Vox Political: Government Raiding Pensions of Middle Income Groups

Beastrabban\'s Weblog

Yesterday, Mike over at Vox Political posted this piece at http://voxpoliticalonline.com/2016/01/18/george-osbornes-plans-could-see-savers-lose-a-third-of-their-pension-in-tax-changes/ reporting that the government is closing a tax loophole for middle income savers. This could result in some of them losing as much as a third of the pension savings.

Mike has mixed feelings about this, as on the one hand it is a tax loophole, and so needs to be closed. On the other hand, Osbo certainly isn’t going for the super rich, who owe far more. He raises the question of whether it’s Osbo’s class bias showing.

Of course it is. It’s part of the ongoing destruction of the middle class by the rich in America, Britain and right across the world where the doctrine of free market capitalism and globalisation has been uncritically swallowed. I’ve posted up this very evening a video with the Pulitzer Prize winning American journalist, Chris Hedges. In it he describes how…

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