They enjoy State pensions and perks which their children and their grandchildren won't even dream of. When their private pension funds would have been wiped out after the financial crisis their children and grandchildren bailed them out. When their savings were threatened their children and grandchildren guaranteed them. If they bought their house during a period of high taxed and high interest rates then they also bought during a period of very low prices and high inflation. Their children and grandchildren could have their own big garden to play in every day if more older people downsized.I spoke with my friend’s parents over the weekend. They live in a large house on their own and live reasonably comfortably on what I would describe as modest fixed pension incomes.
- Liam Cosgrave’s back garden; why in God’s name was a man in his 90s allowed to sit on 16 acres of zoned residential land in Knocklyon in the midst of a housing crisis? A few hundred yards away, there’s a battle going on over attempts to build on one of Knocklyon United’s football pitches!
...and the Church ...
How exactly are punitive property taxes fair? I spoke with my friend’s parents over the weekend. They live in a large house on their own and live reasonably comfortably on what I would describe as modest fixed pension incomes.
An increase in their already large property tax bill would hit them hard. Why don’t they sell up you might ask? I have asked that very question; one of their main passions is gardening and they have spent 40 years working on their garden. They don’t want to give that up, nor should they have to in my view. The purchase of the house was also funded at a time when tax rates were even higher than they are now and mortgage rates were sky-high. They also really enjoy seeing their grandchildren playing in the garden which is far larger then their kids’ gardens.
It is also relevant that the State will fill its boots with CAT when the property is inherited.
I am not convinced of the merits of targeting property taxes.
I did ask who are the real loony leftMaybe, but I believe that “wealthy” empty nesters are a soft target. There is plenty of land which should be aggressively targeted; examples would include the following:
- Montrose; forget the portion sold to Cairn. Why is tv production taking place on the most valuable land in the State?
- Liam Cosgrave’s back garden; why in God’s name was a man in his 90s allowed to sit on 16 acres of zoned residential land in Knocklyon in the midst of a housing crisis? A few hundred yards away, there’s a battle going on over attempts to build on one of Knocklyon United’s football pitches!
We should be going after the State, the State’s bedfellows, and the Church in terms of housing before we go after “empty-nesters” who’ve paid their way.
If they were PAYE the seen around 19 % of there payroll taken through PRSI from the time the started work up until around 2010In the longer term property taxes reduce house prices. They also encourage empty-nesters to move out of family homes which can then be occupied by families. The social infrastructure, particularly schools, doesn't have to be duplicated around the country as often etc.
They enjoy State pensions and perks which their children and their grandchildren won't even dream of. When their private pension funds would have been wiped out after the financial crisis their children and grandchildren bailed them out. When their savings were threatened their children and grandchildren guaranteed them. If they bought their house during a period of high taxed and high interest rates then they also bought during a period of very low prices and high inflation. Their children and grandchildren could have their own big garden to play in every day if more older people downsized.
Because he owned it.
They own it too.
Marxism solves nothing, especially crises which it itself causes.
There's something more than faintly Marxist about "targeting" assets held by a 90+ year old, more still when it is focused on a man who acted bravely and at considerable personal risk to himself to save the State from dark forces over 40 years ago.I’m not advocating Marxism (Christ, the thought of it!).
My point is that a narrative is developing around empty nesters and potential policy changes to motivate them to sell; in my view, it would make more sense to introduce policies which target assets such as the late Mr Cosgrave’s and Montrose.
If they come after Montrose today by dinner time it will be Gordon Gekko turn,I’m not advocating Marxism (Christ, the thought of it!).
My point is that a narrative is developing around empty nesters and potential policy changes to motivate them to sell; in my view, it would make more sense to introduce policies which target assets such as the late Mr Cosgrave’s and Montrose.
People seem to be getting very worked up about something that hasn't actually happened.
Again, the CBI has not called for increases to taxes on property and savings.
I Would say will do it, Just look at the cheer leaders it is a no brainer for no brainers,A signal is being sent though and a "narrative" is developing (ref Gordon Gekko) to give cover to a government who wants to do it.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?