Social Democrats target High Earners with Alternative Budget

S

Seaniemed

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Just looking at SD Alternative Budget. See below proposal:

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I pay between €10,000 and €12,000 per month in PAYE, PRSI and USC. I have no (real) issue with doing so, as I felt at least as a PAYE worker I got the same entitlements as anyone else (tax credits).

The final monetary loss is irrelevant - its the principle. High earners should focus their support on a party that can reflect their needs - whether this be FG or FF in the longer run, it's not clear.
 
Wolframius said:
Would not this create an income cliff, where earning less than 100k is more advantageous than earning more?
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It is effectively an additional tax band. You are charged EUR 1 for every 10, so 10%.

So, if you move from 100k to 110k, then you would
* lose ~50% in for the normal tax: 5k loss
* lose 1k worth of credits: 1k loss

This is a drop of 6k out of 10k, instead of the original 5k, so marginal tax goes up by 10%.

It has the unintentional? feature that the extra band is capped. A person with 5k in credits loses then all at 150k, so no future penalty.

So, effectively, it would be a +10% rate for income from 100k to 150k (approx).

Ironically, it isn't even a fully "burn the rich" tax, since the highest earners would have the original marginal rate.
 
Seaniemed said:
High earners should focus their support on a party that can reflect their needs - whether this be FG or FF in the longer run, it's not clear.
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The implication seems to be that the only need of a high earner is not to pay any more tax?

I’m a high earner and I would not object to paying more tax if the government would focus more on my needs - better public transport, much more assertive action on the housing crisis, less window dressing and more action on environmental issues, more efficient use of public finances, far more focus on getting people out of the generational poverty trap that ultimately costs me tax money dealing with the consequences etc.

The two parties you list have been in power non-stop for nearly 100 years and I’m starting to wonder if maybe some new ideas are needed because my needs as a high earner have not been well addressed for the last decade or so.
 
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Zenith63 said:
The implication seems to be that the only need of a high earner is not to pay any more tax?
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Yeah, you got me, I don't want to pay any more tax as a high earner. I want more people to pay tax. I want low earners paying tax. I want them to worry about whether their tax euros are being spent well. I want the lower income quintiles to have a forced interest in how the state is run.

I don't want better services in return for high earners paying more tax. That's just an excuse to hit us instead of taxing the majority of people more.
We've been focusing on the generational poverty gap for ages, it's narrowing year on year.

Part of the last decade or so has been FF/FG trying to stay ahead of Opposition ideas which usually are about alienating high earners. Hopefully one party will realise that protecting our interests can return a vote share and that no matter what silly offers FG/FF make to certain quintiles of society they will never return votes.
 
A 62% marginal tax rate between 100-140k is a lot to ask.

To support this you need to believe that the people who earn 100k plus do not or did not work for it.

They were just given a salary of 120k and it has no relation to years studying, hours overtime, responsibilities, stress, sacrifices made etc.

Maybe the case for some but not for most in my experience.
 
Ireland is the most “progressive “ income tax system in the world. Socialism democrats want to go even further.
 
Almost unbelievably but sadly revealed recently 9% of households (1320/15000) on the social housing list for Dublin city council are headed by a person born in Somalia, more tax unfortunately just means more opportunity for stupid waste of our money.

How about we sort out some of this low hanging fruit before we go back and put the state's hands even deeper in our pockets.
 
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Bow tie said:
PBP at it now too:
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To be fair there is zero chance of them ever being a part of a government. I think they even said that they would be reluctant to join a government of the left.

Although I feel the SD have drifted in that direction in recent years. I would agree with them on somethings but not a 62% marginal tax.
 
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