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WITH the barrage of cuts, taxes and levies that people are experiencing, the real issue that is created is being overlooked. When one of these Revenue collecting/saving schemes is imposed, it is reported as a percentage of earnings.
The reality for most people is that the percentage matters little.
Their real issue is how much money do they actually get in the end to live on. To illustrate the point, a senior civil servant on €150,000 and a dole recipient will have vastly differing outcomes from a 10% drop in money to live on.
The dole recipient will be left with €175.50 to house, feed and clothe himself and his family each week, while the senior civil servant will gross weekly stipend of €2,596 before deductions. When you hear employers telling you that they cannot afford to pay the minimum wage, what they are telling you is that they don’t have a viable business without slave labour. So next time you hear some lofty economist argue already pathetic incomes must be hit by some percentage or other, tell him to try living on the euro that leaves.
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