Saturday, December 28, 2019

Corporate tax rate for biggest US firms below 11%- Silicon Six avoid $100bn+ in taxes

The biggest Amerian corporations had an average effective tax rate of 11.3% in 2018 — the taxes companies actually paid in 2019 as a percentage of 2018 profits — according to a study of 379 Fortune 500 companies, from the Institute on Taxation & Economic Policy (ITEP) that was published in Washington DC before Christmas. If all the Fortune 500 firms were included the rate would likely be below 11%.

Sunday, December 15, 2019

Experts' predictions and dart-throwing chimpanzees

Niall Ferguson, the American-based British television historian, in The Sunday Times of December 8th feared a hung British parliament "despite the opinion polls," as the Labour Party had a stronger social media presence.

Wednesday, December 11, 2019

Ireland's social, economic and business deficits in 2020

NASA astronaut Terry Virts captured this Earth observation of Ireland, United Kingdom and Scandinavia on a moonlit night under an amazing and ever-changing aurora, on Feb. 6, 2015. Terry is a flight engineer on the International Space Station with Expedition 42. Image Credit: NASA

Ireland is a high-cost economy but unlike Denmark, which is a global innovation leader with a high ratio of exporters, a high-level of entrepreneurship and high employer startup activity, indicators suggest Ireland is below average in several areas among the 25 rich countries in the OECD (Organisation for Economic Cooperation and Development) area.

Following 2015, the year of Leprechaun Economics, when Ireland's GDP (gross domestic product) jumped 26%, a Modified Gross National Income was produced by stripping out 3 big multinational tax distortions from the National Accounts. However, there remain distortions from massive tax avoidance, and in particular in international indicators.

Friday, December 06, 2019

James Joyce on migration and Europe

According to Trieste's Museo Joyciano, "When Joyce and Nora (Barnacle) arrived in Trieste on October 20, 1904, he left Nora in the gardens outside the train station to find an accommodation for the night. Once in Piazza Grande (today Piazza dell’Unità d’Italia) he was caught up in a brawl with drunken English sailors in a bar and was arrested by the police. He was released a few hours later thanks to the English consul and he finally rejoined Nora in the square outside the station."

In April 1907 James Joyce, the Irish writer, gave a lecture on Ireland in Trieste, the North Adriatic port city. The lecture was titled 'Irlanda, Isola dei Santi e dei Savi' and in English, 'Ireland, Island of Saints and Sages.'