How much do you have to earn in Ireland to pay enough tax to cover the amount the government spends on you per year?
How much do you have to earn in Ireland to pay enough tax to cover the amount the government spends on you per year?
9 comments
6 million.
How much do you have to earn in Ireland to cover the amount the government spends on themselves ?
You have earnings after tax, which you spend and pay VAT, which the shop pays their own income tax on, and they pay their staff a wage which they get taxed on.
I don’t even know how to begin to figure it out.
An extra 1/3 of what you would like to take home.
1. How much does the government spend per person per year?
2. To pay that much in tax, how much do you have to make per year?
For example, the Irish government projects that it will spend €99.8 billion in 2023.
The last known figures for our population were: 5.033 million in 2021
99.8 billion to be spent this year.
Population 5.078m
So €19,653.
On Average.
So without any deductions and tax reduction credits, you would have to earn about €66,000
For you, the VAT on a bottle of cadet cola.
I make give or take, it works out, with expenses at about 140,000 a year and I pay 30.3 percent tax on that so it’s about a net 100,000. And out of that 100k I run a home in Dublin, Castlebar and Brussels.
Very interesting question.