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How would you do it

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    #62
    Sea Sharp
    Registered Users Posts: 2,593 ✭✭✭Sea Sharp


    I would:
    • cut dole to 150
    • cut minimum wage to 8.50
    • all public sector wages cut by 10%
    • lower VAT
    • set up some committee who's job is to trim the number of public sector employees by 5% or give useless people 4day weeks.

    Also, lower tax for rich people, to try and lure more high earners into the country


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    #63
    LoanShark
    Registered Users Posts: 949 ✭✭✭LoanShark


    Gurgle wrote: »

    Road building:
    Call a halt and re-examine.
    e.g. the M3 could be finished on one side only and become a decent N3.


    OH Yeah, Do half a job! What a way to save money!
    Considering the M3 will be tolled..and the people have suffered enough with the current N3.


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    #64
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    LoanShark wrote: »
    OH Yeah, Do half a job! What a way to save money!
    Considering the M3 will be tolled..and the people have suffered enough with the current N3.
    The entire M3 project is just an excuse for another cash-cow toll bridge - and not even a cash-cow for the state but for a private company.

    What was needed was to bypass Dunshaughlin, Navan and Kells. This would have achieved the same result but without 'justification' for tolls.


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    #65
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    GaNjaHaN wrote: »
    I would:
    • cut dole to 150
    • cut minimum wage to 8.50
    • all public sector wages cut by 10%
    • lower VAT
    • set up some committee who's job is to trim the number of public sector employees by 5% or give useless people 4day weeks.
    Fantastic thinking - and somehow making everyone pay except.... (at a guess)... you!
    GaNjaHaN wrote: »
    Also, lower tax for rich people, to try and lure more high earners into the country
    High earners are the ones who can afford to dump 30% into their pension fund (tax exempt), take part in share purchase schemes (tax exempt) and pour the rest into section 23 properties (tax relief against PAYE AND drive the property market to the sky).
    As things stand, you don't pay much more proportionally on an income of €150k compared to €50k.


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    #66
    Tipp Man
    Closed Accounts Posts: 4,025 ✭✭✭Tipp Man


    Gurgle wrote: »
    Fantastic thinking - and somehow making everyone pay except.... (at a guess)... you!

    High earners are the ones who can afford to dump 30% into their pension fund (tax exempt), take part in share purchase schemes (tax exempt) and pour the rest into section 23 properties (tax relief against PAYE AND drive the property market to the sky).
    As things stand, you don't pay much more proportionally on an income of €150k compared to €50k.

    isn't sect 23 closed now?
    share purchase schemes are far from tax exempt, please explain how you think they are??

    your last line is simply ridiculouse, here are some facts
    Earning 50k a single person takes home 36,500 so pays 13.5% deductions (PAYE, Income Levy, PRSI, Health levy but not pension levy)
    Earning 150k a single person takes home 87,700, so pays 41.5 deductions.

    On what planet is 41.5% tax not much more than 13.5% tax? some facts wouldn't go astray when peope talk rubbish about tax, its far to talk crap which above clearly is

    calculation from spreadsheet here http://taxcalc.eu/


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    #67
    Sea Sharp
    Registered Users Posts: 2,593 ✭✭✭Sea Sharp


    High earners are the ones who can afford to dump 30% into their pension fund (tax exempt), take part in share purchase schemes (tax exempt) and pour the rest into section 23 properties (tax relief against PAYE AND drive the property market to the sky).
    As things stand, you don't pay much more proportionally on an income of €150k compared to €50k.

    High earners also provide the majority of our country's income tax.
    Don't bite the hand that feeds you IMO.


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    #68
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    Tipp Man wrote: »
    isn't sect 23 closed now?
    Is it?
    Since when?
    Tipp Man wrote:
    share purchase schemes are far from tax exempt, please explain how you think they are??
    In a previous job, we had an option to use a % of salary to purchase shares and this was exempt from income tax provided you held the shares for at least 3 years. I don't know the chapter and verse that allows it but this was certainly the case up to 2006.
    Tipp Man wrote:
    your last line is simply ridiculouse, here are some facts
    Earning 50k a single person takes home 36,500 so pays 13.5% deductions (PAYE, Income Levy, PRSI, Health levy but not pension levy)
    Earning 150k a single person takes home 87,700, so pays 41.5 deductions.
    Extracted from the 2006 table you linked earlier:
    Band Total Tax Tax %
    40k-50k 8652 1119 12.93%
    50k-60k 6991 1066 15.25%
    60k-75k 8185 1398 17.08%
    75k-100k 8351 1679 20.11%
    100k-150k 7198 1725 23.96%
    150k-200k 2771 746 26.92%
    200k-275k 2193 611 27.86%
    275k+ 7619 2095 27.50%


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    #69
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    GaNjaHaN wrote: »
    High earners also provide the majority of our country's income tax.
    Don't bite the hand that feeds you IMO.
    Who are the high earners who's income all goes through the PAYE system?
    Read back over the thread, you'll find my opinion on that.


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    #70
    Tipp Man
    Closed Accounts Posts: 4,025 ✭✭✭Tipp Man


    Gurgle wrote: »
    Is it?
    Since when?

    In a previous job, we had an option to use a % of salary to purchase shares and this was exempt from income tax provided you held the shares for at least 3 years. I don't know the chapter and verse that allows it but this was certainly the case up to 2006.

    Extracted from the 2006 table you linked earlier:
    Band Total Tax Tax %
    40k-50k 8652 1119 12.93%
    50k-60k 6991 1066 15.25%
    60k-75k 8185 1398 17.08%
    75k-100k 8351 1679 20.11%
    100k-150k 7198 1725 23.96%
    150k-200k 2771 746 26.92%
    200k-275k 2193 611 27.86%
    275k+ 7619 2095 27.50%

    you have completly misread the table that i posted

    97279.jpg

    What the table is saying is that people in the 40-50k income bracket are contributing 9.35% of the total income tax take, people over 275k are contributing 17.5% of the total income tax take. This has nothing to do with the % of tax deductions that an individual on those income brakets faces.

    As I said earlier a person earning 50k pays 13.5% in statuatory deductions
    A person on 150k pays 41.5% in statutory deductions,
    Those are the facts


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    #71
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    Tipp Man wrote: »
    you have completly misread the table that i posted...
    As I said earlier a person earning 50k pays 13.5% in statuatory deductions
    A person on 150k pays 41.5% in statutory deductions,
    Those are the facts

    Misread?
    I took the numbers straight off it.
    Your table shows actual earnings vs actual tax paid.


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    #72
    Tipp Man
    Closed Accounts Posts: 4,025 ✭✭✭Tipp Man


    Gurgle wrote: »
    Misread?
    I took the numbers straight off it.
    Your table shows actual earnings vs actual tax paid.
    Read the column headings, %age of tax is the %age of the total tax take, not the %age that a person on 40-50k pays


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    #73
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    I took the band totals 'Income' and 'Tax', and divided one by the other to calculate the percentage of total income which is paid in tax by each band....


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    #74
    LoanShark
    Registered Users Posts: 949 ✭✭✭LoanShark


    Gurgle wrote: »
    The entire M3 project is just an excuse for another cash-cow toll bridge - and not even a cash-cow for the state but for a private company.

    What was needed was to bypass Dunshaughlin, Navan and Kells. This would have achieved the same result but without 'justification' for tolls.

    As somone who uses that road quite a lot, the toll would be a small price to pay..I don't give a toss who the money goes to Just as long as the road is good for driving on!


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