Another Irish Exodus

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Posted: Sep 15, 2022 12:01 AM

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DUBLIN — Americans are not the only ones suffering from high fuel and food prices, along with rapidly increasing costs for housing and rising mortgage rates.The Irish, too, are experiencing a similar economic squeeze, but unlike Americans who can reduce financial pressures and move to states with no state taxes and cheaper housing, fuel and food, the only option for Irish people is to leave the country.A survey by the National Youth Council of Ireland (NYCI) has found “seven-in-10 young people, ages 18–24 are considering moving abroad for a better life. … Inflation is at its highest since 1984 … and mortgage rates are set to rise for the first time in 11 years.” The Irish Times reports 10,568 people, including 3,137 children, “are now categorised as homeless in the Republic.“Some are calling on the government to impose price controls and slap a windfall profits tax on corporations and a wealth tax on individuals. Sound familiar?Price controls don’t work (recall Richard Nixon’s wage and price controls 50 years ago to no avail) and giving government more money does not always help meet individual needs.The frustration is that the Irish economy seems to be doing well, but the cost of living for many is outpacing growing prosperity. Just one example. Taxis ar …