 197 a week, while the wealthiest 20% enjoy average weekly incomes of 755.

    More than half of single pensioners also received total pension income of less than 10,000 a year.

  2. #2
    The Tories will doubtless say (to themselves) that poor people are improvident, lazy, stupid etcetera and deserve to starve. The non-sociopathic may believe that life's chances are unfairly distributed and it is the responsibility of a caring society to even out the results for people who are, for whatever reason, incapable of helping themselves.

  3. #3
    They are already taking over 50% of all earnings,and in addition are now confiscating a large proportion of savings on death. The consequences of this and further draconian attacks on City business has resulted this year of a further loss to the Exchequer of 500 million . This massive haemorrage will continue. The rubbish of redistribution causes the Get up and Go productive people to do just that. .Look no further than the old marxist Soviet Union, which turned the populace into a nation of Zombies.

  4. #4
    I know only two or three people who pay a marginal income tax rate of 40% i.e. have a taxable income of over 37,400. I don't think I know anyone with the 150,000 of taxable income to pay at the 50 per cent rate. Yes, National Insurance adds to the burden for almost everyone but those with incomes in six figures can certainly afford all the tax mitigation strategies such as investing in AIM stocks, Venture Capital Trusts, Enterprise Investment Schemes and so on. The 50 per cent rate is almost voluntary.

    I have no objection to people minimising their taxation by investing in employment producing businesses. I do object to people who do nothing worthwhile with their wealth. Mathew 25:14-30 and Luke 19:12-28.

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