Ireland's tax machine remains in top gear. Could tax cuts be self-financing? Global house prices dropping. Commercial property now a big concern. Is OPEC worried about global growth?
US labour market shows first hint of weakness.
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Great discussion again.
I too get very annoyed that I pay considerably more tax than comparable countries like the UK whilst seemingly getting very little in return. I have to purchase private health insurance for example, as I watch a ridiculously costly children’s hospital getting built. But am I just a whinge complaining about my first world problem?
I think the laffer curve is incredibly difficult to measure. I’m not sure how Chris definitively priced its non-existence. Are we not seeing something similar to the laffer curve with the great resignation? We made extra work so penal and doing diddly squat so attractive that nobody wants to work anymore? Is it not a variation of the laffer curve that makes communist countries like Cuba so unproductive? Perhaps Chris’ point is a percentage point here and there doesn’t make a huge difference, but I would have thought the laffer curve is evident at the extremes.
Disingenuous i reject totally. I have argued for years that the threshold at which one starts to pay the top rate of tax should be lifted to at least 50,000. I feel even stronger about that today. I think the positive attribute of the USC is that it broadens the tax base and as such should not be abolished. I suggested back in 2009 that the corporation tax rate should be lifted by 5%, at least on a temporary basis, but i got pilloried from all sections, particularly the IDA. I would have no problem with a 15% corporation tax rate for all companies, not just those with turnover in excess of 750 k. FF, FG, Labour and SF not interested in such a suggestion. Not sure where you come up with the description of disingenuous. Will discuss in next pod. Thanks for thoughtful comments.
Jim