Quote:
Originally Posted by SpiritWarrior
Ireland also gives major breaks and grants to companies investing in this way where many other countries do the opposite. I guess, the system encourages businesses to sprout up rather than punishing them. Some are now saying they have been too lenient with these big corporations like Intel. So yeah, naturally, there's some uproar about them wanting to hike up rates.
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Some would view Ireland's nosedive toward zero taxes and regulations on many industry sectors as a kind of "dumping." In your typical dumping scenario, a commodity is sold at below market, or even cost, prices by an importer in effort to kill a local competitor. Then, once the competitor is out of business, they control the market. Ireland's slashing of corporate taxes and regs is, some could say, a type of bribe to get industries to move there. It worked, and Ireland got lots of companies to relocate, particularly many pharmacy companies. But, when you do that, you're riding on the bubble, and when the bubble bursts you find out that there's no money to keep financing such bribery.