Ireland Tax Reform The Irish corporate tax rate is 12% and the actual level collected is 11.9%. This is above the actual amount collected by either France or Germany when you take into account exemptions available in those countries. Some 25% of French companies manage to pay no corporate tax. By keeping the headline rate low and the system very simple it makes it hugely attractive for business as you are not reliant on exemptions. It is such an integral part of Ireland’s industrial strategy that it would cause a huge drop in government revenue. Minimum wage cut and more taxes for the lowest earners won’t make Ireland more progressive. I don’t think every other EU country by trying to attract companies to move to Ireland on the basis of lower wages and lower corporation tax than other EU countries. My personal suggestion is corporate tax should be higher in the long term.

US BUDGET 2011 President Obama still does not get right budget in this financial year (2011) too. I have said so earlier; more taxes and regulations make the situation worse than better. If you want to trim the deficit, you should pursue the process of net expenditure cutting and wealth creation.   The three big federal spending areas are defense, SS pensions (increase the retirement age and reduce the pensions paid out to retired officers) and healthcare. Federal has to cut spending across these areas to trim the deficit. Real cost saving reforms of healthcare from tort-reform to fewer incentives for the health professional industry to overspend at taxpayer’s expense. Reduce the US involvement in foreign affairs. I strongly advocate in Swiss Style budget balance amendment which eliminates deficit in the good times but allow deficit spending in bad times. A reduction in regulatory costs stimulates business growth especially small business growth. A simplified tax code prefe...