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Thats just wrong

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24

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    #32
    Geuze
    Registered Users Posts: 13,142 ✭✭✭✭Geuze


    dr.fuzzenstein wrote: »
    Sad fact of life. You earn money and have half taken off you.

    Not a single person in Ireland pays 50% effective income tax.

    Many pay 50% on extra income, yes, but not across all their income.


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    #33
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    Geuze wrote: »
    Not a single person in Ireland pays 50% effective income tax.

    Many pay 50% on extra income, yes, but not across all their income.

    If you consider the tax you pay on everything you pay for after you get your net pay then you could work it out at way above and beyond 50%.


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    #34
    Geuze
    Registered Users Posts: 13,142 ✭✭✭✭Geuze


    Senna wrote: »
    All pension contributions??

    Yes, all pension contributions are tax-free, up to generous age-related limits.


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    #35
    dr.fuzzenstein
    Banned (with Prison Access) Posts: 16,635 ✭✭✭✭dr.fuzzenstein


    smash wrote: »
    If you consider the tax you pay on everything you pay for after you get your net pay then you could work it out at way above and beyond 50%.

    Tax on income, VAT on what you spend, DIRT, VAT and VRT on cars, Stamp duty and LPT, tax on pensions, nursing homes and the final shafting when you're dead, take into account the state also taxes the other half of the transaction plus whatever levies on business, I dare say nearly 80% of what you make goes straight back to the state.


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    #36
    Geuze
    Registered Users Posts: 13,142 ✭✭✭✭Geuze


    smash wrote: »
    If you consider the tax you pay on everything you pay for after you get your net pay then you could work it out at way above and beyond 50%.

    Total taxes are approx. 40% of GNI.

    I might get the exact figure later, if I get a chance.


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    #37
    Geuze
    Registered Users Posts: 13,142 ✭✭✭✭Geuze


    dr.fuzzenstein wrote: »
    Tax on income, VAT on what you spend, DIRT, VAT and VRT on cars, Stamp duty and LPT, tax on pensions, nursing homes and the final shafting when you're dead, take into account the state also taxes the other half of the transaction plus whatever levies on business, I dare say nearly 80% of what you make goes straight back to the state.

    More like 40% approx.

    Let's do the sums.

    2014 taxes and social conts = 57,381m
    2015 taxes and social conts = 62,177m

    2014 GNP = 162,877M

    So taxes are 35.22% of income.


    This makes sense.

    Take my parents, who pay under 10% direct income taxes on 50k income.

    Okay, they pay a bit of VAT and excise after that, not much, and some LPT.

    But their total taxes would be less than 20% of their income.

    Now, other would pay more.

    But 35% overall sounds right.


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    #38
    Squall Leonhart
    Closed Accounts Posts: 1,794 ✭✭✭Squall Leonhart


    Geuze wrote: »
    Yes, all pension contributions are tax-free, up to generous age-related limits.

    This simply isn't true. See my earlier post.


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    #39
    pavb2
    Registered Users Posts: 2,931 ✭✭✭pavb2


    Geuze wrote: »
    Yes, all pension contributions are tax-free, up to generous age-related limits.
    Contributions are tax free but for me after I took a 25% tax free lump sum all other withdrawals are subject to USC and normal taxation.


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    #40
    system_538781
    Registered Users Posts: 36 ✭system_538781


    Deleted User wrote: »
    Something about getting figuratively raped. Sure the state could be a lady wearing a dildo.

    If you read the OP you'll see that the state "asked" them to supply Vaseline. So nice of a strap-on wearing state to give notice to rape.


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    #41
    Geuze
    Registered Users Posts: 13,142 ✭✭✭✭Geuze


    Squall Leonhart wrote: »
    This simply isn't true. See my earlier post.

    I did mention that there are age-related limits........


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    #42
    Geuze
    Registered Users Posts: 13,142 ✭✭✭✭Geuze


    pavb2 wrote: »
    Contributions are tax free but for me after I took a 25% tax free lump sum all other withdrawals are subject to USC and normal taxation.

    Yes, true.

    Although note that those over 65 get three tax reliefs on their income that people under 65 don't get.


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    #43
    CabanSail
    Moderators, Category Moderators, Arts Moderators, Entertainment Moderators Posts: 9,047 CMod ✭✭✭✭CabanSail


    PARlance wrote: »
    You make it sound like they aren't allowed to get a tax free lump sum. They are. Up to 200k. They could take a further 300k at the standard rate.

    The €200k is only available if you have €800k+ in your fund or you earn €134k+ as your final pay. If you earn, say, €50k and have €250k in the fund then the Tax Free Lump Sum would be €75k the remaining €125k would be taxed at about 52%.


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    #44
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    CabanSail wrote: »
    The €200k is only available if you have €800k+ in your fund or you earn €134k+ as your final pay. If you earn, say, €50k and have €250k in the fund then the Tax Free Lump Sum would be €75k the remaining €125k would be taxed at about 52%.
    200k wouldn't last you very long in retirement...


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    #45
    CabanSail
    Moderators, Category Moderators, Arts Moderators, Entertainment Moderators Posts: 9,047 CMod ✭✭✭✭CabanSail


    smash wrote: »
    200k wouldn't last you very long in retirement...

    It would buy a flat, which was the plan. That is now gone. Not much of a flat you can buy the lump sum. Those who can get the €200k could buy a second yacht though. Great system.


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    #46
    Agent Smyth
    Registered Users Posts: 714 ✭✭✭Agent Smyth


    smash wrote: »
    200k wouldn't last you very long in retirement...
    It depends on how you spend it, most people wont spend as much in retirement as they did in there 40s, I suspect most people could live quite well on 20k a year


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    #47
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    Agent Smyth wrote: »
    It depends on how you spend it, most people wont spend as much in retirement as they did in there 40s, I suspect most people could live quite well on 20k a year
    Not a hope in hell.


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    #48
    PARlance
    Registered Users Posts: 21,099 ✭✭✭✭PARlance


    CabanSail wrote: »
    It would buy a flat, which was the plan. That is now gone. Not much of a flat you can buy the lump sum. Those who can get the €200k could buy a second yacht though. Great system.

    So we should have wealth equalisation upon retirement?

    Some people have more money than others. The system.

    They should really get some professional advice. They have a small pension and buying a flat is awful use of it.


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    #49
    Agent Smyth
    Registered Users Posts: 714 ✭✭✭Agent Smyth


    smash wrote: »
    Not a hope in hell.

    well I hope for your sake your pension fund exceeds your living requirments


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    #50
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    esforum wrote: »
    Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

    I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

    Did you bother researching this at all, no?


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    #51
    HensVassal
    Banned (with Prison Access) Posts: 2,570 ✭✭✭HensVassal


    system wrote: »
    What did you see then?

    Homesexual sex is an act of lust or love.

    Anal rape is an act of violence. And anal sex is not necessarily a homosexual act.


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    #52
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    HensVassal wrote: »
    Homesexual sex is an act of lust or love.

    Anal rape is an act of violence. And anal sex is not necessarily a homosexual act.
    Your posts in this thread are the type of posts that are sucking the life out of boards!


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    #53
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    HensVassal wrote: »
    Homesexual sex is an act of lust or love.

    Anal rape is an act of violence. And anal sex is not necessarily a homosexual act.

    lolwtf.

    How did the conversation turn to this


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    #54
    OldNotWIse
    Closed Accounts Posts: 12,468 ✭✭✭✭OldNotWIse


    smash wrote: »
    Not a hope in hell.

    If they have their mortgage paid and don't have many outgoings? I think it would be an ok standard.


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    #55
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    OldNotWIse wrote: »
    If they have their mortgage paid and don't have many outgoings? I think it would be an ok standard.
    No way. After paying for food and petrol and everything else you'd have nothing. It could take months to save even to buy a flight for a holiday never mind accommodation and spending money.


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    #56
    OldNotWIse
    Closed Accounts Posts: 12,468 ✭✭✭✭OldNotWIse


    smash wrote: »
    No way. After paying for food and petrol and everything else you'd have nothing. It could take months to save even to buy a flight for a holiday never mind accommodation and spending money.

    My parents live on the state pension. They also go on holidays.

    Edit: should say, its contributory, I don't know if that makes a difference to the amount they get.


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    #57
    Agent Smyth
    Registered Users Posts: 714 ✭✭✭Agent Smyth


    smash wrote: »
    No way. After paying for food and petrol and everything else you'd have nothing. It could take months to save even to buy a flight for a holiday never mind accommodation and spending money.

    At the moment myself and my wife live on >20k a year, that includes all living expenses, med insurance, two cars, and any social & hobby expenditure, the only thing that's not included is foreign holidays.


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    #58
    Geuze
    Registered Users Posts: 13,142 ✭✭✭✭Geuze


    smash wrote: »
    Not a hope in hell.

    Tens of thousands of people live perfectly well on the State Pension.

    233 pw = 12k approx pa.


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    #59
    HensVassal
    Banned (with Prison Access) Posts: 2,570 ✭✭✭HensVassal


    dr.fuzzenstein wrote: »
    Sad fact of life. You earn money and have half taken off you. Whatever you spend is 21% VAT. Whatever you save, the tiny bit of interest is taken away again with DIRT. Buy a car, get shafted twice, buy a house, ditto, finally when you're old and need care, you will have to fork out €3k a month to be left lying in your own filth in a crooked nursing home and if you really did, against all odds and the state robbing you blind, manage to retain a house and a few bob, the state will shaft you even in death.
    Oh, and pensions are a sham. A glorified pyramid scheme. You pay in now to pay for the existing pensioners. That money isn't yours. It gets pissed away immediately. I guarantee you, once you're old they'll say "Oh sorry there old bean, taxman took it all, not a sausage left, I barely got my own commission out of it, isn't that funny?"
    Forget being Middle Class, we get shafted and gutted like kippers. Either be poor and live off the state in social housing and on the dole (paid for by us) or be filthy rich and get tax breaks for everything you didn't squirrel away to the Bahamas by shafting your suppliers and customers and then declaring "bankruptcy".
    So, if you're honest and hardworking, you're screwed. Because if you take into account paying tax on your income, VAT on your shopping, DIRT, VAT and VRT on cars, Stamp Duty, LPT, taxing your pension, and care when you're finally clapped out, I'm willing to bet that nearly 90% of what we make gets pissed away on tax between you and tax on business. You will be taken for a ride and treated with contempt. And it's very funny, just how loud a lot of us turkeys scream for Christmas. And that the state manages to run at a loss.
    Basically, if we managed to accumulate wealth (the avergae Joe that is) we wouldn't be dependent on our dead end jobs to make ends meet and we might question the state. Therefore all our money and assets have to be stripped to keep us perpetually down, sky high tax, rent, property prices and care for the elderly ensure that this is the case. Imagine what would happen if the middle classes could accumulate enough wealth to give up the rat race? The state would lose out massively on tax, large multinationals would lose out on mindless worker drones, large pensions funds would completely dry up (not that you will ever see that money again in any case) and God knows who else would lose out on riding us. So, yes it's a rat race, it's for saps and you can't win unless you're even more crooked.

    Well said Doc, and the ones who don't want to believe this is the way things are will call you a tinfoiler. Funny that, huh?


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    #60
    Geuze
    Registered Users Posts: 13,142 ✭✭✭✭Geuze


    OldNotWIse wrote: »
    Edit: should say, its contributory, I don't know if that makes a difference to the amount they get.

    Contribute PRSI all your life = 230 pw in 2015

    Non-contributory pension = 219 pw in 2015

    11 euro per week more.


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    #61
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    Geuze wrote: »
    Tens of thousands of people live perfectly well on the State Pension.

    233 pw = 12k approx pa.

    Living on ≠ live perfectly well on


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