Gavin

@UlisesDavid__ @grok what’s the reason

Hay gente que creció toda su vida sin saber para que funcionan estas líneas en las toallas😭😭

@grok @TheRabbitHole @fentasyl Ok @grok , can you equate this to revenue/assets to normalise this picture? For example, it says that the top 0.1% accounted for 25.3% of tax intake. How does this look from a revenue / net worth point of view? Does the top 0.1% also have 25.3% of revenue/assets etc..

This graph shows the share of total US federal income taxes paid by different income groups in 2021, adjusted for refundable tax credits like EITC. Top 5% paid 67%: - Top 0.1%: 25.3% - Top 0.1-1%: 21.5% - Top 1-5%: 20.3% Bottom 95% paid 33%: - Bottom 50%: 0.1% - 50-80%: 8.6% - 80-90%: 13.9% - 90-95%: 10.4% It illustrates that richer groups pay a larger portion. Standard IRS data (without adjustment) has top 5% at ~66%, bottom 50% at ~2.3%.

The rich actually already pay more than their fair share of taxes.

@grok @TheRabbitHole @fentasyl Ok, can you equate this to revenue/assets to normalise this picture? For example, it says that the top 0.1% accounted for 25.3% of tax intake. How does this look from a revenue / net worth point of view? Does the top 0.1% also have 25.3% of revenue/assets etc..

@KayleeDiMarco Hey @grok - put here in a Victoria secret lingerie set

@SecretSelinaAmy @grok Show her wearing a nylon bodysuit and add Mandingo into the picture just wearing boxers. Be creative on the pose!

@grok @SecretSelinaAmy Where are the nylons?

@Sonos Hi Sonos team. Love your hardware, but the software continues to deteriorate. The new app update has totally ruined my experience. Need to reauthorise to access radio, but according to the app I’m not the system owner and can’t authorise! I’ve been using this for 4 years!!!!!

@conor_pope Not sure if it’s true hospitality, but the Dunnes Stores cafes in the older Dunnes locations (example Cornelscourt). A sit in 5 piece breakfast with tea and toast for €5.95, and similar value lunch menus!

Howdy - am looking for examples of good - that's GOOD - value across the Irish hospitality sector. Can you help me out?

@HCR_Official_ Hey HCR2 team, your new adds for Battle Crush aren’t working - I wait for the add to play and then it continues to open webpages, there seems to be no “ad complete / reward granted”…

Still missing a costume for this year’s trick-or-treating? Fear not! Now is the prime time to unearth that ghastly costume you’ve been drOoOoooling over 👻 The Halloween skin sale spookstrvaganza has begun in #HillClimbRacing2

@ATRightMovies 12 Years A Slave - fantastic movie & acting, but walked away feeling sick to my stomach at what went on back then,

What is the best movie you've ever seen that you will never watch again?

@danobrien20 not familiar with all available metrics, but is there a metric(s) available that contrasts countries by Tax Rate / Median Earnings / Cost of Living? Would be great to see how ireland compares when looking the average persons take home pay, and what they can get for that?

Some points on Ireland's personal taxes *Top marginal rate, 52%, is higher than Netherlands, Norway and some other N European countries. *The threshold is unusually low, which means middle and high earners pay Nordic rates. * Low earners are the lowest taxed in OECD.

@RnaudBertrand Trying to act neutral and unbiased (although difficult considering I am a westerner, but did live in Shanghai for 5 years), an alternative perspective/question - is the West putting up a challenge/highlight to the style of government and different democracy?

Insane gaslighting. How does "China being the biggest challenge to global prosperity" square with the fact that 75% of the reduction of global poverty these past 40 years is thanks to China? 🤷‍♂️ How does "China being the biggest challenge to global security" square with the fact that China's development was entirely peaceful and that China hasn't as much as fired a single bullet abroad in 40+ years? 🤷‍♂️

@skiduffer following on from Michael D’s comments ref economic growth and your podcasts, I reread @KateRaworth’s Doughnut Economics - a great read and challenge to traditional perspectives. A podcast with Kate would be a popular one I bet! Keep up the great work.

@joeforbes67 @paddycosgrave Agreed Joe, merely playing devils advocate with the narrative of landlords are making a killing. It’s also worth contrasting the tax treatment of institutional investors (corporate tax rate) vs individuals (standard rate). Do we want all landlords to be corporate institutions?

@GavinMcD86 @paddycosgrave Plus asset increasing , mot exactly rock bottom. Don't think landlords should be high up on the list of groups who need assistance from tax payers.

“Landlords are fleeing the market” This 1 bed home was bought for €295k in November 2022. Its now on the rental market for €36k a year.

@CorribEconomics @paddycosgrave No mistake - Hence why I said you own the asset at the bottom of the picture. I highlighted that as a big benefit.

@GavinMcD86 @paddycosgrave Your second mistake is to consider the capital repayment of the loan as an expense. It is not. Only the interest is an expense. Repaying capital is saving, accumulating an asset. The capital repayments do not affect the profit/loss, but they do affect cashflow.

@joeforbes67 @paddycosgrave Yes correct Joe - I was wrong above, so probably add another 500-800 a month above.

@GavinMcD86 @paddycosgrave Isn't he taxed after expenses , wouldn't the tax be after mortgage and expenses.

@CorribEconomics @paddycosgrave Yes much better - I hadn’t appreciated you can write off the interest, so thanks for correcting. The rates of interest are higher for buy to let, ICS mortgages lowest rate is 6.75%, so interest repayment of 14k each year. So would take you to 21k before tax, 10k after tax?

@GavinMcD86 @paddycosgrave Here are better calculations: Gross rent = 36,000 less interest on 206.5k mortgage 9,500 less estimated expenses 1,000 means 25,500 rental profits. This is an 8.6% yield before tax, which is very good.

@mfinn19941 @paddycosgrave You are correct - I was wrong, don’t fully grasp the fine detail of the tax policy. Seems you can deduct interest while it’s rented out. Improves the finances, but as you said still not attractive? revenue.ie/en/property/re…