Written by Cigpapers
Photos and captions by Watt Tyler
What Are Tax Credits And Who Started Them?
Tax credits ( or wage top ups ) are when the Government top up the wages of low income workers with taxpayers’ money. They were started under New Labour by Blair and Brown.
So Why Is It A Swindle?
As usual this swindle is based on transferring taxpayers’ money to Global Greed Inc. who get subisdised workers, in return the workers have the humiliation of begging to the State after working all week. The corrupt politicians get their pay offs later in multi-million pound consultancy fees. It was a very easy New Labour pinko/socialist cover story to describe this as helping low paid workers, instead of having a decent minimum wage that Global Greed Inc. would have had to pay themselves. In effect Tesco get taxpayer subsidised workers.
So How Much Does This Cost Taxpayers?
Next to the PFI fraud this is just pocket money for the banks and Global Greed Inc. The cost of Tax Credits ( taxpayer subsidised workers ) was just under £30 Billion in the tax year 2012 to 2013. That is about £500 taken from every man, woman and child in Great Britain to subsidise big business. The cost is even more though because we are borrowing this money from the Banks with interest.
If The Solution Is A Higher Minimum Wage Wouldn’t That Lead To Price Inflation?
That is the argument that Global Greed Inc. , the Banks and their puppet Politicians will give. However that is based on the assumption that businesses set their prices on some sort of socialist “fair price” principle. In fact businesses set their prices as high as they can without starting to lose business and therefore profits falling i.e. Starbucks would already be charging more for their coffees if they could without sales falling. Some small local, labour intensive businesses may have to put up their prices slightly. But should people get a taxpayer subsidised car valet anyway?
The tax credit swindle is dwarfed by the PFI fraud pulled off by New Labour: