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Our Top 300 is worth more than Ecuador!


Shqiptar

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Joined
Mar 18, 2012
Messages
6,309
Fellow P.iers, ye won't need to check out the link below to know from which national Sunday broadsheet the above Fascinating Factoid has oozed, sorry, originated.

Now, don't get me wrong. I'm not anti-wealth. But this extolling of its supposed virtues, as if the related benefits weren't enough (not to mention the implied insult to 15 million Ecuadoreans) is not something that I can identify with and I doubt I'll ever feel the need to.

Apart from the Collison brothers, much of this Top 300 looks like old, inherited or speculative wealth. I think I'll find the Ecuadoreans somewhat more interesting, gracias.

Ireland's top 300 richer than Ecuador - Independent.ie

Mods, I've put this in Media since, for me, the issue for discussion is the Sindo's treatment of the story. Disagree and move if required.
 
R

Ramps

Fellow P.iers, ye won't need to check out the link below to know from which national Sunday broadsheet the above Fascinating Factoid has oozed, sorry, originated.

Now, don't get me wrong. I'm not anti-wealth. But this extolling of its supposed virtues, as if the related benefits weren't enough (not to mention the implied insult to 15 million Ecuadoreans) is not something that I can identify with and I doubt I'll ever feel the need to.

Apart from the Collison brothers, much of this Top 300 looks like old, inherited or speculative wealth. I think I'll find the Ecuadoreans somewhat more interesting, gracias.

Ireland's top 300 richer than Ecuador - Independent.ie

Mods, I've put this in Media since, for me, the issue for discussion is the Sindo's treatment of the story. Disagree and move if required.
Sorry, but what's the problem? Very straight forward article, it seems to me... :confused:
 

Shqiptar

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Joined
Mar 18, 2012
Messages
6,309
Sorry, but what's the problem? Very straight forward article, it seems to me... :confused:
It's the gross over-simplification. The 66bn they refer to isn't real, tangible wealth. Much of it is based on share prices which can soar or plummet depending on the vagaries of the market. Come back in a year's time and that 66bn could be 40 bn or 110bn without any one of Our Top 300 having lifted so much as a finger.

Compare this with the Ecuadorean economy which will probably be worth slightly more than 66bn euros. It's the sort of self-inflated mindset that got us into our current difficulties.
 

Hitch 22

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Joined
Dec 26, 2011
Messages
5,220
I was flicking through the supplement making notes and I am already putting the death squads together.
 
R

Ramps

The 66bn they refer to isn't real, tangible wealth. Much of it is based on share prices which can soar or plummet depending on the vagaries of the market.
Not strictly true, but anyway...

Come back in a year's time and that 66bn could be 40 bn or 110bn without any one of Our Top 300 having lifted so much as a finger.
Depends what you mean by lifting a finger...but anyway.

Compare this with the Ecuadorean economy which will probably be worth slightly more than 66bn euros.
It could, but the article is about the situation today!

It's the sort of self-inflated mindset that got us into our current difficulties.
That's the part I don't get. How would publishing the wealth of private individuals get us 'into' anything?
 

NYCKY

Moderator
Joined
Apr 17, 2010
Messages
13,101
While the article has a breathy somewhat Celtic Tigerish tone to it, it's just a statement of fact. The wealth of three hundred wealthy people from any country is always going to total to some serious wonga.

If you look at the Forbes list of the richest people in the World, you only need to total the top five to have more than the Irish GDP.

The Richest People in America List- Forbes
 

CarnivalOfAction

Well-known member
Joined
Jun 15, 2010
Messages
16,545
Fellow P.iers, ye won't need to check out the link below to know from which national Sunday broadsheet the above Fascinating Factoid has oozed, sorry, originated.

Now, don't get me wrong. I'm not anti-wealth. But this extolling of its supposed virtues, as if the related benefits weren't enough (not to mention the implied insult to 15 million Ecuadoreans) is not something that I can identify with and I doubt I'll ever feel the need to.

Apart from the Collison brothers, much of this Top 300 looks like old, inherited or speculative wealth. I think I'll find the Ecuadoreans somewhat more interesting, gracias.

Ireland's top 300 richer than Ecuador - Independent.ie

Mods, I've put this in Media since, for me, the issue for discussion is the Sindo's treatment of the story. Disagree and move if required.
And FF/FG/LP try to tell us that there is no wealth to tax! A 1% tax on these 300 alone would raise €660 million, much more than the FFamily home tax.
 

Iphonista

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Joined
Jun 6, 2012
Messages
4,200
And FF/FG/LP try to tell us that there is no wealth to tax! A 1% tax on these 300 alone would raise €660 million, much more than the FFamily home tax.
Why not make it 20% when you're at it? Might as well make the most of a one-off grab? By next year, they'll be gone due to your policies and no other high net worth individuals would even think twice about this country. :roll:
 

Trainwreck

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Joined
Sep 6, 2012
Messages
26,809
A common misconception.

They have compare wealth with income which doesn't make a lot of sense.
 

ger12

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Joined
Feb 25, 2011
Messages
48,255
And FF/FG/LP try to tell us that there is no wealth to tax! A 1% tax on these 300 alone would raise €660 million, much more than the FFamily home tax.
How many are resident in Ireland . . . .
 

Analyzer

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Joined
Feb 14, 2011
Messages
46,201
Another Green jersey moment.

The fact that many of "our" top 300, have made that money ripping the rest of us off, and the fact that many of them are not tax resident in this country, is merely a minor hiccup.

Not worth worrying about.

Let's all go to a party to celebrate somebody's nag winning a race, and lets see how many brown noser politicians the event will attract.
 

Politics matters

Well-known member
Joined
Sep 16, 2012
Messages
6,017
Fellow P.iers, ye won't need to check out the link below to know from which national Sunday broadsheet the above Fascinating Factoid has oozed, sorry, originated.

Now, don't get me wrong. I'm not anti-wealth. But this extolling of its supposed virtues, as if the related benefits weren't enough (not to mention the implied insult to 15 million Ecuadoreans) is not something that I can identify with and I doubt I'll ever feel the need to.

Apart from the Collison brothers, much of this Top 300 looks like old, inherited or speculative wealth. I think I'll find the Ecuadoreans somewhat more interesting, gracias.

Ireland's top 300 richer than Ecuador - Independent.ie

Mods, I've put this in Media since, for me, the issue for discussion is the Sindo's treatment of the story. Disagree and move if required.
I don't have a problem with people being extremely wealthy. What I do have problem with is that some of the richest people in our society believe they have a right to distort our democracy. By either attempting to monopolise our media or bribing our politicians.
 
Last edited:

Windowshopper

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Oct 14, 2011
Messages
9,011
I don't have a problem with people being extremely wealthy. What I do have problem with is that some of the richest people in our society believe they have a right to distort our democracy. By either attempting to monopolise our media or bribing our politicians.
It might be better to not use actual names.
 

Windowshopper

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Joined
Oct 14, 2011
Messages
9,011
Why is that? By your logic the entire Moriarty Tribunal was a waste of time and money was it?
Jesus Christ everyone knows who you were talking about without using his name. I just thought mentioning someone who has a tendency to sue for libel might not be the best idea. Your welcome.

And yes it was a colossal waste of money. Who's in jail?
 

Analyzer

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Joined
Feb 14, 2011
Messages
46,201
I don't have a problem with people being extremely wealthy. What I do have problem with is that some of the richest people in our society believe they have a right to distort our democracy.
Interesting commentary in the current edition of Phoenix in respect to efforts to turn a factory which produced comics.

And there is a thread about the possibility that the PAYE taxpayer will give a bailout to the said business, via the PAYE taxpayer owned banks.


With respect to Ecuador, the carry on with the Irish media.....is more befitting of......

a BANANA Republic !!!!!
 

Politics matters

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Jesus Christ everyone knows who you were talking about without using his name. I just thought mentioning someone who has a tendency to sue for libel might not be the best idea. Your welcome.

And yes it was a colossal waste of money. Who's in jail?
Good point.
 

seabhcan

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Sep 3, 2007
Messages
14,327
IRELAND'S 300 wealthiest people now have a combined fortune valued at more than the entire state of Ecuador.
The paper is confusing 'wealth' with income. GDP is not a measure of wealth, its a measure of economic activity. Its like confusing share valuation with turnover.

But then economics, or basic maths, were never the indo's strong point.
 

CarnivalOfAction

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Joined
Jun 15, 2010
Messages
16,545
Why not make it 20% when you're at it? Might as well make the most of a one-off grab? By next year, they'll be gone due to your policies and no other high net worth individuals would even think twice about this country. :roll:
Strange that doesn't happen in Norway, which has a wealth tax. And a much more successful [& fair] economy than ours.
 
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