Monday, 12 May 2014

Tax and rent freedom day

According to the incorrectly named Adam Smith Institute, Tax Freedom Day is on 28 May 2014.

Not to be outdone, as part of the never ending effort to stampede you into taking out big mortgages, Lloyds Banking Group have calculated that rent freedom day is today 12 May 2014, according to them, "mortgage freedom day" is a whole month earlier (or twenty-five years later, depending on your point of view).

So mathematically*, tax and rent freedom day is on 12 August 2014.

Whatever crimes we've committed and are being punished for, instead of making us serve consecutive sentences, how about lumping the tax bill onto the landlord and making the sentences concurrent?

* 146/365 of your earnings are taken in tax, so your disposable income is 219/365 of gross. 130/365 of your disposable income is taken in rent, leaving you with 235/365 of your disposable after rent. Multiply those fractions, then multiply the result by 365 to convert it to days and subtract from 31/12/2014.

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