Author Topic: Business Men V Business Boys  (Read 802 times)

Offline John m

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Re: Business Men V Business Boys
« Reply #15 on: March 17, 2023, 09:55:51 am »
We've painted ourselves into a corner with the adoption of the apps and card payments.Yesterday I got only two street fares in a busy six hours that offered me cash payment.The big tax bills some lads are getting might be encouraging them to stretch a bit further on their new vehicles.Easy to do while it's relatively busy.

Merch Inflation if you include Interest rates is running @ 9.5% thats 40 notes a week less spending power so that 40 comes out of the 120 you had left after your existing commitments Like food rent and Transport costs .That in real terms is a 33% reduction in discretionary spending as that money must come from  what was left over after living costs were deducted .A lot of Covid Savings have now been exhausted .Fuel subsidies are going so more costs of living ,ESB help to go ..And My personal Red Flag Is what Dale from the Book told me .A lot of Tech Jobs to go .That Chat GPT thing will write code and put even more High Paid workers out of work .Ireland depends to much on Tech and Life Sciences for Tax revenues .Too Many Graduates coming out of Colleges and Universities .Think we will see mass emigration over the next three Years .A huge contraction in available money to spend on Drink,Drugs ,Gigs and Gnosh .

Its beginning to look a lot like the 1970 or 80s all over again .This could be the Lull before the Storm .I would be weary of committing to more debt .IF and its a BIG IF the Shinners get power We could be fucked .So far Leo has done away with Gender ,Labour attacked Religion Now Marxism under the Shinners will attack Property .Vulture funds now looking for 10% mortgage Interest on already distressed Loans .The Little bit I know about Economics I would advise make sure you can cover the Morgage no matter what ,add another 2% on top in interest rates above what you are paying now and if you are renting expect a 10 rent increase over the next two years .


There is another Flu in China and nobody is saying anything .Bird Flu is now killing Dolphins and Seals what if it spreads to Fish .The world starves ?Think it was Coola or Watty Opined a few years ago what Fevers or diseases are in cold storage in the thawing Arctic .
"War: a massacre of people who don't know each other for the profit of people who know each other but don't massacre each other."

Offline Rat Catcher

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Re: Business Men V Business Boys
« Reply #16 on: March 17, 2023, 12:13:25 pm »
Horses for courses. I'm not criticising what any man chooses to do with his hard earned. I just don't agree with the tax write off argument. In most cases you're saving 20% of what you spent over a prolonged period of time yet (again I'm not criticising anyone on here or elsewhere) one commonly hears the argument in terms that's make you think you get all the money back in the form of reduced tax bills. Just to be clear Qualifying Expenditure is written off against profit from the trade in question reducing your taxable income i.e. the entire amount is not written off against your tax liabilities, it merely reduces the same proportionately.

 


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