gnf_ireland
Registered User
- Messages
- 1,441
What is the alternative ?We vote this shower in,, so only have ourselves to blame.
I don't understand the arithmetic here. 6,400/month x 12 = 76.8k which is 70% of 2 x 55k. Where does the 49.5% tax figure come from? -- it looks like only 30%.
Apologies, I should have said marginal tax rate of 49.5% - I was quoting too quickly from the Institute of Taxation's summary findings.
I am guessing from your comment, you believe 30% is an acceptable amount of tax to pay in general on this sort of salary. I probably would agree with you on this
If a couple earning 110k is not middle by any count, can you help me in understanding who is able to purchase houses in Dublin in this climate? The average cost of a 3 bed semi is 400k odd, and assuming a 10% deposit and 3.5 times Loan to Income, they barely make the cut. Surely a couple who purchase an average sized house in Dublin are middle in some regard ???
but high speed rural broadband seems an excellent idea to me. It would mean that parts of the country which are today almost cut off from the modern economy could become realistic locations for many types of employment. No manufacturing MNC is ever likely to set up in Longford, but many services business could locate anywhere with adequate broadband.
Surely everyone wants to buy a house, even if they have no income at allIf you want to find the "middle" when it comes to housing you have to include not just all those who buy houses but also those who want to and can't.
I believe every 'population centre' should have access to reasonable speed broadband. Lets define a population centre as 500 people living in a village. This would cover a reasonable percentage of villages within the country.
The only issue would be to what degree should I subsidise the broadband for these villages?
But the bad news is that it's going to get worse
We are living in a golden period which can't continue. Corporation Tax rates are artificially high. Exports are booming. The government is paying virtually nothing for its borrowing. This is the time when we should be generating tax surpluses to pay down our national debt, but in fact, we are borrowing to run the country.
And if anyone wants high speed broadband at the top of a mountain, let them pay for it themselves.
The government appear to have no clue about the impact of robotics and automation and the impact this will have on jobs in the country. You just have to look at bank branches where the move to automation is pretty evident.
No they aren't. They are liable to income tax the same as everybody else and pay income tax at the same rates as everybody else. So you cannot say they are undertaxed. If they are, everybody with similar earnings is also undertaxed. There is no special tax regime. However, over 65s do get (a) a tax exemption of threshold of 18,000 pp and an age tax credit of 256 pp. The tax exemption threshold and associated marginal relief only benefit those on very low incomes, i.e. to 18,000 pa, so basically your parents get an age tax credit of 256 pp that others don't. It difficult to see how this can be regarded as contributing to undertaxation.My parents earn 49k approx, and pay under 10% direct taxes.
They are undertaxed compared to other countries, and compared to the benefits they get.
No they aren't. They are liable to income tax the same as everybody else and pay income tax at the same rates as everybody else. So you cannot say they are undertaxed.
If a couple earning 110k is not middle by any count, can you help me in understanding who is able to purchase houses in Dublin in this climate? The average cost of a 3 bed semi is 400k odd, and assuming a 10% deposit and 3.5 times Loan to Income, they barely make the cut.
Who is on 150-200k and cannot afford the items you mention? What are they doing with their money? That is easily possible.If a couple on 150-200k cannot afford to live in a decent neighbourhood, send their kids to creche, go on a holiday a year and generally live while saving for the future/pension, then we have serious problems in my view.
If they barely make the cut they are not trying hard enough. It will take time to save for a deposit but the couple in the scenario you present should easily be able to 'make the cut'.
While I barely know Dublin, this thing of people on good wages unable to buy houses seems like nonsense to me. Daft has 435 houses for sale with 3 or more bedrooms at the moment for less than €300,000 There is a house offered in Seskin Road in Tallaght for €290k that would go for more than that in Cork. And its closer to the city centre than Dalkey.
While I barely know Dublin, this thing of people on good wages unable to buy houses seems like nonsense to me.
....
All this talk of unaffordable homes in Dublin is just middle class kids who cannot afford to buy in the affluent areas where they grew up. Too proud to live in Tallaght, too poor to buy in Mount Merrion.
And lets say they have two kids in creche - that 2k is easily gone on creche fees. Our old creche has just increased its fees to 1200/month from September 1st...Let's say for argument's sake they are renting an apartment costing 1,800 per month (which is quite high I would imagine). This leaves them 4,700 per month which is AMPLE to save for a deposit. Saving 2k per month should be easily attainable.
Then everybody or at least all couples earning 49k are undertaxed. OK they have a 256 pp age credit, but otherwise everybody pays income tax on the same basis as everybody else. So if you believe Protocol's parents are undertaxed, everybody at this level of income is undertaxed. The 'other countries' bit is spurious; we live in Ireland, not in 'other countries'.He said they were undertaxed compared to other countries.
If you think all this talk is just middle class kids, try to buy a home in Dublin, then come back to me.
Only the top 30% of earners (on average) are net contributors.I guess my question is who is speaking on behalf of the contributors, and I know in theory it is meant to be Fine Gael, but not in practice
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?