How convenient that rich people need to be given more money in order to be productive, while poor people need to have money taken away in order to be productive…
> In 2022, it is estimated that the top one per cent of income earners will pay 22% of total income tax and USC, while those earning less than €56,000, which is the bottom 75% of income earners, will contribute just 18%.
I mean, yeah, that’s how progressive tax rates work. This makes it sound like there’s some sort of punitive tax for being in the top 1% or top 25% or whatnot, but there isn’t, really; a PAYE worker making €750k would pay the same marginal rate of tax as one making €75k. The former might be paying ~10x the tax, but they’re also bringing home ~10x the net income *after* paying that tax, so they can hardly claim to be worse off.
Those who make more *should* pay more taxes in general. They can better afford it, and their tax money goes towards improving the very society that allowed them to become successful in the first place. Asking higher earners to pay taxes isn’t “demonising” them; income tax isn’t a form of punishment.
Hell, I’d be fine with some tweaking of the rate bands and maybe adding another band or two in what is now the middle and bumping up the top rate to compensate, even if it results in me paying a bit more in tax myself in the end.
“The problem with socialism is that you eventually run out of other people’s money.”― Margaret Thatcher. How right she was!
This is the same lad who said in 2007 that we would have a soft landing and we had a healthy housing market.
Eat the rich, especially if they’re laying golden eggs
ok, we’ll let the high earners and the millionaires off. but the billionaires? we’ll have to have them. they just got too greedy. we should take them out and redistribute the wealth. can i get an amen?
One of the worst traits in this country is Tall Poppy Syndrome.
There is a minimum wage, there should be a maximum wage, Jim.
No income tax in Alaska, texas ,florida + 4 other states.
Yeah but then we get to eat the goose
If you are earning above €70k, you would be much better off working in Australia, the UK, New Zealand, the US, or any other comparable country. We have the highest rate of CGT in the OECD and they are talking about increasing it. Deemed disposal makes it ridiculous to invest in funds, and seems to be a peculiar Irish tax. Property is no way to increase wealth anymore. The fact is that it makes no sense to stay in this country if you earn a decent wage.
For simplicity sake I rounded numbers to approximate equivalent amounts:
Australia: AUD$100k – $75,033 (75%). CGT is complicated in oz, but ultimately lower, as you generally pay CGT on only 50% of the net gain.
New Zealand: NZD$111,000 – $81,907 (73.8%). No CGT at all.
What is a high earner in Ireland is not as much as you think. They are paying a tonne of tax to fund things like HAP at the lower end. But this article is correct – be careful what you wish for, as higher earners tend to be more mobile workers, and if it becomes even more prohibitive to work here, they can and will leave for other jurisdictions. It’s the law of unintended consequences.
Once again completely misunderstanding the actual position of most people on the left.
High *earners* are already taxed up the fucking jaxxy. What most people scraping by have an objection to is not other people who work for a living. It’s the entire class of people who don’t work but somehow have secured themselves a prime spot at the top of society. Landlords who cram students into mold-infested houses to try to cover the mortgage on their 6th ‘investment property’. Wealthy people who inherited a fortune and use schemes to avoid almost all taxes when they make profit from shares or investments. The ‘owning’ class that manages to avoid paying into the system that keeps them rich.
No, I don’t think many people point at those making 100k or 200k and say ‘tax them 90%!!’
But I’m sure a lot of people have strong feelings about a shifty landlord in their past who inherited a few properties and makes his tenants lives a misery while he waxes lyrical about his ‘business skills’. Or a rich dickhead who banks 200k on a single share deal and uses a maze of shell companies and charities to avoid paying any taxes on it.
Does he think that consumption and production comes from… CEOs? This is as stupid as Thatchers “eventually you will run out of money” quote.
The amount of comments here treating somebody on 70-100k year as if theyre scrooge mcduck. We have insanely high taxes on those middle income earners to pay for insane benefits for the welfare classes and allowing the lowest income earners pay basically nothing.
Nothing wrong with what he’s saying. Ireland’s income taxation is extremely progressive, this is well documented. If you are a high earner you hand over a massive amount of your money to the government and if you’re a low earner you hand over a tiny amount. This means we can offer very generous social welfare to people but it also means it’s a very bad country to be on a high wage in.
We are a left of centre country and I don’t think any political party will change that. The risk is that someone will come along and try to push us even further left with taxation and we’ll wind up like Cuba
Millionaires dont earn anything. That’s stolen labor.
I’m a relatively higher earner , 100k plus, looking at moving to Ireland. I worked for many years to get to this payscale. That’s what lots of people forget.
Between the high taxes and high costs I’m seriously looking at all alternative options right now.
The hit to my pocket is in the 10s of 1000s if I move to Ireland compared to some alternatives. These are my prime earning years.
Not only that capital gains is an insane 33% on common investments such as stocks.
How are we supposed to invest in our future?
And if I pay upwards of 50k tax per year what does my family get for it?
I really would love to live in Ireland again but I think the government is doing its best to not let that happen.
22 comments
They could stop being demons to stop the demonising. Just an idea.
Who cares if the golden egg was only ever shared with high earners in the first place.
[deleted]
https://youtu.be/77kCUlOsr6c this sounds good if it could be implemented for a year or two here
How convenient that rich people need to be given more money in order to be productive, while poor people need to have money taken away in order to be productive…
> In 2022, it is estimated that the top one per cent of income earners will pay 22% of total income tax and USC, while those earning less than €56,000, which is the bottom 75% of income earners, will contribute just 18%.
I mean, yeah, that’s how progressive tax rates work. This makes it sound like there’s some sort of punitive tax for being in the top 1% or top 25% or whatnot, but there isn’t, really; a PAYE worker making €750k would pay the same marginal rate of tax as one making €75k. The former might be paying ~10x the tax, but they’re also bringing home ~10x the net income *after* paying that tax, so they can hardly claim to be worse off.
Those who make more *should* pay more taxes in general. They can better afford it, and their tax money goes towards improving the very society that allowed them to become successful in the first place. Asking higher earners to pay taxes isn’t “demonising” them; income tax isn’t a form of punishment.
Hell, I’d be fine with some tweaking of the rate bands and maybe adding another band or two in what is now the middle and bumping up the top rate to compensate, even if it results in me paying a bit more in tax myself in the end.
[Same fella?](https://twitter.com/newsworthy_ie/status/881903267411881985?s=20&t=kuGVzBJewArVMnzRJeZB3A)
“The problem with socialism is that you eventually run out of other people’s money.”― Margaret Thatcher. How right she was!
This is the same lad who said in 2007 that we would have a soft landing and we had a healthy housing market.
Eat the rich, especially if they’re laying golden eggs
ok, we’ll let the high earners and the millionaires off. but the billionaires? we’ll have to have them. they just got too greedy. we should take them out and redistribute the wealth. can i get an amen?
One of the worst traits in this country is Tall Poppy Syndrome.
There is a minimum wage, there should be a maximum wage, Jim.
No income tax in Alaska, texas ,florida + 4 other states.
Yeah but then we get to eat the goose
If you are earning above €70k, you would be much better off working in Australia, the UK, New Zealand, the US, or any other comparable country. We have the highest rate of CGT in the OECD and they are talking about increasing it. Deemed disposal makes it ridiculous to invest in funds, and seems to be a peculiar Irish tax. Property is no way to increase wealth anymore. The fact is that it makes no sense to stay in this country if you earn a decent wage.
For simplicity sake I rounded numbers to approximate equivalent amounts:
Ireland: €70k – €47,523 (67.9%). CGT 33%
England: £60k – £42,900 (71.5%). CGT property 28%. Non property 20%
Australia: AUD$100k – $75,033 (75%). CGT is complicated in oz, but ultimately lower, as you generally pay CGT on only 50% of the net gain.
New Zealand: NZD$111,000 – $81,907 (73.8%). No CGT at all.
What is a high earner in Ireland is not as much as you think. They are paying a tonne of tax to fund things like HAP at the lower end. But this article is correct – be careful what you wish for, as higher earners tend to be more mobile workers, and if it becomes even more prohibitive to work here, they can and will leave for other jurisdictions. It’s the law of unintended consequences.
Once again completely misunderstanding the actual position of most people on the left.
High *earners* are already taxed up the fucking jaxxy. What most people scraping by have an objection to is not other people who work for a living. It’s the entire class of people who don’t work but somehow have secured themselves a prime spot at the top of society. Landlords who cram students into mold-infested houses to try to cover the mortgage on their 6th ‘investment property’. Wealthy people who inherited a fortune and use schemes to avoid almost all taxes when they make profit from shares or investments. The ‘owning’ class that manages to avoid paying into the system that keeps them rich.
No, I don’t think many people point at those making 100k or 200k and say ‘tax them 90%!!’
But I’m sure a lot of people have strong feelings about a shifty landlord in their past who inherited a few properties and makes his tenants lives a misery while he waxes lyrical about his ‘business skills’. Or a rich dickhead who banks 200k on a single share deal and uses a maze of shell companies and charities to avoid paying any taxes on it.
Does he think that consumption and production comes from… CEOs? This is as stupid as Thatchers “eventually you will run out of money” quote.
The amount of comments here treating somebody on 70-100k year as if theyre scrooge mcduck. We have insanely high taxes on those middle income earners to pay for insane benefits for the welfare classes and allowing the lowest income earners pay basically nothing.
Nothing wrong with what he’s saying. Ireland’s income taxation is extremely progressive, this is well documented. If you are a high earner you hand over a massive amount of your money to the government and if you’re a low earner you hand over a tiny amount. This means we can offer very generous social welfare to people but it also means it’s a very bad country to be on a high wage in.
We are a left of centre country and I don’t think any political party will change that. The risk is that someone will come along and try to push us even further left with taxation and we’ll wind up like Cuba
Millionaires dont earn anything. That’s stolen labor.
I’m a relatively higher earner , 100k plus, looking at moving to Ireland. I worked for many years to get to this payscale. That’s what lots of people forget.
Between the high taxes and high costs I’m seriously looking at all alternative options right now.
The hit to my pocket is in the 10s of 1000s if I move to Ireland compared to some alternatives. These are my prime earning years.
Not only that capital gains is an insane 33% on common investments such as stocks.
How are we supposed to invest in our future?
And if I pay upwards of 50k tax per year what does my family get for it?
I really would love to live in Ireland again but I think the government is doing its best to not let that happen.