Emergency budget 2009

dafunk

I know this is not Galway specific but I'm curious as to the opinions of all of you out there about the emergency budget next week.

Brian Cowen has said that
1) Everyone is going to severely feel the pinch after the next budget
2) He realises mistakes were made in the last budget

I am not an economist but a rabid monkey with half a brain can tell that if we're taxed to the hilt that it's going to have a drastic effect on the country.

We're already becoming penny pinchers and if we've less money in our pocket then we're going to reduce how much we spend, how much we go out etc etc and it'll be only a matter of time before the shops, restaurants and other businesses go out of business leaving even more people unemployed, not putting money into the economy and taking money out in benefits.

Surely you have to spend your way out of a recession, any economists out there that can convince me otherwise?

What do the Galwegians think?

biko

If they can show me that the politicians and "fat cats" (particularly B Ahern) really feel the pinch, then I'm willing to pay a bit more tax/take a pay cut. No way in hell I'm going to pay through my nose while they sit drinking subsidised pints in the Dáil during work hours.

TD salaries must drop below 60K and adjust their pensions to a normal level. They must also not be able to have more than one job. If you're a politician you should not be allowed to simultaneously sit on company boards or similar or receive any other income at all.

This is a bit more like it:

GERMANY — Deutsche Bank AG, Germany's biggest lender, said Tuesday that the pay for Chief Executive Josef Ackermann fell 90 percent in 2008 — from €14 million to €1.9 million — as he and the company's four other top managers refused bonuses in light of the bank's losses and public anger.

SWEDEN — Bonuses have caused outrage in Sweden, which prides itself on an egalitarian society, and big companies like truck maker Volvo and the SEB bank have been forced to withdraw compensation schemes for top executives.

SWITZERLAND: UBS AG, which received a $60 billion government bailout, said in November that its chief executive, chairman and executive board will receive no bonuses for 2008. Several former top officials have declined or handed back million-dollar payments. But the says it will pay 2.2 billion francs (about $2 billion) in bonuses to lower-ranked staff.***

Zzippy

Magnus wrote: »

If they can show me that the politicians and "fat cats" (particularly B Ahern) really feel the pinch, then I'm willing to pay a bit more tax/take a pay cut. No way in hell I'm going to pay through my nose while they sit drinking subsidised pints in the Dáil during work hours.

TD salaries must drop below 60K and adjust their pensions to a normal level. They must also not be able to have more than one job. If you're a politician you should not be allowed to simultaneously sit on company boards or similar or receive any other income at all.

This is a bit more like it:

+1 to a lot of that. I think TD salaries should be 75K max, and no increments for getting re-elected, the whole ideal of public representation is gone out the window, its just a gravy train. Scrap junior ministers, extra payments for Dail committees, unvouched expenses, in fact reduce the number of TDs as well (we are over-represented by any international standard). Prohibit TDs from holding on to teacher posts and creaming off the salary+pension. Are you listening Frank? Pay realistic pensions from age 65, not from when they leave the Dail. Scrap the govt jet, all govt travel to be in economy class. I could go on....

THEN start taking the money from the rest of us. I don't mind taking extra pain when everyone else is doing it.

Thats the ideal. Unfortunately they won't do any of that. The poor and the PAYE worker will feel all the pain. Probably an income levy of 1-2% to tide us over til the main Budget when they can raise taxes. €2 on cigarettes. Increased excise duty on alcohol and petrol.
Cuts in dole and other benefits, especially child benefit. Means testing for most benefits. They will probably leave the pension alone, they're still scared of the pensioners after the medical card fiasco...

extraice

Going add more taxes r vat , less money in the system , shops and so on = less vat , less jobs , keep the fat cats going with bail out for the banks and banks wouldnt help any small companys are big , extra 10 euros on travel is not helping , less traveling ... galway dublin flight you pay tax on ( think its 4 euros ..) who whants to travel with bus are trains when never run on time ....

dafunk.....
We're already becoming penny pinchers and if we've less money in our pocket then we're going to reduce how much we spend, how much we go out etc etc and it'll be only a matter of time before the shops, restaurants and other businesses go out of business leaving even more people unemployed, not putting money into the economy and taking money out in benefits.

you said it dafunk .....back in the 90 i was lucky tw get £150 a week
now people want 75k a year ..... and wage incress .... how namy companys and people going two leveling ireland , sorry but just get half off africa over here , ha , dont that get every think free ..... frist benefits two be stopped ....
was in post office few days ago and one guy was demanding money as he was a colour that where been racist ....... there lot off benefit fraud going on here ....

bat boy

extraice wrote: »

Going add more taxes r vat , less money in the system , shops and so on = less vat , less jobs , keep the fat cats going with bail out for the banks and banks wouldnt help any small companys are big , extra 10 euros on travel is not helping , less traveling ... galway dublin flight you pay tax on ( think its 4 euros ..) who whants to travel with bus are trains when never run on time ....

dafunk.....
We're already becoming penny pinchers and if we've less money in our pocket then we're going to reduce how much we spend, how much we go out etc etc and it'll be only a matter of time before the shops, restaurants and other businesses go out of business leaving even more people unemployed, not putting money into the economy and taking money out in benefits.

you said it dafunk .....back in the 90 i was lucky tw get £150 a week
now people want 75k a year ..... and wage incress .... how namy companys and people going two leveling ireland , sorry but just get half off africa over here , ha , dont that get every think free ..... frist benefits two be stopped ....
was in post office few days ago and one guy was demanding money as he was a colour that where been racist ....... there lot off benefit fraud going on here ....

Wow, what a clear and concise argument you put forward. I'm sure the OP is grateful to you for twisting his original post into an illiterate zenophobic rant.