Another picture, using the latest Exchequer returns, to illustrate the extent to which the tax collapse is disproportionately concentrated in just three taxes: Corporation Tax, Capital Gains Tax and Stamps. These fell by 56.5% in the first quarter of 2009 relative to the same quarter of 2008. The percentage fall in the remaining taxes was “only” 16.6%. This figure is in nominal terms–no deflation.
For a longer perspective, scaled by GDP, and showing just how systematically reliance switched to these boomtime taxes over the years — and away from the baseload taxes, take a look at the following:
(NB: recall that, because based on Exchequer returns, these do not include PRSI, etc).