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Mick Wallace takes 41k extra from taxpayer

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    #32
    bobbysands81
    Registered Users Posts: 7,201 ✭✭✭bobbysands81


    Gurgle wrote: »
    Fianna Fàil ran the country for 69 of the last 80 years.
    How is a Fine Gael / Labour coalition 'doing the same thing'?

    Because they're continuing on with their failed policies.


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    #33
    bobbysands81
    Registered Users Posts: 7,201 ✭✭✭bobbysands81


    Monty Burnz wrote: »
    Labour/FG got the country off its knees in the 90s, then Fianna Failure got in and turned an incipient boom into a bubble. Hopefully Lab/FG will be able to pull off the same trick this time, but of course by the time things are turning around in 3 or 4 years (all going well) the public will be sick of them and will vote in Fianna Failure again.

    Sinn Fein's and the ULA's economic policies are frankly hilarious.

    Yeah, imagine we actually had an equitable tax system.


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    #34
    Monty Burnz
    Closed Accounts Posts: 12,455 ✭✭✭✭Monty Burnz


    bobbysands81 wrote: »
    Because they're continuing on with their failed policies.
    The failed policies are the ones that caused the bubble - I find it astonishing that people still miss this point. The current policies haven't failed (yet) - and if they do it will be because they didn't cut aggressively enough.


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    #35
    beeno67
    Registered Users Posts: 1,218 ✭✭✭beeno67


    bobbysands81 wrote: »
    Yeah, imagine we actually had an equitable tax system.

    What is an equitable tax system. At present the top 10% of earners pay 80% of income tax in this country. The top 50% pay 97% of the income tax.


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    #36
    Monty Burnz
    Closed Accounts Posts: 12,455 ✭✭✭✭Monty Burnz


    bobbysands81 wrote: »
    Yeah, imagine we actually had an equitable tax system.
    The burden on the middle-income people is indeed way too high - social welfare cuts and cuts to public sector salaries would certainly help there.

    Of course, tax would be the least of our worries after Sinn Fein chase every business we have out of the country.


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    #37
    jased10s
    Closed Accounts Posts: 194 ✭✭jased10s


    Well done Mick.
    Gotta give him the respect for ride'ing joe public and at the same time saying he will give 50% back.

    Can you not see what fools they are taking us for...


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    #38
    Dannyboy83
    Registered Users Posts: 4,236 ✭✭✭Dannyboy83


    jased10s wrote: »
    Well done Mick.
    Gotta give him the respect for ride'ing joe public and at the same time saying he will give 50% back.

    Can you not see what fools they are taking us for...

    People see it - no doubt about that.
    I'd say we will start to see some big jumps in in tax evasion over the next few years.


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    #39
    dublinman1990
    Registered Users Posts: 8,344 ✭✭✭dublinman1990


    Gurgle wrote: »
    Fianna Fàil ran the country for 69 of the last 80 years.
    How is a Fine Gael / Labour coalition 'doing the same thing'?

    Well technically they are not IMO. Here is what I can tell you in a nutshell.

    Most of Fine Gael/Labour's policies haven't even been tried yet.

    Fianna Fail just made their earlier policies years ago by simply spinning them from the middle of nowhere. That lead us to the crash that we have today.


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    #40
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    beeno67 wrote: »
    At present the top 10% of earners pay 80% of income tax in this country. The top 50% pay 97% of the income tax.
    I'm not sure how recent those figures are, I think they go back a few years.
    But taking them as representative of the current figures:

    That 10% who pay 80% of the tax, who is paying them?

    The majority of wealthy people get that way through their businesses, so the process of getting wealthy doesn't happen through the PAYE system. Most of the personal tax paid is in the form of capital gains, at a much lower rate.

    Nobody gets very wealthy on a PAYE salary.

    So who gets to be very wealthy on taxable money?
    Government contractors.

    So that 80% paid by top earners is simply a direct result of governments overpaying contractors. It's not part of the 'real' economy, its just one government department handing money to another through a 3rd party contractor. Meanwhile the contractor gets very very rich on the 48% he gets to keep, as he's being paid his hourly consultation rate for 40 hours a week 52 weeks a year.


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    #41
    Monty Burnz
    Closed Accounts Posts: 12,455 ✭✭✭✭Monty Burnz


    Gurgle wrote: »
    m of capital gains, at a much lower rate.

    Nobody gets very wealthy on a PAYE salary.

    So who gets to be very wealthy on taxable money?
    Government contractors.

    So that 80% paid by top earners is simply a direct result of governments overpaying contractors. It's not part of the 'real' economy, its just one government department handing money to another through a 3rd party contractor. Meanwhile the contractor gets very very rich on the 48% he gets to keep, as he's being paid his hourly consultation rate for 40 hours a week 52 weeks a year.
    If you want us to accept this claim, you might want to find some documentary evidence for it. It doesn't make sense to me.


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    #42
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    Monty Burnz wrote: »
    If you want us to accept this claim, you might want to find some documentary evidence for it. It doesn't make sense to me.
    Its more of a question / suggestion than a claim really.

    Its easy to publish a figure: "10% of workers pay 80% of PAYE" and let people form their own interpretation.

    I don't know of anywhere to get details of the tax arrangements of the top 10% of earners, or even what qualifies as earnings.

    I do know that when you're in business there are a million ways to get paid without putting it through PAYE.

    Is Michael O'Leary in that top 10% for example? What salary does he take? What does he write off as expenses? What allowances does he get for owning a stud farm? What does he make on shares (allocations / dividends / capital gains)?
    He can drop 30% of his PAYE-able salary into pension contributions (and he'd be crazy not to) and avoid tax entirely on that.

    Whats his total tax bill as a percentage of his total income?


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    #43
    Busted Flat.
    Registered Users Posts: 4,003 ✭✭✭Busted Flat.


    I was looking for a suitable thread to put this, hopefully this one is correct.
    Pot calling the kettle sort of thing.

    Bank pursues junior minister over €2.5m loans

    https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&ved=0CDsQFjAB&url=http%3A%2F%2Fco.covertimes.com%2Fnews%2Firish-times-ie_2013-07-19%2Fbank-pursues-junior-minister-over-%25E2%2582%25AC2-5m-loans%2F1039741&ei=j5TpUcSsOcrA7AbT1IC4Bw&usg=AFQjCNEkUgkCeXqqcE1r-Lwa0rozrrlcaQ&bvm=bv.49478099,d.ZGU


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