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Ireland Should Levy A 15% Flat Tax On Wealthy Citizens, Says Economist

by Jason Gorringe, Tax-News.com, London

12 October 2004

A leading economist has called upon the Irish government to levy a 15% flat tax on individuals with substantial incomes.

Addressing an audience at a conference of Ireland’s largest union, the Services, Industrial, Professional and Technical Union (SIPTU), Paul Tansey of financial consultants Tansey Webster Stewart argued that the tax code was unfairly weighted towards the wealthy and contributed towards a growing inequality of wealth.

Noting that the tax code allows wealthy individuals to reduce their tax bills by taking advantage of various deductions, write-offs and investment schemes, Tansey urged the government to levy a 15% flat tax on those earning more than EUR250,000 per year.

“High-earning taxpayers could continue to choose from the wide selection of tax reducing allowances and write-offs on offer, subject to the proviso that they could not reduce their income tax liabilities below 15% of their gross incomes,” Mr Tansey told the conference.

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