negative interest rates are not the gift of the irish government but the ECB, they don't apply to Ireland anyway just to Germany , Netherlands and the Scandis. The tide is turning anyway on negative interest rates as the ECB started reining in its massive bond buying program lthis week as inflation is just around the corner.Corporation Tax is the most obvioius. A wealth tax, increased prsi for employers. Or just borrow it at negative interest rates.
It’s indoor work with no heavy lifting.I remember reading about Boxer Moran from Athlone (I think) and how difficult he found it after losing his seat. It was very sad to read his story. Personally have no affiliation with the man, but always thought he was hard working and a people's person. I wouldn't be a TD for all the money in China, a tough and thankless job.
O I like that old chestnut been trotted out,Also note TDs pay class K PRSI which doesn't even entitle them to jobseekers benefit when they lose their seat!
I know Boxer Moran I have voted for him in every Election and will again if he runs for election,I remember reading about Boxer Moran from Athlone (I think) and how difficult he found it after losing his seat. It was very sad to read his story. Personally have no affiliation with the man, but always thought he was hard working and a people's person. I wouldn't be a TD for all the money in China, a tough and thankless job.
It's more than ample ,my mother lives on the state pension and saves more than fifty quid per week on it , its far higher than the UK rateRaising the pension age is just another money grab from working people. Covid showed us that 70 years of age is considered vulnerable and liable to severe health problems.
Many people in low wage groups will have even lower mortality rates and won't even reach 70 years of age. The state pension is subsistence level anyway, but should be available to people at 65, or even earlier. We should be able to fund a modest retirement for our citizens at an age when they can have some level of active retirement.
We are in the midst of a pandemic which may well see a reduction in life expectancy and add another chronic illness to the spectrum. Another policy mandated by right wing freakonomics. Getting so boring.
The self-employed pay around 26.5% of payroll in AustriaWorkers face a series of PRSI hikes in the coming years to help fund a Government delay in increasing the State pension age, under new proposals.
Self-employed people will bear the brunt initially as they would see their contributions soar from 4pc to 11pc in the coming years.
The move would impact up to 331,000 people who are self-employed in the state.
Other employees will also take some of the pain from rising PRSI rates, although these would not kick in until the 2030s.
A confidential draft of the Pensions Commission’s report, seen by the Irish Independent, shows future generations of workers and employers will be hit by increases if its recommendations to fund the state pension system are adopted.
However, the reform package also comes with PRSI hikes and a state contribution to prop up the system. The self-employed would see the PSRI hikes first. Their rate would rise from 4pc to 10pc initially by 2030. It would move to a higher rate – that now stands at 11pc – before jumping another 2.4pc by 2040 and 0.1pc by 2050.
https://www.independent.ie/business...an-to-delay-raising-pension-age-40839408.html the self emoloyed pay around
It's more than ample ,my mother lives on the state pension and saves more than fifty quid per week on it , its far higher than the UK rate
When you add in the extra benefits along with the 250 per week ,it's very generous
therefore that is proof that the "non contributory" pension is too much yet the government is still going to go after the hardest workers the self employed to fund the deficit. The end result is that there will be less self employed people and more people claiming non-con pensions in a decades timeHe told me that one issue they had to deal with is many of the non-con pensions save each week out of their pension, and so build up savings that render them ineligible for the non-con pension!!!
| Weekly income band | PRSI Subclass | How much of weekly pay | Employee % | Employer % |
| Up to €100 | No contribution payable. Record under Class M | Nil | Nil | Nil |
| More than €100 | K1 | All | 4.00 | Nil |
therefore that is proof that the "non contributory" pension is too much yet the government is still going to go after the hardest workers the self employed to fund the deficit. The end result is that there will be less self employed people and more people claiming non-con pensions in a decades time
And when the SIF was in surplus it was returned to the ExchequerHowever, as the State sometimes must use taxes to top-up the SIF, indirectly you are correct.
The issue is much bigger than PRSI take and social insurance benefits. Think about overall state capacity to pay for cost of ageing. All taxes and PRSI on the revenue side, all age-related costs on the expenditure side.
If you only have unearned income, say its class S income...
would it be better to change to a different class, to avoid this shafting.
I reckon I have 32 full years stamps paid.
I know lots of people on here don't get it, but someday in the not so distant future the penny will drop,Varadkar to oppose ‘massive’ rise in PRSI for self-employed
Fine Gael leader to line out against proposal designed to offset delay in pension changeswww.irishtimes.com
As things stand, that would increase the marginal tax rate for the self-employed to 62%!!Self-employed people will bear the brunt initially as they would see their contributions soar from 4pc to 11pc in the coming years.
You should investigate how it works in every other EU country that has a social security system the difference between PAYE social security rates and the self-employed as a % of payroll is a mere one of two % less,As things stand, that would increase the marginal tax rate for the self-employed to 62%!!
Why would anybody bother working if they can only retain 38 cent in every earned euro above a certain level? Cue massive tax evasion…
What is her marginal tax rate?When she was self-employed in Germany the % of payroll going into the German social security system was around 17.5% again it was around 2% lower than the total taken from payroll if you were in direct employment,
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