In what can only be described as utterly devastating for the Irish economy, Joe Biden is pushing hard to get rid of our very attractive low corporation rate and wants to introduce a global corporation tax rate of 15% meaning that Ireland would have increase its rate from 12.5%.
It means that not only would endless numbers of foreign direct investment companies probably pull out of Ireland, but it would almost definitely mean that no new such business would come to Ireland because there would be no incentive anymore of saving money on a low tax rate.
Many people on social media have denounced Biden over his plans but the usual lovies who bent over backwards to congratulate Biden on becoming President and “how good he’d be for Ireland” are extremely quiet.
The irony is that same people will be giving out when thousands of jobs get lost from Biden’s increase demands yet were delighted when he became President in the first place.
Bring back President Donald Trump, anyone?
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