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I really can't think of anyone on this site whole would describe Fine Gael as "just groovy". And we've been busy ranting about the Irish system for years - generally in response to the stupid claims by EU leaders about how great it was and how wealthy it had become on light regulation and low taxes. How many times have I pointed out that the main thing going on before the before the boom got silly (mid 2000's?) was catch up due to infrastructure spending by the EU and favorable demographics?

The Irish tax system needs restructuring, but the problem wasn't so much that the rates were too low but rather that they were too dependent on cyclical spending - and construction in particular - and that should have been fixed when we had the money sloshing around to do it. Raising personal taxation rates in a depression is not an especially good plan. Neither are massive government cutbacks, of course.

by Colman (colman at eurotrib.com) on Sun Aug 14th, 2011 at 08:10:23 AM EST
[ Parent ]
I was thinking more of the other irish commentator. And no, I won't waste my time seeking old comment threads. I know ET sometimes has a somewhat exaggerated notion of its own importance, but that isn't worth the time.

And irish taxes in relation to gdp are below the average. And that is a problem. Now you argue with GNR and the gap between GDp and gnr in Ireland. But that just proves the status of Ireland as a tax haven.

by IM on Sun Aug 14th, 2011 at 09:00:40 AM EST
[ Parent ]
I meant, you (generic) could argue with gnr. You  dind't do it.
by IM on Sun Aug 14th, 2011 at 09:02:01 AM EST
[ Parent ]
Ok, then I'll assert that you're mixing up comments made elsewhere with comments here.

Irish taxes are a bit low, but so's spending, generally. Which isn't what the debate in Ireland says, of course, but there you go. The conventional wisdom is of a high tax, high public spending economy - which is total bollocks when you look at the numbers.

by Colman (colman at eurotrib.com) on Sun Aug 14th, 2011 at 09:29:28 AM EST
[ Parent ]
I know ET sometimes has a somewhat exaggerated notion of its own importance,


'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Sun Aug 14th, 2011 at 11:19:53 AM EST
[ Parent ]


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