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> Economy

Govt penalizes middle class – and those who have second jobs!

The dwindling middle class bears brunt of social contribution fund

Newsroom June 6 09:40

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Prime Minister Alexis Tsipras stated that the mandatory social contribution fund will continue to apply to those who declare incomes of more than 30,000 euros per year, even if they manage to earn that much as a result of working second or third jobs, regardless of their needs. In Greece, people who gross 2,500 euros per annum (or 2,000 euros net) are considered privileged and are placed in the same grouping as those who earn 500,000 and more per annum.

It is estimated that 250,000 households make up Greece’s dwindling middle class with declarable incomes that range from 30,000 to 50,000 euros per annum. Many of these owe oney and are working hard to fulfill their obligations to banks and credit institutions, oftentimes working more than one job in order to receive this amount. The government, rather than make a specification between those who earn money from working and those whose money comes as accruement from other investments.

Though wage earners who receive more than 30,000 euros per annum will bear the brunt of the contribution, those who earn 1,000-1,500 euros per month will also be required to pay a social contribution.

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