Yes, there is a pot of gold!

Taxing multi-millionaires would raise €48 billion.

Just came across this from the Irish language paper Gaelscéal. Well worth a read for anyone who has the cúpla focal.

Analysing this year's Irish Independent Rich List, the author concludes that taxing income over €1 billion at 100% (i.e. taking all of it) would raise over €11 billion - twice what Lenihan wants to cut in the budget. But bringing that figure down and taking all wealth over €25 million would raise more than €48 billion. That's over half of what the IMF/EU are 'giving' us, and would still leave a lot of obscenely rich people around.

The article is written by the same person who wrote the recent TG4 series on the Easter Rising.

Unfortunately, just below the article is one by a right-wing economist saying there's no alernative to cutting social welfare, but ignore that.