Well, shit…
Stephen Moore, senior economic advisor to Mr Trump, has said one of the key pieces of Donald Trump’s economic plan is to bring American multinational companies back to the US through a series of radical tax cuts.
“I believe that when we cut these tax rates – we’re going to cut our business tax rate from roughly 35% down to roughly 15 to 20% – if you do that you are going to see a flood of companies leaving Ireland and Canada and Germany and France and they are going to come back to the United States,” he said.
“It is going to have a very high impact on jobs.”
Moore was previously a leading economist with Heritage Foundation, and he told BBC Radio 4’s World At One that enticing companies back to the US with low corporation tax would be a key policy of the Trump administration.
“There is no question about it, and we see day after day in this country that we are losing our businesses and our corporations,” he said.
“They are effectively renouncing their US citizenship and they are moving to Canada, to Britain, to Ireland, to China and Mexico.
“That is a significant loss of jobs and we want to have the jobs here in the United States, we don’t want to have them go abroad.”
Ireland is heavily reliant on multinational companies and Foreign Direct Investment (FDI) for providing jobs.
A report from IDA Ireland in January revealed that one-in-five private sector workers in Ireland are now employed directly or indirectly by foreign multinationals.
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