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Wednesday, April 09, 2008 

Tory wolf in Labour clothing part two.

This letter in today's Grauniad says everything my post yesterday failed miserably to do:

Both my husband and I are to have our income reduced due to the removal of the 10p tax rate. I am disabled and receive incapacity benefit and an occupational pension (both taxed). My husband works full time for a low wage. He hasn't had a pay increase in nine years. Our children are grown up and we are below pension age. We are not entitled to tax credits. We are on the brink of poverty. And this from a so-called Labour government. I despair.

Josette Morgan
, Potton, Bedfordshire

Justin has more of much the same.

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I've just worked out the full details including NI as well as Income Tax. The low point is those on an annual wage of £7,445 who will lose £152.29 compared to last year, break even point is £15,069 and everyone on over £41,435 a year will walk home with an extra £869.11; so some people will be happy.

Of course as you've said elsewhere all those low earners should get tax credits (um if they qualify) so to get this straight the government is taking more money away from the poor then making them apply to get some back; makes perfect sense.

Oopsie some small miscalculations on the NI in part due to an error by me and also due to the fact that the b*stard HMRC quote annual figures for everything except NI (weekly) and that they've yet to get their own NI calculator working so I can check my figures.

Anyway as above but with the low point the same at £7,455 losing £157.90 instead, break-even at £15,350, and the top earners taking home £291.50 extra.

The new graph looks so strange I wonder if anyone actually knows what they're doing?

No, I don't think they've got the slightest clue. New Labour's done some really low and dirty things, but robbing from the very lowest paid who are already taxed out of all proportion to their earnings and giving it those who earn almost double the average wage has to rank up there with their very worst excesses.

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