Over 1 million tax payers now paying tax at the higher rate

T McGibney said:
Income equality isn't worth much to the working families who these days struggle to save sufficiently for periodic financial emergencies like health insurance renewals and car replacements and end up being ripped off by scams like PCP financing on car purchases.
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Looking at the distributional effects of wealth are probably more important when considering economic resilience. The steady increase in the share of wealth of bottom 50% is likely driven by our progressive taxation system. For this cohort we see the main drivers of that increase in wealth can be attributed to deleveraging (therefore improved resiliency).

www.centralbank.ie

The Evolution of Irish Household Wealth | Central Bank of Ireland

This behind the data publication focuses on the evolution of Irish household wealth inequality since 2013
www.centralbank.ie www.centralbank.ie

In contrast there has been a marginal increase in inequality of the same period in the Euro Area.

 
The same occurs on an income equality basis with taxation and social transfers meaningfully reducing inequality.

If calculated using market income only (i.e. employment, pension and other income) the Gini coefficient would have been 48.9%. Adding in income from social transfers, the Gini coefficient on gross income is 36.9%. Finally, after deducting tax, social insurance contributions, pension contributions and inter-household transfers paid, the Gini coefficient for disposable income is 28.0%.
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Equality of Income - CSO - Central Statistics Office

www.cso.ie www.cso.ie
 
Coincidentally, this new article from Cormac Lucey punctures much of the self-congratulatory stuff above.

Cormac Lucey

"Do not weep, do not wax indignant. Understand." - Spinoza
cormaclucey.blogspot.com cormaclucey.blogspot.com

Ireland has the highest cost levels in the European Union. Costs here are 46.4 per cent above the EU average. Spending €100 here will buy you less than 70 per cent of what it will purchase in our neighbours. That means that, in terms of what it can buy for you, €100 of output generated here is effectively worth less than 70 per cent of that same amount produced elsewhere in the EU.

In July, the Central Statistics Office published data showing actual consumption here, adjusted for prices. The chart for actual individual consumption (purchasing power standard) makes for chastening reading for those who regularly champion the Irish economic development model. Based on last year’s data, Ireland is in the bottom half of the EU league table, placed 15th out of 27 member states.

Top of the EU table is Luxembourg whose real consumption per head is running at 159 per cent of Irish levels. Slovenia (103 per cent) and Romania (101 per cent) are immediately above us while we are trailed most closely by Poland (99 per cent) and Portugal (98 per cent). Bulgaria is firmly located at the bottom of the EU table with consumption levels just 77 per cent of Ireland’s.
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Our high-tax, high-cost economy is impoverishing our citizens.
 
Delboy said:
All is not what it seems when it comes to our workforce!

An oldie but a great article still
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Looks like the issue of disability benefit is going to be changed now. Apparently they are introducing 3 tiers of disability with only the highest tier getting full disability benefit. I think that it will be a fairly lengthy and involved process .
It's obviously the case that the government has recognised that the increasing numbers of people getting this are not really disabled at all and many should be able to rejoin the work force.
it illustrates the fact that irelands Apparently low unemployment rates are not really the full picture as many people receiving benefits are not recorded in the unemployment statistics.
Also families on low incomes are getting top up payments but this encourages people to stay on low or part time jobs rather than getting higher paid full time jobs as then you are above the threshold for this payment and other benefits. But other tax payers are paying for all this through higher taxation
 
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