- Yes
- No
0 voters
It’s an interesting topic, especially where it states below that Jeff Bezos only earns $81,000 a year.
https://www.ccn.com/frances-millionaire-tax-failed-so-will-aocs-green-new-deal/
You’ll have to provide more details on your proposal before I’ll vote on it.
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TFK finds it absolutely abhorrent that the wealthy should have to pay any tax. Now shut up and doff that cap.
We’ll need to talk to Sinn Féin when they get into power.
Sinn Fein proposal is 1% on assets above €1m. Only first 20% of family home excluded. People in Dublin wouldn’t be long hitting the €1m threshold.
They also include your pre-tax income for the year in your calculation of your wealth.
I presume they would eliminate property tax if they brought this in.
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Put it on €5 million and those who’s land value may exceed 1 million by pure location and inheritance won’t be paying twice for their home. Property prices are ridiculously over priced anyway. There is a difference between well off and wealthy. Only thing is the wealthy are very good at hiding it
Do they net off the mortgage ?
It would be a good way to free up houses as most pensioners would have to sell.
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Where would all the pensioners live then?
The demographics will sort that 
They’d be forced to downsize and perhaps leave areas they have lived in for 50 years.
Apartments.
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They do. But go with someone who bought in any reasonably good (define good, Tinnion etc. etc.) area of Dublin 20 years ago. They’ll have paid off perhaps 70-80% of their mortgage and have seen a significant increase in the value of their homes.
Are they truly wealthy? Comfortable perhaps but wealthy? I’d have thought not. It’s not as if they can crystallise that asset and enjoy the proceeds.
I’m all for a redistributions of wealth to create more equal opportunity in society, inheritance tax is one I wholeheartedly agree with and a wealth tax is not necessarily a bad idea but I think it should be pitched at the right level.
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High-rise nursing homes.
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I’d agree with all that.
We have a very progressive income tax system.
I’d agree at a certain level of assets there should be a wealth tax and if there is one introduced I’d like it to include deemed value of PS pension pots.
Student accomodation
How many of those billionaires are living here? The Collisions are based in the States are they not. How would that work?
Co-living complexes. If they’re good enough for young professionals they’re surely good enough for pensioners. There’s the added enforced sociability of co-living which would be good for auld people.
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Separate topic. But it’s the way things are going.
I posted up here before about all my aunts/uncles in greater London. And there is/was a good few of them. They all sold up their houses and moved into apartments as age crept up on them. Lots of different factors involved.
They all move to condos in Florida over in the States
Separate topic again but I was looking at the planning notice on that vacant site in Clonmacken yesterday. It was hard to make out what type of clients they are trying to attract, but with planning for 35 car spaces and 110 bicycles, it must surely be students.
Would it be common for a mortgage to be much longer that 20 years length 20 years ago? Would have thought they wouldn’t be as long as mortgages today. I’d say owning 80-100% of an asset valued over one million is an indicator of wealth in fairness.