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The Government has been accused of landing the low-paid with an effective tax rate of 93 per cent because of its planned steep withdrawal of tax credits.
Housing benefit (soon to be absorbed into universal credit) did improve matters but it costs £25bn a year, is costly to administer and relies on means testing and steep withdrawal rates.
But analysis by the Institute for Fiscal Studies IFSshowsows that those who are most dependent on benefits - the poorest families - face a steep withdrawal of benefit when they move into work.
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Already, some Democrats in Congress are pushing for steep withdrawals early on, while supporters of the war say that a rapid draw-down could endanger the Afghan mission altogether.
Barring steep withdrawals by investors, managers will put some of that built-up cash into the market as this fall's nervousness subsides, providing additional buying pressure, Mr. Berdine said.
Several officials involved in internal discussions about the testimony said that both General Petraeus and Lt. Gen. Raymond T. Odierno, the ground commander in Iraq, were worried about signing on to a timetable that would commit them to steep withdrawals in the spring.
At the same time, some White House officials have lost patience with the strategy and are urging a steeper withdrawal, particularly since Osama bin Laden's death in May and growing anger in Congress about the cost of the war.
Historically low interest rates and double digit house price inflation have led to a steep increase in equity withdrawal in the last couple of years, as people cash in on the money tied up in their homes.
Mr Krebs said a number of banks had told him about a steep increase in fraudulent ATM withdrawals on customers accounts since the hack was made public.
Those advocating steeper troop reductions did not propose a withdrawal schedule.
We did not, however, observe any deterioration in monitoring rates following withdrawal of the incentive: after a steep increase between 2004/05 and 2005/06, rates continued to increase more slowly between 2005/06 and 2011/12.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com