Seanad debates

Tuesday, 18 February 2003

Finance and Related Matters: Statements.

 

I suspect that the distribution of wealth, which follows the creation of wealth, is the source of the majority of arguments in relation to economic affairs. Wealth is redistributed through reinvestment, profit and taxation. I would like to hear more about this issue from the Minister of State's party, the Progressive Democrats. While I have heard its representatives discuss the issues, I would like to know the economic principle that governs it. How much of every 100 units of profit made by a company should be distributed into social services, health and education? How much should be pure profit and how much should be taken in the form of taxation? How should it be distributed? We would understand more about the party's philosophy if such figures were made available. Many of the labels used such as capitalism, socialism and communism involve people pushing their views on others but I prefer to hear people say what they feel should be done. When one's philosophy has been made clear, one can work out where it fits into our terms of reference.

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