What Will happen when Generation Rent Retire?

I'm not insulting you. You posited a bonehead idea that will drive hundreds of thousands into poverty and think you'll get a tax cut off the back of it. The opposite outcome is inevitable.

I merely called what is a dummy idea by its name.

The tax wedge on average workers has been covered to death on other threads, we actually sit in the middle of EU countries in the manner in which we tax the vast majority of workers despite your unfactual posting.

The average worker is not "an abstract idea"

The data is there, we are bang in the middle of the EU in terms of how we tax labour for the middle income distributions in our economy, which is the vast vast majority of the labour force is clustered.

Where the upper income strata make away like bandits is the very low levels of property tax (and next to none on hoarded undeveloped land), which is where the real wealth in the country is locked away. Now there's an area of tax divergence you could explore in comparison with peer countries. They've cut themselves a good deal, as most true high worth individuals aren't taking a salary like you or I.

Easier to take a bungled potshot at lower income groups though. You've been had, Herr.

Again, this is gooblydeegook.

I have no idea where you're going with your notional 5k flat tax.

We are not a high tax economy relative to other EU countries for the vast majority of workers. The data is there. We sit right in the middle of EU peer countries. You're the one bringing Germany, Netherlands et al into the equation. Your arguement doesn't stand up when the facts come in, probably time to swallow it.

Look, I don't really give a sh*te what you earn. You've obviously got it in your head that it's low income workers to blame when you see your pay slip deductions at the end of each month.

Have at it, you're looking in the wrong places when you're seeking to point the finger. And you are pointing the finger.

There's no fixing this.

I've said it a million times and I'll say it a million more, this is a collapsing pyramid scheme. It was always going to break.

You're not going to tweak a tax system to fix it, you're not going to alter an interest rate to fix it, you're not going to "go all in" to fix it.

Look at the airport situation. Look at the housing situation. Look at the staff situation. Look at the migration situation. Look at the education system with increasing drop-outs. Look at the healthcare system groaning under pressure.

I ordered a shirt online two weeks ago. Was told it was "dispatched". Got an email this morning, "due to staff shortages, your order hasn't been shipped yet."

The whole system is breaking in real time. Pyramid schemes break. Maybe when we pull ourselves out of this collapse in 6 or 10 years we will have learned lessons about sustainable economics and sustainable societies.

With all the vast amounts of money going around we should have impeccable this, state-of-the-art that, water systems, infrastructure, healthcare, education, facility. We don't.

Conspicuously, despite all the money being spent, there's sweet FA to show for it. Billionaires have their wealth doubling and tripling, corporations with booming profits. Meanwhile, in a recent report, 1 in 5 people are living below the poverty line in ireland now.

The money is gone, and there's nowt to show for it. The population has increased dramatically, but for what? It has been a con job, scam city.

Not within the studies.

But for a crude calculation, the PWC tax calculator is useful. For isntance, before pension contributions (which reduce tax burden further) an earner on 250k is subject to an effective taxation rate of 46.4% (paye, usc, prsi inclusive). Bearing in mind people in this position are maxing-out voluntary pension contributions to bring that down further, you'll have a hard time convincing me they're overtaxed in the grand scheme of things and in comparison to other wealthy EU countries.

https://www.pwc.ie/issues/budget-2022/income-tax-calculator.html

I still don't have the violin out for someone on 250k tax-wise in Ireland. For context, they are the top 1 percent of individual earners, and their tax burden maxes out at 46 percent, and that's if they're stupid about it.

They are not overtaxed, in the Irish context or the broader European context.

I get you. More to the point of this being how the world works in general, it's far more accurate to say "this is how the world right now does NOT work".

The main problem is that housing was turned into a speculative market. Bad idea. Don't touch the necessities of life or you'll reap a whirlwind of pain.

Even if you happen to be on the positive end of the housing situation, accruing the crazy rents (tax aside), it's great until your children have to move out on their own and then they have to spend that same money.

If you're on the negative end of the housing situation, goodnight.

All told, commodifying housing, selling off national housing, giving it away on an international scale...totally a net negative. Nothing is produced, nothing is created, all you've got are a small bunch of speculators that will leg it with the proceeds when it collapses, leaving everyone else holding their dicks looking out windows.

Or, a pyramid scheme.

Again, just a quick glance around the country and you see that for all the eye-watering money involved in housing, billions, trillions even, there is nothing to show for it. There won't be anything to show for it, either.

Again you're circling back to lower wage workers as if slapping someone on 20k with a 5k tax bill is going to magic up a new society without severe consequence for poverty rates, and you get to toddle down to the dentist for a new set of veneers on the public dime. Harebrained stuff.

You'll also have to accept that German goodies come with commensurate higher taxes on middle and higher earners than Ireland.

You already bellyache about your tax bill which unless you're a secret CEO, likely doesn't trouble the mid-30 percentages in effective tax god help you, so something tells me you don't have the stomach for outcome 1. either.