Labour policy on taxation.

Hussler

I heard a rumour that Labour will be targetting individuals earning over €50k pa as the new rich. Anyone else heard this?

Dermo

no extra taxes on anyone earning less than 100k a year

http://www.breakingnews.ie/election/news/osullivan-accuses-fg-of-lying-about-labour-policies-492568.html

MaceFace

Dermo wrote: »

no extra taxes on anyone earning less than 100k a year

http://www.breakingnews.ie/election/news/osullivan-accuses-fg-of-lying-about-labour-policies-492568.html

Did you not know - this was their policy yesterday when they were speaking to those earning less than 100k. Today they are speaking to those on under 50k.

Tomorrow, when they address those earning more than 100k, their policy will be to only tax those under 100k.

Killer Pigeon

What I think will happen is the following;

If someone earns €150,000 a year then they'll tax the amount greater than €100,000 by 46% (in this case they'll probably tax the €50,000 @ 46%) while the amount less than €100,000 will be taxed at regular rates.

Eliot Rosewater

If you think someone's made a mistake it's possible to inform them of that in a civil and respectful manner. Please do it that way, rather than resorting to aggression and personal abuse.

Troublesome posts deleted.

/mod.

Ghost Estate

They support property tax. they won't be getting my vote

http://www.labour.ie/download/pdf/laboursplanforstabilityandgrowth.pdf page 17

[Jackass]

Yeah but FG don't, and Labour would only get in on a coalition, and FG have ruled this out, so it's a non-runner. I do like the new tax brackets though.

I think under 25k should be tax free and over 100k should make up the difference.

Killer Pigeon

Ghost Estate wrote: »

They support property tax. they won't be getting my vote

http://www.labour.ie/download/pdf/laboursplanforstabilityandgrowth.pdf page 17

[Jackass] wrote: »

Yeah but FG don't, and Labour would only get in on a coalition, and FG have ruled this out, so it's a non-runner. I do like the new tax brackets though.

I think under 25k should be tax free and over 100k should make up the difference.

Ugh!!

Fine Gael and Labour aren't going to form a proper stable government, their ideas contrast too much. Just vote for Fianna Fáil again for the love of God. At least they're populist centrists who do what people want them to do most of the time.

/:eek:

Pete_Cavan

[Jackass] wrote: »

I think under 25k should be tax free and over 100k should make up the difference.

We had a system like that and it didnt work.

meditraitor

Hussler wrote: »

I heard a rumour that Labour will be targetting individuals earning over €50k pa as the new rich. Anyone else heard this?

Were did you here this rumour from?

analucija

Smaller the income tax, higher will be other taxes (property, water rates...). And those won't exclude people earning less than 100k.

Kasabian

Stealth tax is still tax. Paying a property tax on a house that is half the value you paid for it is still tax.

Not changing the tax bands on incomes less than 100K is just a ploy to deflect attention to the fact tax will have to be raised in other ways.

geeky

Hussler wrote: »

I heard a rumour that Labour will be targetting individuals earning over €50k pa as the new rich. Anyone else heard this?

Who said this?

Dermo

geeky wrote: »

Who said this?

The always reliable Mr. A Rumour, friend of Some Guy and brother to No Facts.

thebman

Labour wish to introduce a max wage for private sector workers according to a news article the other day (thread on here with link posted in last week or two).

Labour also wish to tax everyone earning over 100,000 Euro so they don't have to "tax the poor".

Labour's policies seem to conflict IMO and are also unworkable IMO.

meditraitor

Its a rumour about a non existant labour policy, it seems the Politics forum is the place for unfounded labour bashing .........

now if I posted the rumour I heard about FG letting the bankers off with all previous sins and even allowing them to start receiving their big bonuses again(right wing policy), would I be asked to provide more concrete proof or would the thread be left for unfounded FG bashing?

Lockstep

thebman wrote: »

Labour wish to introduce a max wage for private sector workers according to a news article the other day (thread on here with link posted in last week or two).

You seem to be confusing this with their plans for pay freezes.
Labour suggests negotiating with private sector unions for pay freezes.

Massive difference with introducing a maximum private sector wage.

thebman

Lockstep wrote: »

You seem to be confusing this with their plans for pay freezes.
Labour suggests negotiating with private sector unions for pay freezes.

Massive difference with introducing a maximum private sector wage.

Same difference though, why should their be a maximum private sector wage dictated by government in any section of the private sector? Government simply should not be getting involved in this area.

If anything we need government to pull out of half the areas they are interfering with.

Its a massively stupid idea IMO. If I make my company a billion euro in one year, I expect to be rewarded for that not told, sorry there is an upper limit.

Its not a real policy, its a joke one IMO be it for private sector unions or the whole private sector, I don't care. I could not give a preference to such a party.

MaceFace

Lockstep wrote: »

You seem to be confusing this with their plans for pay freezes.
Labour suggests negotiating with private sector unions for pay freezes.

Massive difference with introducing a maximum private sector wage.

Surely it would be in the best interests of all in Ireland if the private sector increased the wages of all - it would also increase the tax take.

Many in the private sector get paid by foreign money so increases the wealth in the country.

I honestly don't know if this is just Labour trying to help out their public sector supporters or if it further demonstrates how unfit they are to run the country.

Skrynesaver

meditraitor wrote: »

Its a rumour about a non existent labour policy, it seems the Politics forum is the place for unfounded labour bashing .........

now if I posted the rumour I heard about FG letting the bankers off with all previous sins and even allowing them to start receiving their big bonuses again(right wing policy), would I be asked to provide more concrete proof or would the thread be left for unfounded FG bashing?

I heard that FG are going to fire the entire public sector and get the unemployed to fill all state roles in return for the dole.

I also heard that Leo Varadker wants so impose a curfew banning those who earn less than €100K from certain areas of central Dublin.

Unfortunately I have no links demonstrating any of the above but while we're making stuff up let's go wild

Lockstep

thebman wrote: »

Same difference though, why should their be a maximum private sector wage dictated by government in any section of the private sector? Government simply should not be getting involved in this area.

If anything we need government to pull out of half the areas they are interfering with.

Its a massively stupid idea IMO. If I make my company a billion euro in one year, I expect to be rewarded for that not told, sorry there is an upper limit.

Its not a real policy, its a joke one IMO be it for private sector unions or the whole private sector, I don't care. I could not give a preference to such a party.

No, they're not the same difference at all. I'm fairly baffled at to how you could conflate the two, the fact you didn't link to the post in question (merely vaguely referencing/utterly misquoting it) is fairly dubious.

The government isn't mandating wage caps, the government would enter into negotiations with unions to ensure wage freezes to prevent them overinflating in certain areas. This isn't a unilateral mandate by the government. However, they will impose caps on ministerial/public sector pay.

You seem to think that this involves the government telling companies "you can only pay your workers this much and no more". This isn't the case. They would enter into negotiations with the workers' representatives (unions) and come to an agreement to not let wages artificially rise above a certain level to ensure competitiveness.

What's the issue here?

MaceFace wrote: »

Surely it would be in the best interests of all in Ireland if the private sector increased the wages of all - it would also increase the tax take.

Many in the private sector get paid by foreign money so increases the wealth in the country.

I honestly don't know if this is just Labour trying to help out their public sector supporters or if it further demonstrates how unfit they are to run the country.

Not if the wages rise faster than production. Otherwise, the government could increase the minimum wage to €100 an hour and take in excellent tax revenues. But this isn't the case. Having too much money in the economy when production remains the same would just lead to inflation.

anon12345

sure eamonn gilmore is populus he has no convinction and will probably in government tax everyone

MaceFace

Lockstep wrote: »

Not if the wages rise faster than production. Otherwise, the government could increase the minimum wage to €100 an hour and take in excellent tax revenues. But this isn't the case. Having too much money in the economy when production remains the same would just lead to inflation.

Surely inflation is a preferred solution here (assuming its not hyper) as it stimulates the economy as well as lessening the debt burden.

Either way, putting a pay freeze on the private sector makes absolutely no sense - what possible benefit would it have?
The only reason I think they suggested this is either

1. They are so aligned to the public sector that even though they know their pay rates will have to come down, as long as they do not decrease as much as the private sector, there won't be a problem, or
2. They have some unbelieveably stupid belief that everyone in the private sectore is paid too much and it all needs to come down. While industries such as manufacturing may be very expensive here, successful industries such as pharmaceuticals and IT pay international norms. Freezing these wages will make it more difficult to attract the international talent here to make up for the lack of experienced candidates

If anything, the minimum wage should be kept at the lower rate, or even lessened. Its not so much to lower the wages of the people who are on minimum wages, but this base rate puts pressure right the way up through the chain on all levels.
I heard a restuarant owner previously say that because they have to pay their dish washer €8.65(?) an hour, they had to pay their waitresses €x more, and their cooks €y more and the chefs €z euro more and so on and on.
So, the entire cost structure within a single business is affected by a high base rate.

Lockstep

MaceFace wrote: »

Surely inflation is a preferred solution here (assuming its not hyper) as it stimulates the economy as well as lessening the debt burden.

Either way, putting a pay freeze on the private sector makes absolutely no sense - what possible benefit would it have?
The only reason I think they suggested this is either

1. They are so aligned to the public sector that even though they know their pay rates will have to come down, as long as they do not decrease as much as the private sector, there won't be a problem, or
2. They have some unbelieveably stupid belief that everyone in the private sectore is paid too much and it all needs to come down. While industries such as manufacturing may be very expensive here, successful industries such as pharmaceuticals and IT pay international norms. Freezing these wages will make it more difficult to attract the international talent here to make up for the lack of experienced candidates

Inflation at a low level is fine (indeed, healthy for an economy, especially when compared to deflation)
However, raising wages artificially just causes wage spirals which completely outstrip the production rate, leading to hyperinflation.
Labour are not calling for a blanket wage freeze in the private sector. It's suggesting making agreements for pay freezes in certain areas, done through private sector unions to ensure competitiveness. If the wages increase too much, the sector becomes uncompetitive, which is where Labour suggests making agreements.

If anything, the minimum wage should be kept at the lower rate, or even lessened. Its not so much to lower the wages of the people who are on minimum wages, but this base rate puts pressure right the way up through the chain on all levels.
I heard a restuarant owner previously say that because they have to pay their dish washer €8.65(?) an hour, they had to pay their waitresses €x more, and their cooks €y more and the chefs €z euro more and so on and on.
So, the entire cost structure within a single business is affected by a high base rate.

First of all, the full minimum wage has already been cut to €7.65. Only 3% of workers are on the minimum wage so cutting it doesn't help much.
Secondly, the base rate idea is an utter fallacy. Why does he feel the need to pay the waitresses more than the minimum wage? I've worked as both a waiter and a dish washer, both for the exact same minimum wage. Chefs are a skilled job so their wages would be a separate issue.
Thirdly, the minimum wage operates in scales. He's perfectly able to employ younger and/or lesser experienced dish washers for less than €8.65. His call.
Fourthly. forgive me if I take your 'some guy told me' claim with a pinch of salt.

KELTICKNIGHTT

looks like it doesn't matter who gets into government, all people will be hit for in there pockets, Canada looks good every day if i didnt have comment's every day:eek: