Super Wealth Tax

fiannafailscum

With the budget coming out I think it's time we discuss the critical issues that will effect us for the next year. We hear about cut backs and lay offs. Well I propose a new wealth tax of 90% over income of 100,000 euro to ort the country out. This will balance the budget and pay for economic stimulus to get people back to work. Once you have 100,000 euro, how much more can you need?

The people who have the most should pay the most because they can afford. Sure half these people probably worked in the banks and ruined the country.

These people don't understand what it's like to have 5 children you need to feed. Want top hear your views on this

RichardAnd

This won't go down well . . .

ted1

why would people strive to earn more than 100K if they are gettign taxed at 90%?

these people who get paid over 100k tend to create jobs, 100k isn't really that high of a salary.

lets stop the begrudgary and encourage people to work hard and creat jobs. if a high salary is the incentive that so be it.

we need to cut the minimum wage and welfare.

fliball123

ted1 wrote: »

why would people strive to earn more than 100K if they are gettign taxed at 90%?

these people who get paid over 100k tend to create jobs, 100k isn't really that high of a salary.

lets stop the begrudgary and encourage people to work hard and creat jobs. if a high salary is the incentive that so be it.

we need to cut the minimum wage and welfare.

While 90% is a bit mad..maybe an increase tax bank on over 100k say 60% may be more appropriate along with cuts to welfare and a hell of a cut to PS pay/pensions and perks

kildare.17hmr

agree 100% but it will never happen, unfortunately. These people will claim they have huge debts to go along with their huge wage which im sure is true but i dont care! Sell the 2nd and third house, at a loss if you have to. Trade down the brand new 3liter merc and get an older one. Put the kids into public schools sure Thats prob a saving per child of near enough the average wage in this country!

ianuss

It's too high a tax on too low a salary.......60% on anything over 200k maybe?

fiannafailscum

ted1 wrote: »

why would people strive to earn more than 100K if they are gettign taxed at 90%?

these people who get paid over 100k tend to create jobs, 100k isn't really that high of a salary.

lets stop the begrudgary and encourage people to work hard and creat jobs. if a high salary is the incentive that so be it.

we need to cut the minimum wage and welfare.

Have you no heart. 100k is a lot of money and is an incentive. All I'm saying is that they don't need it as much as us. They live in their own world of yachts and caviar. While we struggle to put food on the table.

As far as cutting the minimum wage, children will go hungry and have bad Christmas. We don't have much left if we can't just celebrate to gether and now the Government want to take that away too.

hardCopy

fiannafailscum wrote: »

Have you no heart. 100k is a lot of money and is an incentive. All I'm saying is that they don't need it as much as us. They live in their own world of yachts and caviar. While we struggle to put food on the table.

As far as cutting the minimum wage, children will go hungry and have bad Christmas. We don't have much left if we can't just celebrate to gether and now the Government want to take that away too.

Why would anyone who currently earns 300K bother getting up in the morning once they've hit the 100K threshold?

fliball123

ianuss wrote: »

It's too high a tax on too low a salary.......60% on anything over 200k maybe?

In fairness anyone earning over 200k that should be hit with 75%...We do need a system of those who can pay more ...pay more...For the time being anyway and when we are back on the road we can start to bring these back down

air

A salary of 100k will given an employee under 60k in net salary. Anyone who things this equates to a lifestyle of yachts and caviar is completely delusional. Those earning 50k and above (gross) are already shouldering the burden of a huge portion of society which benefits from either little or no taxation or negative taxation (social welfare).

gerryo777

hardCopy wrote: »

Why would anyone who currently earns 300K bother getting up in the morning once they've hit the 100K threshold?

That's the attitude we need!!

Jaysoose

fiannafailscum wrote: »

Have you no heart. 100k is a lot of money and is an incentive. All I'm saying is that they don't need it as much as us. They live in their own world of yachts and caviar. While we struggle to put food on the table.

As far as cutting the minimum wage, children will go hungry and have bad Christmas. We don't have much left if we can't just celebrate to gether and now the Government want to take that away too.

No they wont.

kildare.17hmr

fliball123 wrote: »

In fairness anyone earning over 200k that should be hit with 75%...We do need a system of those who can pay more ...pay more...For the time being anyway and when we are back on the road we can start to bring these back down

Exactly, there are too many people earning huge salarys that have felt no real pinch during the last few years. it should be a burden carried equally by everyone and taking more money from already struggling familys is so wrong

bobbysands81

ted1 wrote: »

why would people strive to earn more than 100K if they are gettign taxed at 90%?

these people who get paid over 100k tend to create jobs, 100k isn't really that high of a salary.

While I don't agree with the OP suggestion of a 90% tax if your assertion is correct that such people earning over 100k create jobs then would it not be the case that they just pay themselves less (so they don't earn over 100k) and get it back through profit?

TheVoodoo

90% wealth tax? - Cue Brain Drain.

90% is far too excessive. Just because somebody earns over 100k doesn't mean that they are eating caviar, and sailing around in yachts. It's a pretty silly suggestion. Everyone knows its truffles and helicopters.


But really.. high income doesn't mean high disposable expenditure.

hardCopy

gerryo777 wrote: »

That's the attitude we need!!

Attitude is irrelevant. What we need is more money. Idiotic, trolling, economic policies like this won't bring it in.

fliball123

kildare.17hmr wrote: »

Exactly, there are too many people earning huge salarys that have felt no real pinch during the last few years. it should be a burden carried equally by everyone and taking more money from already struggling familys is so wrong

But there needs to be equally on the other side cuts to welfare and to public sector wage...If you are charging these people more I find it would be more appetitising for them if savings were made on the new taxes they face..We are all in it together people

robd

fiannafailscum wrote: »

Have you no heart. 100k is a lot of money and is an incentive. All I'm saying is that they don't need it as much as us. They live in their own world of yachts and caviar. While we struggle to put food on the table.

As far as cutting the minimum wage, children will go hungry and have bad Christmas. We don't have much left if we can't just celebrate to gether and now the Government want to take that away too.

100k in new income is certainly a lot of money. If you bought a house based on a 200k income in 2004-2006 it's not a whole lot of money cause you're paying some silly mortgage. It's relative really.

Remember it's senior civil servants that really run the country and influence the decisions that politicians make. They earn > 200k. You think a turkey is going to vote for Christmas.

Also, yachts and cavier on 100k, are you having a laugh. Maybe on 300k plus. Yacht clubs like golf clubs are all going down the swaney. Members aren't paying their membership fees or marina fees as they don't have the money just like everyone else.

You'd make a huge amount more money by removing the silly amount of allowances lower earners can use. Tax everyone at the higher rate, with ZERO tax free allowances and you'd get the income tax revenues you desire. If that's too much just remove the tax free allowance and let all income up to higher threshold be taxes at lower rate. Again would increase yield significantly. Remember peoples income hugely dropped over the last 5 years so plenty of 100k plus earners are now earning 30-40k particularly if their income was commission based.

n97 mini

Punish the people who work the hardest, innovate and create employment?

The more you earn the more tax you pay under the current system. Penal tax like 90% would turn us into the European equivalent of Zimbabwe.

I am pie

fiannafailscum wrote: »

Have you no heart. 100k is a lot of money and is an incentive. All I'm saying is that they don't need it as much as us. They live in their own world of yachts and caviar. While we struggle to put food on the table.

As far as cutting the minimum wage, children will go hungry and have bad Christmas. We don't have much left if we can't just celebrate to gether and now the Government want to take that away too.

People who earn let's say 120k don't live in a world of yachts and caviar. They have likely studied hard, gained first class degrees, gone on and invested in their future and obtained masters or PHD degrees. They are mostly working in highly skilled professions with high stress levels, i.e. working in jobs which those of us on less (me included sadly!) are not qualified to do. They also include people who have taken risks to start their own business, and people whose skill levels and ability actually create jobs in Ireland.

This, have a heart, think of the kids carry on is not based on merit. What should happen here is that child benefit should be cut for all those over say 80k, then the less well off could have that figure protected. Same for welfare for single people under 21 or people living at home, that should be reduced also to protect payments for those who genuinely need it.

Back to over 100k bashing...let's say an accountant works on a project to centralise accounting across europe and some other regions. Project is successful, accounting practices in europe are closed and those jobs moved to Dublin. Net result is 40 new jobs in Dublin. Senior Accountant is paid 120k, country gains 40 50k plus jobs. In your world we should cut the accountant's wages, give no incentive for the new 40 accountants to work hard and gain a top salary and in all likelihood loose these jobs in Ireland because we would have a non competive environment devoid of any incentive.

What kind of doctors do you think we would have in this country with that kind of ridiculuous tax structure ?

Do you think for a moment that google, ebay, amazon etc would be open in Ireland paying good salaries to extremely well qualified people ? No, they wouldn't because they wouldn't have the talent. These jobs are a large part of the future of this country and should have the correct incentives to remain here.

Tora Bora

fiannafailscum wrote: »

With the budget coming out I think it's time we discuss the critical issues that will effect us for the next year. We hear about cut backs and lay offs. Well I propose a new wealth tax of 90% over income of 100,000 euro to ort the country out. This will balance the budget and pay for economic stimulus to get people back to work. Once you have 100,000 euro, how much more can you need?

The people who have the most should pay the most because they can afford. Sure half these people probably worked in the banks and ruined the country.

These people don't understand what it's like to have 5 children you need to feed. Want top hear your views on this

You are dead right. Make that tax 99.99%. Why not? Afterall, the government needs the money, to prop up the CP agreement, and to keep the retired PS, and politicans on their fat pensions.
Why not have a land grab, as well. You know, so that we can have fairness and all that.
One more thing. Fire the entire cabinet, and bring in this guy. He wouldnt be long getting your kind of economics in place.

Fr Tod Umptious

This is crazy communist S**t of the higher order.

Do you realize that people that earn a lot of money also spend a lot of money, which is helpful to the economy.

Why on earth would anyone have any incentive to study, work hard, climb the career ladder if at the end of it they ere hit with a huge tax bill.

People have to realise that there is no 100K pa bogey man out there causing all the problems.

Zulu

Moronic & ill convinced. ...and that's being kind.

How would you manage those who bought a house based on a €200K salary? How would these people continue to service their mortgages now you are crucifying them with tax?

ronaneire

fiannafailscum wrote: »

Have you no heart. 100k is a lot of money and is an incentive. All I'm saying is that they don't need it as much as us. They live in their own world of yachts and caviar. While we struggle to put food on the table.

As far as cutting the minimum wage, children will go hungry and have bad Christmas. We don't have much left if we can't just celebrate to gether and now the Government want to take that away too.

Yeah 100K is a fierce amount of money, those who earn it more then likely worked hard for it and how do you know the don't need as much as "us" or would you like to you?

And of your lead to believe anyone who earns over 100K have a lifestyle of yachts and caviar I think it's time you stepped into the real world.

fiannafailscum

I am in the real world. They bailed out the banks now they need to bail out the people. Nad also OUT WITH THE IMF. Money and politics are too involved. What the IMF did was completely illegeal and we had no say in the matter and now they're running the country

Zulu

fiannafailscum wrote: »

I am in the real world. They bailed out the banks now they need to bail out the people.

...and you assume that those on 100K+ haven't been impacted by this, no?
More than likely, someone on 100K has a mortgage, so they've taken a hit there. They more than likely have a pension, and they'll have taken a hit there. They are paying more tax than anyone on a lower salary, so they are putting more into our society & paying back a larger chunk of the bank bail out.

In the real world those on 100K are doing their bit for society, by paying the bills. What are YOU doing other than bitching on the interweb?

ronaneire

fiannafailscum wrote: »

I am in the real world. They bailed out the banks now they need to bail out the people. Nad also OUT WITH THE IMF. Money and politics are too involved. What the IMF did was completely illegeal and we had no say in the matter and now they're running the country

And if they didn't have any money they can't run the Country! Pay wages and welfare. How would you cope then?

fiannafailscum

I'd pay more if I could but I can't. I can't be blamed for not contributing to society because I lost my job

ronaneire

fiannafailscum wrote: »

I'd pay more if I could but I can't. I can't be blamed for not contributing to society because I lost my job

No one is blaming you but those who contribute shouldn't have to pay 90% of their salary in taxes just so others who are well less off can live.

Zulu

fiannafailscum wrote: »

I'd pay more if I could but I can't. I can't be blamed for not contributing to society because I lost my job

Bear that in mind when discussing the salaries of those who are & can contribute.

Don't forget, they are also supporting those less fortunate.

I am pie

How will we pay for the public sectors wages without the IMF ?

You're ranting. It's horrible that you lost your job, it's horrible we're in a mess economically but you cannot wish it all away. We have bills to pay and the IMF / EU / ECB are paying the bills. If you think it's bad now you would not believe how ****ty things would be after getting rid of the people keeping the country afloat and raising the tax to levels that would force every skilled professional to up sticks and leave.

Again, you're just ranting here without really understanding the impact of what your proposing.

Get yourself down to Dame St, plenty of like minded folk down there for ya.

halkar

Most of the tax take is from high earners in this country. with 90% you are more or less telling them to pay up or feck off. I know what option i would choose.

Tipp Man

Wow this thread is like a socialist Mecca

I'll steer clear

bamboozle

has it not been proven time and again taxes on higher earners would only raise around 100m and would also drive lots of these people overseas where they can do the same job for a similar wage without getting nailed by such taxes, ie doctors, accountants etc etc

if we're going for drastic measures how about an extra 5% level on all who continually voted FF into power?

Bottom line from a tax perspective is we've reached breaking point with regards income tax increases, its time to tackle the public sector wage, however this wont happen.

Atilathehun

Imagine the terrible impact this would have on Joe Duffy;)
He would go off the air, and the whingers, whiners and moaners, would have nobody to call and unload all their pent up grief on:o

Marian Finnucane, would have to give up the fags:eek:

Cathy already said, her husband Pat, is now working more hours, for less money.

nesf

Trolling thread is trolling.