Ring of Conservative Sites Ring of Conservative Sites
JOIN!

[ Prev | Skip Prev | Prev 5 | List |
Rand | Next 5 | Skip Next | Next ]

Wednesday, June 29, 2005

The Irish Are The EU Giants!

Thomas Friedman writes today about the Irish economic miracle. Friedman writes:

Ireland went from the sick man of Europe to the rich man in less than a generation... It tells you a lot about Europe today: all the innovation is happening on the periphery by those countries embracing globalization in their own ways - Ireland, Britain, Scandinavia and Eastern Europe - while those following the French-German social model are suffering high unemployment and low growth.

To Friedman the story is all about globalization. But the reason companies are in Ireland is their corporate tax rates! The story of Europe is the move of companies from France and Germany to Luxemborg and Ireland because they can increase profits and invest that additional capital into the business or distribute dividends to investors. It is no secret.

Michael Dell, founder of Dell Computer, explained to Friedman:

Ireland has an industrial and tax policy which is consistently very supportive of businesses, independent of which political party is in power. I believe this is because there are enough people who remember the very bad times to de-politicize economic development.

That is an important statement. A low tax economic policy need not be a political issue. It has been made a political issue in the U.S. because the Democrats have chosen to pursue erroneous economic policies that rely on high taxes, a welfare Leviathan of theft and redistribution and minimal personal responsibility. That has caused free marketers to join the only party connected to the views of Adam Smith, David Ricardo and what is now called libertarians. That does not mean that libertarians have no issues with the Republican Party. But, even looking at the liberal treatment of our rights by the Supreme Court, there is no way people who value individual liberty and natural rights can support the Democratic Party.

Just after Bush became president and began pursuing tax cuts, I was discussing with a liberal friend the positive developments such economic proposals would have on the recession. He told me he disagreed with my politics and did not support the tax cuts. I said, this was not politics. It was economics. In a sense, he was correct. And I guess his political views are wrong.

Basically, Ireland and the U.S. prove the truth of a free market economic approach. Those in opposition look foolish in comparison.

Ring of Conservative Sites Ring of Conservative Sites
JOIN!

[ Prev | Skip Prev | Prev 5 | List |
Rand | Next 5 | Skip Next | Next ]