This is bang on. Basically the US have been undercutting the EU for years ever since Clinton brought in the rules allowing companies to hold their profits offsh

This is bang on. Basically the US have been undercutting the EU for years ever since Clinton brought in the rules allowing companies to hold their profits offshore. Interesting figures regarding GDP, thanks. Regarding the headline rate of tax, although Germany and France have higher taxation rates, I think it's pretty well accepted that the effective rates are a lot less than the advertised rates. Also, as per the other sibling comment, Ireland's GDP figure probably isn't the best measure of domestic wealth. And another thing to note is that Ireland had a lot of catching up to do for historical reasons (i.e. it was basically rinsed for hundred of years by the UK, followed by a punishing trade war after independence). Having said that, I think this move is probably for the best. It will be interesting to see if it gets past Congress.