Your Share of the Anglo Bailout

OK, distributing the 35B across the taxpayers based on the tax revenue as a percentage of income per the 2006 income tax distribution statistics puts the cost per tax payer, that will eventually be recovered in tax if we dont default (+interest) and there is no great change to the progressive taxation policies as follows:

Median          Cost Distributed Number         Average         Interest        Total           Discounted
Income          Per Income Tax   of cases       Cost            5%, 20 Years    Cost            @2% pa
               DIstribution                                                                      2010 Real

-               7,000,000        463,060         15             9               24              19 
11,000          7,000,000        86,203          81             49              130             103 
13,500          17,500,000       125,823         139            84              223             176 
16,000          28,000,000       91,943          305            184             489             386 
18,500          157,500,000      140,431         1,122          678             1,800           1,423 
22,500          588,000,000      219,919         2,674          1,617           4,291           3,392 
26,000          343,000,000      81,588          4,204          2,543           6,747           5,334 
28,500          598,500,000      112,637         5,314          3,214           8,527           6,742 
32,500          1,214,500,000    164,513         7,382          4,465           11,848          9,367 
37,500          1,515,500,000    135,277         11,203          6,776          17,979          14,214 
45,000          3,272,500,000    193,839         16,883          10,211          27,094          21,420 
55,000          3,118,500,000    127,834         24,395          14,755          39,150          30,952 
67,500          4,084,500,000    122,552         33,329          20,159          53,488          42,287 
87,500          4,907,000,000    97,549          50,303          30,426          80,729          63,824 
125,000         5,043,500,000    60,576          83,259          50,359          133,618         105,638 
175,000         2,184,000,000    16,210          134,732         81,493          216,224         170,945 
238,000         1,788,500,000    9,468           188,899         114,256         303,156         239,673 
Over 275K        6,125,000,000   11,714          522,879         316,264         839,143         663,420 
                35,000,000,000                                  

Edit to include interest cost ofer 20 years and discount this back to 2010 money at 2% pa.

The problem is that the masses dont understand this because its funded by borrowings paid back over the long term.

Pity there isn’t an ‘anglo bailout’ on everyones pay slip.

That idea did cross my mind some time ago.
Would it be possible to bring in a 10% ‘S&M’ (Sean and Michael) Tax ?

Alternatively you could have a 10% ‘FF’ tax … ‘Fitzpatrick and Fingleton’ of course :wink: