Sinn Fein’s tax policies will hitmiddle-income earners more
Issued : Tuesday 19 May, 2015
Labour Party bye-election candidate, Cllr. Willie Quinn is urging voters in Carlow and Kilkenny to think carefully before giving Sinn Fein a preference on Friday as that Party intends to increase taxes on middle-income earners.
“Sinn Féin’s alternative budget proposals advocates a third rate of income tax, a 47 per cent rate for incomes over €100,000, bringing the top marginal rate to almost 60 per cent. This would increase the top marginal tax rate to 59% (income tax 47%, USC 8% and PRSI 4%) and for 62% for self-employed workers.”
“In the OECD, only Portugal and Slovenia had higher rates in 2013, at 61.3 per cent and 61.1 per cent, respectively. The estimated yield seems high and probably is, since it ignores the very negative macroeconomic consequences of the Sinn Féin alternative budget,” said Cllr. Quinn.
“More recently, a Sinn Fein TD said he believes that people earning €60,000 (and maybe less - he didn't seem sure) should be forced to pay much more tax. He wants these middle-earners to be put on a marginal tax rate of 59%!
Cllr. Quinn added: “Speaking on a recent edition of Vincent Brown’s People’s Debate, the SF TD said that their proposed third tax rate should apply, not just to people earning over €100,000, but people earning as low as €60,000.
“This would apply to many thousands of public servants including teachers, senior nurses, fire officers and even some Gardai. I’m sure the electorate of Carlow and Kilkenny will take this into account when deciding who to give their preferences too on Friday,” said Cllr. Quinn.
Cllr William Quinn PCThe Labour Party
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