The Graveyard Of Right Wing Narratives - What's Up With Ireland, Corporate Tax Cut Utopia?

[TomCADem]

Remember how the McCain campaign in 2008, and Republicans in 2009, spoke glowingly about Ireland's law corporate taxes, and how the U.S. should follow Ireland's example to end the recession? You would think that the media, which repeated these talking points again and again would follow-up on Ireland to see if Republican policy wonks were correct about the Ireland's low corporate taxes.

Well, the answer is not so much, which is why this story is largely ignored:

http://www.reuters.com/article/idUSLDE68010V20100901

"There were some signs of strength in the first quarter of the year but they seem to have reversed over the subsequent four months," said Dermot O'Leary, chief economist at Goodbody Stockbrokers. "We're seeing a renewed bout of weakness in consumer spending."

The Central Statistics Office said August's estimated unemployment rate was 13.8 percent, up 0.1 percentage points from the previous month and compared with 12.9 percent in the first quarter of 2010, the last period for which official data is available.

The weakness of the domestic economy and the mounting cost of the bank rescue is a major threat for the stability of Prime Minister Brian Cowen's unpopular coalition government.

After loading up on credit during the go-go years of the "Celtic Tiger" economy, increasing numbers of homeowners are falling behind on their mortgage repayments due to unemployment and rising interest rates.

[applegrove]

1. I posted the same thing a few weeks ago. Apparently the NYTimes did a piece

on it. But I haven't seen Ireland in the news like it used to be. The same groups used to always post about Germany and its high unemployment rate. In the last few weeks there has actually been talk of Germany and how great it is doing. I doubt if it has made it to the 'free republic' as a topic.

[billlll]

2. RW "U cant tax business .... they pass it on in price hike"

Answer

"Competition limits that"

Seek more good replies to RW types.