The National Organisation for the Unemployed has said that abolishing major tax-breaks for high earners and introducing a wealth tax would eliminate over half the €15bn deficit in public finances by the year 2014.
It has pleaded with the Government to introduce no more cuts in welfare payments in next month's Budget.
Launching its pre-budget submission, the INOU underlined the fall of one third in the State's tax-take over the past three years.
Its spokesperson Brid O'Brien said that cutting public spending to address this shortfall would push the economy further into recession.
Instead, her organisation suggests three ways of replenishing the State's coffers.
Firstly, it wants to allow tax-breaks on pensions at the standard rate only.
It says this would tackle the inequity whereby 80% of the State subsidy to pensions benefits the top 20% of earners.
Secondly, it wants income levies and PRSI applied to all income regardless of source and abolish the €75,000 ceiling on PRSI contributions.
Finally, a property/wealth tax should be levied on those earning over €100,000 and who own assets worth over €1m.
Ms O'Brien said these measures could bring in €8.5bn over the next four years.
The INOU's Chairperson, Anne Fergus, who also runs the Money Advice and Budgeting Service (MABS) in Galway, said welfare recipients could not take any further cuts as they were finding it difficult to survive on what they were getting.
The submission says welfare payments should be maintained at least at current levels.
