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Sinn Fein and how do they form a government dilemma

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Comments

  • Registered Users, Registered Users 2 Posts: 30,966 ✭✭✭✭blanch152


    Where did he say that?

    What is 100% clear is that Sinn Fein manipulates the rules and the funding arrangements to ensure that its income is hidden from the public in Ireland.



  • Registered Users, Registered Users 2 Posts: 74,036 ✭✭✭✭FrancieBrady


    You must know they have money hidden to claim this. ^

    Have you brought your information to the relevant people? If they haven't done anything about it then they are failing in their remit.



  • Registered Users, Registered Users 2 Posts: 30,966 ✭✭✭✭blanch152


    "The three topics the international community would say to me about Ireland is talent, housing and stable government policy,” Goddard told the Business Post."

    Now where do Sinn Fein stand on these issues?

    (1) Talent: MNCs need to attract talent to work in Ireland. As the Chair of the IDA has said, Sinn Fein's plans to increase income tax is scaring businesses off. This is a big problem as MNCs will not invest in Ireland if their senior people won't come here because of the high taxes imposed by Sinn Fein

    (2) Housing: MNCs bring a lot of people to Ireland for short periods, for a year, for a couple of years, possibly a decade. Therefore, one of the key requirements they have is a stable rental market with institutional investors. Cost doesn't matter as much as that stability and predictability. Sinn Fein's plans to frighten off institutional investors will not go down well with MNCs.

    (3) Stable government policy: Sinn Fein tell us they are the party of change. You cannot have change and stable government policy at the same time. The whole purpose of change is to destabilise government policy.

    So I cannot understand how Sinn Fein have managed to reassure business leaders. Either they are telling lies to the business leaders, or more likely, they are lying to the Irish people.



  • Registered Users, Registered Users 2 Posts: 74,036 ✭✭✭✭FrancieBrady


     MNCs will not invest in Ireland 

    Unless you can point to back up for this.it is just the same scaremongering we heard before. The article says that they 'have concerns' as any sector would. It mentions nothing about 'not investing'.

    Is nobody investing in

    Denmark

    Portugal

    Austria

    Belgium

    France

    Netherlands?

    There is bound to be some data on this.

    2) How long have we had a housing crisis here? Is there info available on how the current and previous governments housing policy has deterred FDI or caused corporate flight?

    3) You might be de 'stabilised' by the change, but there is no reason that change should cause general instability.

    I think, fair play to SF for taking their policies/intentions to international business and allaying their fears. That's is a very responsible way to proceed.



  • Registered Users, Registered Users 2 Posts: 1,244 ✭✭✭Emblematic


    I would say there's no one policy that should be pursued in all circumstances. In times of high unemployment, a job creation strategy is of utmost importance. In times of full employment, creating jobs may just lead to more demand for resources and driving up rents as people are imported to fill those jobs. Other strategies may be more appropriate.

    In times of housing shortages, bringing more people into the country may not be what is needed. I think the problems in Ireland result from strategies formulated in the 1980s but pursued long past their net benefit to society.

    That is not to say that the MNCs should not be listened to but rather that there is a balance to be made between their needs and the needs of society as a whole.



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  • Registered Users, Registered Users 2 Posts: 74,036 ✭✭✭✭FrancieBrady


    That is not to say that the MNCs should not be listened to but rather that there is a balance to be made between their needs and the needs of society as a whole.

    I agree with this and I think that is what you will find has happened in the countries listed above.

    I think it would be a rare individual who would upsticks solely on the basis of a loss of some income.

    As you say, balance is the key and most people are fine if things are balanced and equitable.



  • Registered Users, Registered Users 2 Posts: 30,966 ✭✭✭✭blanch152


    If change doesn't bring change, then it is not change, (stable government policy is the opposite of change), and Sinn Fein are speaking out of both sides of their mouth again.

    In Ireland, we have had to invent new ways of measuring the economy because the MNC sector and FDI are so large, no other country has had to do that, because we are way beyond them in success of attracting FDI, yet one poster wants to compare us to Portugal for FDI? GUBU stuff.



  • Registered Users, Registered Users 2 Posts: 74,036 ✭✭✭✭FrancieBrady


    The misrepresenting what is being said begins.

    Nobody compared us to Portugal for FDI.

    The challenge was clear. There are countries that have higher personal taxes than us that have no discernible problems with companies refusing to invest or with people taking flight.

    If these things are discernible then I cannot find evidence of them. It's up to those claiming these things will happen to back it up or stand accused of plain old scaremongering.



  • Registered Users, Registered Users 2 Posts: 30,966 ✭✭✭✭blanch152


    There is an awful lot of bizarre nonsense posted on these boards.

    Posters can claim that higher rates of income tax do not deter FDI and then even more bizarrely can claim that they cannot find evidence to refute this. There are some basics of economics and public policy that do not have to be explained every single time a poster challenges them. One of those is that higher taxes harm economic growth and FDI. From the OECD:


    "For instance, Hajkova et al. (2006) found that the impact on FDI of labour taxes is generally substantially larger than that of cross-border effective corporate tax rates (see below)"

    There are hundreds of academic studies that link higher income taxes with lower FDI.



  • Registered Users, Registered Users 2 Posts: 74,036 ✭✭✭✭FrancieBrady


    Why are you avoiding providing the data from the countries listed?

    Higher taxes do deter people, as does societal problems, lack of housing or medical infrastructure, that is a given but as another poster pointed out the key is achieving a balance.

    Those countries listed have found a balance because there is no discernible problem with FDI or with employee flight. If I am wrong simply point it out.



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  • Registered Users, Registered Users 2 Posts: 5,310 ✭✭✭BlueSkyDreams


    I hear your point, but restricting job growth should really be the last card we play.

    There are still plenty of high end apartments going up in Dublin at the moment, I dont think we will see a problem housing those folks over the short term, especially as the rate of job creation has obviously slowed.



  • Registered Users, Registered Users 2 Posts: 5,310 ✭✭✭BlueSkyDreams


    You are wrong and its been pointed out by multiple posters.

    If you honestly believe that raising income tax for higher earners is going to be a positive for Dublin and Ireland and wont result in job losses and a reduction in FDI investment, especially amongst the larger MNCs, most of whom manage large global employment footprints, then I dont know what more to say to you.

    But, hey, you are entitled to your opinion, as are we all.



  • Registered Users, Registered Users 2 Posts: 74,036 ✭✭✭✭FrancieBrady


    All you have given is your opinion.

    Can you point to where this has occurred. Simple request. I gave you a list of countries with higher income tax rates than here. Which of them have experienced what you claim would happen here?

    Take the Netherlands for instance:

    According to the U.S. Bureau of Economic Analysis (BEA), when measured by country of foreign parent company, the Netherlands was the second largest destination for U.S. FDI in 2021 (after the UK), holding $885 billion out of a total of $6.5 trillion in outbound U.S. investment – about 13.6 percent.

    Or Denmark

    All measures indicate that multinational enterprises play a significant role in the Danish economy. Although Foreign-owned multinationals comprise only 1,2% of Danish companies, they generate more than 18% of private sector jobs as well as nearly 25% of Danish exports.




  • Registered Users, Registered Users 2 Posts: 10,788 ✭✭✭✭maccored


    did you read the post? The poster was insinuating that SF have other income they dont put on their books. You cant manipulate 'rules and funding arrangements' as Im sure if there are loopholes, SF arent the only ones using them (I said 'if' because though its '100%' clear to yourself, it isnt to me.)



  • Registered Users, Registered Users 2 Posts: 1,244 ✭✭✭Emblematic


    I'm not saying restrict it though. Just saying that once we've achieved full employment, pushing for for more job growth may not be the current most optimal strategy for the well being of the country. Though, yes, it did make a lot of sense at times in the past.



  • Registered Users, Registered Users 2 Posts: 5,310 ✭✭✭BlueSkyDreams


    The economy always need to grow and the population of Dublin is growing by about the size of Galway City every 4 years.

    We need more jobs to support that growth.



  • Registered Users, Registered Users 2 Posts: 74,036 ✭✭✭✭FrancieBrady


    You don't need to be an economist to know that you cannot just 'grow the economy'.

    The party's of the power swap have not learned this and have left key infrastructure and indeed, people behind.

    FG deputy McGahon got caught handing out this mantra on the Tonight Show last night.

    He was valiantly touting the OECD report that placed us at No. 3 on the list of most 'progressive tax systems'.

    He was completely stumped and showed he hadn't actually read the report when the presenter pointed out to him that that OECD report also said that our tax system had 'huge inequalities'.

    'Yeh but....' was all he could reply.

    It was clear that head office had armed him with the quote but not the substance of the report.



  • Registered Users, Registered Users 2 Posts: 27,634 ✭✭✭✭Peregrinus


    Didn't see the interview. But it might be Francie, rather than McGahan, who isn't quite across the substance of the report.

    What the OECD says is that we have a highly progressive tax/transfer system which does more to reduce income inequality in society than the tax/transfer system of nearly every other OECD member state. But we need this because, before taxes and transfers, we have an extremely high level of income inequality.

    The "massive inequalities", then, aren't in the tax system; they're in the labour market. The progressive tax/transfer system alleviates them — after taxes and transfers, we are pretty much mid-range for income equality in the OECD. But we wouldn't need such a progressive tax/transfer system if income and wealth was more equally distributed in the first place.

    If SF sees this as a problem, and if they have a policy for addressing it, no doubt Francie can point us to the policy.



  • Registered Users, Registered Users 2 Posts: 74,036 ✭✭✭✭FrancieBrady


    Not what the rest of the discussion said Pere.

    VAT is part of the tax system and that was identified as a problem.

    I am not, like McGahon and others going to pretend I have expertise in this or throw out selective quotes from reports, I am just making the point that there are inequalities and people and infrastructures have been left behind here.

    Any attempts to balance and fine tune the system are worth looking at without the 'oh they are all going to leave' scaremongering.



  • Registered Users, Registered Users 2 Posts: 19,019 ✭✭✭✭VinLieger


    How do you fix VAT being the problem without making people who earn more pay more for basic goods? The only way I can see this working is if we introduce an ID at tills that contains your wealth or income levels that gets scanned in and adjusts the VAT rate accordingly.

    Also they probably are already paying more for basic goods considering they are likely to be buying higher priced goods and thus paying more in VAT than someone buying cheaper brands.

    I notice nowhere in this discussion is there a mention of MUP in a similar vein especially considering it effects lower priced alcohol to a far larger extent than higher priced stuff..



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  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    We will never achieve full employment. Some people will always be unemployed for multiple different reasons. We are probably as close to full employment as possible now



  • Registered Users, Registered Users 2 Posts: 30,966 ✭✭✭✭blanch152


    Well, they do, where are the millions that the English old guy left to the "Sinn Fein party in the Republic of Ireland"? I will tell you where they are - siphoned through the Sinn Fein party in Northern Ireland because the bequest wasn't allowed in the South. That is income that they didn't put on their books correctly.

    Then there is the "Friends of Sinn Fein" and their activities. Funding online bots abroad is one thing that they have been doing.



  • Registered Users, Registered Users 2 Posts: 30,966 ✭✭✭✭blanch152


    Except that if you are not constantly renewing jobs, you will fall behind. Why did great economies of the past fail? Because they stopped innovating, stopped creating new jobs in new industries. We in Ireland are being slow to embrace wind and solar energy, slow to welcome data centres, etc. If anything we need to up our game in creating new jobs.



  • Registered Users, Registered Users 2 Posts: 30,966 ✭✭✭✭blanch152


    When you see somebody holding a completely irrational opinion, one that is academically debunked, maintains that irrational opinion, in the face of the irrationality being clear to everyone else, you do have to wonder.



  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    Sinn Fein haven't managed to reassure business leaders. When you see the planned Minister for Finance can't even release an alternative budget without mistakes. Builds a whole campaign around "tax the rich" and then a few months later it released and they had a 28% error in the original 140k amount and now its 100k.

    How can you attract talent to Ireland when you don't know if they are going to be the target of the "tax the rich" policy, it should be just named "tax the worker".

    Sinn fein as I have said multiple times are incompetent. MNC and business leaders are watching all this, imagine a company making a 28% error and then brushing over it as if it never happened? if it did people would be fired from top to bottom. Total incompetence.

    I go back to the "up da ra" lad who supposed to be the planned Minister for Health, said he was going to hire hundreds of new Consultants. When it was pointed out to him that all these people would be the target for the "tax the rich" policy and why would they come to Ireland when their take home pay would be less and the current government can't attract them. The answer? well no real answer and then pointed to pearse.

    Incompetence. Every business minded person the Ireland can spot all this and that is why people think it will be a disaster for Ireland.

    That's just two departments, once you start bringing in the rest of them it turns into a total shambles.

    Housing :-) don't make me laugh. EOB is good at shouting from behind mary Lou in the Dail and that's about it.



  • Registered Users, Registered Users 2 Posts: 74,036 ✭✭✭✭FrancieBrady


    Again this makes no sense.

    Every single party since the dawn of this state has been incompetent and made mistakes. Some of them tragically costly in many many ways. They have also gotten things right and done some good. No government is ever going to achieve perfection.

    Stop the melodramatic exceptionalism maybe?


    Now it seems to me that SF have been hard at work reassuring business leaders. Or are you refuting what the article clearly says?

    Yes they have concerns about personal taxation, but the only people shouting about corporate flight are posters here.

    Posters who cannot demonstrate where this flight has happened elsewhere because personal taxation was raised. Still waiting for examples.



  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    I was talking about Sinn Fein. More nonsense.

    As I said incompetence from the party from top to bottom.



  • Registered Users, Registered Users 2 Posts: 74,036 ✭✭✭✭FrancieBrady


    Well I hate to tell you, it's endemic across the political class.

    Any comment on this:

    Now it seems to me that SF have been hard at work reassuring business leaders. Or are you refuting what the article clearly says?

    Was the guy from Deloitte sensationalising and threatening the flight of staff? Was he even alluding to it as a consequence?

    Can you point to where this flight of staff has happened in the countries listed with higher tax rates?



  • Registered Users, Registered Users 2 Posts: 3,064 ✭✭✭pureza


    Problem is,after the meetings,business people don't believe them and the advice being given right left and centre in the busiiness world is to protect yourself against a Sinn Féin government now while you still can

    Business people are Savvy like that

    Personally I think if or when Sinn Féin get into power,it's not business people that will get an awful land,its their core supporters, their proletariat when nirvana is still missing



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  • Registered Users, Registered Users 2 Posts: 19,019 ✭✭✭✭VinLieger


    Its not just business people, private citizens who have any degree of wealth are being advised to move their money out of the country for fear of what a SF government will try take from them, my parents themselves arent in this situation but have several friends who would be worth low double digits millions and have confirmed they are in the process of or already have secured themselves against a SF government by moving a fair amount of their assets overseas. If people in that position are doing it just imagine what those in the far wealthier categories are up to.

    Francie can deny reality all he wants but the fear of what SF will do is making people desert the country with their money.



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