Madam, - A few themes have emerged in recent days. Firstly, the failure of the Government to address findings of the Oireachtas report on private property and land prices as eloquently explained by James Pike (June 27th) means, in effect, that the Government has presided over a housing land grab by speculators. This has contributed greatly to the surge in house prices and has resulted in an additional debt burden on hundreds of thousands of voters for decades to come.
It is not too late for the Government to take action to correct before the next election. However, if it merely makes an election promise, nobody will believe it.
Secondly, the axiom that the more people earn the more taxes they pay clearly does not apply to Ireland. Instead, millionaire earners can hide behind Government-inspired tax shelters and avoid tax while Sean Citizen pays the full whack. To add insult to injury, Sean has to compete in the housing market with investors whose purchases are being part-funded by his taxes.
From a national viewpoint, this taxpayer-subsidised property bonanza has enabled many investors to use their tax-relieved gains to leverage massive investments abroad which bring absolutely no benefit back to the nation.
Why should someone earning €50,000 pay tax at 42 per cent while someone earning €250,000 might pay only 20 per cent on income and capital gains? Surely, a top rate of tax should do exactly what it says on the tin. If all personal tax allowances are eliminated, a new top rate of, say, 35 per cent on income and capital might give the same return to the Exchequer as the present inequitable regime. If people wish to make investments, let them make them through companies, where the tax rate is only 12.5 per cent, and let the distributions be taxed at the standard rate.
Thirdly, the tribunals trundle along on a wave of perjury and forgetfulness. In any other civilised country, the full weight of the law would be brought to bear on these issues and, instead of "slaps on the wrist", we would see guilty people and enjoying State-funded hospitality. If the authorities lack resources and expertise, they could seek support from the prosecuting teams used in recent high-profile financial trials in the US.
Where is the anti-corruption agency promised years ago by the Taoiseach and where is the long overdue legislation to protect whistle-blowers? Probably being dusted off as election promises (again).
What is common to these themes is a complete failure of Government to govern fairly. Instead, it has pursued a policy of making the wealthy richer and ignored the fact that, as Fianna Fáil backbenchers are belatedly discovering, the rich account for few votes. - Yours, etc,
BRIAN FLANAGAN, Blackrock, Co Dublin.