Really? Is that all you got out of it? Is that what I said? Or could it be that Ireland might have contributed to painting itself into a corner? And you don't see any parallels here at all?Quote from Maverick74:
So let me get this straight Michelle. You are citing the lower tax rates for the economic problems of Ireland not the biggest property bubble in the history of their nation? Am I reading that correctly? Talk about suffering from first order thinking. Sheesh.
Quote from Brass:
Really? Is that all you got out of it? Is that what I said? Or could it be that Ireland might have contributed to painting itself into a corner? And you don't see any parallels here at all?
So should Ireland start cutting taxes to fuel its economy and attract more capital?
(Is Max your economics tutor?)
Not only does it have the highest level of household debt relative to disposable income in the developed world, but its national debt is also quite significant. This just in: Ireland was not the only country on the planet affected by the asset bubble. So it would appear that having among the lowest tax rates has not done much for its economy relative to other, higher taxed countries. The good times were relatively illusory and fleeting taken in the context of the bubble that fueled it.Quote from Maverick74:
Straight from Wikipedia:
A 2005 study by The Economist found Ireland to have the best quality of life in the world.[14] The 1995 to 2000 period of high economic growth led many to call the country the Celtic Tiger.[15] One of the keys to this economic growth was a low corporation tax, currently at 12.5% standard rate.
The Financial Crisis of 2008 still affects the Irish economy severely, compounding domestic economic problems related the collapse of the Irish property bubble. Ireland was the first country in the EU to officially enter a recession as declared by the Central Statistics Office.[16] The ESRI recently predicted that the Irish economy will not significantly recover until 2011.[17] Ireland now has the highest level of household debt relative to disposable income in the developed world at 190%.[18] The economic climate has led to resumed emigration.[19]
Quote from Brass:
Not only does it have the highest level of household debt relative to disposable income in the developed world, but its national debt is also quite significant. This just in: Ireland was not the only country on the planet affected by the asset bubble. So it would appear that having among the lowest tax rates has not done much for its economy relative to other, higher taxed countries. The good times were relatively illusory and fleeting taken in the context of the bubble that fueled it.
And I will ask you again, because you didn't answer the first time: Should Ireland start cutting taxes to fuel its economy and attract more capital? (Since you asked me "specifically" whether tax policy affects decision making.)
I agree that tax cuts don't fit well with spending increases. But here is the deal. Wherever the companies relocate in the US, they will still remain in the US, thereby paying US federal taxes. It is Obama's federal taxes that you are so much against and are so vocal about. They would be a constant across the country, right?Quote from Maverick74:
...Are you going to tell me people are not leaving CA in droves because of high taxes? Are you going to tell me that people of means are not moving to NV or TX for tax reasons? Are you telling me the max exodus of corporations from the north to the south has nothing to do with tax policy? Are you going to tell me that tax subsidies do not impact people's decisions? Are you going to tell me that people don't make investment decisions around tax policies?