Paying your share of the burden up front?

drunkmonkey

With all these levies, extra taxes and cuts coming in would it make any sense for the Government to ask for some money up front from people who can afford it in return for concessions.
Let's say the government want' to squeeze and extra 20,000 out of me over the next 10 years, instead of squeezing it out bit by bit I offer to pay up my part of the burden sharing now saving the government interest charges and give them a bit of a cash flow boost. In return I get tax & charges concession until we muddle out of the mess.
Not sure if many people would go for it, but if the terms were good enough i'd be prepared to pay up front.

Crazy idea or is there a bit if logic to it?

Permabear

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Liam Byrne

Permabear wrote: »

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No mention of the stuff they blew on private banking institutions ?

I agree to an extent, though; if we gave them money upfront they'd probably use it to let bankrupt banks hire greedy feckers who view €10,000 a week as "not enough".

ei.sdraob

Liam Byrne wrote: »

No mention of the stuff they blew on private banking institutions ?
.

The bank employees are public servants now , see :pac:

@OP its 33K extra per each man, woman and child that was added/committed to add in the 2008-2013 period
if you don't want to pay it, leave the country or opt out in other manners as much as you can

Scofflaw

drunkmonkey wrote: »

With all these levies, extra taxes and cuts coming in would it make any sense for the Government to ask for some money up front from people who can afford it in return for concessions.
Let's say the government want' to squeeze and extra 20,000 out of me over the next 10 years, instead of squeezing it out bit by bit I offer to pay up my part of the burden sharing now saving the government interest charges and give them a bit of a cash flow boost. In return I get tax & charges concession until we muddle out of the mess.
Not sure if many people would go for it, but if the terms were good enough i'd be prepared to pay up front.

Crazy idea or is there a bit if logic to it?

There's a lot of imponderable variables in there - your current tax position, your future tax position, because the amount of the extra taxes you would be liable for depends very heavily on those, plus the expected future additional taxes in terms of both size and application, the amount the government actually needs...

Still, I suppose you could simply say to the Revenue "I'd like to build up a credit balance with the Revenue, and I am patriotically willing to take no interest". The Revenue simply sets future taxes off against that credit balance - the government blows the financial boost on not implementing austerity, and then reneges on the deal at some future point when another crop of chickens are landing.

cordially,
Scofflaw

mvt

What happens if you die after paying out all this money upfront?

Icepick

You cannot trust the government, especially because it can change every 5 years.

Poly

Scofflaw wrote: »

Still, I suppose you could simply say to the Revenue "I'd like to build up a credit balance with the Revenue, and I am patriotically willing to take no interest".

What about if they built it into another tax amnesty like they had back in '90s?
Could bring in a few hundred mil and close off some of the black economy, kill 2 birds with 1 stone

Sticky_Fingers

Nice idea OP but the government would only end up spending it on the economic equivalent of beer and hookers like they did with the house stamp duty.

No doubt they'd be back to you in a few years with their hands out like a deadbeat relative begging for a digout promising that this time will be different and that they'll get their act together. It's a far worst with the government since they can force you to hand over the cash so they can keep the party going.

ardmacha

Nice idea OP but the government would only end up spending it on the economic equivalent of beer and hookers like they did with the house stamp duty.

It doesn't really matter if they spend it on beer and hookers, if it stops them borrowing money to pay for beer and hookers.

But as was pointed out you cannot trust the government as you cannot trust the public who will inevitably seek out anyone "who can afford it" to bail out "those with big mortgages".

Permabear

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Bandana boy

If you have the cash to spare invest it wisely ,grow it pay tax on the profit you earn from it.Even better invest it in a bussiness grow that bussiness create jobs and expontially increase the taxs you will pay.
This is better for the Goverment than a cash advance