Ireland's Untouchables - the ultra wealthy


Well-known member
May 31, 2009
As Olli Rehn continues his arm-twisting (not that he needs to twist most of the arms in question) and demands even deeper cuts in public services, there continues to be a small but extremely powerful elite in this country who have suffered no pain whatsoever, bar the results of their own gambling on the markets. They are the ultra rich and the major corporations.

Despite the repeated mantra that "everything is on the table", the government consistently refuse to consider an increase in Corporation Tax (which is one of the lowest in Europe here) and sneer at the idea of a Wealth Tax. We are told that there will be a flight of capital (hasn't it already happened?) and that tens of thousands of jobs in multinationals will be lost. This is poppycock for want of a better word. Multinationals are here to make money. As long as there is a profit to be made they will sup at the ample trough we have provided for them.

It is time we took on the government on this important issue. There is still massive wealth in this country. We are told all of Europe (and much of the world) is also in economic crisis but one must ask "Who is giving all those loans to the PIIGS nations?" Somebody is rolling in it and we know who they are. They or their hirelings regularly pop up on programmes on radio and television telling us that to increase Corporation Tax would be suicidal for this country. They demand ever more cuts in public services and the emasculation of public sector companies and are cheerleaders for water charges and privatisation.

It is time the untouchables began to feel a bit of pain too.


Well-known member
May 27, 2009
The only thing keeping our economy nominally growing is our multinationals.
Factor in the flight of 5,000 people n month and this is a paper "recovery" - suchjas it is - with few enough jobs being created at this point in time.

You cannot tax or save your way out of a recession - Japan has proved the latter and we have had ample previous experience of the former under Charlie Haughey in the eighties.

You have to trade profitably and the costs in our tourist industry [to take one example] still have to come way down for it to be very palatable again - perhaps getting rid of the MBAs running hotels would be a start, like in the HSE.

Using over qualified people to do any job or provide any service is a nonsense, unless they will accept levels of payment commensurate with their contribution to the job they do - any benefit from employer "managers" has to be justified by the increased profitability resulting from the increased efficiency they bring to the business.

We shouldn't just be having managers employed for the sake of it.

This applies in the professions - I heard of one solicitor recently who retired at 40 - maybe this was a "gloss" on his having to retire, but it makes no sense to me that someone can be ao well compensated for work in a non-entrepreneurial role that he can retire with only half his career over - I will probably have to work if there is any work]until I drop.

We have to manage our balace sheet in the tens of billions and frightening our investors and foreign multinationals away will not do that.

PersonallY I think we should trace the money made on the deals with have broke our economy and ask for most of it back or else name and shame the recipients.

And I think we should hold the Councillors, bankers and estate agents who all facilitated the outrageous rise in prices to account.

Certainly the reckless trading the bankers engaged in should result in them being barred as directors for life, and fobidden ever to engage in financial trading or banking world wide for the rest of their lives.

Not that many would be rushing to employ them outside of corrupt regimes.
That's one of the reasons why the top Bank people weren't let go you know - no jobs for the bois to parachute into.

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