The Rich ARE getting richer

[SoundMan]

Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years | Oxfam International

www.oxfam.org

and

"Ireland’s disproportionately high number of 17 billionaires – the vast majority of whom are men – shows that the country is mirroring this global trend when it comes to wealth inequality. Ireland ranks fifth in the world after Hong Kong, Cyprus, Switzerland and Singapore in terms of relative number of billionaires and has one of the highest levels of wealth inequality in the EU."


A relatively small but incremental tax on the super wealthy would help generate funds that could help sustain this country's infrastructure

 

[Drucker]

Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years | Oxfam International

www.oxfam.org

and

"Ireland’s disproportionately high number of 17 billionaires – the vast majority of whom are men – shows that the country is mirroring this global trend when it comes to wealth inequality. Ireland ranks fifth in the world after Hong Kong, Cyprus, Switzerland and Singapore in terms of relative number of billionaires and has one of the highest levels of wealth inequality in the EU."


A relatively small but incremental tax on the super wealthy would help generate funds that could help sustain this country's infrastructure

Unfortunately, the super rich are also super mobile. Without a coordinated approach with other countries attempting to impose additional taxation will fail. Very few Irish billionaires are resident here for tax purposes.
Magner, McManus, Desmond, O’Brien, etc….

 

[Gregory_Mike]

Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years | Oxfam International

www.oxfam.org

and

"Ireland’s disproportionately high number of 17 billionaires – the vast majority of whom are men – shows that the country is mirroring this global trend when it comes to wealth inequality. Ireland ranks fifth in the world after Hong Kong, Cyprus, Switzerland and Singapore in terms of relative number of billionaires and has one of the highest levels of wealth inequality in the EU."


A relatively small but incremental tax on the super wealthy would help generate funds that could help sustain this country's infrastructure

Pound for pound, in terms of money given for work being done, you might just be the richest man in Ireland.

 

[SoundMan]

Unfortunately, the super rich are also super mobile. Without a coordinated approach with other countries attempting to impose additional taxation will fail. Very few Irish billionaires are resident here for tax purposes.
Magner, McManus, Desmond, O’Brien, etc….

It would need to be a coordinated approach agreed. But I heard on Morning Ireland this morning that Spain and Argentina are two countries that currently have a wealth tax and there's been no obvious wealthy exodus from either.

While Ireland and other EU countries devote some of their annual budgets on donations to poorer countries it'd be good if this came from a tax on the super wealthy here imho. It's not as though they'd miss it very much.

I think it's over 1400 people in the republic have wealth of 50Million Dollars, about 47 Million Euros, or more!

 

[SoundMan]

Its all tied up wealth..often in shares etc.

Most if us would have access to more ready cash than most millionairess/ billionaires.

Intrestingly enough..most of corks millionaires are employees of the original EMC workers( many without any 3rd) who had fantastic share options.
Working for the likes of apple in cork wont make you a millionaire.
Same with the pharma companies.

A very good irish engineering company DPS, sold for a deal worth about 300m euro recently but the staff got nada as it only had a handful of share owners.

I know a few millionaires...all of whom worked extremely hard for it.

I know a couple of millionaires myself and yes they worked very hard for it, but there's a couple of things you should know. A millionaire, or indeed a multimillionaire, isn't considered super-rich. Those are the guys worth over 47M - that's serious coin. And yet in Ireland there are over 1400 of them!
And your notion that most of us would have access to more ready cash than most of them shows just how detached from reality you are.

 

[bluesball]

So to is Mick the dub despite of what he says.

 

[Stacky]

Capital is mobile and the super rich can hire the best tax lawyers anyway.

There is huge inequality in the world and billionaires like Musk are out of control while Bill Gates and Warren Buffet are giving their huge fortunes to charity but if we all paid enough tax in the first we would not even need charities and public services and transport etc would be in order but we have politicians telling us what we want to hear all the time.

 

[SoundMan]

Jebus wept!

Oxfam going on about the super rich getting super richer and someone decides to deflect to Mick de dub

 

[Swanforthelough]

It would need to be a coordinated approach agreed. But I heard on Morning Ireland this morning that Spain and Argentina are two countries that currently have a wealth tax and there's been no obvious wealthy exodus from either.

While Ireland and other EU countries devote some of their annual budgets on donations to poorer countries it'd be good if this came from a tax on the super wealthy here imho. It's not as though they'd miss it very much.

I think it's over 1400 people in the republic have wealth of 50Million Dollars, about 47 Million Euros, or more!

and Argentina's economy is a model the free world should adopt.

 

[SoundMan]

and Argentina's economy is a model the free world should adopt.

Is THAT what you took from it?

Spain is another country that has a wealth tax on the super rich. The point being there wasn't an instant flight of the super rich from either of those countries that taxed their super rich.

There are over 1400 people in Ireland who are worth more than 47,000,000 Euro each!!! And yet we have thousands of children homeless, and a need for food banks. Meanwhile some forelock tuggers come out with the "ah but you can't tax the super wealthy" excuses.

FFS!