Are we all fucked?

[astfgyl]

I agree but we need to go harder on both the corporations and the governments. They are getting away with murder.

[Ollkiller]

I agree but we need to go harder on both the corporations and the governments. They are getting away with murder.

100%.

[hellfire]

I read yesterday that Ireland's low corporate tax rate was set up at a time when corporations wouldn't have located here otherwise. I'm pretty sure a lot of them will pull out once it goes up, probably not all.

[Ollkiller]

I read yesterday that Ireland's low corporate tax rate was set up at a time when corporations wouldn't have located here otherwise. I'm pretty sure a lot of them will pull out once it goes up, probably not all.

If the rate went higher than 15% then it's more likely but at 15% I don't see many moving. Too much money invested and we do have a fairly high skill level in the workforce.

[Black Shepherd Carnage]

Originally, the loophole was there because otherwise those corporations wouldn't be in Ireland in the first place, and you can see in that article to what extent they have come to dominate employment:

The new rate would apply to 1,556 multinationals based in Ireland, employing about 400,000 people.

As someone else suggested, serious change would require international law to impose minimum corporation tax, otherwise they will up and fuck off as soon as it is potentially beneficial to the shareholders, have no illusions about that. Direct knock on effect of those corporations moving here following the drop to 12.5% corporation tax in 1999 is that Ireland became an increasingly attractive place for people to migrate to. So if the multinationals did up and leave due to raising corporation tax by "too much", then just like 30,000 Poles per year after the property bubble burst, it'd be bye-bye to a huge portion of the country's immigrant population too.

[Black Shepherd Carnage]

This is grim as fuck. Not sure which is worse, Supermac's advertising jobs in Dublin with "accommodation included" (you just fucking dread to imagine), or 4 (!!!) months of energy bill payment being offered as a prize on TV:
https://twitter.com/scottygb/status/1566748685341425664

Gas these lizards, all of them, truss them up and gas them.

[astfgyl]

That is fucking grim as fuck

[Caomhaoin]

Mike Martin's comments about energy bills would make you want to shoot the fucker. Scumbag. 'Shock and awe'. Fuck off.

[hellfire]

https://www.irishexaminer.com/news/politics/arid-40956101.html

Just going back to the corporate tax rate for a second.

[The Butcher]

The Irish Fiscal Advisory Council (IFAC), chaired by UCC economist Seamus Coffey, warned losing just one of the bigger multinationals would leave the State with a €276m hole in its corporation tax revenue.

According to Revenue, foreign-owned multinationals paid 80pc of all corporation tax last year, totalling €8.2bn.

In a report issued in April, Revenue said the top 10 payers of corporation tax accounted for almost 40pc of that total.

This was back in 2018. Huge reliance on corporation tax revenue by FG post 2011, similar to FFs reliance on stamp duty back in 2007/bubble era. We replaced the Celtic tiger house of cards with corporate vulture puppet strings.

[hellfire]

I know Sinn Fein has been pushing this business of taxing the hell out of corporations for years now. They won't stay. It's much the same as the whole tax the rich nonsense. Sure, punish the people who pay the most tax and have a greater ability to relocate than most. Watch the banks dry up 2008 style.

[Black Shepherd Carnage]

They pay the most tax also in part because the rest of the economy, notably the genuinely domestic economy, is underdeveloped.

[Ollkiller]

I know Sinn Fein has been pushing this business of taxing the hell out of corporations for years now. They won't stay. It's much the same as the whole tax the rich nonsense. Sure, punish the people who pay the most tax and have a greater ability to relocate than most. Watch the banks dry up 2008 style.

Sinn Fein will promise the stars but once in government will row back on a lot of promises. They wont kill the golden goose. As regards the banks lending may reduce alright but they are not fucked like they were in 2008.

[hellfire]

Mass layoffs and the resultant unpaid loans would put a dent in both the banks and the state finances. I couldn't predict exactly how bad it would be, but pretty bad anyway.

[warhead]

This is grim as fuck. Not sure which is worse, Supermac's advertising jobs in Dublin with "accommodation included" (you just fucking dread to imagine), or 4 (!!!) months of energy bill payment being offered as a prize on TV:
https://twitter.com/scottygb/status/1566748685341425664

Gas these lizards, all of them, truss them up and gas them.

Just give it til Winter, and the jobs advertised will not even be offering money anymore. They'll be saying:"amazing opportunity, come work for us and you'll get the heating at your workplace during entire duration of your shift. Right candidate could be allowed to work 12 hours per day, everyday".