Hi Gerry
It's hard to get everything in during a 12 minute piece.
But the piece highlighted a few issues
The effective rate of tax on salaries of €150k is 41%
The higher paid, pay most of the taxes.
The lower and middle earners pay a lot less than their counterparts in Europe.
The programme was flagged as covering "who has lost the most due to the austerity budgets" but both Seamus Coffey and Micheál Collins reminded us that the big losers, were those who have lost their jobs.
I brought up the NERI nonsense that the bottom 10% pay the same effective tax rate as the top 10%.
Overall, I was very happy that the programme produced more information and facts than most other programmes and commentators who just talk about the squeezed middle.
The Tax Institute has published the following
[broken link removed]
For someone earning €18,000 in Ireland, they pay the lowest effective tax rate at 4.88%
The effective tax rate for someone on the average wage, is very low by comparison to our competitors.
As wages rise, the effective tax rate becomes the same as our competitors.
Brendan
Neri also wants an increase in employers’ PRSI on the portion of annual income over €100,000, from 10.75 per cent currently to 17 per cent. It said this would affect just 45,000 employees and could generate €100 million a year for the State.
They seem to have come up with a new way of raising tax
Neri also wants an increase in employers’ PRSI on the portion of annual income over €100,000, from 10.75 per cent currently to 17 per cent. It said this would affect just 45,000 employees and could generate €100 million a year for the State.
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