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New Labour Tax Rip Off
Darling wants your money to pay-off his rich friends
AS
low paid workers open their wage packets and wage slips at the end
of this month they are in for a big surprise.month they are in for a big surprise.
For
anyone on an annual salary of under £17,000 per year they will actually
receive less take home pay than they did at the end of the previous
month.
That’s
all down to robber Brown’s last budget which abolished the 10p rate
of tax, reduced the basic rate of tax from 22p in the pound
to 20p in the pound and raised the tax thresholds for all levels
of salaries in favour of the better off.
The
net result a shift in the tax burden from middle and high earners
to the lowest paid workers in society as the table below shows.
This
was the parting gift of former iron chancellor Brown to the poorest
sections of society.
This
comes on top of his initial gift in 1997 of abolishing the tax credits
on the dividends of pensioner’s investments.
It
is estimated that the net effect of this move was to reduce the value
of a pension by about 30 per cent over average person’s lifetime.
New
Labour has reversed the policy of progressive taxation where tax
rates are increased the more a person earns.
Instead
they have pandered to the needs of trying to maintain consumer demand
as their neo-liberal economic project hits the buffers by boosting
the spending power of middle and higher earners.
This
is at time when inflation is running rampant again with daily increases
in food prices, rocketing utility prices and soaring petrol
prices.
This
together with increase in housing costs, as lenders hit the poorest
and least able to pay sections of society, means that inflation
is running far above the government’s official figures of 2.5 per cent.
These
costs of basic goods and services are what the lowest paid spend
the overwhelming part of their income on. They will be badly
hit by this callous premeditated move.
It
is not as if there is not enough money to help the poorest sections
of society.
The
government have spent £110billion on nationalising Northern Rock
to stop a collapse of the global financial markets, billions
of pounds on illegal wars in
If
Labour MPs have an ounce of compassion and social conscience they should
oppose this vicious anti-working class tax change.