Who has all the money which is on deposit?

S

Shelleyb

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I'm genuinely surprised by the amount of money that seems to be wafting around. People transferring theirs savings, yes 'savings' to banks outside of Ireland, people who have their mortgages cleared and don't want to part with their safely hoarded large disposal incomes, ghost estates with 5 bed houses been paid for in cash down the country, apartments on the Southside completely selling out, so maybe freezing mortgages is a bad idea so I have a better one...hey why don't we tax THOSE people, I want to know who they are. There seems to be quite a lot of them, under the radar and not paying their share.

There are three middle-aged Irish people living in my work car-park. They moved in a few months ago. They have all lost their jobs and their homes. As it was so cold this morning, I bought them breakfast but then who really cares about this kind of pathos?
 
Interest income is taxed @ 25% - maybe this should be changed and be taxed at your marginal rate?

Or are you suggesting a wealth tax?
 
So you want people who have been wise and saved their money that they have already paid tax on to pay tax on it again??
 
There are allot of people that didn't buy into the housing boom. They have been waiting for houses to come to a reasonable level. They didn't borrow beyond their means and rented when everyone was in a buying frenzy. They are waiting for the market to level off at a reasonable level i.e. three of four times the average industrial wage or they'll just buy a house in Spain and retire there.
Also if you sold a house at the peak you could be an accidental millionaire as David McWilliams has written about.
 
RonanC said:
So you want people who have been wise and saved their money that they have already paid tax on to pay tax on it again??
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Their savings are not being taxed again - the interest is being taxed, not the capital
 
DB74 said:
Their savings are not being taxed again - the interest is being taxed, not the capital
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And this is called DIRT and applies to everyone who has a deposit account.

Is this what the OP means by taxing the savings of account holders ?
 
Some of these are people who did not take out big mortgages to buy second houses and live the champagne lifestyle but who invested and saved wisely. There are plenty of these people who saw recessions before are were cautious.

Some are undoubtably those that profited from the money that people so unwisely borrowed in the boom years to finance the building trade.
 
Tax the responsible to pay for the irresponsible. It's the new vogue, and our leaders will not be happy until we are all irresponsible - because that is what they are trying to promote.
 
hey why don't we tax THOSE people, I want to know who they are
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Yes, goddamit it. We should tax people like me, who saved deposits during the boom, and give all that tax to, say, [broken link removed]to pay for her huge mortgage. That'll teach us to be responsible.
 
We have savings....yes, "saving".

We have them because:
- we have worked hard
- we have always been frugal with our hard earned cash (I reckon I'm in-vogue these days 'cos I love a bargain)
- extra cash has never equalled a buying spreed.....it has been saved
- items (car, sofa, TV) are replaced when they need to be, not just 'cos we fancy the latest greatest new model
- we have never borrowed to buy anything other than our house
- we considered buying somewhere bigger about 4 years ago but reckoned prices totally over the top, so decided not to.

We have been careful so yes, we do have saving to protect us should something happen (job loss, illness, unexpected emergency etc).
We have never claimed anything off the state and we have alway paid out fair share of tax.

......and you reckon I should be taxed/penalised for being careful and being in a fortunate position to protect our future ??

I don't think so
 
Shelleyb said:
There are three middle-aged Irish people living in my work car-park. They moved in a few months ago. They have all lost their jobs and their homes. As it was so cold this morning, I bought them breakfast but then who really cares about this kind of pathos?
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Shellyb - God bless your kind soul for bringing food to these poor people, this is an example of the human tragedy of the fall out and set to get worse as the recession deepens. Do you know if they are engaging with any of the homeless services or are these services now stretched to breaking point due to lack of funding and cutbacks.
 
canicemcavoy said:
Yes, goddamit it. We should tax people like me, who saved deposits during the boom, and give all that tax to, say, [broken link removed]to pay for her huge mortgage. That'll teach us to be responsible.
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I totally agree with you on this one canicemcavoy.

This is the same Alison O'Riordan who has been looking for sympathy from every newspaper in the land. The same Alison O'Riordan who paid [broken link removed]. The same Alison O'Riordan who would not listen to the advice given to her by her own father. And the same Alison O'Riordan who is now renting out her "spare" room for €700 a month.

Ah sure I dont mind paying to help her out
 
RonanC said:
I totally agree with you on this one canicemcavoy.

This is the same Alison O'Riordan who has been looking for sympathy from every newspaper in the land. The same Alison O'Riordan who paid [broken link removed]. The same Alison O'Riordan who would not listen to the advice given to her by her own father. And the same Alison O'Riordan who is now renting out her "spare" room for €700 a month.

Ah sure I dont mind paying to help her out
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You could add:

* The same Alison O'Riordan who belongs to one of Ireland's richest family businesses ()
* The same Alison O'Riordan whose Bebo page shows that she bought the apartment just after returning from a 9 month round-the-world trip
* The same Alison O'Riordan who while complaining that she now can't afford her mortgage, writes how her normal activities include Superquinn over Lidl, shopping in high-end boutiques and paying a grand a year for gym: (http://www.independent.ie/national-...t-hurts-to-part-with-the-pennies-2271802.html)

Making her the poster girl for a "NAMA for everyone" was a fantastic idea.
 
The OP's comment frustrates me.

I have savings and don't see why I should have to be punished for this. I am definitely "paying my fair share" as is my self employed partner who is receiving little more than the amount of unemployment benefit as a salary at the moment. We are a two person household and have one ten year old tiny car and try to live within our means, but yeah I should definitely have to suffer more because I have savings in the bank to use in the event my partner's business is no longer viable, I lose my job etc. Sorry, mini rant over!!
 
I note the OP purchased an apartment last year according to another thread. I presumed they used their savings towards this apartment. I wonder how they would feel if they didn't buy last year and now someone else was being told they were one of THOSE people who should be taxed.
 
The message I'm getting is - protect yourself from this country, because it is not your friend.
 
Maybe people are saving now because we all know the ECB will raise interest rates sooner rather than later.

if you save the extra money now, maybe you will be able to keep the house.
 
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