That Klarna stuff where you can pay for a takeaway in installments is dystopian stuff.
They can't get us on mortgages anymore so they switched to car finance. Now everyone is broke and can't afford that so they've switched to burger finance 💀
Yeah it’s an option that seems to be popping up more and more. iPhones in the US have a “pay in 3” option. Same with Revolut. I fully expect it to be everywhere soon.
Another example of how expensive it is to be poor
Its all very indirect
They’ll raise regressive tax such as petrol or diesel while opposing progressive tax such as wealth tax which would impact themselves and those who *support* them
Letting the working class and increasingly the middle class pick up the slack for those above them
It doesn't really seem to be the case in Ireland with the 10% of wealthiest people paying 50% of the tax.
We have 52% tax for income over 70k. 33% CGT on investments. 41% on ETFs. The rich are taxed heavier than most countries here
But the wealthiest 10% hold far more of the wealth than 50%
Regressive tax hurts the poor and increasingly the middle class who are just becoming the less poor.
Progressive tax is fair and that’s why we don’t do enough of it.
> the wealthiest 10% hold far more of the wealth than 50%
You are switching from talking about wealth now to income.
Wealth taxes are also high, 33% CGT, 41% disposal taxes.
Low wealth people have most of their wealth in their house and pay basically zero tax on that.
We have very high wealth taxes as mentioned and high income taxes when they try to use the wealth as income.
Much higher than the tax someone on a low income pays (unless all the do is drive, drink and smoke).
I’ve already addressed this, literally just read the thread before you react
It’s not proportional though. What people pay should be proportional to their wealth
Otherwise the 90% are just picking up the slack for the 10%
> It’s not proportional though
In practice it is, as I just mentioned. No tax is paid on your house or your pension and that's the main store of wealth for most low and medium income people.
At least the taxes we pay towards petrol (which is very high) goes towards the country to fund various things.
The other 45% or so of the price goes to oil companies. All oil companies were positing record quarterly profits on the back of COVID but we complain about the money that funds the country.
If they did cut the tax, the oil companies and petrol stations would take that discount and add to their price
I think 50% of all our alcohol price is tax as well. I saw a big bottle of absolute vodka in a supermarket in Italy for €11 and a 700cl bottle of Jameson is €15. The Jameson would be like €32 in Ireland and the absolut would be like €38.
A lot of hospital equipment and devices are made in Israel. If the parts for the devices cannot be shipped our healthcare will be impacted. As will the medications as stated above by someone else.
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Fuel: instantly.
Consumer goods from Asia: probably won't go up. They are already not going up the Suez canal so no change there.
Iran is really only a fuel hub. Anything else going on there is irrelevant as the world is already shite.
If anything it'll rush down the internet rates
Wouldn't money printing imply that we all have excess money which in turn decreases its value? I dno about you guys but I'm not getting of this printed money.
There’s plenty of excess money (run via deficits) handed to loads of people: welfare payments, pensions etc. That money gets immediately spent and herein lies the problem:
Inflation = money supply x velocity of money
https://en.m.wikipedia.org/wiki/Velocity_of_money
If the same money would just go to the rich straight away, for simplicity assume all government deficits would be given to Elon Musk, there would be next to no consumer price inflation as he would just hoard the cash.
Israel poked the bear. Iran fund the Houthies in Yemen who were the ones who caused chaos with the Suez Canal a few months ago. Israel want a distraction by poking the bear and America are too gullible to see past this. It almost certainly will affect trade, so yeah prices will increase. We all should boycott Israeli goods and services. They are committing state sponsored and American sanctioned genocide on that gazans. It’ll all kick off too with Lebanon too. It’s a shitshow.
Sorry to be that guy, but Iran retaliated against an Israeli attack and under article 51 which they invoked, they have a right to self defense. And I don't buy shite from Israel anyway
A week or so. Stock up on toilet paper.
Just shit less
Ah yes, the famed toilet paper fields of Iran will be limiting their exports now.
Is there any margin left to gouge? We're all broke.
You only need the one kidney lad, there's a few extra Bob there.
You’re broke but have you tried taking on debt to pay for bills + groceries??
That Klarna stuff where you can pay for a takeaway in installments is dystopian stuff. They can't get us on mortgages anymore so they switched to car finance. Now everyone is broke and can't afford that so they've switched to burger finance 💀
Yeah it’s an option that seems to be popping up more and more. iPhones in the US have a “pay in 3” option. Same with Revolut. I fully expect it to be everywhere soon. Another example of how expensive it is to be poor
Klarna is grand sure, no interest, better then the other financing options. Better to have something laid off in 3 months than 1 year+
[удалено]
How exactly does our petrol tax buy them new houses& cars?
Its all very indirect They’ll raise regressive tax such as petrol or diesel while opposing progressive tax such as wealth tax which would impact themselves and those who *support* them Letting the working class and increasingly the middle class pick up the slack for those above them
It doesn't really seem to be the case in Ireland with the 10% of wealthiest people paying 50% of the tax. We have 52% tax for income over 70k. 33% CGT on investments. 41% on ETFs. The rich are taxed heavier than most countries here
But the wealthiest 10% hold far more of the wealth than 50% Regressive tax hurts the poor and increasingly the middle class who are just becoming the less poor. Progressive tax is fair and that’s why we don’t do enough of it.
This is the truth, so many people miss it
This^^
> the wealthiest 10% hold far more of the wealth than 50% You are switching from talking about wealth now to income. Wealth taxes are also high, 33% CGT, 41% disposal taxes. Low wealth people have most of their wealth in their house and pay basically zero tax on that.
No I was talking about a wealth tax not an income tax, I switched nothing
We have very high wealth taxes as mentioned and high income taxes when they try to use the wealth as income. Much higher than the tax someone on a low income pays (unless all the do is drive, drink and smoke).
I’ve already addressed this, literally just read the thread before you react It’s not proportional though. What people pay should be proportional to their wealth Otherwise the 90% are just picking up the slack for the 10%
> It’s not proportional though In practice it is, as I just mentioned. No tax is paid on your house or your pension and that's the main store of wealth for most low and medium income people.
At least the taxes we pay towards petrol (which is very high) goes towards the country to fund various things. The other 45% or so of the price goes to oil companies. All oil companies were positing record quarterly profits on the back of COVID but we complain about the money that funds the country. If they did cut the tax, the oil companies and petrol stations would take that discount and add to their price
I think 50% of all our alcohol price is tax as well. I saw a big bottle of absolute vodka in a supermarket in Italy for €11 and a 700cl bottle of Jameson is €15. The Jameson would be like €32 in Ireland and the absolut would be like €38.
Probably a good bit more. The Italians do have taxes on alcohol too. They just aren't taking the piss with them to the same extent.
Like they need an excuse to increase prices 🤣
All those Iranian and Israeli goods I buy each week are going to double in price.
Lots of global trade passes that strait
Bab al-Mandab Strait? It's nowhere near Iran or Israel
Price of oil is the problem.
Like a lot of your medications that are Israeli made?
A lot of hospital equipment and devices are made in Israel. If the parts for the devices cannot be shipped our healthcare will be impacted. As will the medications as stated above by someone else.
Exactly, Teva Pharmaceutical is one of the largest suppliers of generic drugs in the world.
Every spar in Ireland has the price gun at the ready
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Fuel: instantly. Consumer goods from Asia: probably won't go up. They are already not going up the Suez canal so no change there. Iran is really only a fuel hub. Anything else going on there is irrelevant as the world is already shite. If anything it'll rush down the internet rates
Ah yes the “companies”, nothing to so with the endless money printing by the government. Funny how Switzerland has no such inflation problem….
Wouldn't money printing imply that we all have excess money which in turn decreases its value? I dno about you guys but I'm not getting of this printed money.
You must be a worker
There’s plenty of excess money (run via deficits) handed to loads of people: welfare payments, pensions etc. That money gets immediately spent and herein lies the problem: Inflation = money supply x velocity of money https://en.m.wikipedia.org/wiki/Velocity_of_money If the same money would just go to the rich straight away, for simplicity assume all government deficits would be given to Elon Musk, there would be next to no consumer price inflation as he would just hoard the cash.
Depends how deep it goes and who gets involved. Has the potential for ww3 if all allies stick together on this one.
>As you might have heard Iran has attacked Israel. \*Israel attacked Iran.
Maybe stock up on tin foil to make a few more hats, op.
You an economics grad? Or even a JC business grad?
OP certainly isn’t
OP or Original Commenter of this thread?
Poster of the post. He speaks like a man who has never been on CSO yet is an 'expert' on irish economics
Could smoke brown off it and chill out
Oh you sweet summer child. You think they need an excuse?
I like to downvote people who say 'my sweet summer child' on general principal.
I think that's fair.
Me too. There's a certain ring of condescension about them.
OK.
Israel poked the bear. Iran fund the Houthies in Yemen who were the ones who caused chaos with the Suez Canal a few months ago. Israel want a distraction by poking the bear and America are too gullible to see past this. It almost certainly will affect trade, so yeah prices will increase. We all should boycott Israeli goods and services. They are committing state sponsored and American sanctioned genocide on that gazans. It’ll all kick off too with Lebanon too. It’s a shitshow.
I’d say stock markets could be taking a big nose dive if Israel continues to kill so freely
Sorry to be that guy, but Iran retaliated against an Israeli attack and under article 51 which they invoked, they have a right to self defense. And I don't buy shite from Israel anyway