Recession bites hard in Ireland:

http://www.businessweek.com/magazine/content/10_08/b4167050028125.htm

and yet,some of our people are still queuing up to go to Ireland

Ireland was the poster child for American Conservatives who pointed to their very low tax rates as evidence that Yankee should keep cutting taxes, regardless of the fact that the Laffer Curve does obey the law of diminishing returns - Ireland obviously crossed that nadir!


Now that the Irish somnambulists have been jolted back to reality and forced to raise taxes to deal with the fall out of the recession, we can see the gains of their low-tax regime being wiped out as companies disinvest in Ireland.

With a deepening deficit due to lower revenues and higher expenditure, it will be a rocky ride back to recovery for the erstwhile Celtic Tiger.

@Ibime

You are quite a raving ignoramus. How is the present economic crises down to taxation? Yes, Ireland's low corporation tax was hailed around the world but I'm not aware it has been raised. Greece has virtually double Ireland's corporate tax rate, is Greece any better than Ireland?

Only a foo'l will take a particular period in history as sufficient to judge the quality of an economic philosophy. So after Ireland has enjoyed decades of economic growth, after decades of statist economic policy left Ireland poor compared to the rest of Europe, a few years of recession suddenly means that the economic policy that underpinned the breakneck growth is fatally flawed? Do yourself a favour, go and enlighten yourself a bit more or stick to hip-hop.

PS: Why did you fail to note that Ireland is cutting spending drastically?

I love it when two or more internet jar-heads talk economics. I have no idea what they are talking about, but it will be interesting and at the same time confusing to read lol.

4 Play:

@Ibime

You are quite a raving ignoramus. How is the present economic crises down to taxation? Yes, Ireland's low corporation tax was hailed around the world but I'm not aware it has been raised. Greece has virtually double Ireland's corporate tax rate, is Greece any better than Ireland?

Only a foo'l will take a particular period in history as sufficient to judge the quality of an economic philosophy. So after Ireland has enjoyed decades of economic growth, after decades of statist economic policy left Ireland poor compared to the rest of Europe, a few years of recession suddenly means that the economic policy that underpinned the breakneck growth is fatally flawed? Do yourself a favour, go and enlighten yourself a bit more or stick to hip-hop.

PS: Why did you fail to note that Ireland is cutting spending drastically?

hehehehe. . . . I only posted in this thread because I knew you'd be here in a flash. . . . . I remember you harping on about Ireland's low tax rate last year so I said lemme see what 4Play has to say now.  . . anyway, Im just being mischievous.