tiny lemmy 

Trump accuses Ireland of stealing US companies in meeting with taoiseach

c/world · u/HellsBelle@sh.itjust.works · 211 points

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Donald Trump has accused Ireland of stealing the US pharmaceutical industry and the tax revenue that should have been paid to the US treasury, in a blow to the Irish premier, Micheál Martin, who had hoped to emerge unscathed from a visit to the White House marking St Patrick’s Day.

The US president showed grudging respect for Martin, alternately ribbing and complimenting him, while also launching several broadsides against the EU.

He repeatedly took aim at Ireland’s historical low-tax policies, which helped lure US multinationals including Pfizer, Boston Scientific and Eli Lilly to its shores.

Big pharma now drives Ireland’s €72bn (£60bn) worth of annual exports to the US, with taxes paid in Ireland on drugs consumed in the US.

Comments

u/InvertedParallax@lemm.ee · 18 points

Ahem.

He literally cut the corporate tax rate to one of the lowest on the planet, and further cut taxes on the rich.

This is the turd calling the fertilizer shit.

u/barsoap@lemm.ee · 14 points

Ireland is luring *the EU subsidiaries* of those companies to Ireland by being, in comparison to other EU countries, a tax haven. Luxembourg does something similar, that's where e.g. Amazon is.

Without those policies US companies would still have EU subsidiaries as you need to have one to operate in the EU. And a lot more money would stay in the EU, instead of flowing to the US. In short: Trump is complaining that Ireland, to the benefit of US companies, is a traitor to the EU's tax offices.

u/1984@lemmy.today · 1 points

How do you know taxation is used for public services? In my country it ends up in rich peoples pockets.

u/ms_lane@lemmy.world · -12 points

Is Ireland an 'Ally' in the geopolitical sense though?

They're a trading partner, a friend even.

But they don't have a military to speak of, they can't be anyone's 'ally'...

u/tal@lemmy.today · 9 points

Maybe the Irish will increase taxation on it to make him happy.

u/ms_lane@lemmy.world · 13 points

I'd say NK falls into the same category as China.

Russia and Israel are his only friends. Both becuase they're using him. What a tool Trump is.

u/ATDA@lemmy.world · 68 points

If a company used Ireland to avoid taxes I believe that *checks notes* ... makes them smart.

u/ploot@lemmy.blahaj.zone · 48 points

Are there any countries that aren't being horribly mean to the poor helpless USA, according to Trump? Apart from Russia of course.

u/ms_lane@lemmy.world · 42 points

>He repeatedly took aim at Ireland’s historical low-tax policies, which helped lure US multinationals including Pfizer, Boston Scientific and Eli Lilly to its shores.

First time Trump has actually taken aim at something worthwhile. Ireland's antagonistically low corporate tax rate and dodgy tax writeoffs for multinationals robs other countries of taxation used for public services so that Ireland gets just a little more for themselves, it's a selfish, crappy move by Ireland and I've spoken out against it multiple times in the past.

I don't think Trump will get it right though. He'll probably realise sooner or later that his company has an Irish subsidiary for tax reasons.

u/psx_crab@lemmy.zip · 23 points

Maybe he should check if his company is setup on a tax haven.

Or maybe go check back the panama paper again and see how many time his name is listed.

u/rickdg@lemmy.world · 17 points

“You’re doing good, that can’t be, everyone has to be worse than us.”

u/Blackout@fedia.io · 10 points

Why would Trump give Ireland any kind of pass? He clearly prefers Scottish food like from that chain MacDonalds.

u/gravitas_deficiency@sh.itjust.works · 7 points

Lmfao wat. I am 100% sure that orangeboi has used Ireland as a tax haven ***extensively*** over the years.

This isn’t about what it says on the tin.