There was an interesting report on the News Hour tonight. The transcript should be up later and I will add it.
Remember when John McCain and every other Republican used Ireland’s corporate tax policy as an example of how US corporate taxes are too high? Oh yeah, that was last year and things have changed.
The Irish economy boomed through both subsidies and low tax levels. Business boomed. Poles immigrated to Ireland and got jobs. Everybody had work. But then the companies that the Irish government had lured found they could pay lower wages in places like Poland, closed shop and left many Irish out of work. There was a building boom, too, but it didn’t last either.
It seems that the Polish government made lower taxes, subsidies and lower wages work for them, too. Many Poles went home and some Irish workers immigrated to Poland, following the jobs that had left Ireland. And working for less money.
So, in the end, sure, the US sure have a corporate tax structure like Ireland. That works right in with the current GOP wish list: they want the stimulus to fail; they want Obama’s policies to fail; and at least Dick Cheney seems to want a terrorist attack, just so they can all say: WE TOLD YOU SO.
Until everything is completely in the crapper. Then someone like Newt or Sarah Palin can pop up and say, “Elect me!!!!!!”