Yossarian wrote:Market forces are still market forces and supply and demand will surely set prices. The benefit cap hasn't dented the London rental market, for instance, meanwhile in towns with an oversupply of housing, who is going to risk charging the maximum benefits will allow and potentially end up with an empty property?
poprock wrote:So Housing Benefit gets payed directly to the landlord? I didn’t know that. I claimed it for a while back in ’99 and in those days it came to me, not my landlord.
Diluted Dante wrote:I think people bringing in household income is confusing things. This isn't relevant. The discussion began with income tax. So if you personally earn 70k. The people that early 70k up are the top 5% of earners in this country. For context, top 1% is 162k. Those raking in millions a year are the tiniest, tiniest proportion of the country.
This table gives certain percentile points of the income distribution as estimated from the Survey of Personal Incomes for each survey year shown. The table only covers individuals who have some liability to income tax. The percentile points have been independently calculated on total income before tax and total income after tax.
Diluted Dante wrote:I've no idea what that means I'm afraid. The 50% mark by the way is £22,400, and 75% is £34,500. 90% is 51,400 for further context. 95% is actually 71,700 so it is ever so slightly below the top 5% figure, but it's certainly nearer to top 5% than top 6%
WorKid wrote:Stats based on just those with taxable income of course.
Mr McDonnell said: “We will be looking to see how we ensure a fair taxation system and, to be frank, what we’ll be doing is we’ll be looking to the corporations and the rich to pay their share.
“You look at what’s happening in this country at the moment and you see that the burden in terms of the tax take has fallen on middle and low earners … below the higher tax bands.”
Speaking on BBC Radio 4’s Today programme, he added: “We believe we are talking about the rich, will be above 70,000 to 80,000 a year, and that’s roughly defined as what people feel is an earning, whereby people feel they can pay more.”
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