What do Tax Exiles Contribute to the Irish Economy?

[anewbeginning]

In my view there is an incredible myth being sold to the Irish people that Tax Exiles create lots of jobs in Ireland and closing the Tax Exile Loophole would mean they would just move elsewhere and shut down their Irish operations.

Maybe it's time to do an analysis of what they contribute. In my view, it's very little.

Multinationals, usually large US ones employ directly and indirectly hundreds of thousands of poeple in Ireland. Closing the Tax Exile Loophole would not affect those jobs as those who manage multinationals in Ireland are not Tax Exiles and are not super rich.

The Public Sector employs 350,000 and closing the Tax Exile Loophole would not affect these jobs either.

Small and medium sized enterprises, with employee numbers of less than 50 employ the vast majority of people in Ireland, perhaps over a million.

Their managers again are not super rich and are not in 99% of cases tax exiles.

Closing the tax exile loophole would not impact on farmers none of whom are tax exiles.

So now we get to the business of Tax Exiles. We have a few newspaper and media moguls. I would say between them they employ a 1000 people. If they decided to pull out of Ireland we may lose a 1000 jobs, but to be honest if the loophole closed I don't think they would pull out of Ireland.

What the other tax exiles do is beyond me. We have a few in the Financial Services Industry. Again we have a massive Financial Services Industry with large banks such as CitiBank, etc a part of that. The owners and managers of these multinationals would not be affected by the closing of the Tax Exiles loophole.

A few Irish 'financiars' might be affected but even if they pulled out it might cost at most a few hundred jobs.

If there are tax exiles in the horse-racing industry which I am not sure there are, they wouldn't leave Ireland, because Ireland's environment is one of the best in the world for training and breeding horses. And those who have the skills would still remain here and train horses for Saudi Sheiks and others.

Contrary to popular myth, Tax Exiles in my opinion make up about 1% of the Irish Economy. Closing the Tax Exile Loophole would have a tiny tiny impact on the Irish Economy and if it rakes in a couple hundred million in taxes every year, it's well worth closing.

We should not be setting up policies to suit scumbag non-patriots who are willing to exploit our resources yet unwilling to pay tax. The only reason I can think of why the Tax Exile Loophole exists is because corrupt politicians set it up after getting brown envelopes from their friends.

It needs to be closed and closed at the next budget, otherwise the rich are escaping scot free while the rest of us get screwed by corrupt FF.

[toughbutfair]

I've never heard anybody support tax exiles

Bono of course gives us his wisdom which is obviously priceless

[anewbeginning]

I've never heard anybody support tax exiles

Bono of course gives us his wisdom which is obviously priceless

I lost all respect for Bono and other the 3 in U2 when they refused to pay tax when the Artists Loophole was restricted and instead moved their operations abroad.

It's hard to have respect for people who have such contempt for the rest of us and won't shoulder a tax burden they can afford.

[Mr Boxing]

[QUOTE=anewbeginning;1838932]I lost all respect for Bono and other the 3 in U2 when they refused to pay tax when the Artists Loophole was restricted and instead moved their operations abroad.

It's hard to have respect for people who have such contempt for the rest of us and won't shoulder a tax burden they can afford.[/QUOTC


Wouldn't blame them there. Most people in their position would probably do the same.

[irish_bob]

I lost all respect for Bono and other the 3 in U2 when they refused to pay tax when the Artists Loophole was restricted and instead moved their operations abroad.

It's hard to have respect for people who have such contempt for the rest of us and won't shoulder a tax burden they can afford.

u2,s move was incredibly unpatriotic

[Mr Boxing]

u2,s move was incredibly unpatriotic

I totally agree with you on that but U2 are running a business and a very expensive one at that. Most business look at ways of saving money and unfortunately for us U2 moved out. At the end of the day it was a business decision right or wrong.

[toughbutfair]

I totally agree with you on that but U2 are running a business and a very expensive one at that. Most business look at ways of saving money and unfortunately for us U2 moved out. At the end of the day it was a business decision right or wrong.

Don't forget he didnt pay a penny income tax on his royalty income when he was living in Ireland.

My disgust with him isn't that he made the tax move (which I'd probably do if I was him) but that he lectures the government on how much tax money to give the third world.