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ESRI wants to replace PRSI with social charge


HarshBuzz

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Feb 28, 2008
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11,935
first impression are that this would be great news for high earners? currently the extras add up to 12%

I'm sure they'll screw around with the bands and possibly even the rates to compensate. No doubt the PRSI ceiling will go too.
 

Flynnster

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Feb 5, 2007
Messages
128
@ Charley - the minister for finance announced this last year in his budget speech. The change itself is not news, its how it is proposed to be implemented which is the news and this is what the ESRI is commenting on so it is untrue to state the ESRI want to replace PRSI with a "Social Charge"
 

DCon

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FF will love this bit

The top rate taxpayers would see their marginal rate fall from 52% to 48.5%.

However, all other income groups would lose out, unless there was a compensating mechanism, such as higher top income tax rates.
Assuming any of their sponsors are still paying tax in this country, that is..
 

nonpartyboy

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Dec 24, 2006
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What about the health levy ? Why not simplfy the public sector pension at the same time, I now have 4 separate deductions on my paycheck related to pension, yet I only get one ? And that doesn't even include my prsi which is also supposed to be a pension deduction aswell.

Pay
- tax
- social levy
- pension
= take home pay
 

richie268

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Sep 14, 2007
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@ Charley - the minister for finance announced this last year in his budget speech. The change itself is not news, its how it is proposed to be implemented which is the news and this is what the ESRI is commenting on so it is untrue to state the ESRI want to replace PRSI with a "Social Charge"
Who feeds the Dog the bone?
Answer = Department of finance.
Two acute Addicts been fed by the taxpayer but operating INDEPENDENTLY I suppose?
 

culmore

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what the fu-k has this country come to, robbing thre poor again to help the rich, and people still spport this government
 

cyberianpan

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Website
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It should also encompass Employer's PRSI... this is a "stealth tax", often forgotten about
 

HarshBuzz

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It should also encompass Employer's PRSI... this is a "stealth tax", often forgotten about
it's actually pretty low by euro standards but you make a good point, if we want to encourage job creation then we need to actively incentivise employers to hire
 

Chrisco

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Jan 14, 2008
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3,830
The ESRI are not promoting this: it was announced by Lenihan last year. They are simply discussing the modalities of what it could mean.
 

locke

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May 2, 2007
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I agree with the idea of rolling the levies and PRSI into one charge.

But, as someone who would benefit from a drop in tax as a result, I couldn't justify seeing the amount I contribute go down, when I can afford to contribute, the state needs the money and there are plenty out there who would lose money they couldn't afford to lose.
 

Nermal

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Apr 9, 2010
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Why not roll them into income tax also - why do they need to be kept separate?
 

hiker

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May 9, 2005
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1,961
It should also encompass Employer's PRSI... this is a "stealth tax", often forgotten about
Its more like an employment tax because its paid by the company out of current account wether profit is made or not.

Last time I checked it was 10.75%. Is this still the case?
Including Employee PRSI and Health Levy its close to about 17% of total salary.
 
B

boo-boo

So what exact social benefits and rights will accrue to those of us who will be paying this social levy? Does that mean that we can get our dental benefit's reinstated, does that mean we can access public health services if and when we need it, or does that mean we can get access to income support measures when we need it, or will the duration of benefits be further reduced?

Or will it as I suspect be the case were despite us having no choice but to pay this bloomin social charge, our social rights will be further de-limited by each and every successive Budget, to a point were we will all provide supplementary cover that are essentially double payments, where through necessity of ensuring full coverage we all are being forced into the private market for access to basic services that lets face it the public bodies are failing to deliver?
 

Baron von Biffo

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May 16, 2007
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11,456
A good point raised by Sean O'Rourke on News at One - If everyone is now paying will they become entitled to all the benefits? At present groups like the self employed and PS workers recruited before 1995 pay reduced PRSI for reduced benefits. If we now charge them the same as the rest of us will they be entitled to the OAP, dental and optical benefits, dole etc?
 

DCon

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May 5, 2009
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A good point raised by Sean O'Rourke on News at One - If everyone is now paying will they become entitled to all the benefits? At present groups like the self employed and PS workers recruited before 1995 pay reduced PRSI for reduced benefits. If we now charge them the same as the rest of us will they be entitled to the OAP, dental and optical benefits, dole etc?
Have no doubt that the benefits will be reduced.
 

Dreaded_Estate

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Sep 5, 2007
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3,718
I would benefit from this change but it would be a disgrace if I had to pay less rather than more tax after this budget
 

Cassandra Syndrome

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Aug 23, 2009
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126 report just published

http://www.esri.ie/UserFiles/publications/RS18/RS18.pdf

Its hard to get through Chapter 1 with its glorification of UK monetary policy without my lunch coming back up again. Especially with quotes like this

Soitistheleveltowhichinterestrateshavefallenthatisunprecedented.I
believeithasbeenrighttoloosenaggressivelythestanceofmonetarypolicy
becauseofthescaleofthedeflationaryandrecessionaryforcesunleashedby
theremarkablyrapiddownturnthatfollowedthecrisisinthebankingsector.
This crisis intensifieddramatically in theautumnof 2008whenthebanking
system came close to total collapse. That would have been an outcome
comparable in its impact to the failure of the system for electricity supply.
Manynowarguethatmonetarypolicyshouldbesetinadifferentwaysoasto
reduce the chances of this sort of banking crisis. That is one of the issues I
wanttodiscusstoday.Theargumentthattheaimsofmonetarypolicyneedto
be broadened beyond a focus on inflation is one that deserves to be taken
seriouslybecausethedamagedonebyextremefinancialinstabilityisgreat.
Yeah, perfectly simple solution. We just need to buy more money printing presses.
 
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