The Horseman
Registered User
- Messages
- 721
A six figure handout is not a disincentive to work. A worker will always work and those who don't won't to work won't work.33% is proportionate.
Is a 6-figure handout from a parent to a child not a disincentive to work/create wealth?
We can reward people by taxing their work less. Surely the right thing (both politically and economically) is to go and earn one's own income?
If someone wants a €110k tax relief on an inheritance from their parents when they are 60, fine.
But then let someone else claim their €110k tax relief against income in their 30s so they can buy a home.
Each person gets the benefit of the same tax relief, seems fair.
Why do you think we have generational welfare receiptents?. By and large children will have the same work ethic as their parents. Not all but most will.
OK if you tax someone less in work how do you fund it? If they use the less tax to purchase a property their family are hit with inheritance tax exactly what this topic wishes to increase.
We have a pensions timebomb and part of the answer to that is property ownership to fund nursing home care etc. Currently we have 4 workers for every pensioner where their pension is paid through current taxation. Within the next 20 yrs it will be down to two workers per receiptent.
We are heavily reliant on corporation tax and if the top 6 corporations leave Ireland we lose 20% of our corporate tax revenue.