Madam, – Once again it appears the Government is being urged to call on the ordinary home-owner to bail it out of a problem of its own creation (“Residential property levy mooted”, The Irish Times, January 30th).
Not only would it be outrageous to tax home-owners even further – most of us paid a pretty significant stamp duty, after all – but it also seems, at best, disingenuous to tax people who are already struggling to repay mortgages.
Surely this would only add to the financial strains on home-owners, which in turn may lead to increased number of mortgage defaults.
That in turn would further damage our ailing banks, worsening the vicious circle of our financial crisis.
Should we not expect something a little less simple-minded? – Yours, etc,
Madam, – I find it highly ironic that the very measure which could have stopped the housing market from over-inflating during the boom years – a property tax – is now touted as a solution to the crisis in the public finances. Is this economics for slow learners? – Yours, etc,