Canada has taken theirs down to 15% over the past few years too. It's too bad we have a major political party in the US that refuses to see the wisdom in doing so here. :(
Trump's plan includes a 15% corporate tax rate, btw. Clinton's adds ALL SORTS of personal income tax increases and leaves the corporate tax rate at 39.1%. On Thursday, July 14, 2016 at 4:32:02 PM UTC-4, MJ wrote: > > > July 14, 2016 > Taxation nation > > *Last year, this country’s economy grew by 26 percentthe reason is low > taxes *Matt Purple, Rare Staff > > That “26 percent” number in the headline isn’t a typo, though economists > at Ireland’s Central Statistics Office surely thought it was. But no: the > Irish economy really did expand by more than a quarter last year. Bloomberg > reports: > <http://www.bloomberg.com/news/articles/2016-07-12/ireland-s-economy-grows-26-as-u-s-companies-chase-lower-taxes> > > > In three days, Jim Power is due in London to brief the British-Irish Trade > Association on the state of the Irish economy. Now, he has no idea what he > is going to say. The economy grew 26 percent in 2015, officials from the > Central Statistics Office told a stunned room full of economists and > reporters in Dublin on Tuesday. Previously, they had estimated growth of > 7.8 percent. “I’m not going to stand up and say the economy grew by 26 > percent,” Power, an independent economist, said after the release. “It’s > meaningless we would be laughing” if these numbers came out of China, he > said. > > Power isn’t the only economist who sounded a skeptical note. Keynesian > bagman Paul Krugman dubbed > <http://www.irishcentral.com/news/politics/Irelands-high-growth-rate-dubbed-leprechaun-economics.html> > > the 26 percent figure “leprechaun economics” on Twitter earlier this week > and questioned the CSO’s formula. At issue is Ireland’s famously low > corporate tax rate of 12.5 percent, which has made it something of an > offshore haven for corporate headquarterslike how many big companies > receive their mail in low-tax Delaware here in the United States. > > This has made Ireland a popular destination for something called > “inversion deals,” in which an Irish company purchases a larger > multinational so the corporation can technically headquarter itself in > Ireland and take advantage of the low tax rate. Problem is, that doesn’t > result in a commensurate increase in employment or spending, even if the > deal drives up the GDP. So, while Ireland might have grown by 26 percent, > consumer spending went up by only 4.5 percent > <http://www.irishtimes.com/business/economy/handful-of-multinationals-behind-26-3-growth-in-gdp-1.2719047>. > > It’s also a small economy, meaning big corporate deals produce ripples that > wouldn’t be felt in larger countries. > > So analogizing America to Ireland is somewhat like comparing apples and > oranges (if you thought apples and shamrocks, you’re a bad person). But > nevertheless, there’s a general principle at work here. Ireland has the > lowest > corporate tax rate > <http://taxfoundation.org/article/corporate-income-tax-rates-around-world-2014> > > in the industrialized world, and that percentage is further halved > <http://www.telegraph.co.uk/finance/budget/11929790/Ireland-slashes-corporation-tax-to-just-6.25pc-but-theres-a-catch.html> > > if your company hires high-skilled Irish workersa sharp idea that’s > encouraged domestic growth. Even if the 26 percent figure is an anomaly, > Ireland’s economy is currently the best in the eurozone: the original 2015 > GDP calculation, which didn’t account for inversion deals, still had it > growing > by almost 7 percent, on pace > <http://money.cnn.com/2016/03/17/news/economy/st-patricks-day-ireland-economy-china/> > > with China. Compare that to 1.1 percent growth > <http://www.business-standard.com/article/news-ians/france-s-gdp-grows-1-1-percent-in-2015-116013000326_1.html> > > in tax-soaked France. > > Not bad for an island nation of 6 million people. > > The United States, at the recommendation of progressive economists like > Krugman, has a corporate income tax of 39.1 percent, the highest in the > industrialized world and the third-highest generally behind only the United > Arab Emirates and that economic powerhouse Chad. There’s a lesson here. Be > assured that our policymakers won’t learn it. > > > http://rare.us/story/last-year-this-countrys-economy-grew-by-26-percent-the-reason-is-low-taxes/ > > -- -- Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. --- You received this message because you are subscribed to the Google Groups "PoliticalForum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
