Tax hike on income over €100k ‘is lousy economics’

The most powerful group representing American businesses has warned moves by the Coalition to increase taxes on income above €100,000 would pose a significant risk to their investment in Ireland.

President of the United States Chamber of Commerce Thomas Donohue also said Ireland would be “a damn fool” to give in to demands by our European partners to change the low corporate tax rate.

His comments support claims by Richard Bruton, the jobs minister, that the rate of tax on income is a barrier to the creation of employment and should be lowered.