@drpezeshkian You and your regime killing your own people? "Let the world judge"
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Just as I was addressing the American people, the head of our Strategic Council on Foreign Policy was targeted in an assassination attempt, leading to the martyrdom of his innocent wife. Let the world judge; which side engages in dialogue and negotiation, and which in terrorism?
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@carlowlad715482 @danobrien20 I completely understand the point ur trying to make I just think it's not going to help much. As all the usual triggers are missing.
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@carlowlad715482 @danobrien20 I get what ur saying but thats purely if ur thinking of that little bit more. The 1/2 grand extra. Not holistically.
I need to clear 40k so work overtime. Drop tax rate and I clear 40k so don't bother with overtime.
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@carlowlad715482 @danobrien20 Honestly the retirement thing doesn't make sense they're not working. If they did work 1st need to exceed 0%, then 20% then only 40%. They're not doing it as it stands already.
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@Koolkat6000 @danobrien20 Even semi retired people respond to bigger after tax rewards on extra work or part-time hours the 50%+ marginal rate is exactly what keeps many on the sidelines.Net immigration is broad,we still have acute domestic skill shortages that tax cuts would fix fastest.
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@Koolkat6000 @danobrien20 Record bank cash is the symptom of 50%plus marginal rates: people reach enough faster and stop chasing overtime or extra work.Cut the top rate and the bigger after tax payoff pulls more hours and workers into the market. Supply rises, tax base grows. Its the exact opposite.
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@James09959617 @AngloIrsh_Rebel @danobrien20 Assuming single income married,
Take home after taxes is approximately €52,800–€53,500 per year (roughly €4,400 per month). That's €1500 more. You'll be a lot more comfortable with that much cash extra per month.
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@Koolkat6000 @AngloIrsh_Rebel @danobrien20 If you have a family and a mortgage? Mortgage might be 24k a year, out of your net pay.
Creche fees, because you work. Even 10k (1 child)
No medical card. Dental and doc maybe 2k depending on needs
That’s 36k
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A huge share of employees in Ireland fall into the top personal (income) tax band, levied at over 50% all in. This means that the government takes more of any pay increase and additional non-salary income than the individual does. This regime, in place for 18 years, is a brutal disincentive to work and explains why Ireland's personal tax system is ranked 37th out of 38 in the developed world.
Dan O'Brien@danobrien20
Ireland's personal taxation regime is the second worst among 38 peer countries according to the Tax Foundation. High marginal taxes (paid at very modest thresholds) have been in place since 2008. There has been almost no improvement over two decades despite having the resources to do so - a relentless rise in government expenditure has been prioritised year after year. A simple example illustrates how bad it is. The average electrician or plumber working for construction company will be on the top marginal rate, whereby the state takes more of every additional euro than the person gets to keep. If he/she wants to earn self employed income, the government will take more than the worker, and a tax return will have to be filed, involving time and/or accountancy fees. Is it any wonder finding tradespeople is hard?
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@carlowlad715482 @danobrien20 If they're retired any money is 100% more, it won't drive their decision making. Emigration maybe, but doubtful. We have net immigration already.
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@Koolkat6000 @danobrien20 No, if you lower the top rate and the bigger after tax reward for overtime and self employment pulls more hours and more workers out of retirement or emigration. Supply of skills rises, shortages ease, tax base grows.
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@carlowlad715482 @danobrien20 That doesn't make any sense. The idle cash pile is a sign that it won't drive further expenditure, go look up autonomous and marginal consumption.
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@Koolkat6000 @danobrien20 High marginal income tax rates create the idle cash pile by punishing extra effort first.People don't earn more to invest when the state takes 50%+.CGT tweaks help the alreadyrich;broad personal rate cuts get workers,trades & return migrants producing.That's how grow the tax base
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@James09959617 @AngloIrsh_Rebel @danobrien20 Lol compared to 75grand 🤣. Maybe minimum wage yes, definitely not that much lol
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@Koolkat6000 @AngloIrsh_Rebel @danobrien20 Not necessarily. Between HAP, FIS and Medical card it could be a similar net income.
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@Koolkat6000 @danobrien20 Cut the top rate to 40%,people will work more, emigrants will return and skilled migrants will come, helps every industry while expanding the tax base
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If you’ve ever been to Norway you’d realize it’s a very lovely place but the people live very utilitarian lives and there is nowhere near the quality of life you find in the US. It’s a nice, basic place to live with no urban turmoil, an homogeneous culture and not a lot of sunlight…
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It’s a myth that the state doesn’t create wealth.
While a thriving private sector was important, Norway became rich through state ownership in strategic sectors, strong public education, coordinated wage bargaining, universal healthcare, and productive tax rates.
Rock Chartrand🤑@RockChartrand
Norway isn’t rich because of welfare. It’s rich because of productive industries, capital accumulation, and markets that generate surplus. The welfare state spends that surplus. Wealth is created first. Then it’s redistributed. So the claim flips cause and effect. Social programs don’t create the wealth they rely on. They depend on it.
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@carlowlad715482 @danobrien20 Lowering tax rates just makes it easier for them to not have to do overtime and they're likely to only work their hours as they have a decent lifestyle for less pay then.
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@carlowlad715482 @danobrien20 I know nurses and trades people working overtime already and earning 90k a month. Don't think it'll incentivize them much more. You have a point on that but given we have maximum employment and actual average hours worked are high, I don't see it making a wider difference
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@carlowlad715482 @danobrien20 You may be on to something there,but I don't know if that'll work in reality,Ireland is a relatively wealthy country, our ours are in line with other wealthy EU countries,I don't think money will incentivize that enough to actually make a difference.Average hours aren't that low.
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@Koolkat6000 @danobrien20 Ireland has low unemployment but severe labour shortages in trades, nursing, construction etc, HSE queues and building delays prove supply is constrained. Marginal rates still deter extra hours, overtime, self employment and skilled returnees.Cutting them increases participation.
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@carlowlad715482 @danobrien20 It quite literally takes it into account,marginal disincentive would do the opposite?Bank cash also means we're not even bothering chasing returns,that would indicate we should incentivize investment, you could make the argument for cgt reform then but doesnt mean income tax.
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@Koolkat6000 @danobrien20 “Record bank cash” ignores the marginal disincentive,50% plus on extra earnings still deters trades overtime, selfemployment and return migration. Surpluses are FDI/corp tax driven,lower personal rates grow domestic output and tax base while services improve.
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@carlowlad715482 @danobrien20 Ireland has record savings rates and record cash deposits. Our spending remains so high, we experience higher than average EU inflation. It'd do completely nothing. Just make government worse.
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@Koolkat6000 @danobrien20 Not “trickle down”it’s cutting marginal disincentives on workers’ extra earnings. Ireland’s chronic shortages despite record corp-tax surpluses and OECD top spending. US/UK irrelevant,Ireland’s data shows high personal rates deliver poor outcomes, not prosperity.
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@carlowlad715482 @danobrien20 The case for trickle down economics of the 1970's has been proven wrong at this point.been trying to condition us for last 50 yrs into thinking it's a good thing but go look at state of US & UK. People are now wealth poor and inequality is through the roof. Gdp isn't everything.
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@carlowlad715482 @danobrien20 That's not true either. Ireland is sitting on record levels of cash in personal bank accounts. The cash is not being reinvested so the case for that isn't there. Government runs surpluses. And reducing the tax take, will make spending look worse not better. It's all the opposite
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@carlowlad715482 @danobrien20 We are at maximum employment that's simply not true.
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@Koolkat6000 @danobrien20 Cutting marginal personal rates increases labor supply in trades and health . Domestic shortages shrink, tax base grows,queues fall while corp tax still funds services.Ireland already spends near OECD top per capita with dire outcomes,disincentives are the problem, not revenue.
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