Protecting yourself against the impending Sinn Fein "Wealth" grab

MakersMark

Question for the working folks here on Boards (less than 20% of Current Affairs posters by the looks of things).

We have about 2.5 years max left to protect what we worked for from Mary Lous "Solidarity" programmes.

What are your plans to mitigate the damage?

I'm most likely exiting all my rental investments, and moving the proceeds to the US, and gifting as much as possible to my kids.

May invest in farmland, since she's said she'll keep her mucky paws off working farms.

Not sure yet how much more the greedy left will want to take from our pensions, so not sure if it's worth putting more AVCs in.

growleaves

'Question for the working folks here on Boards (less than 20% of Current Affairs posters by the looks of things).'

Have you ever actually held an office job before?

People posting during the day aren't on the dole, they just have multiple browser tabs open.

bucketybuck

No housing crisis for Sinn Fein, they get to live rent free in some peoples heads.

SafeSurfer

https://www.boards.ie/discussion/2058264812/protecting-yourself-against-the-impending-sinn-fein-wealth-grab

A Sinn Fein government after the next election is not a foregone conclusion. They would need around 15 to 20 seats from other parties/independents to form a government. Will be unwieldy if not impossible without Fianna Fáil.

growleaves

https://www.boards.ie/discussion/comment/119662581#Comment_119662581

That's a question for them and their employers!

My point is just that if you see someone posting on a Monday morning/afternoon you shouldn't assume they're a social welfare recipient. They're more likely to be in work, though it isn't justifiable in terms of work ethic.

Run Forest Run

Commodities, dammit !!

You'll own nothing, and somebody somewhere will be happy.

Yurt2

Complaining about other people's productivity while threatening to buy farmland to avoid tax on passive income.

That's just what Ireland needs, buy-to-let property spivs with no background in agriculture jacking up the price of farmland in a food inflationary cycle.

DataDude

https://www.boards.ie/discussion/2058264812/protecting-yourself-against-the-impending-sinn-fein-wealth-grab

Put all your wealth into buying a massive home - because that doesn’t count in Sinn Fein land.

ancapailldorcha

Well, I earned my "wealth" in the UK so if I ever go back, that'll be my excuse. No way they'd disagree as that'd be hypocritical. Airtight.

Furze99

https://www.boards.ie/discussion/comment/119662658#Comment_119662658

Especially a massive home in Donegal!

MakersMark

https://www.boards.ie/discussion/comment/119662651#Comment_119662651

Wow!

Lots of ignorance in this post.

Actually have farming background with 2 small working farm holdings.

As for calling me a spiv...very classy.

Are you one of Mary Lous "Most Vulnerable"?

I'm a hard worker looking for tips from other hard workers to avoid lazy people taking even more of my money.

Sorry for your troubles.

Anything constructive to add?

Yurt2

https://www.boards.ie/discussion/comment/119663025#Comment_119663025

Get on with farming so. You don't earn money throwing a sook on a forum.

SuperBowserWorld

You could start your own political party and invest your money in it.

blanch152

https://www.boards.ie/discussion/comment/119662658#Comment_119662658

From abolishing LPT to no tax on your major residence, it never surprises me how SF's policies appear to help people like J.P. McManus.

SF claim to want to help the homeless, yet refuse to tax those who own homes so as to pay to help the homeless. Bizarre.

GNWoodd

https://www.boards.ie/discussion/2058264812/protecting-yourself-against-the-impending-sinn-fein-wealth-grab

Certainly land as they wouldn’t be able to get their lands on it . You would need to fulfil minimum stocking rates etc or rent it to get a return .

Would leave only the very minimum in bank accounts . And it is not just from Sinn Fein . The last time there was a crisis the banks were bailed out by the state and the shareholders lost everything . Next time , it’s a bail in , where presumably it will be depositors footing the bill .

893bet

Lol hard at the idea of deposits being seized in Ireland.

Keep it in cash under the mattress. Be safe there.

maccored

jaysus - the fear is real🤣

maccored

any self respecting rich person has no cash - the money is spent buying assets, which then loans are taken out against reducing the amount of tax paid.

satguy

I for one welcome our new Sinn Fein overlords.

It will be a wild ride,, and surely will be better than FFG.

Cluedo Monopoly

https://www.boards.ie/discussion/2058264812/protecting-yourself-against-the-impending-sinn-fein-wealth-grab

So let me get this straight. FFG have been taxing me to the hilt for 3 decades and providing me with ****-ty public services throughout while feathering their own nests through endemic corruption and cronyism. They also created the welfare state, destroyed our housing market and made us one of the most indebted countries in the world per capita.....but I should be afraid of SF and the opposition?

You have Stockholm syndrome.

namloc1980

The fact Sinn Féin classify normal defined contribution pensions that people contribute to in the hope of having a decent standard of living in retirement as "gold-plated" is absolutely bonkers. They are out to gouge hardworking people who have worked to do well for themselves in life, make no mistake.

GNWoodd

https://www.boards.ie/discussion/comment/119663128#Comment_119663128

Thanks for the advice . I don’t and won’t have it in either .

rolling boh

SF have to make massive gains to get into power and even if they do it will not be on their own or with left wing pals so they will have to water down most if not all of their solutions so there will not be the huge changes when reality is there to be faced .

Dr Turk Turkelton

How much per acre could an approx 30 acre farm in Meath be rented out for and would the owner have many obligations like a residential landlord would?

Murph85

What about FFG brilliant wealth grab? 50% over a pittance of an income, that even hits the working poor's income? SF cant be much worse, there needs to be a move away from outrageous income tax rates, to tax wealth in other areas and reduce the marginal rate of tax...

Furze99

https://www.boards.ie/discussion/comment/119663316#Comment_119663316

LOL.. wouldn't have put you down as a rich boy!

Relax brah

Expect anyone with half a brain to migrate should them terrorists get into government.

Embarrassing how the uneducated lower class/low IQ supporters buy their nonsense. They can’t even keep the north in check lol

Allinall

https://www.boards.ie/discussion/comment/119664004#Comment_119664004

Who does the bill have to be paid to?

They must be doing ok.

It’s not doom and gloom for everyone.

2011

https://www.boards.ie/discussion/2058264812/protecting-yourself-against-the-impending-sinn-fein-wealth-grab

Mange tout Rodney, mange tout. Top of my list will be moving the super-yacht to Monaco.

Allinall

https://www.boards.ie/discussion/comment/119664040#Comment_119664040

So if the money never existed, and we don’t have to pay it back, where’s the issue?

maccored

https://www.boards.ie/discussion/comment/119663901#Comment_119663901

thats the problem with stereotyping😉

thegame983

USC is the biggest wealth grab in recent history and that wasn't implemented by SF.

Tow

https://www.boards.ie/discussion/comment/119662688#Comment_119662688

You don't need to go that far from da big smoke, there is a massive home on the Navan road.

blanch152

https://www.boards.ie/discussion/comment/119664004#Comment_119664004

I don't agree with this at all. There has been inflation of housing assets, but to call it hyper inflation is overstretching it. The gap between housing prices and construction costs are the one to watch. Outside of South Dublin, that gap isn't sufficient to say that there is hyper inflation. Property prices can only fall below construction costs when there is enough supply, and no more building is required.

Donald Trump

Spend it all on coke and hookers before they get in.

They can't take it from you if you don't have it anymore!

ELM327

Have to laugh at the "under the bed" suggestions. Cash is the last thing you want in an era of 7-10% inflation.

SuperBowserWorld

https://www.boards.ie/discussion/comment/119665892#Comment_119665892

It's handy for paying for food, energy, clothes, ...

Loafing Oaf

Are we taking the OP at face value? Does anyone really believe SF have such a Leninist program of 'wealth confiscation' lined up?

CarProblem

https://www.boards.ie/discussion/comment/119665929#Comment_119665929

"Are we taking the OP at face value?" - I'm most certainly not

The only real wealth tax we have (Property tax), SF wants to abolish. In any case unless I've missed something else another government did FG/Labour stole out of DC pensions in the 2011-16 government

ELM327

https://www.boards.ie/discussion/comment/119665909#Comment_119665909

You actually save money on those items by investing your money in something that gives a return, and borrowing to pay for essentials. 10% inflation completely negates 3-6% interest.

erlichbachman

Sinn Fein the party living in cloud cuckoo land, will bring the country to its knees if the ever obtain any power

ELM327

https://www.boards.ie/discussion/comment/119666000#Comment_119666000

Thankfully it is not likely they will ever get in.

erlichbachman

https://www.boards.ie/discussion/comment/119666010#Comment_119666010

That's what they said about Trump

ELM327

https://www.boards.ie/discussion/comment/119664778#Comment_119664778

USC is probably the best method of income tax. It is not a wealth tax. It taxes earnings. Therefore it is an income tax. Income tax =/= wealth tax, as income =/= wealth.

https://www.boards.ie/discussion/comment/119666027#Comment_119666027

Yes but Trump isnt a bunch of champagne socialist fools led by a former FF member from leafy dublin 4 suburbs

thegame983

https://www.boards.ie/discussion/comment/119666108#Comment_119666108

USC is just us paying off someone elses gambling debts.

nc6000

https://www.boards.ie/discussion/comment/119666010#Comment_119666010

Will they not? I think it's unlikely we will have another FFG government next time. I'm no SF fan but we need a change.

ELM327

https://www.boards.ie/discussion/comment/119666188#Comment_119666188

USC goes straight in to the central pot of taxation and is pro rata.

https://www.boards.ie/discussion/comment/119666272#Comment_119666272

"We need a change" that's not what the electorate decided last time, nor is it what the polls indicate. The majority are still against SF.

Tow

https://www.boards.ie/discussion/comment/119666188#Comment_119666188

Not all of it. 2% 4% of USC is the Health Levy, which used to be included in PRSI. If we got rid of USC it would just move back into it, and the reality is you would not see all that much difference in Net Pay.

Before USC there were many wealthy individuals who paid very little/no tax. They did this by investing in BES Schemes, Section 23, Film Relief etc etc. All of these added up and it was possible to come across people with several 100k of tax credits. USC is a tax with no credits/allowances, except medical cards and eu equivalents. It was much the same as Russia did when they were bankrupt after the fall of the USSR, they introduced a flat 10% tax with no exemptions.

nc6000

https://www.boards.ie/discussion/comment/119666284#Comment_119666284

It's my opinion that we need a change, I don't see what another FFG term gets us.

Strumms

https://www.boards.ie/discussion/comment/119663413#Comment_119663413

Yes, you should…

welfare state… ? There will still be a welfare state with Sinn Fein in power…Only trouble will be, Irish people, Irish taxpayers who need it through losing a job, falling ill etc will be less of the ability to be accessing it, to be helped by it.

Sinn Fein also are pro birthright citizenship in Ireland. They campaigned for it , both Adams and Mary Lou vociferously advocate for it.. but when it was put to a referendum however, 79% of citizens here voted against it.

that’s a prime example of just how out of touch Sinn Fein are with the feelings, concerns, challenges and welfare of Irish citizens. Make no mistake… all SF want is to get into power and stay there.

Loafing Oaf

https://www.boards.ie/discussion/comment/119666284#Comment_119666284

The majority are still against SF.

It's no longer clear than an FF vote is an anti-SF vote

https://www.irishexaminer.com/news/politics/arid-40925951.html

Or do you just mean that every vote for one party is against all other parties? In that case evey coalition government is 'against the wishes of the electorate'...