A director of Adam Smith Institute is arguing that because one in four UK pensioners is a millionaire, the provision of free bus passes and other benefits should be subject to revision.
https://twitter.com/eamonnbutler/sta...QPKSr65ecw8fHg
This seems to be based on an estimate of lived in property value and also is based on 'household' rather than individual persons. As the value of a property is not realised until it is sold vacated, it is obvious that the elderly persons living in it will need to use some of this capital to buy somewhere to live elsewhere, at the same inflated prices, this seems to me to be lying by statistics.
As Adam Smith was a well known economist who argued that economics should be based on free market forces, this topic thus belongs in the politics section, as the Adams Smith Institute is to do with influencing political policy.
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Eamonn Butler @eamonnbutler One in four pensioners is a millionaire, but we’re still giving them free bus passes, lower national insurance tax rates and other benefits. Oh, and triple locking their state pension payments. Where is the justice in that? 11:28 AM · Jul 1, 2022 |
This seems to be based on an estimate of lived in property value and also is based on 'household' rather than individual persons. As the value of a property is not realised until it is sold vacated, it is obvious that the elderly persons living in it will need to use some of this capital to buy somewhere to live elsewhere, at the same inflated prices, this seems to me to be lying by statistics.
As Adam Smith was a well known economist who argued that economics should be based on free market forces, this topic thus belongs in the politics section, as the Adams Smith Institute is to do with influencing political policy.
via International Skeptics Forum https://ift.tt/UCgAMKz
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