Diametrically different.

Corporation tax in the Republic of Ireland is a levy on a company’s profits. The tax is charged on both a company’s income and chargeable gains. The corporation tax in Ireland is quite low (12.5%), and is often cited by Republicans as an example of tax competition, as it is used as an incentive for foreign companies to invest in that state.

On the opposite end is Norway. The Norwegian Corporate Rate is 28%. Their Income Tax rate is 48%. They are one of the highest taxed nations in the world. They also have been ranked as the nation with the highest standard of living for several years in a row.

Ireland got a lot of press by the Investment Papers because of it’s low corporate tax rate. It was an economic miracle.

Then came the crises.

Here are the unemployment numbers out of Ireland June 2004: 4.4%; July 2011: 14.1%….

Here are the unemployment numbers out of Norway..June 2004%:4.4%; July 2011: 3.3%

During boom times both nations had equally low unemployment. One nation taxed heavily; the other taxed very lightly. One nation was run democratically; the other was run as Republicans wish they could run the USA……

The Democratic country, currently has an unemployment level of 3.3% … The USA has an unemployment level of 9.1%… The Republican run country, currently has an unemployment level of 14.1%….

Why?

The reason is simple as the Aesop’s fable: the grasshopper and the ants. While Republicans are frivolously playing around during times of plenty, Democrats with higher taxes are investing in their future for rainy days…..

Taxes are a means of stabilizing the economy. Norway did just that. The nation with the highest level of taxes, has the lowest unemployment and the highest standard of living on this planet.

Throw that in Mitch McConnell’s face when he says high taxes cost jobs. Truth is: they don’t.

Jobs go where taxes are highest. In both good times and bad, if taxes are high, a nation’s people stay employed…….