Why Ireland May Soon Have to Say Goodbye to the Low Tax Rates That Made the Nation Rich

Why Ireland May Soon Have to Say Goodbye to the Low Tax Rates That Made the Nation Rich By John Phelan In 1988, The Economist magazine ran an article on Ireland titled “The poorest of the rich.” The title was well-deserved. That year, Irish per capita GDP was just 70 percent of the figure for the United Kingdom and 52 percent that of the United States. The unemployment rate was 16.2 percent compared to 8.5 percent in Britain and 5.5 percent in the United States. Irish government debt amounted to 85 percent…

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