Taxpayers to bail out the lenders

The Zoe case in the High and Supreme Courts over the last few weeks has given a disquieting insight into the disposition of the banks, which suggests that Nama may be an even greater disaster than many of us feel. It also raises questions about the conduct of accountants, who will be crucial agents in how Nama works out.

Rank unfairness of tax plans is no surprise

Jean Baptiste Colbert was minister for finance during the regime of Louis XIV. He was credited with rescuing the French economy from bankruptcy in the middle of the 17th century. One of his successes was to extend the tax base beyond small landowners.

He offered the following advice on taxation policy: “The art of taxation consists in so plucking the goose as to obtain the largest amount of feathers with the least amount of hissing.” The quotation is displayed prominently in the museum of the Revenue Commissioners at Dublin Castle.

From the archives: How Charlie Won the War (1983)

Similarities exist between the move against Charlie Haughey and the challenge to Brian Cowen's leadership mounted this week by some parliamentary party members. Below is a feature by Vincent Browne that appeared in the February 1983 edition of Magill on how Charlie won  the battle for the leadership. The Magill archive (1977 - 1998) is available here.