Labour to cut standard rate of tax to 18%

[Fr. Hank Tree]

I think there's a second reason why this proposal has rattled FF. Over the last few months FFs have been spinning the line that Labour will have no choice but to do a deal with FF after the election. The main purpose of this was to discourage FG votes from completely transferring to Lab. Now that Lab has offered a tax cut, more FG votes will readily transfer to lab, neutralising the effect.

[FutureTaoiseach]

One of the most despicable aspects of Rabbitte's speech is how he presents it as some kind of "either or" scenario i.e. we will not cut the top-rate of tax but we will cut the bottom rate instead. Labour's policy on this smacks of class-prejudice i.e. tax the rich. The reality is that the rich pay the vast majority of our tax-revenues. The top 10% of earners pay 40% of the tax-take. If you tax the rich too much they will do what they did in the 80's and send their cash abroad. A mature perspective would be to cut the bottom rate at least to 18% and to cut the top rate to 40%. The class-envy demonstrated by Labour will not serve them with upper-middle-class voters in constituencies like Dun Laoghaire, Dublin South and Dublin SE. Tax cuts in both the standard and top rate have driven the Irish economy in the past 10 yrs and Labour opposed them. Are they now admitting they got it wrong (at least on the bottom rate)? If so is that not a de-facto admission that they have poor judgement where the economy is concerned, and if so, how can we risk leaving the economy to their stewardship?

[Limerick Lad]

One of the most despicable aspects of Rabbitte's speech is how he presents it as some kind of "either or" scenario i.e. we will not cut the top-rate of tax but we will cut the bottom rate instead. Labour's policy on this smacks of class-prejudice i.e. tax the rich. The reality is that the rich pay the vast majority of our tax-revenues. The top 10% of earners pay 40% of the tax-take. If you tax the rich too much they will do what they did in the 80's and send their cash abroad. A mature perspective would be to cut the bottom rate at least to 18% and to cut the top rate to 40%. The class-envy demonstrated by Labour will not serve them with upper-middle-class voters in constituencies like Dun Laoghaire, Dublin South and Dublin SE. Tax cuts in both the standard and top rate have driven the Irish economy in the past 10 yrs and Labour opposed them. Are they now admitting they got it wrong (at least on the bottom rate)? If so is that not a de-facto admission that they have poor judgement where the economy is concerned, and if so, how can we risk leaving the economy to their stewardship?

This is the kind of thinking that has the PDs stagnant in the polls they've not seen that now upper middle class voters have moved on from the "I'm all Jack" policies of the PDs to a more caring sharing compassionate Ireland where it's not all about getting more and more tax cuts from the government for themselves but now it's quality of life issues which concern them, where services work for everyone and concern for the environment they live in, hence the rise of the Greens to eclipse the PDs.

[The Trinity Politick]

FT, are you mentally retarded? Seriously now, i really mean that. Thats no excuse for that amount of ignorance.

Labour are going to be in government one way or the other and the PDs will certainly not be. Sorry about that FT. I know you really do wish the attention seeking bunch of gob*hites in the PD party could get re-elected to be as obnoxious and arrogant as they are now.

The Bourgeois party that looks after the conservative middle class voters? Give me a damn break. Poor Mick cares about the rich...aaaww They pay too much tax...aaawww...its called a progressive taxation system. Progressive as its based on the fundamental point of equality and equity. Tax should be based on your ABILITY TO PAY, not on your income. Lower income people pay less, because their standard of living is less than that of the middle to upper classes. Equality through the PDs lowering their taxes? Hmmm.......

McDowell taking credit for basically............everything......ever done by the 1997-2007 governments is really pathetic. You ever wonder why has Fianna Fail been so so quiet the past while as regards electioneering? Its because they want the PDs to sink themselves.......its so obvious you, and other PD supporters cant see it.

Sad really.....

Labour is proposing an obvious proposal squarely against the PD's who rather stupidly raised the upper tax rate when they could have proposed lowering both.

What about the 100 euro pension case rubbish? Desperation will do alot, but that isn't even costed!! You reprimanded FG and Lab for not costing their policies and then when they do , you bitch about the legitimacy of those parties to lead economic policy?

Civil servants lead economic policy not Brian Cowen or any other screwball. The PDs seem to have to have plenty of money to publish a 32 page "look how wonderful we are" newspaper supplement which goes down in history as the single most stupid, arrogant and ridiculously self centered propaganda piece in history.

You call Rabbittes speech despicable?? He never presented a "either/or" scenario, and he made that clear on the "political party" on TV3- we are a low direct tax economy and this is how it would stay. Stop clutching at straws.

Rabbitte snuck one under the radar and made you fools look rightly desperate. WELL DONE PAT RABBITTE!

[hiding behind a poster]

Are they now admitting they got it wrong (at least on the bottom rate)? If so is that not a de-facto admission that they have poor judgement where the economy is concerned, and if so, how can we risk leaving the economy to their stewardship?

But you know absolutely nothing about the economy, FT - you've proved it on plenty of other threads. But just as a reminder, the only Labour Finance Minister in the history of the state oversaw jobs growth of over 50,000 per annum, economic growth averaging 10% per annum, the first budget surplus in 25 years, inflation at half the European average, the introduction of the 12% rate of Corporation Tax..... oh, and substantial widening of tax bands and the introduction of the progressive tax credit system.

[jady88]

Are they now admitting they got it wrong (at least on the bottom rate)? If so is that not a de-facto admission that they have poor judgement where the economy is concerned, and if so, how can we risk leaving the economy to their stewardship?

But you know absolutely nothing about the economy, FT - you've proved it on plenty of other threads. But just as a reminder, the only Labour Finance Minister in the history of the state oversaw jobs growth of over 50,000 per annum, economic growth averaging 10% per annum, the first budget surplus in 25 years, inflation at half the European average, the introduction of the 12% rate of Corporation Tax..... oh, and substantial widening of tax bands and the introduction of the progressive tax credit system.

So what your saying is that Labour are a low tax party?