Should we raise or lower taxes?

[junketman]

I know the hard-left and it's supporters on this site, including a certain doctor, want the government to raise taxes to bring in more income to cover the cost of government spending. Already a levy has been imposed, VAT has been increased, and other taxes such as on fuel increased. Some are proposing a 60% tax rate on super earners over 150,000 a year.

I personally don't believe raising personal taxe rates is the way to go. As a nation we are heavily dependent on consumer spending. Virtually 100% of jobs are dependent either directly or indirectly on consumer spending. Slow down consumer spending and you slam the brakes on what's left of the economy and shove it into reverse. It's not the answer imo.

Lowering taxes might actually provide a stimulus to the economy. It means people have more money in their pockets to go out and spend in retail outfits and on other products. This would lead to job creation and the prevention of further job losses. There would be a short term fall off in tax income for the state, but in the longer term it may kickstart the economy again leading to people coming off the dole and into jobs and in turn them spending their wages and paying income tax back.

[youngdan]

It might be time to help the poor man. After all the number in that bracket are growing. Cut taxes on petrol. It is a disgrace. I paid 1.97 dollars a gallon this week. Magic Arse gets the difference and then some.

Eliminate tax on fags. Bad enough being hooked on nicotine but being robbed on top of everything else is too much.

Forget about this farse of drunk driving after 2 pints. With the crowd of young blastards on the road flying and out of their skulls on drugs a man would be crazy to face onto the road without a few brews to give him courage.

If you want taxes then put a tax on Chinese food. Most lads only ate this lard when they are hammered so they won't notice the tax because they are not able to count at closing time.

See, the budget gap is almost closed already.

[Bobert]

Lower them. Free up income for people to allow them to start spending again.

[fiannafuddy]

It might be time to help the poor man. After all the number in that bracket are growing. Cut taxes on petrol. It is a disgrace. I paid 1.97 dollars a gallon this week. Magic Arse gets the difference and then some.

Eliminate tax on fags. Bad enough being hooked on nicotine but being robbed on top of everything else is too much.

Forget about this farse of drunk driving after 2 pints. With the crowd of young blastards on the road flying and out of their skulls on drugs a man would be crazy to face onto the road without a few brews to give him courage.

If you want taxes then put a tax on Chinese food. Most lads only ate this lard when they are hammered so they won't notice the tax because they are not able to count at closing time.

See, the budget gap is almost closed already.

WTF has any of that got to do with the topic in any constructive way.

Up to €80k cut taxes. Make up the difference AND THEN SOME above that.

Cut VAT 18% and 11%

Tax of 55% on "emoluments in addition to salary" exceeding €249,999 above that level.

Remove the automatic entitlement of 3rd level undergrad students to have state funded tuition.

Slash VRT - cars are an item people WILL buy and buoy the economy.

Abolish Motor Tax and add 43.5c to petrol 50c to diesel.

Tax gambing winnings in excess of €49,999 @ 7.5% (pay for the vaccine)

This next one is my last ditch attempt to save the economy:

Bring back the tax on windows...then people could blame FF for being as bad as the effing English baxtards

[Defeated Romanticist]

So boys, where will we make up the short fall?



You tax at the rate that you spend.

Jesus Fiannafuddy. I thought you had far too much sense for this burn the rich crap.


Get rid of DIRT and bring in another version of the SSIA.

Savings necessary for growth.

[atlantic]

One of the biggest revenue payments to Government by individuals in the any off the EEC member states,is Employers and employees prsi.Ireland has one of the lowest combined employee and employe rates 18.75%.The accession states states are trying to win over FDI with flat tax but their prsi rate on gross wages are savage from 28% to 45% gross wages.
Ireland should flat tax any wage earner @20%.

[fiannafuddy]

Jesus Fiannafuddy. I thought you had far too much sense for this burn the rich crap.

I have far too much sense than to think these people will be out of work.

All the people going on the dole are likely earning less than €50k as it is. The shortfall has to come from somewhere.

SSIA was to take money OUT of the overinflated 2001/2002 economy. Makes no sense to do it now when spending is needed.

If you're making 249,999 at 47% tax then you can afford 55% above it. If it disincentivises work, the money will be re-invested rather than given in unsuitable bonuses.

It's the people at the bottom end who need cash.

I'd also make tax residency an issue.

make it "during 31 or more days" so flying out before midnight won't cut it, and cutting the amount of time required to qualify as tax resident.

I thought you'd had the sense to realise tough times call for tough measures DR.

[Defeated Romanticist]

I have far too much sense than to think these people will be out of work.

All the people going on the dole are likely earning less than €50k as it is. The shortfall has to come from somewhere.

SSIA was to take money OUT of the overinflated 2001/2002 economy. Makes no sense to do it now when spending is needed.

If you're making 249,999 at 47% tax then you can afford 55% above it. If it disincentivises work, the money will be re-invested rather than given in unsuitable bonuses.

It's the people at the bottom end who need cash.

I'd also make tax residency an issue.

make it "during 31 or more days" so flying out before midnight won't cut it, and cutting the amount of time required to qualify as tax resident.

I thought you'd had the sense to realise tough times call for tough measures DR.

*Has the beginings of an anuerism*

What's the main problem with our economy?

Credit is frozen.

How do you solve that problem?

Savings.

The govt should take a gamble on growth. Bring in another SSIA, this time over ten years offering one for three. It would cost a bomb but we have ten years to find the money. This would not deflate the economy like the SSIAs did. This would grow the whore. Put the NTPF on deposit in the banks as well. Heighten the deposit limits. Go for broke(literally).

Raising tax in this economy is the equivilant of turning the cash into fiver notes for the ESB to burn. Maybe we could give it to the pensioners to keep warm of an evening. Because it would be of dick all use.

[FutureTaoiseach]

Cut them drastically and pay for it by a pay-cut and redundancy-programme in the public-sector, rationalisation of the state-agencies, and the sale of state-assets. The govt's tax-hikes will only make things much worse. The economy is already in the frying-pan and tax-hikes constitute the fire. We need to stimulate the economy through tax-cuts. Taking money out of the economy - which the govt is doing - to pay for a pampered and inefficient public-sector is a disgraceful imposition on the 75% of us working in the private-sector. These semi-states and agencies are largely traditional FF fiefdoms, and their maintenance in the public-sector by FF is in large part designed to provide patronage for party-hacks who do their bit for the party. This is not an acceptable basis for tax-increases.

[Defeated Romanticist]

Do you have any idea how expensive it is to make a public sector employee redundant?

An extremly stupid and populist approach