Ireland as a country is not bankrupt we are just a nation that is unwilling to live within our means.
Ahh c'mon Landlord, you're not doing yourself any favours sprouting that kind of waffle.
The IMF isn't called into countries that are simply unwilling to live within their means.Any country that borrows could technically fall into that category !
You well know that Ireland's problems go well beyond the budget deficit !
Bring German tax rates to Ireland and then listen to the outrage but not from the rich.
Someone in German earning the Irish min wage would pay €2,100 in income tax whereas in Ireland the tax paid is €700 approximately.
But than again Ireland is not Germany even though per capita earnings are the same.
Because German minimum wage earners pay €2100, it doesn't necessarily translate that Irish workers can, as the difference can easily be swallowed up due to the Irish worker having to pay off a much higher mortgage !
Remember in the 80's when Ireland suffered from a 'Tax Wedge' ? (i.e. there was a large gap between gross and net pay).
Well, as our tax rates fell, people put the extra money into securing larger and larger mortgages.
Today, we don't have 'Tax Wedge', we have a 'Tax and Mortgage Wedge'.
So just to reiterate, because Irish workers pay less tax than their German counterparts, it doesn't automatically mean they can afford to pay more !
You are not doing yourself any favours either.
Why is it OK for Germans on low incomes to pay more tax than their Irish equivalents?
. They understand that they do not earn enough to own their own homes.
In addition to the normal taxes there is mandatory health insurance (8% I think) in Germany.
One thing I failed to mention in my previous post was that income tax rates on people who earn more than €40k are lower in Germany.