Analysis: Government may tout tax cuts but has delivered a stealth rise
Rising wages mean we will need real tax reform, Ibec’s chief economist argues
Many people don’t notice it, but in most years during the past decade, the share of your earnings you pay in income tax, USC and PRSI increased. This can happen even in years where income tax ‘cuts’ are announced on budget day. A cumulative €3.5 billion of income tax cuts have been announced in budget speeches over the past five years.
Despite these apparent cuts, the share of workers’ incomes that is actually paid in ...