Friday 15 November 2019

Dues paid

• Junior Minister Brian Hayes has either forgotten or does not know that today's pensioners have already bailed out this State.

To get us out of our economic woes in the 1970s, today's pensioners, as productive members of the workforce then, paid standard rate PAYE tax of 35pc. Top rate PAYE tax in 1974 was 77pc.

At the same time the mortgage interest rate was double digit (11 to 19pc). Today mortgage interest rates and PAYE tax rates have never been lower.

As workers then they did not turn on their elders as today's young are being encouraged to do by comments such as those recently made by Mr Hayes. The elderly have contributed and are still contributing more than their fair share.

A Kehoe
Castleknock, Dublin 15

Irish Independent

Today's news headlines, directly to your inbox every morning.

Don't Miss