The millionaires who want to pay more tax

Thucydides

Given today's events of tax hikes and budget cuts, I thought this

enjoyable article from today's Times might provide good food for thought.

http://www.timesonline.co.uk/tol/money/tax/article6949251.ece

To sum up, certain good-hearted millionaires in Germany have come

together to form a lobby group which is advocating that the Government there increase the top rate of

tax on the rich! So, could a similar group prove popular in

Ireland?


Would the millionaires on boards like to give an opinion?

Morlar

Thucydides wrote: »

Given today's events of tax hikes and budget cuts, I thought this

enjoyable article from today's Times might provide good food for thought.

http://www.timesonline.co.uk/tol/money/tax/article6949251.ece

To sum up, certain good-hearted millionaires in Germany have come

together to form a lobby group which is advocating that the top rate of

tax on the rich be increased! So, could a similar group prove popular in

Ireland?


Would the millionaires on boards like to give an opinion?

Speaking as a non millionaire - I am going to say no.

I think for that to be the case there would have the be a level of faith that their voluntary contributions would be well spent and not utterly squandered.

tba

I'd prefer if they acted as investors/philanthropists to business/education.

Morlar

If you think about it though - if the govt setup a website where ALL Irish citizens could make paypal donations of additional voluntary tax would you ?

I probably would so long as my voluntary additional money were not heading to some public sector workers pension heap or to people on benefits, or to some harebrained green party unsustainable 'subsidised jobs' scheme.

If it were say - a structural fund for public works projects then I probably would.

Mike 1972

But would you trust the government not to respond to your genorosity by reducing the amount they spend on public works projects and divert it into public sector workers pension heap ?

I think for that to be the case there would have the be a level of faith that their voluntary contributions would be well spent and not utterly squandered.

Perhaps the German government have a better record in this regard ???

Mad_Max

It’s a complete joke that the Government is now moralising about the banking crisis

Are you listening Kenny? This includes you too :D

VinnyTGM

If my money went straight to buy more hospital bed's then yes, but to the government, well no.

bleg

What's stopping them donating to charity

Melange

Thucydides wrote: »

To sum up, certain good-hearted millionaires in Germany have come together to form a lobby group which is advocating that the Government there increase the top rate of tax on the rich! So, could a similar group prove popular in Ireland?

Would the millionaires on boards like to give an opinion?

Irish millionaires volunteer to pay more tax? Millionaires on boards?

Midnight_EG

Morlar wrote: »

If you think about it though - if the govt setup a website where ALL Irish citizens could make paypal donations of additional voluntary tax would you ?

No, because I don't have internet.

mikemac

If a millionaire wants to do something extra then giving it in tax money where a fair amount will be lost on administration isn't the answer.

They could maybe fund an extension to their college and if they want get it named after them.
Or at least give scholarships for their old secondary school. Something good like that instead of seeing their extra taxes swallowed up into the Dept of Finance and not a clue where it is going

ScumLord

No it's mine, it's all mine and none of ye ****ers can have any of it!

Morlar wrote: »

I probably would so long as my voluntary additional money were not heading to some public sector workers pension heap or to people on benefits, or to some harebrained green party unsustainable 'subsidised jobs' scheme.

That's the problem, even with the best of intentions I expect the government to **** it all up, that's why I'd offer them nothing.

leincar

While I'm not a millionaire I do earn a great salary. I'm into six figures net after all deductions. Up to today I would have been willing to pay more tax to this government, however today the government in my opinion have proved themselves incompetent in how they treat the nations finances(not for the first time) and more importantly the people of this country.

The most vulnerable in our society have taken a hit, the public sector have taken a hit, disposable income will shrink further with the result that the Private sector will suffer more job losses and wage cuts.

The only cut I received was a reduction in child benefit. I have five kids so I am down €80 per month.

So no I don't think I would give extra to our present government but I would give extra to charity.

tolosenc

In a country of 80 million, there are bound to be 40 idiots with more money then sense.

AFC_1903

Morlar wrote: »

I probably would so long as my voluntary additional money were not heading to some public sector workers pension heap or to people on benefits, or to some harebrained green party unsustainable 'subsidised jobs' scheme.

Therein lies the problem...

starbelgrade

Melange wrote: »

Irish millionaires volunteer to pay more tax? Millionaires on boards?

Millionaires are the plebs who have to get up early & do a day's work tomorrow morning. It's only us billionaires that get to hang around boards of week night, scoffing champagne & chewing the proverbial cud, daaahling.

Pass me the caviar.

hussey

if you tax the rich too much, they might just leave and get taxed in another country, which would leave a massive gap in economy.

Taxing won't get you out of a recession.
if someone was earning 1million a year they will be paying the same tax as about 70people+ on 40k per year.
The figure above is based on http://taxcalc.eu/
(I didn't take into acocunt other factors like pension etc)
so if 10 millionares moved somewhere else it would be like 700+people not paying tax

SV

Melange wrote: »

Irish millionaires volunteer to pay more tax? Millionaires on boards?

Why do you think there isn't millionares on boards?

InReality

hussey wrote: »

if you tax the rich too much, they might just leave and get taxed in another country, which would leave a massive gap in economy.

Taxing won't get you out of a recession.
if someone was earning 1million a year they will be paying the same tax as about 70people+ on 40k per year.
The figure above is based on http://taxcalc.eu/
(I didn't take into acocunt other factors like pension etc)
so if 10 millionares moved somewhere else it would be like 700+people not paying tax

They might stay too.
We're basing our whole tax policy on something
that has no little to no evidence behind it.

Black Swan

hussey wrote: »

if you tax the rich too much, they might just leave and get taxed in another country, which would leave a massive gap in economy.

Trickle down economics only works in a closed system, not in an international marketplace. But the rich often voice this argument, claiming that if you tax them less, their money will trickle down to the workers in terms of more jobs, pay, and benefits. But western economies are not closed systems, and that money is now trickling down not in Ireland, but in China where labour is cheap.