It is certainly nonsense that people in large houses with small incomes get so much media coverage for their inability to pay their council tax, when they have access both to a means of increasing their ability to pay, and of reducing the bill.
However, as as society there has to be some incentive for people to accumulate wealth as well as to consume it. If my job's insecure in your system, I may as well spend my savings today on things I want, rather than next year on things I need - the taxpayer can cover that.
The actual answer for these pensioners is probably to buy an annuity with their excess savings, of course, the pension guarantee savings reward element or whatever it's called this year should see them right on the maths.
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timeasmymeasure
no subject
Date: 2009-01-08 04:46 pm (UTC)However, as as society there has to be some incentive for people to accumulate wealth as well as to consume it. If my job's insecure in your system, I may as well spend my savings today on things I want, rather than next year on things I need - the taxpayer can cover that.
The actual answer for these pensioners is probably to buy an annuity with their excess savings, of course, the pension guarantee savings reward element or whatever it's called this year should see them right on the maths.