THE TAX AND BENEFIT SYSTEM
IS YOUR LIFETIME COVERED?
IN THE UK, TAXES AND BENEFITS ARE REDISTRIBUTED
OVER THE COURSE OF A LIFETIME.
YOUNG AND ELDERLY HOUSEHOLD HEADS PAID LESS IN TAXES
THAN THEY GAINED IN BENEFITS.
They are likely to pay less or no income tax and are prone to receiving benefits such as free education.
They are likely to pay less or no income tax and they are prone to depend on benefits such as free healthcare.
ON AVERAGE, MIDDLE AGED HOUSEHOLD HEADS PAID MORE IN TAXES THAN THEY GAINED IN BENEFITS.
64 + years
On average, they are likely to pay higher taxes due to factors such as their higher earning potential.