Michael McGrath (Cork South Central, Fianna Fail)
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I will respond first and I know the Minister, Deputy Donohoe, will want to add some points. Overall, we have a highly redistributive tax system. In particular, our income tax system is highly progressive. The top 25% of earners pay approximately 85% of all income taxes. On the wealth side, we have well-established capital taxes, both capital gains tax and capital acquisitions tax. We have a property tax in Ireland, which I do not think the Deputy supports. Property is the main form of wealth for most people in the country, which is an important point.