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Posts in the "Income" category

Income Tax Changes since 2007 - adding it all up

Posted on October 09, 2015 by Micheál Collins

By how much have income taxes changes since 2007?

One insight is to calculate  Budget-by-Budget the net income effect for three sample household types - households which are typical of working families/people those throughout society. These are a single worker with a gross income of €40,000, a couple with one earner on a gross income of €40,000 and a couple with two earners on a gross income of €50,000. All workers are assumed to be PAYE earners.

Table: Impact of Budget Income Taxation Measures on the Post-Tax Income of Three Sample Household Types, 2007-2015 (10 Budgets)

 

Single Earner     €40,000

Couple One Earner      €40,000

Couple Two Earners     €50,000

Budget 2007

     +900

   +530

   +1,736

Budget 2008

     +434

   +210

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Permanent link | Categories: IncomeTaxation

Who Gains for a Minimum Wage Increase?

Posted on October 06, 2015 by Micheál Collins

As part of next week’s Budget the Government is likely to announce an increase to the statutory Minimum Wage. The increase follows the recommendations of the Low Pay Commission.

The latest NERI Research inBrief estimates some of the effects of the proposed increase in the minimum wage. Specifically, it examines the average impact on the gross pay of minimum wage employees and the overall increase in the level of earnings for these employees.

The key points from the analysis are:

  • 75,000 employees work at the minimum wage.
  • Most are women (65%), most are aged in their 20s and 30s and large proportions of these employees work in sectors such as accommodation and food and wholesale and retail.

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Permanent link | Categories: GenderIncomeInequalityJobsLabour costsWages

Is Ireland’s Welfare System Excessively Generous?

Posted on September 17, 2015 by Micheál Collins

Earlier this week, the OECD launched their new Economic Survey of Ireland and noted both progress and challenges for the economy since their last assessment in 2013.

The report notes the significant role played by the redistribution system (taxes and in particular transfers) in reducing the underlying level of market income inequality. It also points towards some challenges for households on low incomes who, in situations where they are in receipt of payments like rent supplement, face limited monetary gains when taking up work (often in low paid sectors of the labour market). To quote the report and its suggested policy implications:

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Permanent link | Categories: IncomeJobs

Employees and the Self-Employed: an earnings profile

Posted on September 16, 2015 by Micheál Collins

Despite its relevance to broad areas of public policy, detailed assessments of the structure and distribution of the income of workers in the Republic of Ireland has been limited. The latest NERI Research inBrief examines the distribution of work related earnings for both employees and the self-employed.

The key points from the analysis, which use the latest available data which is for 2013, are:

     The distribution of employee income roughly divides into quarters:

  •  26% earn less than €15,000 per annum;
  • 28% earn between €15,000 and €30,000;
  • 24.5% earn between €30,000 and €50,000; and
  • 21.5% earn more than €50,000.

     At the top of the distribution, 5% of employees earn more than €85,000 and 3.5% earn more than €100,000.

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Permanent link | Categories: IncomeInequalityTaxationWages

New Research on Market Income and its Distribution

Posted on August 26, 2015 by Micheál Collins

The latest NERI Research inBrief examines the underlying distribution of market income in the Republic of Ireland.

Market income captures the income received by employees as earnings, the profits of the self-employed and other ‘unearned’ income including rental income, private pension income, investment income and interest income. It is in effect the pre-distribution of income; that which arises before the redistributive mechanisms of taxation and welfare step in.

The key points from the analysis, which use the latest available data which is for 2013, are: 

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Permanent link | Categories: IncomeInequalityWages

Monday Blog—Review of 2014

Posted on July 27, 2015 by Tom Healy

This week's blog looks back at articles from 2014:

Topic

Date

Main Keyword

Other Keywords

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Permanent link | Categories: Government SpendingIncomeInequalityInvestmentJobsLiving wageMacroeconomicsTaxationWages

Living Wage 2015 €11.50 per hour

Posted on July 06, 2015 by Micheál Collins

The 2015 Living Wage has been calculated by the Living Wage Technical Group. It is €11.50 per hour. The new figure represents an increase of 5c per hour over the 2014 rate (€11.45). The increase has been driven by changes in the cost of living and changes in the taxation system over the past year.

The Republic of Ireland Living Wage was established in 2014 and is part of a growing international set of similar figures which reflect a belief across societies that individuals working full-time should be able to earn enough income to enjoy a decent standard of living.

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Permanent link | Categories: IncomeLiving wage

Whose on the Minimum Wage?

Posted on July 02, 2015 by Micheál Collins

Micheal Collins profile

A new NERI research paper estimates the number of workers on the minimum wage and further profiles these workers by gender, by the sector they work in and by their employment status (full-time, part-time, permanent, temporary etc). The data also allows an examination of the household/family circumstances of workers on the Minimum Wage.

The key findings from the paper are:

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Permanent link | Categories: GenderIncomeInequalityJobsLabour costsWages

Cutting back & going without – deprivation and the recession

Posted on June 11, 2015 by Micheál Collins

The scale of Ireland’s recent recession was such that its impact was unavoidable for almost all of society. Whether through job losses, pay reductions, welfare reductions, cuts to services or new taxes and charges, its impact touched almost every household. Income (disposable), just one measure, shows a more than 10.5% fall between 2007 and 2013. However, the story of how people coped with such dramatic changes in living standards is more complex than just changes in income.

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Permanent link | Categories: IncomeInequality

The Male Female income gap

Posted on May 14, 2015 by Micheál Collins

There are many measures examining differences in various socio-economic characteristics among men and women. In general, women are better educated, healthier, live longer but earn less – factors which in themselves point towards gaps in societal equality for both sexes.

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Permanent link | Categories: GenderIncomeInequalityWages

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