Its the rich what gets the gravy
Before I begin the main text let me recommend http://www.guardian.co.uk/commentisfree/2012/jan/12/welfare-cuts-cameron?INTCMP=SRCH,
There are three interesting item of news that got me going.
(i) http://www.guardian.co.uk/business/2012/jan/13/tesco-boss-sells-shares-profits-warning
This explains how a senior director of Tesco's sold £200,000 of shares just before the announcement of the drop in profits! One of the defences of this is this only represented 5% of his shareholding. That means his shares are about £4 million pounds. It would take someone on £20,000 a year about 10 years to earn the amount that this director got by selling 5% of his shares.
(ii) http://www.guardian.co.uk/politics/2012/jan/14/ed-balls-labour-cuts-pay
Here we have the Labour shadow chancellor of the exchequer agreeing with the freeze on public sector pay. Most people may not be aware but most public sector workers are quite badly paid. Just compare with (i) to wonder quite whose side Mr Balls is on. There are well paid public sector employees, Members of Parliament, judges, some senior civil servants and even some bosses in loacl government and the agencies like HMRC.
Balls is well in touch with the 1992 and even with the era of the Thirties but he seems to have forgotten the lessons of the Winter of Discontent That was caused by an attempt of the then Labour Government to crack down on low-paid and public sector workers. It is possible to argue that this gave rise to Thatcherism. Control pay BUT start at the top not the bottom. One very successful idea was flat rate rises, this really helped the lower paid.
(iii) http://www.guardian.co.uk/theguardian/2012/jan/14/tonyblair-scotland?INTCMP=SRCH
Again from the Guardian:-
£315,000
The amount of tax paid by Tony Blair's companies on estimated earnings of £12m. What a guy. What a guy.
If he paid at the rate the ordinary guy would pay that should come to about £5million.
As I said the rich seemed to live a charmed life and when sacrifices have to be made it is the poor that neck!
There are three interesting item of news that got me going.
(i) http://www.guardian.co.uk/business/2012/jan/13/tesco-boss-sells-shares-profits-warning
This explains how a senior director of Tesco's sold £200,000 of shares just before the announcement of the drop in profits! One of the defences of this is this only represented 5% of his shareholding. That means his shares are about £4 million pounds. It would take someone on £20,000 a year about 10 years to earn the amount that this director got by selling 5% of his shares.
(ii) http://www.guardian.co.uk/politics/2012/jan/14/ed-balls-labour-cuts-pay
Here we have the Labour shadow chancellor of the exchequer agreeing with the freeze on public sector pay. Most people may not be aware but most public sector workers are quite badly paid. Just compare with (i) to wonder quite whose side Mr Balls is on. There are well paid public sector employees, Members of Parliament, judges, some senior civil servants and even some bosses in loacl government and the agencies like HMRC.
Balls is well in touch with the 1992 and even with the era of the Thirties but he seems to have forgotten the lessons of the Winter of Discontent That was caused by an attempt of the then Labour Government to crack down on low-paid and public sector workers. It is possible to argue that this gave rise to Thatcherism. Control pay BUT start at the top not the bottom. One very successful idea was flat rate rises, this really helped the lower paid.
(iii) http://www.guardian.co.uk/theguardian/2012/jan/14/tonyblair-scotland?INTCMP=SRCH
Again from the Guardian:-
£315,000
The amount of tax paid by Tony Blair's companies on estimated earnings of £12m. What a guy. What a guy.
If he paid at the rate the ordinary guy would pay that should come to about £5million.
As I said the rich seemed to live a charmed life and when sacrifices have to be made it is the poor that neck!
Labels: Inequality
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10:48 AM
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