Families that earn €100k are ‘struggling’

mglc021 · 04-07-2014 12:16PM #1

The finance minister's quote just boiled my blood.
WTF?
I am on mid 30's p/a and somehow I manage to pay my rent, my car tax+insurance, bills and buy food and clothes for my wife (out of work) and baby..

www.irishexaminer.com/ireland/families-that-earn-euro100k-are-struggling-274293.html

Mr. Incognito · 04-07-2014 01:13PM

Not really a taxation forum matter- Moved to AH

Nemeses · 04-07-2014 01:17PM

ugh unclickable links!

for the rest of the lazy ones here like myself

http://www.irishexaminer.com/ireland/families-that-earn-euro100k-are-struggling-274293.html

House of Blaze · 04-07-2014 01:18PM

Ah the poor wee divils!

Will we get a collection going for them?

ComputerKing · 04-07-2014 01:19PM

Many families earning this amount are struggling due to the Irish tax system.

04-07-2014 01:19PM

He added: “I don’t understand why you are not willing to put extra tax on them rather than continually hitting the lower earners.”

There already is a load of tax on them.
christ

Mr Noonan rejected the proposal, saying it would be a tax on work and therefore against government policy. If a wealth tax was introduced then young people, particularly graduates, “would up and leave”, he said.

“Somebody I know personally is relocating to Perth. She is getting double the money and half the tax. Why wouldn’t you go?” he asked.

Mr Noonan also said the move would “close down the technology industry in Dublin”, claiming workers in the likes of Google, Twitter, and Facebook would relocate. “We have to look at international comparisons, you can’t act like there is a wall around us,” he said. “Ireland has one of the most progressive tax systems in the world and there are no plans to introduce a wealth tax.”

good

SEPT 23 1989 · 04-07-2014 01:20PM

from the description of your situation you dont have serious borrowings

100k is great money if you are not drowning in massive debts

i am sure these people would swap mid 30's with you and have no debt

Celly Smunt · 04-07-2014 01:23PM

When people hear you're on 100, 000+ they tend to think you're happy out with a huge savings account.

Luckily enough I don't pay tax here due to working for a foreign company, though I would be rather pissed off handing almost half my wage over to an inept government.

When you break it down, those earning 100000 per year probably have an extra 300 over somebody working for 40000 without the enormous stress that comes with having a high paying job.

seamus · 04-07-2014 01:24PM

I think what's more relevant is his point that a family income of €100k is not in the category of wealthy that would justify imposing a wealth tax on them.

The purpose of a wealth tax is to cream off the top of unused disposable income, not to just lash (even more of) the tax burden onto people who happen to have higher incomes. Plenty of families on €100k will be struggling under their debts in the same way that some families on €30k are not.

Boyd-Barrett's claim that those earning €30k to €40k are the "real people of Ireland" belies his bigoted attitude where being Irish is about playing the poor mouth and anyone who is doing well for themselves is betraying their cultural heritage.

I would give Bertie the passwords to the country's bank accounts again before I'd let Boyd-Barrett near them.

bmwguy · 04-07-2014 01:25PM

No wealth tax? You must be joking, 52% of everything over €32,800 is taken away to be sucked into the great abyss that is the public expenditure system. There is a wealth tax already there, but it is levied on everyone at or above the average wage. Thats BEFORE property tax, motor tax, VAT, excise duties, water charges soon to come in......I'm glad I am self employed and find other methods of giving myself a lifestyle rather than through a wage alone.

Buzz Killington the third · 04-07-2014 01:26PM

It's all relative, 100k sounds like a lot but it's not really after taxes, mortgage/rent, crèche fees... Then divide it by 2 people.

Grayson · 04-07-2014 01:26PM

bluewolf wrote: »

There already is a load of tax on them.
christ

good

bollox. There seems to be an attitude amongst some people that taxing higher earners is evil.

The line directly before the bit you quoted, which you ever so conveniently left out stated

A range of tax bands on high incomes would yield €922m a year, he said, which could ease the burden on the less well-off.

So, that's it is it? Fcuk the poor and the people who earn less that 40k a year.

04-07-2014 01:28PM

seamus wrote: »

I think what's more relevant is his point that a family income of €100k is not in the category of wealthy that would justify imposing a wealth tax on them.
.

It's funny as well that BB mentions the "real people" on 40k, where a family on 100k might well be on 40 and 60. Not much of a gap there
Especially if as mentioned above you have creche fees which are usually equivalent to one person's salary

tenifan · 04-07-2014 01:29PM

I think one of the meanest things to come out of the property price bust was the government's decision to hike income tax while abolishing TRS at a time interest rates were rising.

I'm in my early 30s and on a decent household wage for a single person (no where near 100k) but have no chance of making even a small dent in my 35 year mortgage (nevermind start a pension) thanks to the tax regime.

I made a decent wage on a year abroad and for the right salary would consider emigrating again if it meant being able to afford a modest pension or the likes of house repairs down the line.

Buzz Killington the third · 04-07-2014 01:29PM

Grayson wrote: »

bollox. There seems to be an attitude amongst some people that taxing higher earners is evil.

How in the name of god can you classify 2 people earning 100k between them as high earners? Please go ahead and try to justify it...

Heathen · 04-07-2014 01:31PM

I'd love to **** in my hand and throw it at his fat head!!! Prick!

H

Valetta · 04-07-2014 01:31PM

tenifan wrote: »

I think one of the meanest things to come out of the property price bust was the government's decision to hike income tax while abolishing TRS at a time interest rates were rising.

I'm in my early 30s and on a decent household wage for a single person (no where near 100k) but have no chance of making even a small dent in my 35 year mortgage (nevermind start a pension) thanks to the tax regime.

I made a decent wage on a year abroad and for the right salary would consider emigrating again if it meant being able to afford a modest pension or the likes of house repairs down the line.

Where was income tax "hiked"?

Menas · 04-07-2014 01:31PM

A family earning 100k probably see 5k per month after tax/pension. Both parents working.
Bought a house during the boom? 2k goes on the mortgage.
2 kids in creche? 1.8k goes on the creche.
Take out 100 for tv/broadband/phone, allow another 200 for electric and gas, another 200 for VHI and you end up with 500 left over.

Yes, its a lot more than some families have to spare, but earning 100k does not mean you are rich.

Arbiter of Good Taste · 04-07-2014 01:32PM

Grayson wrote: »

bollox. There seems to be an attitude amongst some people that taxing higher earners is evil.

Where are high earners not being taxed? 52% of everything over €32,800 sounds like tax to me.

Buzz Killington the third · 04-07-2014 01:34PM

Trigger Happy wrote: »

2k goes on the mortgage.
2 kids in creche? 1.8k goes on the creche.
Take out 100 for tv/broadband/phone, allow another 200 for electric and gas, another 200 for VHI and you end up with 500 left over.

Yes, its a lot more than some families have to spare, but earning 100k does not mean you are rich.

You're forgetting food, travel expenses, clothes, and a whole lot more.

seamus · 04-07-2014 01:34PM

Grayson wrote: »

bollox. There seems to be an attitude amongst some people that taxing higher earners is evil.

And there seems to be an attitude amongst some people that high earners pay no tax. When in fact high earners pay practically all of the tax. "Sure just lump another €1bn in taxes on them there, what are they going to do about it? Leave?"

04-07-2014 01:36PM

bluewolf wrote: »

It's funny as well that BB mentions the "real people" on 40k, where a family on 100k might well be on 40 and 60. Not much of a gap there
Especially if as mentioned above you have creche fees which are usually equivalent to one person's salary

Thats the nub of the matter, where are you at in life if a family on a 100k is also paying a mortgage of say 1200 euro a month and crèche fees of say 1000 euro a month then you are not going to be well off its all relative.

On the other had if have 100k a year and have only a modes mortgage and no child-minding fees then you are no doing so bad but hardly rich.

Menas · 04-07-2014 01:38PM

seamus wrote: »

And there seems to be an attitude amongst some people that high earners pay no tax. When in fact high earners pay practically all of the tax. "Sure just lump another €1bn in taxes on them there, what are they going to do about it? Leave?"

The only thing I would counteract that with is that there are tax relief schemes but the relief is only available on tax paid at the higher rate. Film investment scheme for eg.
But that finishes at the end of this year.

kiffer · 04-07-2014 01:41PM

Only 14% of households have a gross income of 100k or higher...
Clearly that's not the middle bracket.

Sam Kade · 04-07-2014 01:45PM

Heathen wrote: »

I'd love to **** in my hand and throw it at his fat head!!! Prick!

H

Well the first part you can do anytime second part might be a bit more difficult

Valetta · 04-07-2014 01:47PM

Heathen wrote: »

I'd love to **** in my hand and throw it at his fat head!!! Prick!

H

I'm sure he thinks the world of you. :rolleyes:

Davarus Walrus · 04-07-2014 02:08PM

Deep down, I wonder if spoofers like Boyd Barrett, Joe Higgins and Mick Wallace actually believe what they spout.

flutered · 04-07-2014 02:19PM

Trigger Happy wrote: »

A family earning 100k probably see 5k per month after tax/pension. Both parents working.
Bought a house during the boom? 2k goes on the mortgage.
2 kids in creche? 1.8k goes on the creche.
Take out 100 for tv/broadband/phone, allow another 200 for electric and gas, another 200 for VHI and you end up with 500 left over.

Yes, its a lot more than some families have to spare, but earning 100k does not mean you are rich.

what about a couple on disibility, @213 per week for the two, the add the lpt, plus whathever your having yourself, no comparisson is there.

flutered · 04-07-2014 02:20PM

Davarus Walrus wrote: »

Deep down, I wonder if spoofers like Boyd Barrett, Joe Higgins and Mick Wallace actually believe what they spout.

of course they believe their own lies and spoofs, how else could they stay at it all the time.

Idbatterim · 04-07-2014 02:24PM

you know I used to think how could anyone on 100k struggle, we had an article or two in the paper about public servant couple struggling on this amount and I thought it was propaganda, it may well have been, but equally it is quite plausible. 100k as a couple is 70k gross, from deloitte income tax calculator, I made it an easy calculation with no pension deduction. With a boom time mortgage and several pay cuts and the cost of living increase, throw in child care etc, I can see how people can be left with nothing if they havent got a deal from the bank on the mortgage or restructured it. Looking at someone and saying they earn X, without looking into anything else is very black and white way of looking at things...

http://www.deloitte.ie/tc/Results.aspx

I could write all day about this and hundreds of pages have been written on it over the past few years, but they income tax system here is seriously beyond a joke, its not about fairness, its about daylight robbery to buy as many votes as possible, from the entitlement brigade, who once they have got their greasy paws on something, dont ever let go...

100k for a single person results in a net income €58.869! Rich or even "well off" LOL!

suicide_circus · 04-07-2014 02:29PM

seamus wrote: »

And there seems to be an attitude amongst some people that high earners pay no tax. When in fact high earners pay practically all of the tax. "Sure just lump another €1bn in taxes on them there, what are they going to do about it? Leave?"

Many of them wouldn't leave if they got real bang fot their buck in terms of high quality free services. But the extra billion wont create that, it will disappear into the blackhole. Those who can't or won't work will reap the benefits as the sizable lobby industry of charities and NGOs ply their trade

Families that earn €100k are ‘struggling’

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