Mansion tax to be introduced in Wednesday’s budget as coalition partners slug it out

There are also suggestions in the Irish media over the weekend that anyone earning over EUR 100,000 $130,000) will have to pay an extra 3% as a Universal Social Charge (another tax). If I was living in Ireland, had put myself through college, grad school, had developed a certain skill-set that enabled me to make a lot of money for an employer, or had opened my own businness that had proven very successful, why should I be penalized? I would already be paying 41% which I believe is the highest level there, I would be paying PRSI (social security tax), I would be paying their 'household charge' and would soon be paying a water charge and a property tax. Why should I be penalized with a 3% increase in the USC and if my house is in a fashionable area of Dublin, happens to be worth over EUR 1 million because of my success I would now have to pay more just because it is worth over a certain amount? My tax rate may end up being 53-55%?? In Ireland I don't believe you can itemize deductions for local taxes (water charge, household charge etc. or property tax). It appears to me that the Irish system encourages people to sit on their behinds and be content with a modest income & surroundings, rather than improving one's lot.

Whiles of the Filthy Rich ~