I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???
Monday, 29 December 2008
The families are living on handouts worth in excess of £20,000 a year, official figures show.
The enormous payouts dwarf the incomes of millions of hard-working families who are struggling to cope with the recession and the rising cost of living.
The average salary is £25,100 before tax, but after deductions it shrinks to £19,126. In contrast, state benefits are tax-free.
A worker would have to earn £27,000 a year to take home more than £20,000.
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