Sunday 26 February 2017

The still-hidden debt burden of Ireland's top earners

Joan Burton: deserves praise for maintaining the welfare system
Joan Burton: deserves praise for maintaining the welfare system

IMAGINE a society of 10 people, standing in a line. The first nine have incomes of €10 each in their pockets. The 10th person has an income of €100. This is an income distribution.

Imagine they vote to redistribute income more equally, taking €50 off the 10th person, and handing her back €5. Now the first nine people have €15 each, and our 10th person has €55.

It's a fair bet she's not too impressed with the situation. Everyone has benefited except her.

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