Interesting article on the Sunday Business Post website about a week ago. It comes from a question from Richard Boyd Barrett to Minister Noonan on the Breakdown of who pays tax in Ireland.
Some interesting stats from it. The most notable of which are:
- The top 1% of people pay 18% of all income tax, USC and PRSI we receive. The top 1 per cent of income earners pay an effective tax rate of 38 per cent. There are 21,650 people in this bracket, with average earnings of €403,000.
- The top 20% of people pay 71% of income tax, USC and PRSI we receive. The average income for this category is €100,000.
It's interesting on two basis:
1. It files in the face of the notion that the top aren't being touched during the crisis and that all tax comes from the middle class.
2. It shows how dependent we are for tax on a small number of people, who you imagine are the most mobile.
Full article here and there's a lot more in it:
The Sunday Business Post