Focus Point - Irish EconomyCommentary by Pete du Pont
July 05, 2001
I'm Pete du Pont with the National Center for Policy Analysis. I reported some time ago on the Irish economic comeback. Ireland used supply side economics and huge corporate, personal and capital gains tax cuts to turn a virtual third world country into what's been nicknamed "The Celtic Miracle."
That's the good news. Now, the funny part. The rest of Europe is having a hissy fit.
According to the heritage foundation, tax-crazy French politicians call the lower Irish tax rates a form of unfair competition. There are eurocrats who call lower taxes a form of "state aid." And the European union voted to condemn Ireland's supply side policies for causing "too much growth."
Ask yourself, what's too much economic growth?
Other European countries are threatened by Ireland's success, because instead of taking the statist, tax-obsessed approach, Ireland had the gall to opt for for liberty instead, with the predictable outcome that the economy flourished. If that's "state aid," it's the right kind: the state aiding its people by getting out of their way.
Those are my ideas, and at the NCPA we know ideas can change the world. I'm Pete du Pont. Next time, ed-fads.