How much tax does the ‘squeezed middle’ really pay?
The top 26% of earners – those on €50,000 or more – will pay 85% of total income taxes
Forget about your Apples and your Googles, it’s income taxes that are driving the Irish economy. Photograph: iStock
Budget 2019 is fast approaching and, at times, it seems you can’t see the sky for all the kites being flown. One proposal that now seems a near certainty is to take more middle-income earners either out of the top rate of tax altogether, or reduce the amount of their income that’s liable to tax at 40 per cent.
While it has been suggested that such a move will only save taxpayers in the order of €300-€500 over the year, it’ll be welcome nonetheless.