I was browsing through the press highlights of the April trade report and learned that we set a new record for imports from Ireland. But what the hell do we import from Ireland? Whiskey? Shamrock-themed tea towels? The answer turns out to be drugs. Now you know.
well, i suppose you could say irish whiskey is an organic chemical
or if you're self-medicating, maybe a pharmaceutical
Most technology IP is moved to Ireland and licensed back from there.
There was a lot of pharmaceutical production in Puerto Rico during the Cold War. Tax breaks to show off how well the West was compared to Communist Cuba. But those tax advantages stopped after the old Soviet Union fell, then production moved.
You'd be shocked how central bog butter is to so many industrial processes and products we just take for granted, toothpaste, hamburger, moist towelettes. Cinnabons. Soft drinks, Mandrake, children's soft drinks.
Except we don't. It's mostly an accounting fiction, where the production facilities (not necessarily in Ireland) are owned by the Irish subsidiary, which charges the US subsidiary a huge markup so that they more or less break even. The multinational holding company gets monopoly profits, Ireland (which has a very low corporate tax rate) gets the taxes, and the US public pays for it all.
what cell phone is made in ireland, anybody know? I'd like to get one, probable has better ring tones.
No phones made in Ireland. I'm sure someone there makes ring tones, though.
The sound of a pint of Guinness being poured.
What % of that is Viagra?
Kerrygold is excellent cheese!