Alright, now let’s see what then distribution is like within that 10%
>look inside
>its another proxy measure for the real estate market again
This is a stat that the media love to run to promote outrage but actually it’s not bad compared to other wealthy countries. In the US 1% own over 40% of the wealth! It’s normal for a capitalistic society to have wealth inequality but we still present it as a “flaw”.
If you are poor it is your fault though
Im guessing mortgages are a huge dividing line for wealth status in these statistics? Someone starting a mortgage is negative in assets compared to an elderly homeowner with the mortgage paid off – even if they have similar houses and lifestyles.
If you click through the links you see that to be in the top 10% you need a net wealth of €1,024,000. That is assets minus debts. Given the housing market in Dublin I’d say a lot of retired people in Dublin are fairly close to that but wouldn’t feel exactly wealthy as all the wealth is in the walls of their home and locked away in their pension pots that they built up over decades working and they now live off.
A better question might be what percentage of people hold half the DISPOSABLE wealth in Ireland (i.e. wealth they can actually use any way they wish). I’d suspect we are talking about a few thousand people at best.
Great little country
For context the bottom 50% of adults own less than 1% of the wealth.
And they want you scrapping and fighting among yourselves over that 1%.
And then they’ll say it’s the asylum seekers
“Wealth inequality” is a transparently bullshit measure of anything. If you have 1m and I have 0, that’s massive inequality. If you suddenly lose your 1m, we’re now equal… but my situation hasn’t changed at all.
The reality is we’ve moved to “inequality” as the measure of choice because real poverty effectively no longer exists, certainly in Ireland but in most of the western world. Living standards even for the poorest in society are beyond the imaginings of even someone from just a century ago – which is a great thing! But “we solved poverty” isn’t a great story so we’ve moved on to “oh no, inequality.” I can assure you that no one in South Sudan is worried about inequality. But you can be damn sure they’re worried about poverty.
Trickle down economics. And you should be happy you get the trickle you little ants.
oh shit, is that a guillotine
The trickle down is awful slow.
Unfortunately inherited wealth results in this. It only really resets if there is war or a revolution but even then it doesn’t wipe it as someone will always benefit.
Also dont really see a solution unless you get into fantasy land of something like all governments agreeing that any wealth over a set number is taken and redistributed to charity.
Ya no shit, it’s on here weekly.
Try it sometime owning 3 houses and paying for cars and housekeepers and everything else.
First wealth is concentrated then social mobility is reduced then social influence and authority leans more towards the wealthy then quality of life plummets for the non wealthy and so on until whoever is left with the wealth has the power to do whatever they want with those who don’t have wealth. Hopefully people liked ancient Rome and have rich mates who will patronize them
That’s one way to stagnate your economy. Velocity of money goes through the floor when you have such an obscene concentration of wealth.
It would be improving if the disparity wasn’t so great in America. American corporations control a large section of the economy. They set the wages.
They pay everyone less in Ireland. This is the notion of Ireland. Wages can be double for the same role within an American state. Or more.
How are you supposed to have a chance to accumulate with large pay disparity?
I wonder do they consider farms as assets for this metric? If so I’d say there’s a lot of farmers in that 10%
Many of this top 10% are leading supporters of Fine Gael & Fianna Fáil so govt are happy
As richest 10%s go that’s a pretty miserable showing:
UK = 52%
USA = 70%
France = 52%
Germany = 60%
Sweden = 60%
Come on ireland, you can do better than 49%!!!
They earned it though right? Or stole it? If they earned it i admire them, wish I was as bright and hardworking.
Generous too because Ireland has a really progressive tax system so it must be tempting to reside somewhere else.
The richest 10% of earners pay almost 2/3 of income tax and USC. Doesn’t sound fair, but thank you.
That’s not bad tbh. Most other western countries are much worse
I wonder how that stacks up internationally. I bet in lots of countries it’s far less than 10%. Globally (according to a quick Google) the top 10% owns 85% of the wealth, so it seems Ireland is doing better than average if they only own 50%.
And no matter who’s in government it will stay the same
In the US the top 10% own 80%, definitely a correlation with inequality and people getting pushed towards extreme politics. Should be a worry for us here.
So who are the richest? Not Gran in her four-bed council house.
29 comments
Alright, now let’s see what then distribution is like within that 10%
>look inside
>its another proxy measure for the real estate market again
This is a stat that the media love to run to promote outrage but actually it’s not bad compared to other wealthy countries. In the US 1% own over 40% of the wealth! It’s normal for a capitalistic society to have wealth inequality but we still present it as a “flaw”.
If you are poor it is your fault though
Im guessing mortgages are a huge dividing line for wealth status in these statistics? Someone starting a mortgage is negative in assets compared to an elderly homeowner with the mortgage paid off – even if they have similar houses and lifestyles.
If you click through the links you see that to be in the top 10% you need a net wealth of €1,024,000. That is assets minus debts. Given the housing market in Dublin I’d say a lot of retired people in Dublin are fairly close to that but wouldn’t feel exactly wealthy as all the wealth is in the walls of their home and locked away in their pension pots that they built up over decades working and they now live off.
A better question might be what percentage of people hold half the DISPOSABLE wealth in Ireland (i.e. wealth they can actually use any way they wish). I’d suspect we are talking about a few thousand people at best.
Great little country
For context the bottom 50% of adults own less than 1% of the wealth.
And they want you scrapping and fighting among yourselves over that 1%.
And then they’ll say it’s the asylum seekers
“Wealth inequality” is a transparently bullshit measure of anything. If you have 1m and I have 0, that’s massive inequality. If you suddenly lose your 1m, we’re now equal… but my situation hasn’t changed at all.
The reality is we’ve moved to “inequality” as the measure of choice because real poverty effectively no longer exists, certainly in Ireland but in most of the western world. Living standards even for the poorest in society are beyond the imaginings of even someone from just a century ago – which is a great thing! But “we solved poverty” isn’t a great story so we’ve moved on to “oh no, inequality.” I can assure you that no one in South Sudan is worried about inequality. But you can be damn sure they’re worried about poverty.
Trickle down economics. And you should be happy you get the trickle you little ants.
oh shit, is that a guillotine
The trickle down is awful slow.
Unfortunately inherited wealth results in this. It only really resets if there is war or a revolution but even then it doesn’t wipe it as someone will always benefit.
Also dont really see a solution unless you get into fantasy land of something like all governments agreeing that any wealth over a set number is taken and redistributed to charity.
Ya no shit, it’s on here weekly.
Try it sometime owning 3 houses and paying for cars and housekeepers and everything else.
First wealth is concentrated then social mobility is reduced then social influence and authority leans more towards the wealthy then quality of life plummets for the non wealthy and so on until whoever is left with the wealth has the power to do whatever they want with those who don’t have wealth. Hopefully people liked ancient Rome and have rich mates who will patronize them
That’s one way to stagnate your economy. Velocity of money goes through the floor when you have such an obscene concentration of wealth.
It would be improving if the disparity wasn’t so great in America. American corporations control a large section of the economy. They set the wages.
They pay everyone less in Ireland. This is the notion of Ireland. Wages can be double for the same role within an American state. Or more.
How are you supposed to have a chance to accumulate with large pay disparity?
I wonder do they consider farms as assets for this metric? If so I’d say there’s a lot of farmers in that 10%
Many of this top 10% are leading supporters of Fine Gael & Fianna Fáil so govt are happy
As richest 10%s go that’s a pretty miserable showing:
UK = 52%
USA = 70%
France = 52%
Germany = 60%
Sweden = 60%
Come on ireland, you can do better than 49%!!!
They earned it though right? Or stole it? If they earned it i admire them, wish I was as bright and hardworking.
Generous too because Ireland has a really progressive tax system so it must be tempting to reside somewhere else.
The richest 10% of earners pay almost 2/3 of income tax and USC. Doesn’t sound fair, but thank you.
That’s not bad tbh. Most other western countries are much worse
I wonder how that stacks up internationally. I bet in lots of countries it’s far less than 10%. Globally (according to a quick Google) the top 10% owns 85% of the wealth, so it seems Ireland is doing better than average if they only own 50%.
And no matter who’s in government it will stay the same
In the US the top 10% own 80%, definitely a correlation with inequality and people getting pushed towards extreme politics. Should be a worry for us here.
So who are the richest? Not Gran in her four-bed council house.
[This year’s](https://secretireland.ie/irelands-rich-list-a-look-at-the-wealthiest-individuals-and-irelands-place-in-global-wealth/) 10 richest
[Irish billionaires](https://en.wikipedia.org/wiki/List_of_Irish_billionaires_by_net_worth) by net worth (check out their ages)…
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