Oireachtas Joint and Select Committees

Tuesday, 7 November 2017

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance Bill 2017: Committee Stage

6:00 pm

Photo of Paul MurphyPaul Murphy (Dublin South West, Solidarity) | Oireachtas source

That is not at all the case when combined with transforming society along the lines of our proposals, which entail scrapping the USC and replacing it with a high-income social charge on those earning more than €90,000 and new tax bands going upwards.

The point is that the language around middle-income earners is designed to shroud the reality behind a curtain. Much has been made of the budget being another fiver budget - that phrase has been used. Is the Minister not embarrassed at the idea that a single-income earner on €20,000 or €25,000 a year gets a total benefit from all the tax changes of €1 a week, or a change in net income of 0.3%, whereas someone earning €75,000 would get a weekly increase of €6 and a change in net income of 0.7%? Therefore sections of higher-income earners benefit more from the tax changes, both USC and income tax, than relatively low-paid earners, who make up quite a substantial portion of taxpayers in this economy.

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