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Thursday, June 15, 2006

Time to tighten our belts 

So Scrooge McCullen thinks we plebs shouldn't be asking for decent pay increases this year, eh? I/S at Norightturn tells him what he thinks of that. With inflation around 3.9%, substantial pay increases will just make things worse, apparently.

So basically we should accept a cut in our purchasing power and quality of life so as not to make things worse in the future? It's tempting to think that anything under 3.9% and you're worse off than last year. But that doesn't take account of the fact that if you get, say, a 3.9% increase, you don't actually see a decent chunk of that - it disappears as tax. What's the marginal tax rate for the average pleb I wonder? 35%? 40%? Anyway, just to keep up with last year you'd need to get a pay increase of at least 5.5% I reckon. And as many have noted, both Cullen and Bollard managed that this year.

Cullen was harping on about how the journalist at the beehive only wanted tax cuts for selfish purposes and people like him and them did not need them then a week later he is getting an 8% pay increase.

Which by my reckoning would be significantly more than any extra he would get froma tax cut.

Hope one of those journalists points that out to the smug prick.

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