"The Economy is in a Sweet Spot"

Ray Bloody Purchase · 17-04-2019 04:09PM

Your Face wrote: »

I hate these type of phrases.

It's the type of stupid phrase you'd hear from some dickweed 'live' broadcasting their manifesto on facetime whilst on the jacks.

A hollow vessel makes the most noise.

Farawayhome · 17-04-2019 04:12PM

The split between rich and poor is at a shocking level. Think how hard it is to pay for a mortgage, rent, weekly expenses etc. Now think of how hard it is to afford these things when you're earning 30k and less! There's a lot of people on 20-25k who are really struggling.

Deebles McBeebles · 17-04-2019 04:19PM

Farawayhome wrote: »

The split between rich and poor is at a shocking level. Think how hard it is to pay for a mortgage, rent, weekly expenses etc. Now think of how hard it is to afford these things when you're earning 30k and less! There's a lot of people on 20-25k who are really struggling.

You can up that number by about 10 grand.

techdiver · 17-04-2019 04:20PM

ELM327 wrote: »

I'm aware of that, however for anyone to claim that 52% of their income is taken in tax is moronic.

52% of your income above ~34k is taken.
Below 34k the rate is lower and a lot of the first 10k+ is tax free.

Hence the difference between marginal rate and effective/net rate

Agreed.

Just ranting about the low (imo) cutoff rate.

Allinall · 17-04-2019 04:22PM

Farawayhome wrote: »

The split between rich and poor is at a shocking level. Think how hard it is to pay for a mortgage, rent, weekly expenses etc. Now think of how hard it is to afford these things when you're earning 30k and less! There's a lot of people on 20-25k who are really struggling.

Minister for the bleed'n obvious.

In other news, fat people tend to eat more than others.

Neither points have anything to do with the thread.

setanta1000 · 17-04-2019 04:23PM

Farawayhome wrote: »

The split between rich and poor is at a shocking level. Think how hard it is to pay for a mortgage, rent, weekly expenses etc. Now think of how hard it is to afford these things when you're earning 30k and less! There's a lot of people on 20-25k who are really struggling.

Nobody is saying this isn't the case but they are saying that real incomes have increased:
In its latest 'Quarterly Economic Outlook Q1 2019', Ibec says per-person household income is at a record high and growing 6pc annually. That trend has been flattered by low inflation boosting the impact of wage growth.
"Since 2015, Irish households have seen growth of real income, per person, of just over 11pc cumulatively. UK households on the other hand saw their incomes fall by 1.2pc over the same period," the Ibec report said.

Farawayhome · 17-04-2019 04:23PM

Deebles McBeebles wrote: »

You can up that number by about 10 grand.

Well yes, even people on higher than that. Just think of the day to day struggle for those on 20k though.

Farawayhome · 17-04-2019 04:24PM

Allinall wrote: »

Minister for the bleed'n obvious.

In other news, fat people tend to eat more than others.

Neither points have anything to do with the thread.

People always go on about the squeezed middle, it's the lower income earners who are really struggling.

Cordell · 17-04-2019 04:26PM

Farawayhome wrote: »

The split between rich and poor is at a shocking level.

The split between the poor people of the world and the poor in Ireland is even more shocking.

Deebles McBeebles · 17-04-2019 04:32PM

Farawayhome wrote: »

Well yes, even people on higher than that. Just think of the day to day struggle for those on 20k though.

Oh yeah, I'm not disagreeing. Just pointing out that even the "average industrial wage" earners are struggling now too.

Farawayhome · 17-04-2019 04:33PM

Cordell wrote: »

The split between the poor people of the world and the poor in Ireland is even more shocking.

Yes and then think of the gap between the poor in the world and the rich in Ireland!

Farawayhome · 17-04-2019 04:35PM

Deebles McBeebles wrote: »

Oh yeah, I'm not disagreeing. Just pointing out that even the "average industrial wage" earners are struggling now too.

And we hear nothing about it. These people have no voice. Those in the Dáil who say anything about it are dismissed as loony lefties. Instead, we hear constant moaning about the squeezed middle. Truth is that they are living the high life compared to many in this state.

devlinio · 17-04-2019 04:37PM

The economy is booming though. Irelands a great place to be atm.

Idbatterim · 17-04-2019 04:45PM

downtheroad wrote: »

It is very unlikely that you pay an effective tax rate of over 50%

did I say I paid an effective rate of FIFTY percent, I said the marginal rate of tax over the pittance of around 35,000 is 50%! You can tell when someone else doesnt pay it. You think they should come and take more than the fifty percent do you?

Ive employees who wont work extra hours because of it and they are right. I wouldnt either! Its a real "win" though, an alleged pro enterprise and work party, hitting the working poor with that farce of a rate...

17-04-2019 04:47PM

Blueshoe wrote: »

I hope so

WTF why??? are you on the labour or something?? or an undertaker???

ToddyDoody · 17-04-2019 04:59PM

Del.Monte wrote: »

Heard this incredible statement on RTE (could have been Newstalk) this morning. Does this fool live in the same country as me?

I remember years ago

The man from Del Monte says no.

Assetbacked · 17-04-2019 05:03PM

Home owners have benefitted in recent years whereas renters have suffered more and more the past few years meaning that any talk of a slowdown will decrease new jobs and will allow the housing market to pick up its stock. This will benefit renters. Therefore, for renters, it is great news to hear of a slowdown in growth!

lawred2 · 17-04-2019 05:11PM

Del.Monte wrote: »

Heard this incredible statement on RTE (could have been Newstalk) this morning. Does this fool live in the same country as me?

I remember years ago somebody in the audience on the Late Late Show stated that we used to have a country now we have an economy.

Whatever the fool mean this morning, this is my reading of how our country/economy is today (outside of certain parts of south County Dublin)

The drugs and crime situation is out of control.

Rural Ireland has been hollowed out on the population/employment/retail front.

We continue to fail to meet our greenhouse gas targets.

Near full employment - as promised for some years now - whatever it means in a world of massaged and incorrect figures. What sort of jobs?

Numerous HSE fiascoes - cervical scandal, trollies, waiting lists, National Childrens' Hospital....

Homeless crisis.

Impossibility for many people in good employment to buy a home.

BREXIT/Dissident threat/Border Poll and the potential consequences.

FAI scandal.

Thornton Hall Prison - whatever happened there?

e-voting machines - forgotten but not gone away.

and more and more and more.........

If it wasn't for my children being in Ireland, Guinness and Irish rugby I would be gone. Surely I'm not the only one offended by "The Economy is in a sweet spot"? :mad:

this is the online equivalent of my folks coming to Dublin, tut tutting and saying "no recession around here hai" - as if there's technically a recession anywhere. Having a crap time of it personally does not mean a recession.

seriously absolutely nothing in that post has anything to do with the strength or health of the Irish economy.

just a load of party political moans...

no doubt you'll be out on the beat for some FF hack in the next while.

dxhound2005 · 17-04-2019 05:22PM

If anyone knows a time in the past to which they want the economy to "recover" to, please post the year.

Geuze · 17-04-2019 05:27PM

downtheroad wrote: »

It is very unlikely that you pay an effective tax rate of over 50%

The poster mentioned a marginal income tax rate of 50%.

The poster did not mention an effective tax rate.

Many, many workers face 50% approx MTR on incomes over 35k approx. That is crazy.

beejee · 17-04-2019 05:28PM

A car with a great engine may be cool.

The same car, missing a wheel, no brakes, dodgy seat belts and no suspension is rubbish.

The engine bombing along actually makes it more dangerous, adding greater risk to all the flaws.

blanch152 · 17-04-2019 05:29PM

Geuze wrote: »

The poster mentioned a marginal income tax rate of 50%.

The poster did not mention an effective tax rate.

Many, many workers face 50% approx MTR on incomes over 35k approx. That is crazy.

The poster did mention an effective tax rate:

Idbatterim wrote: »

Splinter is a magician, he has hundreds of thousands of working fools tricked into buying, that he actually represents the "early risers" interests :rolleyes: E1.50 a week usc reduction for a worker on E1.50 on roughly 34,000 a week the last few budgets. You have to be on 55,000 a year, to get the fiver that our industrious welfare wasters gets. Rocketing property costs. The latest idea of turning us into a nation of lifelong renters must be Splinters boyhood wet-dream come true! the most important thing, a roof over your head and security / stability, and they are doing their best to turn us into a nation of renting serf wh0res to the likes of Kennedy wilson.

Go collect your gold star from them you RAT vardadkar! I dont doubt the economy is growing, but dont tell me for a second that things are improving for all working people. Many of my mates and myself, living standards are going down, when you factor in the ridiculous cost of property!

You can take in many of your blinkered supporters with your spin and propaganda you narcissistic, sociopath fraud! But years of being lied to and many people wont be fooled another election!

Op you forgot to mention the biggest scandal, working people forking out over FIFTY percent of their income, paying a FIFTY percent marginal rate and getting SFA back, except to hear from the bleeding heart fool Joe Duffy and RTE, about how hard it is living on the worlds most generous welfare scheme and being homless put up in the likes of the Gresham, which working idiot would pay several hundred a night for!

Now dont get me wrong, I have compassion for many of the homeless! But is anyone interested in the "homed" working poor?

It was a pure rant.

Gimme A Pound · 17-04-2019 05:32PM

Farawayhome wrote: »

The split between rich and poor is at a shocking level.

Well of course - they are polar opposite situations.

Idbatterim · 17-04-2019 05:32PM

blanch152 wrote: »

The poster did mention an effective tax rate:

It was a pure rant.

forking out a FIFTY percent marginal rate over a pittance, sorry, there is my clarification!

Geuze · 17-04-2019 05:32PM

Idbatterim wrote: »

Op you forgot to mention the biggest scandal, working people forking out over FIFTY percent of their income, paying a FIFTY percent marginal rate and getting SFA back, except to hear from the bleeding heart fool Joe Duffy and RTE, about how hard it is living on the worlds most generous welfare scheme and being homless put up in the likes of the Gresham, which working idiot would pay several hundred a night for!

To all those saying that this poster referred to 50% effective tax rates, please see how they actually referred to the marginal rate of approx 50%.

OK, the earlier clause in the sentence seems to suggest that the writer first refers to a 50% effective rate, it could be read that way.

Wildly Boaring · 17-04-2019 05:33PM

Handy how IBEC report says we all have enough pay

Arghus · 17-04-2019 05:33PM

I'm no economist, but the more I read about how the boom times are back and all that, the more I get deja-vu back to the days just before the arse fell out of the economy last time around.

I hope I'm wrong, but we were heavily reliant on factors in the past that left us badly exposed when the music stopped and we're still heavily reliant on certain things today - except this time it isn't construction and cheap credit, more a case of multinational investment and favorable taxation policies - we wouldn't want to get self-satisfied just yet.

Geuze · 17-04-2019 05:37PM

One thing that doesn't get enough attention is the excessive price level.

Prices are too high in Ireland relative to incomes.

Farawayhome · 17-04-2019 05:47PM

Aranza Tart Swordsman wrote: »

Well of course - they are polar opposite situations.

The gap is widening!!

EmmetSpiceland · 17-04-2019 06:24PM

Who, or what, is “Splinter”?

"The Economy is in a Sweet Spot"

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