ICTU's solution: TAX WEALTH

K-9

So this is ICTU's idea of getting €2.3 Billion of the €4 Billion needed.

http://www.rte.ie/business/2009/1202/budget2010.html


The general secretary of the Irish Congress of Trade Unions David Begg has said the Government must now choose between what he called 'continued deference to the very wealthy' or genuine support for low to middle income earners and the vulnerable.
Speaking at the launch of ICTU's pre-Budget submission, Mr Begg said new taxes on wealth could generate 'substantial new resources'. He said all the wealth in the country had not evaporated, and it must be pursued and taxed.
Mr Begg said ICTU's figures showed that as much as €2.3 billion could be raised in 2010 and more in the years ahead. He said this could come from a new top tax rate for high earners, a new rate of minimum tax for the wealthy, pursuing tax exiles and raising capital gains tax.
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Mr Begg also said that Budget 2010 would have to make job creation and protection a centrepiece. ICTU has proposed a National Recovery Bond to help the construction sector and build infrastructure.
ICTU also wants people in difficulty with mortgage repayments to have recourse to a 'NAMA-style' scheme. 'It is not good enough to bail out banks and ignore homeowners,' Mr Begg said.




Just seems to be more of this:
http://www.getupstandup.ie/learnmore/publications/congress-10-point-plan-for-national-recovery/#issuuembed


Basically no drops in wages, no Social Welfare cuts, stop repossessions, no cuts in services or pensions and extend the borrowing period!


If Carlsberg did economic recoveries.................

seclachi

K-9 wrote: »

So this is ICTU's idea of getting €2.3 Billion of the €4 Billion needed.

http://www.rte.ie/business/2009/1202/budget2010.html


The general secretary of the Irish Congress of Trade Unions David Begg has said the Government must now choose between what he called 'continued deference to the very wealthy' or genuine support for low to middle income earners and the vulnerable.
Speaking at the launch of ICTU's pre-Budget submission, Mr Begg said new taxes on wealth could generate 'substantial new resources'. He said all the wealth in the country had not evaporated, and it must be pursued and taxed.
Mr Begg said ICTU's figures showed that as much as €2.3 billion could be raised in 2010 and more in the years ahead. He said this could come from a new top tax rate for high earners, a new rate of minimum tax for the wealthy, pursuing tax exiles and raising capital gains tax.
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Mr Begg also said that Budget 2010 would have to make job creation and protection a centrepiece. ICTU has proposed a National Recovery Bond to help the construction sector and build infrastructure.
ICTU also wants people in difficulty with mortgage repayments to have recourse to a 'NAMA-style' scheme. 'It is not good enough to bail out banks and ignore homeowners,' Mr Begg said.




Just seems to be more of this:
http://www.getupstandup.ie/learnmore/publications/congress-10-point-plan-for-national-recovery/#issuuembed


Basically no drops in wages, no Social Welfare cuts, stop repossessions, no cuts in services or pensions and extend the borrowing period!


If Carlsberg did economic recoveries.................

Another fantastic short term solution, Mr.Begg is probably hoping he`ll be dead by the time every top earner in the country has fled the punitive tax rate. He also doesnt have a glimmer when it comes to economics, the wealth has evaporated, the price of houses & and land has plummeted and trillions have been wiped off stock markets.

I wonder how long it will before the EU or IMF step in...

hmmm

They will strip the flesh off the bones of what is left of this economy before they are finished.

Magical pots of wealth don't exist despite what the unions say, they know their real strategy is to hammer unmerciful taxes on anyone that dares to put in an effort in the private or public sector.

Before long we'll be back to the days where for every extra euro you earn, you get to keep 20 cents only and the unions will decide how the rest of your money is spent. It's a power game.

brianthebard

how does calling for higher taxes differ from your recent howls to cut the wages of the public sector, except that it would be fairer to the lower income workers, and affect everyone instead of just one sector?

Sin1981

THis is the same David Begg who's on the board of the Central bank,yes?!:eek:

Can I ask a question!?
Realistically, will the IMF come in?
and if they do, what will they do? Will the IMF be a disaster, worse than what we're dealing with now?

thanks.

Nody

brianthebard wrote: »

how does calling for higher taxes differ from your recent howls to cut the wages of the public sector, except that it would be fairer to the lower income workers, and affect everyone instead of just one sector?

Can you define fair please?

Today ~10% of the population pays 80% of all income tax. ~50% of the population pay no income tax at all yet you want the high earners to pay more because it is "fair"? Fair to whom? The people who already taken on by far the greatest burden or to the general population who don't pay tax at all?

If you want fair then implement a straight tax across all bands; say 20% tax for everyone no matter their income and no tax credits. That is fair tax where everyone pays the same including people on social welfare payments. Suddenly being good at your job and actually earning money is not something that the state think you should be ashamed of and pay penalty tax for. You can how ever be sure there will be a lot of crying about how unfair it is that the lower end people suddenly have to pay taxes instead of being able to have someone else pay for them instead.

FlutterinBantam

Take your rubbish theories over to Michael D and figure out how to be a lovable socialist while you swan around the globe 'solving' problems everywhere but where they are needed, in your own constituency.

Where was 'the lovable elf' when half Galway was under water?

Not a word from him.. probably over in Affie monitoring elections.


Get a grip buddy, you are being brainwashed.

K-9

brianthebard wrote: »

how does calling for higher taxes differ from your recent howls to cut the wages of the public sector, except that it would be fairer to the lower income workers, and affect everyone instead of just one sector?

Cuts in wages increases competitiveness and reduces costs. That needs to be addressed first, before tax increases.

Income levies of 2/4 and 6% have been introduced so the rich are paying more, but tax receipts are down.

Sin1981 wrote: »

THis is the same David Begg who's on the board of the Central bank,yes?!:eek:

Can I ask a question!?
Realistically, will the IMF come in?
and if they do, what will they do? Will the IMF be a disaster, worse than what we're dealing with now?

thanks.

They have come into Latvia I think. We probably are in a stronger position because of the Euro, but I wouldn't say it will never happen. They usually just slash wages in the Public Services and can do it because the Govt. is broke.

bangersandmash

This part didn't appear in the OP.

It also proposed a new levy on corporate income of 2 per cent which it said would generate €614 million in 2010.

http://www.irishtimes.com/newspaper/breaking/2009/1202/breaking71.htm

No mention of an estimate as to how many jobs the above would cost.

CityCentreMan

The rate of tax for higher earners is already in excess of 50% of income.

The number of taxpayers in this bracket is declining rapidly.

The really high earners are the folks with the capacity to generate new business, jobs for all and wealth for the economy.

The really high earners have the ability and flexibility to work wherever they want.

If they are taxed to the hilt here they will move either themselves or their taxable assets or taxable activities somewhere else where tax rates are lower (Ask Bono & U2 for advice on this!)

When they move out, the jobs, their wealth & their spending will move as well.

We will be left with a more equitable society but even less money to pay for our overpaid & underworked public service and our rapidly growing army of social welfare recipients. (No offence intended to social welfare recipients for grouping them with the Public Service)

Where do we get these people at ICTU? Unfortunately at the moment they seem to be running the country - If they lived in Berlin they would be looking for the wall to be rebuilt!!

leninbenjamin

Can the leaders of ICTU not do basic math? How will €2billion fix the current budget deficit (currently at €25billion+ if I'm not mistaken)?

Count Dooku

bangersandmash wrote: »

This part didn't appear in the OP.


http://www.irishtimes.com/newspaper/breaking/2009/1202/breaking71.htm

No mention of an estimate as to how many jobs the above would cost.

Good idea
We don’t need MNC’s here
Socialists must understand how poor Ireland is in reality

K-9

leninbenjamin wrote: »

Can the leaders of ICTU not do basic math? How will €2billion fix the current budget deficit (currently at €25billion+ if I'm not mistaken)?

100% taxes on the wealth probably. The wealthy are people over 100k, so it conveniently doesn't affect the vast majority of their members!

murphaph

ICTU/Begg wrote:

all the wealth in the country had not evaporated, and it must be pursued and taxed.

new top tax rate for high earners, a new rate of minimum tax for the wealthy, pursuing tax exiles and raising capital gains tax.

Mr Begg also said that Budget 2010 would have to make job creation and protection a centrepiece

Taxing the sh!t out of the 10% who already pay 80% of the income tax and who have the capacity to create these new jobs seems like a really stupid idea then, doesn't it Mr. Begg you idiot! Clear as a bell these people DO NOT CARE about national recovery. They ONLY care about preserving the terms and conditions of their members. If they were at least honest about that and didn't tell lies (ie, that they want recovery) I'd have more respect for them.

Count Dooku

Begg thinks that it must no high earner outside of public sector
He thinks that 15,278 high earners in public sector deserves their wages more then anybody else and nobody can cut their wages
:mad:
This how socialism works only for chosen ones

K-9

Count Dooku wrote: »

Begg thinks that it must no high earner outside of public sector
He thinks that 15,278 high earners in public sector deserves their wages more then anybody else and nobody can cut their wages
:mad:
This how socialism works only for chosen ones

Just had a look through that well presented brochure they have, (PDF not good enough for some! ) the top 5% create 40% of the wealth.

Assuming that is based on up to date figures, the top 5% already pay 50% of the taxes!

Dr Galen

and about 50% pay none.....

Flex

K-9 wrote: »

So this is ICTU's idea of getting €2.3 Billion of the €4 Billion needed.

http://www.rte.ie/business/2009/1202/budget2010.html


The general secretary of the Irish Congress of Trade Unions David Begg has said the Government must now choose between what he called 'continued deference to the very wealthy' or genuine support for low to middle income earners and the vulnerable.
Speaking at the launch of ICTU's pre-Budget submission, Mr Begg said new taxes on wealth could generate 'substantial new resources'. He said all the wealth in the country had not evaporated, and it must be pursued and taxed.
Mr Begg said ICTU's figures showed that as much as €2.3 billion could be raised in 2010 and more in the years ahead. He said this could come from a new top tax rate for high earners, a new rate of minimum tax for the wealthy, pursuing tax exiles and raising capital gains tax.
Advertisement

Mr Begg also said that Budget 2010 would have to make job creation and protection a centrepiece. ICTU has proposed a National Recovery Bond to help the construction sector and build infrastructure.
ICTU also wants people in difficulty with mortgage repayments to have recourse to a 'NAMA-style' scheme. 'It is not good enough to bail out banks and ignore homeowners,' Mr Begg said.




Just seems to be more of this:
http://www.getupstandup.ie/learnmore/publications/congress-10-point-plan-for-national-recovery/#issuuembed


Basically no drops in wages, no Social Welfare cuts, stop repossessions, no cuts in services or pensions and extend the borrowing period!


If Carlsberg did economic recoveries.................

Its so saddening that our government seemingly needs to get the apporval of idiots like him and Jack O Connor about what the budget of this country will look like.

Whats the next great idea for economic recovery? "Mr Begg has come up with a brilliant means of providing instant economic recovery that will result in more wealth for all and have no drawbacks. Basically, the government will be instructed to print off a number of €1,000,000,000 notes and distribute one note to each person in the country. This way everyone will be a billionaire and can buy whatever they want. ICTU members praised the union leader for his intellectual prowess and business acumen."

jetfiremuck

Godddddd please make it stop 'banging head on table'. This whole thing has turned into a circus.Look DOES TAXING wealthy people even more make any difference to the standard of living of the people that are calling for higher taxes. It's time for a general election. The Gov are elected to manage, they obviously can't at this stage and are not able to stand firm on anything.I think they arecdone Time to change, however the incomers will marry the existing mess no doubt

Count Dooku

I like hypocrisy of ICTU leaders

It will not be possible to achieve the consensus needed to tackle the
crisis if a person earning €200,000 continues to only pay tax at the
same rate as a person earning below average industrial earnings.
Therefore, a fair taxation system based on ability to pay a contribution
commensurate with the scale of the crisis is critical to success.

But at the same time they proposed that somebody earning 25K will have the same number of unpaid days as somebody earning 100K.

ceret

murphaph wrote: »

They ONLY care about preserving the terms and conditions of their members.

Of course. The union's are there to protect their members. Nothing more, nothing less. They have pulled off a masterful stroke of publicity in making people think that they are protecting the average little guy.