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Wednesday, October 15, 2008

Ireland's Business Tax

In tonight's debate, John McCain asked why our business tax is so much higher than Ireland's. My answer? Defense spending. In fiscal year 2008, the United States spent $623 billion on Defense. Something around 36% of our budget. The estimated 2004 international spending outside the US? $500 Billion. In 2001, Ireland spent only $700 million in defense spending. We have higher taxes than the rest of the world because we spend more on "defense" than every other nation in the world.