The Economist editors November 20 advice: Act Unfriendly, Cater to Businessmen, Encourage Usury to the Poor

December 11th, 2010 § 4

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I'm probably just going to let my Economist subscription lapse at the end of January.

While I do having access to the whole world in a single news publication, sorting through the corporate disinformation is awfully tiresome.

Their editorials are particularly poorly thought out.

Let's take the week of 20 November:

Saving The Euro

The Economist position: The Irish are wrong to fight receiving bailout money and the Germans are wrong to insist they raise the absurd corporate tax rate of 12.5% which got the Irish into this bind in the first place.

Too much of the EU’s motivation seems to be to punish Ireland for its Anglo-Saxon ways—especially its highly competitive 12.5% tax rate on corporate profits, which helps it attract foreign firms. Raising this would be madness....A new generation of firms, including computer-gaming outfits like Activision Blizzard and Zynga, are joining the established operations of Intel and Google. Ireland’s workforce is young, skilled and adaptable. Rents are coming down even faster than wages.

Guys, the Irish have been busy selling the family silver faster than the Germans can replace it. Corporate tax rates of 12.5% in a single member state, only betray the whole Eurozone. Low rents for starving Irish potato farmers is not why we set up the Euro zone.

The Economist editors November 20 advice: Act Unfriendly, Cater to Businessmen, Encourage Usury to the Poor Continues »