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UK PM Sunak commits to triple-lock pension policy despite inflation
(www.reuters.com)
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this post was submitted on 17 Aug 2023
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The triple lock is unsustainable. After a 10% boost because of inflation they’re about to get an 8% boost due to wage rises at a cost of 2.2b to workers. During a decade of stagnation they got the 2.5% boost creating an unsustainable debt.
We give more money to old people than defence, policing and education combined. You get less than 50% return on your taxes handed over.
It’s just not sustainable. These are exactly the people who should be paying tax in a fair society. Rejoining the EU and taxing a few companies won’t suddenly reduce the problems we have, it’s stupid to even suggest it given the gravity of our situation. We have the highest taxes in 75 years, a student loan puts your tax rate to 63%. Boomers got paid to go to uni. Our debt obligation is practically where it was after the Second World War.
People need wage rises to pay for housing that’s tripled in price since the 90s. Old people don’t have mortgages and they got help with their gas bills through other schemes… so why are you defending giving them 18% uplift when workers had to strike for just 6%?
The tory is strong in this one. You ofc can work out 10% inflation means 10% more tax income. Keep your stupid for GB news.
Nothing in my post is pro Tory. Tories are for the Triple lock and I’m against it. You didn’t read my post, you didn’t understand my post. You just typed some rude shit in like a dumb fuck.
We cannot afford to give people what they need is a constant Tory theme. We cannot afford the NHS, social benefits, care for the disabled.
You still cannot deny that 10% inflation should mean 10% extra taxes returned. And as such we can afford it. We could afford it even more if the well off paid a fair amount of tax or may be we stopped giving money to oil companies instead of actually taxing them.