They pay the same rate, but a lot less tax. We can't afford to have a tax system based on begrudgery. So we need to ignore the bleating and push forward. Or educate the bleaters as to how we'd be all better off in this scenario, just as we are with the corporate tax rate.The idea has certain merit but can you imagine the bleating that would happen if someone on €30k was paying the same tax rate as someone on €150k.
Sorry that I don't have a link to the article - maybe someone could post one if they can find it?
I have always wondered why such a system is not used. By having one rate it makes it easier to administer and if you need to raise tax income it is easy to calculate what each percentage point rise would bring in.
As Sunny has said, if it was implemented, it would result in lower paid paying more tax than they do already and higher earners paying less. I can't see any government introduce it.
Certainly not in all cases. It has been well reported that many high earners pay little or no tax, so the 12% would actually be an improvement.it would result in lower paid paying more tax than they do already and higher earners paying less.
Certainly not in all cases. It has been well reported that many high earners pay little or no tax, so the 12% would actually be an improvement.
The idea that "many" pay little or no tax has been exposed as untrue in a factual manner in a thread you posted in, and yet you continue to post the same thing over and over again.
Certainly not in all cases. It has been well reported that many high earners pay little or no tax, so the 12% would actually be an improvement.
Are you sure about this? Is this the way flat rate taxes are implemented in other countries, with other taxes added under different names?3) It is for income tax only and not PSRI or the levies (USC). These would add a further 11% in most cases bring the figure up to 27%.
I love the way the people who came up with this tax system threw the name 'progressive' on it just to make it sound good. Flat rate tax supporters should refer to it as 'super brilliant'! Progressive is just a word. 'Unfair' is another word that could be used to describe it. 'Counter productive' or 'Anti Work'. And I agree with your last point:I think most people will agree that taxes should be progressive i.e. some form of higher rate on higher incomes because the high earners can afford to pay higher rates without a similar drop in living standards.
We should give a flat rate tax a go in Ireland, because low taxes are the only thing that have been successful in this country. Let's do for people what we've done for industry, and get this country working again.I also think people need to see that when marginal rates are above 50% there is a serious negative incentive to putting in effort that will harm society as a whole. That's the same whether you are on €30k or €300k.
I guess the story about effective tax rates of between 0% and 10% for some of individuals earning between €250,000 and €500,000 per annum was just fiction then;
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He argued that we would attract the best and brightest from all over Europe to come and live here, just as we have attracted the top multinationals.
I guess the story about effective tax rates of between 0% and 10% for some of individuals earning between €250,000 and €500,000 per annum was just fiction then;
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Prior to 2007 there was no restriction to the amount of capital allowances that someone could claim.
In 2007 there was a restriction on the amount of allowances an individual could claim this restriction worked by restricting the claim to 50% of the income or €250,000.
So some one with €300,000 in income could claim €250,000 in allowances so they would pay say €12,000 in tax therefore 4%. So its not fiction.
In 2010 the restriction means a max claim of €80,000 or 20% of the income. So the same person would be taxed on €220,000 or €80,000 in tax therefore 26.66%
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