Michael Noonan (Limerick City, Fine Gael)
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No, this will help the Deputy. Someone on a salary of €100,000 is paying just under €40,000 in personal taxes. That consists of income tax, USC and PRSI. These are not fabulously wealthy people. Their net take-home pay is €60,000. If one piles on another 11% through the marginal tax rate, one can see where it will lead. One needs to work off net figures to see the impact.