Low Tax Economy - spin BS

hammer

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Jul 6, 2009
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58,180
We are not a low tax economy.

Fianna FAIL in buying elections exempted 47% or so from income tax.

The rest of us pay

Income Tax 20% / 41%
Health Levies
Income Levies
PRSI
Employers - PRSI also 8.5% - 10.75%

Vat 13.5% / 21%

Excise duties
VRT
Carbon tax
Motor tax
Tolls
Driving licence

TV licence
Vat on gas / esb
Gun licence :)
Dog licence
DPS €120 per month
A&E charges
Bin charges - annual
Bin charges - tag

CGT
CAT
Stamp duty shares
Stamp duty property
Gift Tax
DIRT
Insurance Premium levy 3%
Health levy €185 for VHI :(

Pension levy for PS

And soon
Property tax
Water rates
 


Magror14

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Absolutely right. I got some money for doing some extra work and all the deductions came to 58%. I got 42 % into my hand. That is a lot of tax.
 

Watch The Break

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Perhaps, by way of offering a meaningful analysis, you could detail some comparisons with similar countries across the EU.

Instead of, you know, just listing words you've learned.
 

MuchToDo

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It's still silly to point out the 20% and even 41% tax rates as high tax when the various tax reliefs bring that down to anything between 0% (at the bottom) or <10% (median) or about 20% (well off) effective tax rate.

Agree there are a lot of other taxes, but that's due to not charging people sensible income tax like in other countries (incidentally far more efficient too than all kinds of complicated reliefs and direct charges). Also changing taxation to an income tax focus would be fairer.

People at the bottom could then pay 10% tax or so and that would help the exchequer a lot (there are a lot more low-income workers - median wage here is about 20K - i.e. 50% of workers get that or less), while taking direct taxation out of the economy would mean they could probably afford *more* despite less take-home pay.

But cutting the income tax wins elections.
 

thegreyfox

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FF never exempted anyone.When Mc Creevy introduced the tax credit system along with the euro even middle income earners were no better off for as 20% was extended out before paying tax at a higher rate it simply meant that middle income could only claim 20% on reliefs such as health,pensions etc.Those at the top claimed maximum relief with no level on contributions to their own future.Whatever about passing the budget we need others than FF to restructure it for everyones good.
 

thegreyfox

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When McCreevy introduced the ssia scheme it excluded the poorest from saving to get a bonus in the first place,then on qualifying for the bonus for those who were truly rich they could contribute 7.5k and receive a top up of 2.5k from the government if they put it in their pensions whereby claiming tax relief on the 7.5k contribution.So the poor cant save,middle cant avail and rich gain.FF.
 

Cassandra Syndrome

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Total Taxation for Ireland in terms of GNI was about 40%. This site as many combinations to use to express our taxes compared internationally. You will see our social insurance contributions are low in comparison in Europe, which speaks volumes.

The figures quoted are GDP, but we are the only country were GDP is 25% greater than GNP. So bear that in mind.

Total taxation as % of GDP (most recent) by country

So in reality we pay more tax than Germany, UK, Canada and Switzerland and about the same as Norway, Netherlands and Italy.

A lot European countries pay far more social insurance as tax than we do, which in my opinion is a much better model.
 

hammer

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Total Taxation for Ireland in terms of GNI was about 40%. This site as many combinations to use to express our taxes compared internationally. You will see our social insurance contributions are low in comparison in Europe, which speaks volumes.

The figures quoted are GDP, but we are the only country were GDP is 25% greater than GNP. So bear that in mind.

Total taxation as % of GDP (most recent) by country

So in reality we pay more tax than Germany, UK, Canada and Switzerland and about the same as Norway, Netherlands and Italy.

A lot European countries pay far more social insurance as tax than we do, which in my opinion is a much better model.
Good day :)

Irish taxpayers are being bullyed to pay more in tax because the multinationals put "false" profits through Ireland :) :)

The extra profits contribute nothing to the economy bar 12.5% tax in that the 87.5% is repatriated :(
 

Watch The Break

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The extra profits contribute nothing to the economy bar 12.5% tax in that the 87.5% is repatriated :(
It's a while since I finished my degree, but I think profits have something to do with motivating people to employ other people.
 

Cael

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Its only a low tax economy for the gombeen ruling class.
 

Pauli

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Right through the so-called Celtic Tiger years, Ireland was not a low tax economy. It was PD bullcrap and a surprising number of people fell for it.
 

Harmonica

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It's still silly to point out the 20% and even 41% tax rates as high tax when the various tax reliefs bring that down to anything between 0% (at the bottom) or <10% (median) or about 20% (well off) effective tax rate.
Fantasy, the median & well off are much higher. After the next budget my effective tax will be over 30. I am not super rich or well off. I have an average income.

Easy to calculate here

Median and high earners pay similar rates of income tax as the UK & Germany but low earners pay less. We are a high indirect tax country but have low local taxes. The level of public services provided is much lower than other countries.

Lots of people want higher taxes as long as they don't have to pay themselves. We have no future as a high taxed socialist country & even in these desparate times there isn't exactly a flow of people to the left wing.
 

hammer

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The super wealthty don`t need to pay themselves during depressions. In fact their income & tax levels could be ZERO.

Extra taxes will not result in higher tax takings.

BLACK economy may double in size though.
 

dotski_w_

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It's a while since I finished my degree, but I think profits have something to do with motivating people to employ other people.
A degree in fairy tales at Clown College, was it?! :D

When I studied economics, profits were described as motivating people to act in their own self interest (the theory being that this results in more efficient use of input resources). In some cases you may end up employing more people, but in others you may employ less (e.g. by investing in labour saving technology and letting redundant staff go).

There will therefore be occasions that higher profits in one company will co-incide with higher levels of employment in that company (although not necessarily in that industry, if they outcompete another company who then lets staff go), but anyone who thinks that profits are "to do with motivating people to employ other people" is, quite simply, mad.

What was your degree exactly, and where was it? (Just so we can all give your fellow 'graduates' a wide steer?)
 

Binnman

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A degree in fairy tales at Clown College, was it?! :D

When I studied economics, profits were described as motivating people to act in their own self interest (the theory being that this results in more efficient use of input resources). In some cases you may end up employing more people, but in others you may employ less (e.g. by investing in labour saving technology and letting redundant staff go).

There will therefore be occasions that higher profits in one company will co-incide with higher levels of employment in that company (although not necessarily in that industry, if they outcompete another company who then lets staff go), but anyone who thinks that profits are "to do with motivating people to employ other people" is, quite simply, mad.

What was your degree exactly, and where was it? (Just so we can all give your fellow 'graduates' a wide steer?)

Very nasty, short-tempered reply. Shame on you.
 


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