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 Post subject: Re: Income Distribution & Tax Take
PostPosted: Fri Aug 24, 2018 9:53 am 
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Too Big to Fail

Joined: Apr 4, 2010
Posts: 4760
The Curious One wrote:
Madness of Crowds wrote:
€800 pcm of disposable spending after rent ...


€800 pcm is the absolute minimum people should be thinking about saving for long term pensions etc.


Sure, but the point I'm making is that on €80K, you can live comfortably, stuff your pension full and still save plenty from your post tax income. The point at which you can start saving out of post tax income, on top of generous pension provision comes at about €55K.

I have no idea how people on €35K manage.

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People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.


Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations
Book I, Chapter X, Part II,


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 Post subject: Re: Income Distribution & Tax Take
PostPosted: Fri Aug 24, 2018 11:19 am 
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Joined: Oct 22, 2007
Posts: 1956
Madness of Crowds wrote:
The Curious One wrote:
Madness of Crowds wrote:
€800 pcm of disposable spending after rent ...


€800 pcm is the absolute minimum people should be thinking about saving for long term pensions etc.


Sure, but the point I'm making is that on €80K, you can live comfortably, stuff your pension full and still save plenty from your post tax income. The point at which you can start saving out of post tax income, on top of generous pension provision comes at about €55K.

I have no idea how people on €35K manage.


You live in a council house (if you're lucky), you drive bangers on which you risk not paying tax, you don't go on holidays, you've no savings or pension. If you've a family you get family income support and other supports, the community welfar officer knows your name. It can be fairly precarious.

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If you want to improve, be content to be thought foolish and stupid.
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 Post subject: Re: Income Distribution & Tax Take
PostPosted: Wed Sep 19, 2018 9:47 am 
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Of Systemic Importance
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Joined: Aug 20, 2009
Posts: 5222
Low income worker? Ireland has smallest tax burden for low paid

https://www.irishtimes.com/business/per ... -1.3633502

Quote:
Ireland is one of the best places in the developed world for a low income worker to pay taxes, new figures show. Someone earning €18,000 a year pays an effective tax rate of less than 3 per cent in Ireland, according to the Irish Tax Institute. This compares with a rate of 26 per cent in Germany.

However, as income levels rise, Irish taxpayers quickly move up the table.


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 Post subject: Re: Income Distribution & Tax Take
PostPosted: Wed Sep 19, 2018 11:14 am 
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Under CAB Investigation

Joined: Oct 19, 2010
Posts: 2686
Location: Dublin SE
TheJackal wrote:
Low income worker? Ireland has smallest tax burden for low paid

https://www.irishtimes.com/business/per ... -1.3633502

Quote:
Ireland is one of the best places in the developed world for a low income worker to pay taxes, new figures show. Someone earning €18,000 a year pays an effective tax rate of less than 3 per cent in Ireland, according to the Irish Tax Institute. This compares with a rate of 26 per cent in Germany.

However, as income levels rise, Irish taxpayers quickly move up the table.

I don't mind a progressive tax system but what I do mind is the absolute lack of recognition and outright denial that we have a very progressive tax system in Ireland but almost everyone and virtually all of the politicians especially the socialist.

Solidarity my arse, it's the usual crap, you earn more than me so you should pay more tax.

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 Post subject: Re: Income Distribution & Tax Take
PostPosted: Wed Sep 19, 2018 9:55 pm 
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Single Home Owner

Joined: Apr 16, 2009
Posts: 146
Madness of Crowds wrote:

I have no idea how people on €35K manage.


I have no idea either. Those in Dublin on that salary must have no quality of life whatsoever.


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 Post subject: Re: Income Distribution & Tax Take
PostPosted: Thu Sep 20, 2018 8:47 am 
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Joined: Apr 9, 2014
Posts: 2128
bart wrote:
Madness of Crowds wrote:

I have no idea how people on €35K manage.


I have no idea either. Those in Dublin on that salary must have no quality of life whatsoever.

€35k = circa €2.4k after tax per month


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 Post subject: Re: Income Distribution & Tax Take
PostPosted: Thu Sep 20, 2018 10:06 am 
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Of Systemic Importance

Joined: Nov 4, 2011
Posts: 6074
Location: SthDub
When I moved to Dublin in 98 I was on £9,500 and I drank and dined out a lot more than I do now!

€2.4k take home per month is a lot of money if your single or even if your married without kids say.


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 Post subject: Re: Income Distribution & Tax Take
PostPosted: Thu Sep 20, 2018 11:44 am 
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Property Magnate

Joined: Mar 30, 2016
Posts: 700
FreeFallin wrote:
When I moved to Dublin in 98 I was on £9,500 and I drank and dined out a lot more than I do now!

€2.4k take home per month is a lot of money if your single or even if your married without kids say.


depends on your rent situation


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 Post subject: Re: Income Distribution & Tax Take
PostPosted: Thu Sep 20, 2018 11:47 am 
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Joined: Apr 9, 2014
Posts: 2128
FreeFallin wrote:
When I moved to Dublin in 98 I was on £9,500 and I drank and dined out a lot more than I do now!

€2.4k take home per month is a lot of money if your single or even if your married without kids say.

Back in 98, I was paying £1,200 pm to rent a 2 bed.


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 Post subject: Re: Income Distribution & Tax Take
PostPosted: Thu Sep 20, 2018 11:50 am 
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Property Magnate

Joined: Jan 31, 2009
Posts: 677
TheJackal wrote:
Low income worker? Ireland has smallest tax burden for low paid

https://www.irishtimes.com/business/per ... -1.3633502

Quote:
Ireland is one of the best places in the developed world for a low income worker to pay taxes, new figures show. Someone earning €18,000 a year pays an effective tax rate of less than 3 per cent in Ireland, according to the Irish Tax Institute. This compares with a rate of 26 per cent in Germany.

However, as income levels rise, Irish taxpayers quickly move up the table.

In reality, the tax rate is recognition that the cost of living is much higher here.

Do you remember benchmarking, that caused so much negative comment on the PS?
Well, it was a similar form of recognition that housing was so expensive that those who worked for the state couldn't afford housing.
And most of it, and more, went into the pockets of the developers, not into staff's pockets.

Of course those who had already bought a hoouse did very well out of it, thank you very much.
But even they were encouraged to build on huge extensions/upgrade to a better house/take equity out of their property; the last leading to one pin member's signature, IIRC, that it turned imaginary wealth into real debt.


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