Madam, – So Brian Lenihan thinks an increase of the tax rate on those earning over €100,000 would cause the wealthy to flee our shores (Dáil report, October 28th)? Well, it might make the super-wealthy think about it, but those of more modest wealth wouldn’t have much of a choice. Most are in professions where they wouldn’t earn nearly anything as much elsewhere, or they are self-employed, with their business base here.
So I suggest a compromise. Increase the rate to 48 per cent for earnings between €100,000 and €300,000 or thereabouts and then drop it back to 42 per cent for anything earned over and above. I doubt the super-rich would flee on the strength of the extra few thousand this would cost them. And if moderately high earners feel driven out, well good luck to them. There are plenty of professionals and entrepreneurs now on the dole who would be happy to take their place and have an income to pay tax on. – Yours, etc,