Work up to 75!

PARlance

https://www.boards.ie/discussion/comment/121309513#Comment_121309513

There's a lot of anger there, directed at a lot of people. You could probably narrow down that anger from an entire generation to a much smaller subset.

The next time I'm collecting the kids from school I'll let the huge group of boomers have a piece of my mind. I will try to do so before their grandchildren are there. Wouldn't want to upset the kids or get in the way of the boomers having to mind their children's children.

ancapailldorcha

https://www.boards.ie/discussion/comment/121309826#Comment_121309826

That sounds like a mess, frankly. It's one of the reasons I want to stay in the UK as I've been here over 10 years.

Emblematic

https://www.boards.ie/discussion/comment/121309815#Comment_121309815

However since productivity is calculated based on GDP, this productivity of the Irish worker is distorted upwards by the multinationals themselves which run profits through Ireland for tax purposes.

El_Duderino 09

https://www.boards.ie/discussion/comment/121309838#Comment_121309838

Ok. If that's what you want to do, it's nothing to do with me.

ancapailldorcha

https://www.boards.ie/discussion/comment/121310008#Comment_121310008

Agreed.

I think we need to start taxing capital and wealth. Returns on these are outpacing those on labour and it's creating a serious disparity which is undermining the social contract IMO.

dickdasr1234

https://www.boards.ie/discussion/comment/121309622#Comment_121309622

Not to mention, 2 iPads, Xbox, 60" SmartTV, phones for everyone, Netflix, Disney+, Skyports, Lazyboys and, I'm sure, a few other must haves without which one would be designated on the poverty line.

crusd

https://www.boards.ie/discussion/comment/121309929#Comment_121309929

Irelands GNP is still among the highest. And either way whether its the product of the Labour of Irish workers or overseas workers, its value generated by Labour that is advantaging the suppliers of capital disproportionately.

ancapailldorcha

https://www.boards.ie/discussion/comment/121310309#Comment_121310309

I don't have any of these save for a phone I bought in 2017 on the cheapest contract possible.

El_Duderino 09

https://www.boards.ie/discussion/comment/121310274#Comment_121310274

100%. Labour is taxed higher as if it was dishonourable to sell your labour for money. Unearned wealth is taxed less as if it was virtuous to live off money you didnt have to actually work for.

In any case, the population has grown over time without the will to grow the infrastructure along with it. Now we're experiencing the consequences of that policy. There's no way pensions will be waiting for my generation at 65.

If youre retired, enjoy your pension and your leisure time. Maybe acknowledge that the young people are paying for your retirement and they will never have a retirement of their own. Maybe even consider being grateful (Joke. I would never expect old people to be grateful)

El_Duderino 09

https://www.boards.ie/discussion/comment/121310309#Comment_121310309

I love this. Can you even get a non smart TV nowadays? Should we all go out to fancy retro shops and buy a boxy cathode ray tube TV?

I got my TV on Facebook marketplace when the old one broke. In fact the only thing from either of your lists that I have is a netflix subscription.

Funny one. I heard an old person doing the same old person skit you're doing, on the radio and said young people should save money by cancelling netflix and go to the cinema instead. Clueless, but very confident.

Padre_Pio

https://www.boards.ie/discussion/comment/121310333#Comment_121310333

Productivity in based on the value of goods sold.

We manufacture high margin products and provide high margin services, by virtue of the MNCs that are based here.

The average Irish worker is no more productive than any other western world worker.

joseywhales

https://www.boards.ie/discussion/comment/121310609#Comment_121310609

Virtue or fairness, has nothing to do with it. It's basic power. Try to increase inheritance tax and see how much power you will have in politics, you will literally get death threats and be pilloried in the media.

You are of course correct. Ironically, even from a capitalist perspective, resources should flow to the most productive people. It breaks meritocracy, it makes the economy less efficient and last but least, it is also unfair.

There is a balance of course, if you take everything from inheritance you remove all incentive for productive and responsible management of assets near end of life. But we are nowhere near the proper balance.

spaceHopper

They make it harder and harder to afford a place to live and raise a family. The result is people have fewer children and they will be lifelong renters. But otherwise in good health because they banned cheap booze and sugary drinks, made public transport so Sh1t and getting a driving license so difficult that everybody walks. Tada now you've nobody to pay into the pension pot and everybody is drawing from it.

endacl

https://www.boards.ie/discussion/comment/121309850#Comment_121309850

Are you aware that if you return to Ireland to work, you can continue to pay contributions in the UK, and be eligible for both an Irish and UK state pension?

maninasia

https://www.boards.ie/discussion/comment/121310609#Comment_121310609

Capital gains is what, 33% . 40% on foreign funds . 20% if non resident on property income. An Irish resident company is liable to corporation tax at 12.5% on its trading profits, 25% on passive income and 33% on capital gains.

Well it's certainly lower than workers on high salaries but then you get hit with tax on your investments so it's hard to win in Ireland. Only one that doesn't get taxed much is the investment in your own home and your pension contributions.

ancapailldorcha

https://www.boards.ie/discussion/comment/121313039#Comment_121313039

Barely. Thanks for the tip!

El_Duderino 09

https://www.boards.ie/discussion/comment/121313376#Comment_121313376

Which of those passive incomes is taxed at a higher rate than a person selling their labour if they income is more than €40,000?

If its so hard to win by investing, then those people could try, god forbid, working for a living.

Are you seriously suggesting its too hard for people with wealth to simply live off investments without haveing to get a job?

I'm sure I've picked you up wrong so tell me what you actually mean.

dickdasr1234

https://www.boards.ie/discussion/comment/121310386#Comment_121310386

Congratulations

maninasia

When I don't disagree with a lot of what your saying clearly not everybody is sitting at home doing nothing.

For instance you may have noticed a massive uptick in swimming in lakes and the ocean in Ireland and water sports in Ireland, right?

Cycling is also quite popular. Hiking is popular.

Some people are paying more attention to their health now even if there are still way too many takeaways in Ireland.

maninasia

I am totally in agreement that income from labour shouldn't be taxed more than profit from investments . There's something very wrong about that in my book. Why should you pay more tax the harder you work. Doesn't make sense. Broadly companies don't pay higher tax rates the more money they earn . Why is it people do?

That's something that needs to be debated instead of mouthing ' rich ' need to pay while a company only pays 12.5% tax on profits.

I don't think anybody should be taxed unreasonably.

My problem is your PAYE worker ( the 40k plus crowd who pay almost all the income tax) is also getting taxed heavily AGAIN on investments they make for themselves . Your DIRT, your 40% tax on ETFs deemed disposal, 33% capital gains tax, which is frankly insane, these taxes are not helping 'labour ' either .

I mean how are you supposed to get ahead then , and why is the government making standard investment vehicles like ETFs so bloody difficult to access when it would actually benefit everybody.

ZeroThreat

https://www.boards.ie/discussion/comment/121313575#Comment_121313575

I'd imagine other special interest groups such as the pension industry and property companies heavily lobby the government to make it as unattractive as possible for other investments such as EFTs lest it result in a flow of funds away from their areas.

kowloonkev

https://www.boards.ie/discussion/comment/121309423#Comment_121309423

And yet you say nothing to the guy who was claiming all retired people are entitled, don't want to pay taxes and insist on market value when selling their homes. Proof is not needed for you when it happens to be in alignment with your own small minded opinion.

maninasia

I reckon you are right because the other are almost the only game in town due to the way everything is setup.

Build affordable housing which will bring back the people we've forced to emigrate and also welcome immigrants.

crusd

https://www.boards.ie/discussion/comment/121311028#Comment_121311028

The productivity of the worker is measured by the product of the labour. Now you may feel like the overwhelming majority of that product benefitting capital over labour is fair. But it is massively disproportionate compared to 40 years ago. The system has been skewed to favour capital over labour, even though most of the value is generated by labour, and not just the labour of workers within that business but also those than support the running of infrastructure used , enabled by the investment of the capital. Balance needs to be restored either through a wealth tax on capital. My own view would be to allow major corporations to choose to settle their tax bill partially through equity. Society then becomes as much a beneficiary as capital.

Mr. teddywinkles

https://www.boards.ie/discussion/comment/121309060#Comment_121309060

Your life of servitude is most impressive. Hats off to you. Work till your crippled and hope ya die soon after penniless with nothing for your kids to pass on. Good man. The rich capitalists will love your work ethic and devotion

El_Duderino 09

https://www.boards.ie/discussion/comment/121313538#Comment_121313538

What makes you think I don't do all those things you mentioned in that post except googling mindfulness. Haven't done that in ages.

OK so your post was about desiring a TV and a phone so on? OK Dalai Lama. I suppose you've cleansed yourself of desire already. What kind of device are you reading this on?

Lol at the confidence though. Only an out of touch old person could be so confident while being so wide of the mark.

I think you might have forgotten what the topic was (it happens when you're playing an crotchety old codger on Internet forums).

El_Duderino 09

https://www.boards.ie/discussion/comment/121313673#Comment_121313673

Yeah pretty much. Except I hope to buy a house which I can sell to avoid being penniless and pay for health care at the end of my life.

Im not devoted to work. I'm devoted to things like keeping me and my family alive. What's the alternative? What's your plan?

ancapailldorcha

https://www.boards.ie/discussion/comment/121313604#Comment_121313604

So you've nothing. Thanks for clarifying.

rockdrummer4

https://www.boards.ie/discussion/comment/121310609#Comment_121310609

Hold on a minute, how are young people paying for retirement - dont we all pay PRSI throughout our working lives..?