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Revenue figures released this week

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  • 07-05-2009 12:56pm
    #1
    glanman
    Registered Users Posts: 1,855 ✭✭✭


    I saw that the state has got €3.7 billion from income tax

    and

    has paid out €3.1 billion to social welfare.

    I dont know a huge amount about other countrys but this seems ridiculous that around 1.8 million people are paying for the 500,000 or so on the dole, pension etc... this seems a bit mad.

    One is going down, the other is going up.


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    #2
    spank_inferno
    Closed Accounts Posts: 3,892 ✭✭✭spank_inferno


    I seen the figures on the dept of finance website

    Its showing a 7.3 billion deficit for the first 4 months of the year
    This is only going to get worse later in the year when I expect the self employed tax returns for 08/09 to crater.

    they just cant get current spending under control!


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    #3
    faceman
    Moderators, Category Moderators, Arts Moderators, Entertainment Moderators, Social & Fun Moderators Posts: 16,639 CMod ✭✭✭✭faceman


    Im still wondering if the government took it into account in the emergency budget. During a recession expenditure rises are more and more people sign on.

    Therefore increasing taxes to meet expenditure rather than cutting spending becomes a viscious cycle whereby the gov will have to keep raising taxes.


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    #4
    spank_inferno
    Closed Accounts Posts: 3,892 ✭✭✭spank_inferno


    I cant believe they are so inept that they dont realise that spending will have to be slashed at some point.

    Perhaps being politicians they are leaving those measures until after the elections in June??


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    #5
    Daithinski
    Closed Accounts Posts: 279 ✭✭Daithinski


    glanman wrote: »
    I saw that the state has got €3.7 billion from income tax

    and

    has paid out €3.1 billion to social welfare.

    Thats a bit mental.

    I hope when the government do cut spending that they don't just reduce dole payments.

    There are lots of different payments and schemes that come under the umbrella of social welfare, (including payments that go to people with that have jobs, or are multimillionaires etc)

    A lot of people equate a social welfare payment as a dole payment.


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    #6
    faceman
    Moderators, Category Moderators, Arts Moderators, Entertainment Moderators, Social & Fun Moderators Posts: 16,639 CMod ✭✭✭✭faceman


    If welfare is being cut it should only be done in line with inflation.


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    #7
    ionix5891
    Closed Accounts Posts: 1,033 ✭✭✭ionix5891


    faceman wrote: »
    If welfare is being cut it should only be done in line with inflation.

    we are in deflation


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    #8
    eamonnm79
    Closed Accounts Posts: 459 ✭✭eamonnm79


    ionix5891 wrote: »
    we are in deflation

    He means deflation or negative inflation as I am sure the Americans wil call it soon:)


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    #9
    ionix5891
    Closed Accounts Posts: 1,033 ✭✭✭ionix5891


    eamonnm79 wrote: »
    He means deflation or negative inflation as I am sure the Americans wil call it soon:)

    someone also coined a termed biflation :D

    eitherway were not doing well


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    #10
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,507 Mod ✭✭✭✭johnnyskeleton


    glanman wrote: »
    I dont know a huge amount about other countrys but this seems ridiculous that around 1.8 million people are paying for the 500,000 or so on the dole, pension etc... this seems a bit mad.

    One is going down, the other is going up.

    The question is, is the country paying too little tax, or is the country paying too much in social welfare? How about a third point of view, which I subscribe to; certain parts of the country are paying too little tax, others are paying too much & certain parts of the country are getting too much in social welfare, others are getting just the right amount.

    The real comparison should be between the PRSI take and social welfare, as the PRSI is notionally the money you pay as social insurance in the event you lose your job. In reality, it's just another tax.
    eamonnm79 wrote: »
    He means deflation or negative inflation as I am sure the Americans wil call it soon:)

    There's a slight difference between deflation and negative inflation which is kinda technical and depends on how you measure things. Suffice it to say that if prices are dropping on a medium-long term basis that's deflation, but if prices are merely correcting previous inflation that could be negative inflation.
    ionix5891 wrote: »
    someone also coined a termed biflation

    Biflation is where, for example, asset prices deflate but consumer prices inflate. E.g. today house is worth €100k and loaf of bread is worth €1. Tomorrow house is worth €99k (-1%) and loaf of bread is worth €1.01 (+1%).

    Biflation theories show:
    1) how complicated price measurement is; and
    2) how no one really knows what's going to happen next.


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