Rights, Freedoms and Repression Woman whose soup run fed 250 homeless in Dublin told to cease or face €300k fine 21:35 Feb 07 2 comments Germany cannot give up it's Nazi past - Germany orders Holocaust survivor institutionalized over Cov... 23:31 Jan 14 1 comments Crisis in America: Deaths Up 40% Among Those Aged 18-64 Based on Life Insurance Claims for 2021 Afte... 23:16 Jan 06 0 comments Protests over post-vaccination deaths spread across South Korea 23:18 Dec 26 0 comments Chris Hedges: The execution of Julian Assange 22:19 Dec 19 1 comments more >>Blog Feeds
Anti-EmpireNorth Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi? Trump Assembles a War Cabinet Sat Nov 16, 2024 10:29 | Marko Marjanovi? Slavgrinder Ramps Up Into Overdrive Tue Nov 12, 2024 10:29 | Marko Marjanovi? ?Existential? Culling to Continue on Com... Mon Nov 11, 2024 10:28 | Marko Marjanovi? US to Deploy Military Contractors to Ukr... Sun Nov 10, 2024 02:37 | Field Empty
The SakerA bird's eye view of the vineyard
Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
What do you make of the Russia and China Partnership? Tue Feb 28, 2023 16:26 | The Saker
Moveable Feast Cafe 2023/02/27 ? Open Thread Mon Feb 27, 2023 19:00 | cafe-uploader
The stage is set for Hybrid World War III Mon Feb 27, 2023 15:50 | The Saker
Lockdown Skeptics
News Round-Up Mon Jan 13, 2025 01:14 | Richard Eldred
?It?s -3?C but I Can?t Afford to Put the Heating on Because of Rachel Reeves? Sun Jan 12, 2025 19:00 | Richard Eldred
?Islamophobia? and the Grooming Gangs Scandal Sun Jan 12, 2025 17:00 | Richard Eldred
How Wokeism Is Destroying the West Sun Jan 12, 2025 15:00 | Sallust
Dozens of British Women Have Seen Their Breasts Grow After the Covid Jab Sun Jan 12, 2025 13:00 | Richard Eldred
Voltaire NetworkVoltaire, international editionVoltaire, International Newsletter N?114-115 Fri Jan 10, 2025 14:04 | en End of Russian gas transit via Ukraine to the EU Fri Jan 10, 2025 13:45 | en After Iraq, Libya, Gaza, Lebanon and Syria, the Pentagon attacks Yemen, by Thier... Tue Jan 07, 2025 06:58 | en Voltaire, International Newsletter N?113 Fri Dec 20, 2024 10:42 | en Pentagon could create a second Kurdish state Fri Dec 20, 2024 10:31 | en |
Dublin - Event Notice Thursday January 01 1970 Take Action On October 1st - No Billion Euro BailOut #YouAreNotaLoan
dublin |
rights, freedoms and repression |
event notice
Wednesday September 26, 2012 07:06 by Occupier - #OccupyDameStreet
AIB - We Are The Incoming Missile 'Austerity' in Ireland - the transfer of wealth from the majority to the few- is slowly tearing the lives of ordinary people apart. The stresses of impossible debts, unemployment, and insecurity, are eroding the fabric of society in Ireland. Can anyone blame those young people who are emigrating in droves, for leaving in search of some kind of future? The country is being gutted. |
View Comments Titles Only
save preference
Comments (1 of 1)
Jump To Comment: 1Today was supposed to be the day that the government was handing over our money to some poor unfortunate AIB bondholders. They've really had a rough time worrying whether we would be kind enough to give them the money, but they shouldn't have worried because we haven't disappointed any of them in the last 3 years.
Given that the population is around 4.5 million, this means that for every man, woman and child in the country, approximately €222 was handed over for just today. But if we re-calculate this in terms of the number of people working which is approximately 1.8 million then the figure is even higher at €555 per person after tax and this can work out from (in terms of before tax income) anything from €840 at 30% tax and €1,110 for 50% tax. The tax is calculated from the 20% and 40% rate with an extra 10% added due to universal social charge and PRSI
But it's even worse because you probably haven't realized it, that so far this year Irish Banks have paid €18 billion or ( €18,000 million) to bondholders this year. I wonder what we paid last year and the year before?
When we work this out per working person for this year we get for the two different tax rates used above:
@ 30% (=20% rate + USC + PRSI) €15,120
@ 50% (=40% rate + USC + PRSI) €19,800
But remember, the bailout was for €90 billion not €18 billion and it is quite likely there is other money not officially on the books but for which we would likely pay for. Anyhow using the official figure, then the above figures become:
@ 30% (=20% rate + USC + PRSI) €76,500
@ 50% (=40% rate + USC + PRSI) €99,000
Lets put those figures in perspective. For lower figure of €76,500 this would be for a tax rate of someone earning probably less than €33k per year and it is more than twice their salary. In the old pre-bubble days, what a bank would lend you for a mortgage was about 2.5 times your salary. This is a mortgage and you don't even get to own anything at the end of it. Whats more you probably have to pay your real mortgage out of the same wage even though your real mortgage is probably at least €150,000+ higher than it should be thanks to the nexus of banking-developers-estate-agents-media during the bubble years with a little bit of help from Bertie and the boys in FF.
And for the €99,000 well what can you say. Its just that much more madding than the lower figure
And please remember while you are paying the speculator mortgage, your own mortgage and you have probably had a wage cut of 15%, you are paying more for the rapidly deteroriating health service, more for schools and college, household tax, water charges shortly and very likely high road tax, energy bills and everything else. But sure the Irish don't mind. We're not like the Greeks.
If you think that is okay, then I should point out that I didn't even count in the interest payments on the €90,000 million which could be very high over the period we are stupid enough to continue paying