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Thread: Was Austerity even tried here and what actually happened here in the last five years?

  1. #1
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    Default Was Austerity even tried here and what actually happened here in the last five years?

    Has austerity failed in Ireland or was it even tried?

    Running a deficit of 7.6% after five "austerity" budgets does not suggest that things have been austere for many. There have been cuts, some tax rises and reduction in services but there has also been:
    - huge transfers of wealth from future tax payers to senior bond holders
    - corporations paying an effective tax rate on their 70bn profits of around 6%
    - retiring public sector workers retired early on the same day with tax free pensions subsidized by workers who are junior in the public sector (and therefore paying through the nose for their own) or by 1m private sector workers who have no pension
    - 11bn of tax reliefs remain intact
    - interest rates remain very low
    - our politicians remain the highest paid in Europe
    - the social welfare wedge has remained in tact administered through over 50 different schemes
    - students will have to emigrate because we don't have any jobs for certain graduates but the State continues to pay third level fees across the board
    - instead of adding 165 to the property tax a new utility charge will be set up with its own administration, collection costs, prosecution, advertising costs with the only beneficiaries being the bureaucrats
    - Coillte, ESB, Bord Gais (with Nama and Irish Water to follow) are to be privatized and their prices are being kept artificially high to make it more investible (this country's record on privatization is very poor eg Eircom, Dublin's waste management)
    - taxes remain low relative to GDP
    - many people pay three health charges ie tax, insurance and charges on delivery
    - fee paying schools receive capital grants and their teachers are paid by the state
    - lotto grants are used as electoral slush fund to private clubs eg tennis (this stupid tax is also to be privatized)
    - incremental pay increases are only now being discussed
    - legal services bill remains a bill and the State pays half a billion in legal fees.
    - Nama is paying huge fees to professionals

    Who has been a winner from "austerity - Irish style"?

    We know who have lost.

  2. #2

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    Quote Originally Posted by Congalltee View Post
    Has austerity failed in Ireland or was it even tried?

    Running a deficit of 7.6% after five "austerity" budgets does not suggest that things have been austere for many. There have been cuts, some tax rises and reduction in services but there has also been:
    - huge transfers of wealth from future tax payers to senior bond holders
    - corporations paying an effective tax rate on their €70bn profits of around 6%
    - retiring public sector workers retired early on the same day with tax free pensions subsidized by workers who are junior in the public sector (and therefore paying through the nose for their own) or by 1m private sector workers who have no pension
    - €11bn of tax reliefs remain intact
    - interest rates remain very low
    - our politicians remain the highest paid in Europe
    - the social welfare wedge has remained in tact administered through over 50 different schemes
    - students will have to emigrate because we don't have any jobs for certain graduates but the State continues to pay third level fees across the board
    - instead of adding €165 to the property tax a new utility charge will be set up with its own administration, collection costs, prosecution, advertising costs with the only beneficiaries being the bureaucrats
    - Coillte, ESB, Bord Gais (with Nama and Irish Water to follow) are to be privatized and their prices are being kept artificially high to make it more investible (this country's record on privatization is very poor eg Eircom, Dublin's waste management)
    - taxes remain low relative to GDP
    - many people pay three health charges ie tax, insurance and charges on delivery
    - fee paying schools receive capital grants and their teachers are paid by the state
    - lotto grants are used as electoral slush fund to private clubs eg tennis (this stupid tax is also to be privatized)
    - incremental pay increases are only now being discussed
    - legal services bill remains a bill and the State pays half a billion in legal fees.
    - Nama is paying huge fees to professionals

    Who has been a winner from "austerity - Irish style"?

    We know who have lost.
    depositors got awarded 100 cent in the euro plus interest. clearly they winners given that they should have been wiped out at over 100k.

    would not be surprised to see a shrine being erected in BALLSbridge to honor Brian "Blanket Guarantee" Lenihan at some point.

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    No reference in the OP to the fact that the country was bankrupted during the Celtic tiger period by the decisions of a small number of its most powerful citizens cheer led by most of the media.

    Many of the original architects of the bust and their cheer leaders are now all over the media complaining about the 'austerity' which they caused.

  4. #4

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    Quote Originally Posted by shiel View Post
    No reference in the OP to the fact that the country was bankrupted during the Celtic tiger period by the decisions of a small number of its most powerful citizens cheer led by most of the media.

    Many of the original architects of the bust and their cheer leaders are now all over the media complaining about the 'austerity' which they caused.
    Sitting on the sidelines, cribbing and moaning ...

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    Quote Originally Posted by shiel View Post
    No reference in the OP to the fact that the country was bankrupted during the Celtic tiger period by the decisions of a small number of its most powerful citizens cheer led by most of the media.

    Many of the original architects of the bust and their cheer leaders are now all over the media complaining about the 'austerity' which they caused.
    Why would I make this point when you'd come along with your single transferable post? Besides this post is about the "cure" not the cause of our ills.

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    Too many austeriteee threads!

    It's starting to be the new "abortion".

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    Quote Originally Posted by Congalltee View Post
    Why would I make this point when you'd come along with your single transferable post? Besides this post is about the "cure" not the cause of our ills.
    I wonder if he's payed by the hour, or per post?

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    Politics.ie Member sauntersplash's Avatar
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    Quote Originally Posted by P Ryan View Post
    I wonder if he's payed by the hour, or per post?
    Actually pretty likely I would've thought.
    "No." - Rosa Parks

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    Quote Originally Posted by Congalltee View Post
    Has austerity failed in Ireland or was it even tried?

    Running a deficit of 7.6% after five "austerity" budgets does not suggest that things have been austere for many. There have been cuts, some tax rises and reduction in services but there has also been:
    - huge transfers of wealth from future tax payers to senior bond holders
    - corporations paying an effective tax rate on their €70bn profits of around 6%
    - retiring public sector workers retired early on the same day with tax free pensions subsidized by workers who are junior in the public sector (and therefore paying through the nose for their own) or by 1m private sector workers who have no pension
    - €11bn of tax reliefs remain intact
    - interest rates remain very low
    - our politicians remain the highest paid in Europe
    - the social welfare wedge has remained in tact administered through over 50 different schemes
    - students will have to emigrate because we don't have any jobs for certain graduates but the State continues to pay third level fees across the board
    - instead of adding €165 to the property tax a new utility charge will be set up with its own administration, collection costs, prosecution, advertising costs with the only beneficiaries being the bureaucrats
    - Coillte, ESB, Bord Gais (with Nama and Irish Water to follow) are to be privatized and their prices are being kept artificially high to make it more investible (this country's record on privatization is very poor eg Eircom, Dublin's waste management)
    - taxes remain low relative to GDP
    - many people pay three health charges ie tax, insurance and charges on delivery
    - fee paying schools receive capital grants and their teachers are paid by the state
    - lotto grants are used as electoral slush fund to private clubs eg tennis (this stupid tax is also to be privatized)
    - incremental pay increases are only now being discussed
    - legal services bill remains a bill and the State pays half a billion in legal fees.
    - Nama is paying huge fees to professionals

    Who has been a winner from "austerity - Irish style"?

    We know who have lost.
    Borrowing 20 billion a year to support spending is not Austerity!

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    I've instituted pretty severe personal austerity measures, does that count? It's going pretty well, I've sacrificed a few dozen hungover Sunday mornings and now I have enough money under my bed to pay my rent for a year.

    I know, I should be punished for this sort of prudence, but I did it anyway.
    "No." - Rosa Parks

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