patrick.net

Blarney eventually paid off?

I think the Irish have always been good at politics. Maybe all that blarney and blather got them some very advantageous deals.

FAANG tax evasion.

They basically made Ireland a Tax haven for corps and got tons of jobs in return. Go figure. Lots of Semicon-related companies moved in in the 80's-90's.

But how does that increase GDP?

Patrick says

But how does that increase GDP?

Because all the money coming through the country is getting counted towards the GDP? (I'm not an economist).

The army is a chick with a broken chair and a WWI Italian carbine.

When she is on the beach, she is the navy.

Patrick says

Is it all from multinationals locating there? What exactly do they produce that makes them so rich? It's not the dairy products, good though they are.

Double Irish with a Dutch Sandwich


Example of the Double Irish With a Dutch Sandwich

In 2017, Google reportedly transferred 19.9 billion euros or roughly $22 billion through a Dutch company, which was then forwarded to an Irish company in Bermuda. Companies pay no taxes in Bermuda. In short, Google's subsidiary in the Netherlands was used to transfer revenue to the Irish subsidiary in Bermuda.
https://www.investopedia.com/terms/d/double-irish-with-a-dutch-sandwich.asp

Apparently there was also a corresponding rise in per capita income as well.

I don’t see how it’s possible.

I went there for 6 days in 2013 and the standard of living was much lower than the US. One of our tour guides was a supervisor replacing an employee who was on vacation and he talked a lot. He basically said that it wasn’t worth it to be a supervisor. Due to the $15 min wage, he only got paid a few euros more, and it wasn’t worth the headaches and quality of life in Ireland sucked because it’s basically impossible to improve ones standing in life.