Cato Institute said:
quote:More recently, Ireland established a flat 12.5 percent tax rate on all corporations — one of the lowest rates in the world, and just one-third of the U.S. rate. Low business tax rates have helped Ireland attract huge inflows of foreign investment.
Now, Ireland is bankrupt, so that too must be the result of the low tax rates. It was good for companies like Google the use Irish tax law to skirt US income tax such that they only pay about 3% on their annual earnings.
Isn't McCain Irish???