2011 budget calculator

S

seriams

Registered User
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189
Single person earning 25,000 per annum - down 78e per month
Single person earning 70,000 per annum - down 94e per month

Need I say more?
 
I think the arguement is that the person at 70K is already paying a lot more tax than the person at 25K.
The government needs more income tax which will mean more people into the tax net and more paying at the higher rate.
 
Shawady said:
I think the arguement is that the person at 70K is already paying a lot more tax than the person at 25K.
The government needs more income tax which will mean more people into the tax net and more paying at the higher rate.
Click to expand...

Exactly the person on €25,000 is still getting 85% of their gross salary into their hand. The person on €70,000 is only getting around 63% of their gross. On a net basis, the person on €70k is only earning about €23k more than the person on €25k even though their gross salaries are €35k apart. There has to be incentive to earn money.
 

But then people on less salaries should be taxed less, not more. Otherwise it becomes more attractive to stay on social welfare than to take a low-paid job.

There will always be an incentive for people who want to earn more money
 

It's also a different picture if you take the salary up to €75,036 with removal of PSRI ceiling. Also a different picture when you account for pensions. Also a different picture when you take into account changes to DIRT.

So I suppose for the OP's original question: yes you do need to say more.
 
DB74 said:
But then people on less salaries should be taxed less, not more. Otherwise it becomes more attractive to stay on social welfare than to take a low-paid job.

There will always be an incentive for people who want to earn more money
Click to expand...

No, we just do what most other Countries do and make social welfare unattractive vis a vis getting employment.
 
DB74 said:
But then people on less salaries should be taxed less, not more. Otherwise it becomes more attractive to stay on social welfare than to take a low-paid job.

There will always be an incentive for people who want to earn more money
Click to expand...

The problem is they weren't taxed at all or not enough. This is correcting an unfair taxation system.

Summarise the deficit this way: 1/3 Bank Bail out 2/3 Public Spending. So the majority is based upon spending too much and not collecting enough tax to pay for it.
 
PWC has a simple enough calculator on their site.( we can score them out of ten on it.lol)

I think we need to remember that this is the first of four and that when you see how much extra tax you will pay, you need to add on other cuts,child benefit,petrol costs, then whenever it happens ,the property tax,water tax etc etc..
 
I think it's more like the 4th of 8 budgets!
There is 3.7 billion pencilled in for next year's budget. It is not unreasonable to expect this to rise to over 4 billion. It will be another tough one.
 
Yes, I think there has been five budgets so far. ..hard to stand the arrogance of Cowen et al..
 
Shawady said:
I think it's more like the 4th of 8 budgets!
There is 3.7 billion pencilled in for next year's budget. It is not unreasonable to expect this to rise to over 4 billion. It will be another tough one.
Click to expand...

The next few are likely to be even tougher. The low lying fruit has been picked in this budget (artist exemption, development plan, etc), the next government has the job of finding the 3.7bn from health, education, etc. So the next one is likely to hit much more people much harder.
 
I aggree Latrade.
I can't see how the 4.5 billion old age state pension bill can be insulated from any cuts in the total social welfare bill. FF just don't want to be the party to do it.
 
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