Taken from another site in regards to that artical
"I cannot tell you how many times I've seen this referenced in the last few days.
However,
That's quite simply, bollox
35,000 @20% = 7,000
Less married Credit 3660
PAYE Credit 1830
5490
Tax 1210
Health Levy @4%, in fact these rates are composite rates until the end of 09 so it's not that high. =1400
Income Levy @2% = 700
Total Tax Bill 3610
Net Pay 31,390. Plus he could easily avail of additional credits like service charges, medical expenses etc.
Social welfare is here:
http://www.citizensinformation.ie/ca..._welfare_allow
Applicant 204.3
Wife 135.60
4 Kids at 26 each
Total 419.90 X 52 is 21, 834.8 per annum
Mortgage Interest is only short term on the interest not on the capital. You will also be oblidged to make contributions- the minimum being 24.
http://www.citizensinformation.ie/ca...est_supplement. The example of 1200 off a 1500 mortgage is not only laughable but would not be maintained for any length of time.
So, lets say he's is getting such a crazy amount
weekly income 419.90
Less minimum contributions 24, less the rest of the INTEREST portion only of the mortgage 75, less the CAPITAL, on a mortgage that has interest of 1500 a month capital is going to be much much higher! Indeed with current interest rates it means our golf playing dad has a mortgage of 1,000,000 on a 35K salary!!!
Leaves him with net weekly income of buttons.
Andy McNamra is not only annoying but his is mis-informed- I suggest he go join a dole queue, wait 6 weeks odd on NO income to be assessed and another 3 months to have your payments processed.
905 for 4 kids, for uniforms, books, buses, shoes, bags, biros and god knows what else.
The Independent are as bad for printing this obvious muppetry. Anyone who has any experience of the dole will know that's it's all the incentive you need to go find a job "