Sinn Féin's proposal to abolish property tax

Windowshopper

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I came across this article from the Journal about SF's alternative budget in which they recommend the abolition of property taxes for first homes. The cost to the Excheqeur is estimated to be 440 million.

Sinn Féin wants to abolish the property tax at a cost of

However I think the cost of this initiative in terms of money lost is secondary to the principle at stake in that should a party which describes itself as socialist not be in favour of moving the balance in taxation towards capital rather than labour?

David McWilliams makes a good argument here why a tax on capital and assets is progressive A real Republic of Opportunity? We’d have to tax land to the hilt | David McWilliams .

However such a tax in my view should not just be a soak the rich exercise (though that is entirely legitimate IMO) but should be about providing income for the expansion of services which means that such a tax needs a wide base, and not just the super rich.

Another reason why this initiative is bad IMO is that the property tax should have been a correction of the disastrous Lynch election where the abolition of rates castrated local government. Property taxes could form a basis for local government autonomy and (in the future) devolutionary autonomy.

There seems to be an unconscious slide towards a taxation system not that different from 2007, which of course left a lot to be desired when the crash occurred.

In conclusion I think I wrote this thread to criticise SF but I hope it can also be used as a platform to discuss whether McWilliams argument in favour of greater property taxes is a good idea.
 
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PO'Neill

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Property tax was already been paid up front as Housing Stamp Duty before FG/LP introduced the second propoerty tax. A person's house is a home, not an asset.

 

Windowshopper

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Property tax was already been paid up front as Housing Stamp Duty before FG/LP introduced the second propoerty tax. A person's house is a home, not an asset.

Property is one of the primary means in which wealth is passed from one generation to another.
 

GDPR

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I would favour a substantial reduction in planning levies, a one off tax, rather than exempting one sector from this annual tax.

Sent from my SM-A320FL using Tapatalk
 

the secretary

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Did they mention that they wanted to tax the rich more?
 

Fritzbox

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All socialistic and progressively taxed countries with successful economies and high standards of living pay property tax. I'd say most EU countries pay property tax. In England they pay the council tax.
 

cricket

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All socialistic and progressively taxed countries with successful economies and high standards of living pay property tax. I'd say most EU countries pay property tax. In England they pay the council tax.
I've posted many times here that we're the only country in Europe where "socialists" oppose property tax.
 

wombat

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In a week or two, they will be jumping up and down that we need more doctors to work for €90k:lol:
 

Round tower

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In a week or two, they will be jumping up and down that we need more doctors to work for €90k:lol:
Agree and they wonder then why is there HSE posts around the country with no applications, so they want too send more doctors and consultants away
 

JimmyFoley

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This is the kind of siliness SF will have to make its mind up about if it's serious about serving in govt here.

The PT isn't going anywhere; SF knows this. So it can either just accept reality and come up with an alternative source of funding, or it can do what it did with the EU for 20 years, i.e. talk a load of bollix and waste lots of time, before accepting it like everyone else does.
 

RasherHash

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This is the kind of siliness SF will have to make its mind up about if it's serious about serving in govt here.

The PT isn't going anywhere; SF knows this. So it can either just accept reality and come up with an alternative source of funding, or it can do what it did with the EU for 20 years, i.e. talk a load of bollix and waste lots of time, before accepting it like everyone else does.
You think getting rid of the PT isn't going to be popular?
 

Marcos the black

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Only in Ireland could the "left" oppose a wealth tax.
 

JimmyFoley

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You think getting rid of the PT isn't going to be popular?
Of course getting rid of it would be popular...until they suggest some other way to come up with the dosh.

Of all the things SF could have suggested in its submission, this is the one that has absolutely no chance of being implemented. And they know this.

Time for them to get real.
 

Henry94.

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What all the pre-budget posturing is making clear is that the best strategic and political minds from all parties having studied the situation carefully have concluded that the Irish people are as base and stupid as they ever were. Will we prove them wrong? I doubt it.
 

edwin

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This is still a party that can't be taken seriously. It's a large element of the tax base and in most countries is considered a very progressive form of taxation.
 

carlovian

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Crazy position from sf. A property tax is as near in Ireland as we will get to a wealth tax.

And the left oppose it.

It's mad ted.
 


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