Being a small country it is a lot easier for us to implement fiscal stimulous direct to the consumer.
I have been watching other countries and their attempts at revitalising their domestic economies (USA, Australia etc.) by providing stimulus.
I have many many ideas for doing so but i see no DIRECT STIMULOUS from Ireland and we are in a worse situation right now than Australia for instance, especially with debt and consumer confidence.
HERE IS THE LETTER I PROPOSE TO THE TAXPAYER. A SUGGESTION TO FUND SAME IS FROM THE PENSIONS FUND BECAUSE ITS DORMANT RIGHT NOW.
I HAVE NO DOUBT IT IS NEITHER COMPLETE NOR FULLY WORKED OUT BUT I HOPE IT ACTS AS THE SEEDS OF AN IDEA FOR A BADLY NEEDED TARGETED STIMULOUS PACKAGE.
To the Taxpayer,
Date Of Issue:
Closing Date for Applications:
As one of 2,000,000 taxpayers in Ireland in the previous 10 years you are entitled to claim the following tax rebate provided you qualify under 1 of four options below :-
Please select one of the following four options by ticking the box and your rebate will be issued provided you are deemed to qualify for the selected option.
If you fail to reply before the closing date, 01/05/2009, you will forfeit the rebate :-
Option 1.) Pay off short term debt
You must nominate credit card account(s) or short term loan(s), for example a car loan or home improvement loan, to which you would like the rebate to be lodged.
To Qualify for this option:
You must be able to identify short term debt owned by you that exceeds â‚¬5000. The amount due must have been outstanding to you, the taxpayer, as at 01/01/2009, or must be a loan issued for the consolidation of debts owed by you.
Mortgage debt may not be included. Joint accounts require that the amount of debt due on the account(s) listed be divided equally among all account holders for the purposes of calculating the total debts owned by you, the taxpayer, as at 01/01/2009.
Enter account details below:-
2.) Select this option if you have not selected option 1 or do not qualify for it i.e. have no short term debts.
The rebate will remain invested for you in the government pension fund whereby you will recieve a lump sum as part of your state pension when you reach pension age as part of your state pension and qualify for same when you reach 65.
To Qualify for this option:
To qualify for this option it will be required that you have not reached the state pension age by the date that your application has been processed.
3.) Select this option if you have not selected option 1 above and are already in receipt of the old age pension.
If you are already in receipt of a state old age pension, you still qualify for the rebate minus welfare payments already recieved (provided you have paid PAYE taxes of more than â‚¬5,000 in the last 10 years).
Any rebate due will be lodged to a bank account nominated by you, the taxpayer. Enter details below:-
4.) Select this option if you have not selected option 1, are in receipt of social welfare payments and want to attend an approved training couse or courses to the value of â‚¬5000, as approved by your local FAS office.
To select this option please bring this letter with you to your local FAS officer along with your choice of course.
Your FAS officer will determine if the selected course qualifies for the payment.
You must return this letter by ticking one of the boxes above on or before 01/05/2011.
If you fail to reply before the closing date you will forfeit the rebate.
Call 1800-123456 if you do not understand this letter and need some help with it.