Irish Property Tax Properly Taxed
Irish Property Tax HAS TO BEPROPORTIONAL
The Irish government needs to be very careful in how it might apply the proposed Property Tax. If the tax is not PROPORTIONAL to income and assets, it will be yet another element that could well provoke revolt in Ireland.
OVERBURDENED LOW EARNERS
During the recession the better-off have on average gained 4%, while those at the bottom of the income ladder saw their disposable incomes effectively fall by 19%. This situation cannot be allowed to continue or it will lead to very serious social and security problems and everyone will lose.
ABILITY TO PAY AND PROPORTIONALITY
Any property tax has to be directly linked to the ability of the owners to pay. A good system might be to use a multiplier system. Start with a €100 tax and let that apply to all households with net incomes up to €30,000. Then between €30k and €50k add 2% of the nett income.
€50k to €100k add 3% and €100k upwards add 5%.
The Irish prime minister on a basic of €200,000, not counting the expenses, would pay as follows:
Base figure 1st €30k ————————— €100.00
2% of the €20k between €30 and 50k ——– €400.00
3% of the €50k between €50 and 100k ——- €1500.00
5% above i.e Prime Minister on €200k add — €5000.00
The Prime Minister on €200,000 pa pays €7000.00
Pensioners or those on minimum wage pay €100.00
FAIR AND BALANCED
Now that would be a fair and reasonable Property Tax. Failure to make the system proportional and balanced will drive the country one step further towards some form of social breakdown or revolution.
.
2012-09-10 15:57:44
Source: http://wood-pellet-ireland.blogspot.com/2012/09/irish-property-tax-properly-taxed.html
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