Posted by Scott on May 7, 2009, 7:21 am, in reply to "Maybe Obama NOT so good for Ireland?"
159.134.204.130
Yes, this was discussed in Ireland before the election and I wrote about in the November newsletter.
Ireland's case is that this isn't just a sunny money laundering tax haven. (Certainly not sunny!) Real jobs are generating real value in Ireland and contributing to the global economy. Any monies repatriated to the US are taxed in the US.
The top IDA guy is in Washington right now lobbying on this and initially it looks positive that Ireland will be spared the worst of whatever's coming.
The Obama economic team knows that what really killed the 30's was protectionism. I do hope that they'll be doing what they've been doing so far - trying to balance things. These guys, as we've seen, are not idealogues.
Scott
--Previous Message--
: I'm not a dem or rep. I vote with my
: conscience!
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: Just kidding to anyone who is offended but
: this would definitely affect things.
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: http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5279912/Obamas-bold-tax-changes-could-hit-Dublin.html
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: Obama's bold tax changes could hit Dublin
: Barack Obama has gone Celtic Tiger hunting.
: Perhaps he did not realise it at the time,
: but a consequence of the US President's bold
: new tax policy may be to inflict a
: devastating blow on Ireland's economy.
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