Dáil debates

Wednesday, 18 December 2019

Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation

 

1:25 pm

Photo of Leo VaradkarLeo Varadkar (Taoiseach, Department of An Taoiseach; Dublin West, Fine Gael) | Oireachtas source

The Deputy will find that many of those billionaires are not resident in the State. If one was to bring in a 100% tax for them, they definitely would not be resident in the State. The yield from any tax that is 100% is zero. Rather than bringing in revenue, we would probably end up with less. Anybody will understand that if something is taxed at 100%, one will not get any revenue out of it.

There are many forms of equality. There is equality before the law and I am proud to be part of a Government that helped to repeal the eighth amendment and helped to bring about marriage equality in the State. I am proud to be part of a Government that for five years has seen poverty and deprivation rates reduce in Ireland. According to the Central Statistics Office, income inequality in Ireland is now at its second lowest since records began. That is something that very few socialist governments have ever achieved.

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