Ireland’s high earners have doubled in number since pre-pandemic - they are now vital for income tax
So that’s SF’s tax policy in the shit.
Based on this;
- Of the €35bn in income tax and USC, €19bn is paid by those on over €100k
- Roughly €600m of €35bn is paid by people below €30k
- there is 1.6m tax units in the under €30k bracket, meaning they pay about €375 on average. There is 357k on the over 100k bracket, paying an average of over €50,000
- that means that for every €1 someone under €30k pays in tax, someone over €100k pays €142
This has all the hallmarks of a highly progressive tax system and it puts us only behind Switzerland in developed countries. But it has been cited as a major risk by fiscal analysts.
The SF policy is to raise a tiny additional amount by taxing a growing €100k bracket more and wiping out any taxes on the lower paid.