Pearse Doherty budget debate with Fine Gael and Fianna Fáil TDs on 'Tonight with Vincent Browne'

Sinn Féin Finance Spokesperson Pearse Doherty outlines the party's Alternative Budget and responds to unfounded claims by Fine Gael and Fianna Fáil regarding the Wealth tax and retention of the reduced VAT Rate.

[@MrFolkeBakker]

How come the commentator doesn't understand the difference between marginal and effective tax rates, and the effects on incentives they have. Let me explain it for all of you economically illiterate. Suppose we have a tax system where the top rate is 60% above 100 000 as proposed, that means that you will get to keep 40 cents on every single euro you earn above 100000. Not very incentivizing. However the amount of tax paid on the total income can be much lower, but that doesn't hurt the incentives, it is the progression of taxes that hurt the incentives. So to make the example clear, lets suppose that a person earns 150000 a year, and that nothing is taxed on the first 100000. this gives this person an effective tax of 30000,and an effective rate of 15%. this doesnt seem very high, and it isnt. But this is only because the first 100000 isnt taxed at all, but this person would have a much smaller incentive to keep working after he has earned the first 100000 because then he would owe more to the government than he would keep for himself. So i don't think that SF would be able to raise any revenue with this tax, because it would only mean that people would work less, once they reach the top tax bracket.

[@HabibBenamara-n2y]

ايها.الساده.نحن.ننذر.الياشياءاخري.لم.تروها.انتم.وان.ريتموه.تتجاهلوها.ان.امركاء.اكبر.بلدان.العالم.جغرافيا.وشعبيا.واقدساديا.والبلدان.لاخري.من.حولها.هيه.مشاركه.في.وجود.امركاء. الحلقات.الظكمله.هيه.افريقا.يهما.امركاء.ان.تكون.علي.مايرام.ولكم.لان.تبعثرت.لاوراق.حربا.هناك.وحربا.اخري.وانها.هاذه.الحروب.ضاره.بامركا.ععجلا.ام.اجلا.انذرو.حرب.اكرنيا.استنزفت.الكثير..ولزلت.وما.انتم.فاعلون.وهاهيه.الحرب.الثانيه.بين.اسرانيل.والفلسطني.وانتم.ال اعمون.بةلسياسه.والعتادوالمال.وازع.بحرا.دافق.الي.اسرانيل.وما.هيه.اثار.كل.من.الحربين.الريا.عندنا.تخالف.ريتكم.من.الداخل

[@sinnfeinireland]

The scary thing is that the individual who doesn't understand how taxation works is Fianna Fáil's Willie O'Dea, a man who served as a Government Cabinet Minister from 2004 - 2010!!

[@mrmc2465]

I think it's you and your crowd who don't understand how tax works, 42% tax is robbery 62% is daylight robbery. But I suppose SF have no problem with robbery

[@40supple]

@@mrmc2465 Wille O'Dea thinks that those earning 200k per year will only netting 72k? what a clown - certainly doesn't know how taxation works in the country, that's worrying from a ex-minister

[@jonjeny]

Hon Pearse!!

[@joanofarc708]

God almighty their all the same complete wasters

[@1948DESMOND]

the guy who is sitting on pearse's left .... . who is he? has he never studied diction? i havent a clue what he is saying. he is wastinghis time. elocution is important if you are on t.v. or in public.

[@fruitpastel3643]

Bruh moment

[@lulu-ox5yr]

He needs to be our next taoiseach no bullshit

[@kenshields7922]

as i would love to agree with you mary lou is the number 1 and pierce her right arm