A broad tax base would be more stable. We're overly reliant on corporation tax.
No broadening the tax base is not merely about the total amount of revenue. It is the difference between a diverse and concentrated asset portfolio
I agree, it is not merely about the total revenue. It is about the total revenue generated from a diverse and concentrated asset portfolio.
But adding additional sources of revenue could inadvertently reduce total revenues overall.
No economist would agree that adding additional sources of revenue that subsequently reduced overall revenue streams equated to broadening the tax base.
It has nothing to do with overall revenue going up or down.
No, broadening the tax base is broadening the tax base. You may not like it but that's what it is. Charging the same people/sources more tax is not broadening.I understand the point, but in my view 'broadening' and 'deepening' is simply splitting hairs.
Limiting the definition of broadening the tax base to;
is incomplete.
For what purpose would a government want to broaden the tax base?
Obviously to raise additional revenues, correct? Those additional revenues can serve to provide additional services, or can be used to reduce tax rates on other sources to provide a more equitable tax system.
Additional sources of tax revenue can also be punitive. They can inadvertently have the opposite effect to raising revenue and instead reduce revenue streams - for what purpose is broadening the tax base through increasing the different sources then?
There is little to be gained from broadening the tax base if the knock on consequences on the total value of revenue streams are not considered.
Less tax from more people would be more stable then more tax from less people
You need to do quite a lot of reading up on who pays what when it comes to prsi,all of the prsi collected under class s including all collected under earned income landlords and so fort covers only 23% of the money paid out to cover s class pensions you and your employer pay the other 77%,Get pensioners to pay the full rate of PRSI; they didn't make enough contributions to pay for their pension during their working life so why stop when they are retired?
Get pensioners to pay the full rate of PRSI; they didn't make enough contributions to pay for their pension during their working life so why stop when they are retired?
The average person pays about €30 a week in PRSI. That contributes towards pensions, disability and many other forms of welfare. Therefore the contribution towards the state pension is maybe €10 a week. Including employers PRSI that could be €30 a week. To fund a €13,000 a year pension you'd need to be contributing about €255 a week for 40 years. source. I'll say it again; the average person comes nowhere near funding their own State pension. You would have to earn an average of €320,000 for 40 years to pay enough PRSI to contribute an average of €255 a week in total PRSI payments and given that only a small proportion of that goes towards the State pension you still wouldn't be funding it.You need to do quite a lot of reading up on who pays what when it comes to prsi,all of the prsi collected under class s including all collected under earned income landlords and so fort covers only 23% of the money paid out to cover s class pensions you and your employer pay the other 77%,
More than any other group in Ireland you're the guys that caused the last recession and suffered least as a result.Most of us pensioners worked through recession after recession; recessions became normal to us. So much so that the last recession in our eyes was a doddle.
No you didn't; see my last post.If you've worked continuously from your teens until you're 65 you've earned your pension.
No, you're getting it from those now in the workforce. I may be lucky enough to get the same. If so I'll say "thank you" to the young people who are funding the pension I didn't earn.Nobody's gettin' a silver spoon from me.
Charging the same people/sources more tax is not broadening.
Get everyone into the income tax net. Everyone should pay some tax.
Get pensioners to pay the full rate of PRSI
Make childrens allowance taxable and maybe increase it by 10%
Are you serious?This is simply charging the same people/sources more tax.
This is charging the same people/sources more tax
This is charging the same people/sources more tax.
Nothing negatively affects the value of economic activity more than taxing work. If you have a choice to work harder and/or longer but more than 50% of what you earn will be taken from you in payroll taxes that is a disincentive to work. If there is a tax on your property that is not a disincentive to work.This is the political discourse surrounding the concept of broadening the tax base. In it is insufficient.
All people are taxpayers. That some pay PAYE, others pay self-assessment, others pay tax on dividends, everyone pays VAT, some pay tax on rental income, others pay property tax, some pay high rates of USC, others pay low rates of USC, some pay motor tax, etc...etc...
It is all adjusting, tinkering, interfering, with the economic activity of an economy in order to extract as much revenue to pay for public services without negatively affecting, in the round, the value of that economic activity.
Simply defining the tax base as the number of available sources of revenue is inadequate and insufficient.
How would you define the tax base then?
Are you serious?
Do you really not understand what broadening the tax base means?
but in my view 'broadening' and 'deepening' is simply splitting hairs.
No, that's the potential tax base.The tax base is the total value of assets and income that can be taxed in an economy.
That's incorrect.Additional sources of revenue imposed that reduce that value, narrows the tax base.
Additional sources of revenue imposed that increase that value, broadens the base.
]Are we jumping the gun?
Is a grand coalition possible?
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