But...but...if you want the extra income, you have to work for it.
Clearly some do, clearly some dont. Clearly some people will take the extra income, with the hardwork, regardless of the tax.
Yes, and as has been pointed out, the top 20% of earners, earn between some 50% of all income earned in the State.That's my point. The more you tax the higher paid, the less likely it is that someone will strive to earn higher incomes given the amount of effort involved! Take it to its exteme....if you were taxes at 100% on everything over 70k, nobody would bother to seek to earn 70,0001 as that (and every additional) euro would be taken from them.
What a load of biased, emotive clap-trap. People who own businesses, big or small, are no more or less concerned about society and their fellow citizens than anyone else. If you are a share holder then you are a corporate shareholder. Do you expect the employees of the businesses you part own to fawn at your feet? In fact they often own part of the business they work in (it’s encouraged by US companies). In your experience do they fawn at each others feet?
If profits are enormously boosted by lower tax rates then more taxes are raised. That’s a good thing for the state and shows we have the correct taxation policy. Are you suggesting that we raise tax rates, lowering tax take, because we want to somehow punish the success of the company? It would bring corporation tax policy philosophically in line with income tax policy I suppose.
No, some can just go on strike, Have my pension increased, have my welfare increased... but only if someone else is willing to go out and work harder just to see over half of the fruits of their hard work taken from them and given to "some".But...but...if you want the extra income, you have to work for it.
Clearly some do, clearly some dont. Clearly some people will take the extra income, with the hardwork, regardless of the tax.
Biased generalisations based on your opinion and plain old fashioned begrudgery.This isnt isolated, too many people at the top of their organizations (notwithstanding the hard work and talent generally used to get there) over value their own contribution to the performance of the business they work for. They can do this because they are in control of the wealth created by the business as a whole. They have the final say on how profits, wages increases, bonuses etc are to be divvied up. Invariably, they will take disproportionately a greater share than what they are actually worth.
For this, they should have their taxes reduced!
I will be suggesting that my kids emigrate if they are smart enough and work hard enough to put themselves in a position to earn good money. I have two friends whose children have all left well paying jobs in Ireland to move to Seattle (14% income tax with sales tax deductible from that income tax) and the UK.I see your point bigshort and I think you are probably right. But going to college, working hard and putting in the extra hours was somewhat automatic for me and my group of friends. And was encouraged by our parents. But with hindsight, I wouldn't be pushing the next generation in that direction automatically
I think we need to compete with other countries on taxation, just as we need to compete on wage costs and everything else. I know that we are a small open economy and these things matter more here than most other countries. If we can raise corporation tax and remain competitive then fine, do it. It shouldn't be an ideological decision though.My bad, when talking about profits I meant after-tax profits.
Yes, I do think there is scope to increase taxes on corporations. Dont you? Even by 1-2%?
Or do you think corporation tax is too high?
Biased generalisations based on your opinion and plain old fashioned begrudgery.
My eldest finished college this year and is now working in the US for probably twice the gross he would get in Ireland - and with much lower tax and a society that encourages and values high earners.
I think we need to compete with other countries on taxation, just as we need to compete on wage costs and everything else. I know that we are a small open economy and these things matter more here than most other countries. If we can raise corporation tax and remain competitive then fine, do it. It shouldn't be an ideological decision though.
Yes, and as has been pointed out, the top 20% of earners, earn between some 50% of all income earned in the State.
You say that like it's a bad thing.
Im no expert on American corporation tax, but isnt one of the reasons Apple et al locate here because our CT is far more attractive than CT in the US?
If it is, isnt it probably the case that personal income taxes are lower in the US?
In otherwords, perhaps the US has a more broad based equitable system than Irelands?
If you want a fair tax system in Ireland, CT is an obvious focal point, not someone on minimum wage.
For me, the issue is fairness within the income tax system, not the absolute contribution income tax makes to the overall tax take. Even if CT increased such that overall income tax could reduce and the marginal tax rate became 40%, I would still consider it unfair that low income earners paid relatively much lower tax than every country in the world. Even in the 'low income tax' US, low earners pay way more tax than in Ireland. On 18K, in the US taxes are 2,300 vs. 600 in Ireland (4,800 in Germany and 3,200 in Sweden). At 36K income, Ireland is about the same as the US (Ireland 6,900, US 6,300 Germany 13K, Sweden 8K). Above that, the US is indeed low income tax.isnt it probably the case that personal income taxes are lower in the US?
In otherwords, perhaps the US has a more broad based equitable system than Irelands?
If you want a fair tax system in Ireland, CT is an obvious focal point, not someone on minimum wage.
I think we need to compete with other countries on taxation, just as we need to compete on wage costs and everything else. I know that we are a small open economy and these things matter more here than most other countries. If we can raise corporation tax and remain competitive then fine, do it. It shouldn't be an ideological decision though.
I am utterly amazed that the people who are at the forefront of calls for better services never highlight the billions of Euro of waste of tax payers money by the State. Instead their solution is to give them even more money to waste. Why do they ignore this? Is it because their concern is just to mask their jealousy of those who are more successful than them?