Surely the UK median disposable income per person (accounting as it says in the article for household outgoings and after tax) cannot possibly be £37k?!
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I *think* they mean that you'd need to earn 150k together to pay 50k school fees and still be left with the take home pay of two people on 37k each. I haven't calculated the tax comparisons though so this may be wrong.
I assume they're looking at one person earning £100k minus tax and two school fees compared with two people both earning minimum wage minus a much smaller amount of tax.
Even if you accept that uneven pretext, the maths seems pretty dodgy.
But is this just a carelessly worded sentence or the crux of the whole article? Is it comparing post-tax, post-school costs disposable income of 100k+ earners against TOTAL, pre-tax income of minimum wage earners? Because disposable income on minimum wage is tiny, unless you’re a teenager w no rent
I know impressions can be misleading, but y he bog standard average middle Briton surely does not have the high side of 3k/month in walking around money.
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https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/householddisposableincomeandinequality/financialyearending2023
Even if you accept that uneven pretext, the maths seems pretty dodgy.
A man earning £250,000 per year could consider none of his income “disposable” as it all needs to be invested sensibly.
Many think this way, making the term useless.