Should Ireland tax wealth?
Summary
Newstalk Breakfast discusses new ESRI research on a potential 1% annual wealth tax in Ireland, featuring Research Officer Dr. Rachel Sleymaker. The segment explores the revenue implications, estimating that taxing the top 1% with net worths over €2 million could yield between €100 million and €1 billion depending on asset exclusions. Key topics include the political sensitivity of taxing illiquid assets like farms and businesses, as well as the practical challenges of collecting an annual tax on wealth stocks rather than realized gains.
Topics discussed
Introduction: ESRI research on a potential 1% wealth tax
Purpose of the paper and impact of asset exclusions
Political sensitivity and liquidity of business and farm wealth
Taxing wealth stock vs. flow and practical challenges
Estimated revenue: 1 billion vs. 100 million euros
Wealth thresholds for the top 1% and closing remarks
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