
the staff of the Ridgewood blog
Washington DC, Ireland says no to Treasury Secretary Janet Yellen’s dream of a global minimum corporate tax .
Yellen wants a 15% international minimum tax in every country and of course the socialist, high-tax Europeans love the idea of a global tax cartel to eliminate tax competition.
But the country with the lowest corporate tax is Ireland. Here is how Irish minister for finance Paschal Donahue responded to the global tax scheme:
What is on the table is an agreement that we cannot be part of…
We are committed to the negotiation to see if we can enter the agreement at some point, but I’m making the case for our 12.5 per cent, it has been a key feature of our economic policy for decades and I’m so committed to it that I decided we couldn’t enter into the agreement.
Ireland has gotten rich off of its 12.5 percent rate as capital has come into Dublin like a tidal wave.
Great idea… cede all of America’s strength and riches to other lesser countries.