Cut Ireland’s minimum wage? Check. Collect more in property taxes from beleaguered homeowners? Check. Raise the corporate tax rate, which could plug the gaping hole in Ireland’s tattered balance sheets even faster? Well, no....
>>>Cut Ireland’s minimum wage? Check. Collect more in property taxes from beleaguered homeowners? Check. Raise the corporate tax rate, which could plug the gaping hole in Ireland’s tattered balance sheets even faster? Well, no.
The austerity plan Ireland unveiled on Wednesday to secure a bailout from its international partners makes one thing clear: much of the 15 billion euros (or $20 billion) in savings the government has pledged to find over the next four years will come from the welfare state and the working class. But the measures will not touch large businesses like Microsoft, Intel and Pfizer, which have created thousands of jobs and fueled exports in Ireland for years, thanks to one of the lowest corporate tax rates in Europe.
[read more about Ireland's tax structure]
http://www.nytimes.com/2010/11/26/business/global/26tax.html
