Lucinda Creighton

Sorry, 52%.

So if you receive a bonus in your job or if you're self-employed and you have a particularly good...

or whatever, more than half of that cash goes to revenue.

In Germany... Of your marginal earnings.

In Germany, for example, you enter the higher marginal rate of tax at almost €280,000.

In Ireland, it's €46,000.

In France, it's about 190,000.

We are so far out.

We think that we are a progressive economy when it comes to taxation.

We are deeply uncompetitive and we are penalising people who are not even median income workers.

It can't get any higher, Brandon.

Oh, it can, and it has been historically.

52% of anybody's income is quite sufficient to pay to the state.

No, what you need to do is tax capital, not labour.

You tax capital.

That's how the rich become richer and richer and richer.

It's through capital investments.

It's through the ownership of assets.

There are nuances to it.

But certainly in terms of assets in this country, if you tax assets properly, you have much more latitude in terms of taxing labour.