Aidan Regan: The corporate tax boom is papering over Ireland’s narrow tax base
Politicians should not forget that Ireland is an offshore island economy of the United States when considering any income tax cuts in the upcoming budget
No other liberal capitalist democracy has a tax base as highly concentrated among high-earners and super-rich multinationals as Ireland.
It is high-risk, unsustainable, and an invitation for politicians to do some very stupid things, such as cutting income taxes and further narrowing the base.
Without the boom in corporate tax, Ireland would be running a fiscal deficit. This means that in the forthcoming budget, the government would have to borrow or raise taxes to pay ...