Tax Reform

JD_PN17

Idbatterim wrote: »

Property taxes are farcical. Whack them up, lower the marginal rate and increase the entry point. Get the legions paying as good as nothing in income taxes in, to start contributing more. Basically stop levying insane anti enterprise and employment levels of income tax, i.e. The marginal rate. I'm in total agreement op!

I'm somewhat confused with your views on property tax, do you believe they should be increased? Cheers for the agreement, it's nice to come across like minded people. If we changed the tax system we would attract more multinationals and would be able to poach more services/jobs from the U.K. with regards to Brexit. Most medical professionals amongst others would possibly be inclined to stay within the state after graduating rather than emigrating after gaining free education, thus giving back to the state through taxes.

A simple tax adjustment would reap benefits for the state that most people wouldn't be able to recognise.

Peregrinus

JD_PN17 wrote: »

I'm somewhat confused with your views on property tax, do you believe they should be increased? Cheers for the agreement, it's nice to come across like minded people. If we changed the tax system we would attract more multinationals and would be able to poach more services/jobs from the U.K. with regards to Brexit. Most medical professionals amongst others would possibly be inclined to stay within the state after graduating rather than emigrating after gaining free education, thus giving back to the state through taxes.

A simple tax adjustment would reap benefits for the state that most people wouldn't be able to recognise.

Here in the real world, JD, most people are aware that we have already changed our tax system to attract multinationals, and are generally perceived to have done so with considerable success. And its one of the reasons why we have such a relatively high reliance on income and expenditure tax, and a relatively low reliance on corporation taxes and property taxes, when compared to other countries.

Ireland doesn't really have a population shortage and, except in times of exceptional boom, we've never had much of problem providing our needs for labour, including skilled labour. We have never needed low income taxes in order to attract workers to Ireland

Our shortage has always been of capital and enterprise, and we have successfully attracted that by lowering corporation taxes and property taxes.

Idbatterim

Brexit sopportunities are blown for the most part. No company will come out and sAy it for multiple reasons. But locating here isn't exactly attractive. More dysfunctional housing market than London. Outrageous child care cost and marginal tax rate. Third world public transport to name the main issue. Very high commercial property rents too. This stuff has been discussed and written about to death In the Irish times etc ... it's not opinion, it's fact! The way we go about taxation in this country, is based on nothing but vote buying shorttermism and has been for decades...

They say 15% is what is needed to keep corporations here. As if talent and people aren't mobile, tax them at 51% over a pittance. I turn down work frequently due to the marginal rate.

Property tax rates here are far too low .18% may other countries have 1% ...

Take a look at the following , I'm sure it will be of interest to you ...

https://m.youtube.com/watch?v=XL3n59wC8kk

Peregrinus

There's nothing following, Idbatterim.

Idbatterim

Sorry link there now

Idbatterim

Op Renua have just outlined there new tax policy. 40 minute clip on their website. It's as obvious to them as it is to you who I, that some people are being taxed far too heavily. Ironically the beneficiaries on our outrageous welfare state , still don't think it's enough ...

Also you are correct in your assertion that lower income earners contribute virtually nothing in income taxes and again we are out of line with our European peers on this. If you are letting a massive amount away Scott free, someone is going to take an absolute hammering. Morally right? No, but when you have say in in a 100 people on 100k, I'm not saying that's a high salary, but come to voting time, do the parties care about the highish earners ? Course not, don't delude yourself that fairness comes into it. Power is the goal ...

keane2097

Idbatterim wrote: »

Op Renua have just outlined there new tax policy. 40 minute clip on their website. It's as obvious to them as it is to you who I, that some people are being taxed far too heavily. Ironically the beneficiaries on our outrageous welfare state , still don't think it's enough ...

Also you are correct in your assertion that lower income earners contribute virtually nothing in income taxes and again we are out of line with our European peers on this. If you are letting a massive amount away Scott free, someone is going to take an absolute hammering. Morally right? No, but when you have say in in a 100 people on 100k, I'm not saying that's a high salary, but come to voting time, do the parties care about the highish earners ? Course not, don't delude yourself that fairness comes into it. Power is the goal ...

I often see the bolded bit being fired out as a proof that we are utterly misguided in our approach and wonder where that fits in with us always seeming to be the fastest growing economy in Europe.

OMD

keane2097 wrote: »

I often see the bolded bit being fired out as a proof that we are utterly misguided in our approach and wonder where that fits in with us always seeming to be the fastest growing economy in Europe.

We tax lower earners very little and high earners more. As a high earner I think this is a fair system.
We are a country with essentially no natural resources with no proper land border to any other country yet we do remarkably well in most areas. Our tax policy has to be a major factor in the growth of this country.