Ireland politics (Part 2)

[Massey]

You’re a bit of a Mitch McConnell I’d say are you.

[Julio_Geordio]

@tallback

It’s a little different which I suspect you knows Firstly we could do it because the ECB enabled it, which they wouldn’t normally do. Secondly it was for a discreet period of time - not to expand annual budgets.

Even despite all that it’s another whack on to our overall debt pile. Interest rates are super-low now but no guarantee that will be the case in the future.

But if you spend say €20bn on infastructure or whatever, that will return say €40bn to the exchequer over 20 years then we should spend spend spend.

Pissing it against the wall is not good, but investing it wisely is well worth going into the red for

[flattythehurdler]

Leo today reckoned increasing corporation tax to 15% will reduce the tax take by 2 billion.
He really is a thick cunt with no confidence in the Irish people.

[tallback]

@Julio_Geordio

@tallback

It’s a little different which I suspect you knows Firstly we could do it because the ECB enabled it, which they wouldn’t normally do. Secondly it was for a discreet period of time - not to expand annual budgets.

Even despite all that it’s another whack on to our overall debt pile. Interest rates are super-low now but no guarantee that will be the case in the future.

But if you spend say €20bn on infastructure or whatever, that will return say €40bn to the exchequer over 20 years then we should spend spend spend.

Pissing it against the wall is not good, but investing it wisely is well worth going into the red for

Yeah I’d broadly agree with that

[glasagusban]

Rates were pretty much zero before covid. Borrowing for capital projects makes sense.

FG have let current spending absolutely balloon with nothing to show for it.

[Julio_Geordio]

@flattythehurdler

Leo today reckoned increasing corporation tax to 15% will reduce the tax take by 2 billion.
He really is a thick cunt with no confidence in the Irish people.

Well if you make your living attracting the types who go wherever tax is cheapest then I think it’s fair to say you might lose a chunk if you change. Not the big boys with big operations, but there’s a lot of shadow shit run through here that’ll run through somewhere else as quick.

We shouldn’t give an inch on tax until they crack down on Jersey, Caymans, Virgin islands, Gibraltar etc they could easily be sorted if there was any desire to do so. Half of them belong to the Brits.

[Crutches]

That 2 billion is to do with BEPS Pillar 1 where tax gets reallocated to the market country, where stuff is actually sold rather than where profits are booked.

[TreatyStones]

This rise is only for companies turning over more than 750m per year ?

[Massey]

You have to spend money to make money

[Julio_Geordio]

@TreatyStones

This rise is only for companies turning over more than 750m per year ?

Ya but there’s a lot of magic shit that goes on, companies making 3bn a year here, can by the flick of a switch be making 3bn a year somewhere else

[tallback]

@glasagusban

Rates were pretty much zero before covid. Borrowing for capital projects makes sense.

FG have let current spending absolutely balloon with nothing to show for it.

I agree largely that borrowing for CapEx makes sense with the caveat that the individual project must make sense and also consideration must be given to capacity issues .

On your second point I’d suggest that while current spending has increased significantly over the last 5 years the deficit was being cut year on year and the budget balanced up to the pandemic. It was being paid for. Also, seeing as large chunks of that spending increase was pay deals for the likes of yourself it’s a little ironic you bemoan it.

[Crutches]

The new rules look at group level not company level, the net is closing so less opportunities to get out of minimum 15% going forward

[Julio_Geordio]

@Crutches

The new rules look at group level not company level, the net is closing so less opportunities to get out of minimum 15% going forward

They’ll find a way. The Double Irish was ended 5 years ago, and it made no odds

[Crutches]

Ya but that was just at an Irish level, this is pretty much worldwide. The next fight moves to what exactly the 15% rate will apply to exactly, think China and Poland have some issues here

[Julio_Geordio]

@Crutches

Ya but that was just at an Irish level, this is pretty much worldwide. The next fight moves to what exactly the 15% rate will apply to exactly, think China and Poland have some issues here

If 140 countries sign there are 50 plus not signed. It will definitely make it harder, I’m actually all for it, but the cunts making us sign it won’t enforce it at all when it suits them. There’ll be sweetheart deals all over the shop while we have our hands tied by EU regs

[dodgy_keeper]

Pierre and Fritz clicked their fingers and we folded.

We’ve given them our fish and now we’ve ceded another of the few economic advantages we had.

[glasagusban]

Your last point is small and petty and incorrect.

On the runaway spending all the while storing up a housing crisis, a worsening health care system, worsening education system, and missing every climate target and with no asset to show for it, it’s hardly laudable, is it?

[Crutches]

Ya be interesting to see how it all plays out

[Biff_Egan]

The overspend by recent governments was a predictable capitulation to special interest groups and was paid for by savings on debt interest and unexpected corporation tax receipts, neither of which can be expected in the future.

[glasagusban]

The fiscally prudent party using windfall gains to cover the runaway spending that resulted from their policy choices.