PAC Told That Government’s Tax Cuts Will Only Benefit High Earners - Cullinane
Sinn Féin member of the Public Accounts Committee David Cullinane TD has today questioned Revenue officials on the implications of the Taoiseach's signalled tax cuts.
Deputy Cullinane said;
"I asked the officials whether it was the case that the 52% marginal tax of tax only applies to those earning over €70,000 a year.
“The officials confirmed that this is the case and that any move to bring those income earners under the marginal rate of 50% will only benefit that section of earners.
"This is the top 14.3% of wage earners.
"It includes the 102,239 people earning between €100,00 and €150,000 a year.
"It also includes the 16,168 people earning over €275,000 a year.
"They will give someone earning €1,000 a day a tax cut and in the same breath say that there is no money to invest in infrastructure, in roads, schools and hospitals.
"Only a change in policy through a change in Government will see the type of balanced investment needed to sustain our future."