All true.I feel for you @solarman2022. You work hard, get your career path sorted and you earn the reward of a good well-paying job at an early age. All the classic things that society should be encouraging. Sadly, in Ireland we reward this responsible and socially beneficial behaviour with eyewatering personal income tax rates.
I’m not sure what they even mean 3% basically at 1% per annum . LVested but not exercised or what?
Help with what?
Stock incentive schemes normally benefit employees.
I think instead on focusing on what you end up with and how much other gets, you could focus on what you have and what you are doing with your money.
You have a good income but what do you plan to do with it? What do you want out of it?
If you think that some other people have it easier than you in terms of money/job, no one stop you from changing job/skills.
All valid points and I definitely need to look at changing my mindset for sure .All true.
However. We in Ireland have a system where young people, of any background, can receive an education which allows them to do the kind of work that pays well.
We have a system which delivers social peace and security.
All of this and other things taxes pay for, attracts employers to locate here, to provide the type of employment where hard working 33 year olds can earn €99k. Lots of people around the world work much harder in demanding physical jobs for a pittance, they probably wish they could pay tax.
I have no idea what this means.I’m not sure what they even mean 3% basically at 1% per annum . L
I doubt it's an easy job though earning 99k at 33, there has to be alot of responsibility or big demands.All true.
However. We in Ireland have a system where young people, of any background, can receive an education which allows them to do the kind of work that pays well.
We have a system which delivers social peace and security.
All of this and other things taxes pay for, attracts employers to locate here, to provide the type of employment where hard working 33 year olds can earn €99k. Lots of people around the world work much harder in demanding physical jobs for a pittance, they probably wish they could pay tax.
Ireland is consistently in the middle of the pack or even below average for effective income tax rates and we have a relatively progressive system. Having worked abroad in a low-tax, a mid-tax, and a high-tax country I would choose Ireland (or the high-tax one). Being nickeled and dimed in after-tax pay for healthcare or education gets old very fast.I doubt it's an easy job though earning 99k at 33, there has to be alot of responsibility or big demands.
The Irish system disincentives people like you because it takes off too much tax relative to other European countries and especially the UK.
It would be pretty funny if it turns out the OP is a doctor! But I suspect not as most doctors are not earning close to €99k at 33.You can get all the benefits of the Irish system on a much lower salary or getting benefits so why should you kill yourself working hard.
As regards the education system yes it is basically free but many people especially doctors get the education and then head off to aus or US never to return.
You the single person that stays is paying for all this
Ireland is consistently in the middle of the pack or even below average for effective income tax rates and we have a relatively progressive system. Having worked abroad in a low-tax, a mid-tax, and a high-tax country I would choose Ireland (or the high-tax one). Being nickeled and dimed in after-tax pay for healthcare or education gets old very fast.
And...However. We in Ireland have a system where young people, of any background, can receive an education which allows them to do the kind of work that pays well.
We have a system which delivers social peace and security.
All of this and other things taxes pay for, attracts employers to locate here......
I think there's a fatal flaw in the reasoning that justifies our tax system on the basis that it delivers good stuff. (Although "social peace" in return for taxes sounds a bit like a protection racket!) Undoubtedly there is a need for some tax to deliver various social goods and services. But how much tax and how much service? The two key questions though, are:It's really the high-earning dual-income households without children that see 6-figure tax bills every year who are "paying for all this", i.e. vital social safety nets to ensure that every human being is taken care of regardless of their life circumstances or economic output.
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