Ireland's Super Wealthy Class Doubles, while ordinary working people pick up the tab

Added: 2026-05-06

[00:00:00]Hi everyone. The latest report from Revenue has revealed some very astounding results in relation to the wealth in Ireland.

[00:00:09]It has reported that there are now 1,885 people in Ireland with a net worth in excess of 20 million euro.

[00:00:20]This is at the same time when so many people are struggling with the cost of living disaster. Not to mention more and more people being driven into poverty and deprivation. And wait for keeping the wages down. That's part of the big mass immigration agenda, isn't it? So those at the very top can eat can hoard up more money being transferred from ordinary working people.

[00:00:42]But these latest revelations are just nothing new.

[00:00:47]Over the last few years, we've seen an exponential increase in those net high net worth individuals in Ireland.

[00:00:53]Back pre-COVID there were around 1,000 people with a net worth of over 20 million euro.

[00:01:00]And now that's nearly doubled within the last 5 to 6 years. And it's still due to increase estimated by about 13 to 14% over the next 3 to 4 years also.

[00:01:13]But COVID provided a cover for the greatest transfer of wealth towards the billionaires and the very wealthy here in Ireland also. But ordinary people carried the can.

[00:01:23]And at the same time, we've already seen the Irish government pursue this model of supporting multinationals. According to the International Monetary Fund, surprise, surprise, it said that Ireland will be the wealthiest country in Europe by 2030 according to gross domestic product.

[00:01:46]GDP for short.

[00:01:47]Now, we all know that's based on leprechaun economics, which is essentially where multinationals and many global corporations book their profits into Ireland and to avail of the lax taxation regime for those at the very top.

[00:02:08]Interesting, isn't it?

[00:02:09]This is at the same time where a third of taxes, corporation taxes, which is estimated at 35 billion euro this year, comes from three, United States, multinationals.

[00:02:21]So part of the agenda is to funnel money upwards to have the international investors make money and also men in Ireland make money from it also. We've seen that with many, many industries that I can go on and talk about through housing across to the mass immigration industries to many, many more.

[00:02:40]This is at the same time where the country is laid down with debt like many, many other countries right across the world.

[00:02:50]Now, the current debt in Ireland is about 200 and what, 13 billion euro. Now that's estimated to be about 40,000 euro for every man, woman, and child.

[00:03:02]And most of this debt is owned by private hands. The vast majority.

[00:03:08]And the vast majority of government debts are owned by international investors on government bonds also. Isn't that interesting?

[00:03:17]So so much for having everything in public ownership or for having sovereignty or having control of our own destinies.

[00:03:24]This seems to be something far removed from the Irish political establishment because it's all about private ownership and enhancing the coffers of the the life insurance companies and the private investors making money of what's taken place in terms of the massive amounts of debt.

[00:03:45]And this year it's estimated to about 4% of total expenditure in Ireland will be paid off on the interest on those debts.

[00:03:53]And who owns the debts?

[00:03:56]It's those high net worth individuals, isn't it?

[00:03:58]The ones at the very top of society. At the same time in Ireland, 11 billionaires have the same wealth as two-thirds of the Irish population.

[00:04:07]Absolutely astounding. Nobody talks about a proper wealth tax, redistribution of that wealth. That's never spoken about in Ireland because uh it's about keeping the gravy train going for so many profiting from the misery of others. So rather than reducing the interest rate on the debt, that should be spoken about, but it never is because the money's always being paid back to those investors and so-called bondholders. Remember the time of the financial crash when the Labour Party at the time was saying that they should burn the bondholders. But what happened? They went into the government and they just uh closed ranks and went along with the EU narrative in terms of the horrific austerity imposed on the people of Ireland, which led to a sell-off of many of our natural resources. And as well as that, the introduction of vulture funds to wreak havoc on people's lives here in Ireland.

[00:05:07]So they won't talk about reducing the interest rate on this debt, the unsustainable debt.

[00:05:13]And as well, they won't talk about the fact that this debt is unearned income. Like what does it produce?

[00:05:22]Absolutely nothing. It's actually parasitic in nature, which is the same as unearned income people would make from property for instance in terms of the artificial and manufactured rental market we have here in Ireland.

[00:05:37]Also. So rather than talking about, as I said, a redistribution of that wealth and looking at a wealth tax, they've no interest in addressing that because that's exactly how the system works.

[00:05:48]It benefits those in the artist classes for instance, who are profiting from what's taking place, like these high net worth individuals. And also filters down to those in the top 1% with individual incomes of well over 100,000 euro. While ordinary working people pay extortion amount of their income in taxation.

[00:06:06]Those on fixed incomes pay a massive amount on taxation in terms of spending more.

[00:06:13]And through VAT and various other mechanisms as well, rather than the super wealthy and the super rich, who don't. And this comes at the same time they are from May Day for instance, where the workers of the world were supposed to unite. But due to the industrial relations act of 1990 in Ireland, the unions have completely capitulated to that demands of big business and the employers, the ones that the political establishment in Ireland represents.

[00:06:43]So this is what takes place in Ireland. And they talk about perhaps a change in government will be a change in rearranging the chairs on the Titanic because unless you go about addressing the underlying systemic issues of what's taking place in terms of the debt fuel crisis, which is going to implode the world eventually.

[00:07:00]And who benefits from this? Well then, you're really not talking about reality. Rather than taking on those who are benefiting from the misery of others.

[00:07:15]So thanks so much for the support. And really appreciate the support on my videos, the shares, the hypes, the likes as well. So I'm double today. So long and a fall. See you all soon. Take care.