Posted by Mick OLeary on April 02, 2012 at 21:09:37:
In Reply to: re: H/hold charge-2 days left posted by jj on March 30, 2012 at 14:08:31:
This is an interesting scenario that was put to me at recently. Only 30% of Irish people pay any income tax. What if a wealthy millionaire creates 1000 jobs and those 1000 workers pay PAYE tax then the job creator would pay no tax. The way this works is the job creator would be given a choice, pay a wealth tax or avoid the tax by investing the tax you would otherwise pay back into your own business. I think that's fair. The top 5% of earners in Ireland pay 45% of the income tax, so a wealth tax would kill off any hope of a innovation led economic recovery.
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