Sunday, February 12, 2012

EU Austerity aimed at the poorest.

Earlier in the week I pointed out the obscenity of cutting the minimum wage in Greece by almost one quarter, namely 22%, and suggested this was a philosophy coming from the high-living Troika officials usually to be found in Brussels' bars and restaurants.

More evidence that hitting the poorest is very much a factor of the EU arrangements comes in a report in the Irish Independent this morning, linked here, which has the following facts on the Troika imposed austerity in their country, at the opposite end of the EU's subjugated territories from Greece, some quotes:

They showed that the "coping classes" earning anything from €17,543 to €50,000 are bearing the brunt of austerity.
The biggest burden has fallen on those earning €17,542 to €20,000, who have collectively paid three times more tax in 2011 than they did in 2010 -- or a shocking 215 per cent increase.
Those earning €20,001 to €30,000 are paying 36 per cent more tax than they did in 2010 and those earning between €40,001 and €50,000 are paying 23 per cent more.........

However, leadings tax consultants said yesterday the figures showed how the tax hikes have had a "disproportionate effect" on the lower paid while leaving the country's highest earners largely unscathed.
For example, the 118 people in the country who earn more than €2m paid 0.3 per cent less in tax in 2011 than they did in 2010; the 1,148 who earned between €400,001 and €450,000 paid just 1.1 per cent more in tax.

Remember in the EU everything is standardised, misery caused by the mistakes of the worthless at the top will be unduly borne by those at the bottom. This will follow in Britain, France and Germany too as the inefficiency and corruption further kills growth and the remit of the so-called Troika widens.



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