Gross domestic product is an aggregate measure of production equal to the sum of the gross values added of all resident institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs). The sum of the final uses of goods and services (all uses except intermediate consumption) measured in purchasers’ prices, less the value of imports of goods and services, or the sum of primary incomes distributed by resident producer units.
So hoarding cash for the evil megacorps doesn’t appear to significantly contribute to GDP at all. In fact, hoarding cash doesn’t contribute to exports, which is a major component of GDP.
Remember that in order to take advantage of a tax haven, you need some sort of presence there. Even an evil megacorp will need to hire some amount of Irish workers for their local presence and pay Irish banks to manage their cash, and those contribute to the GDP by paying for Irish workers and services.
For places like Monaco and Bermuda, well, the uber-rich need to own their mansions, keep a place to dock their yachts, and whatnot.
Also, you ignored Finland and Sweden, both of which have higher per capita GDP than Japan while bringing up the “Ireland is a tax haven for evil corporations” argument, and neither country is known to be a tax haven.
And again, you need to pay an Irish bank, which has employees and what not, to manage all your money.
Edit: and also, let’s look at Apple, which has often been blamed for using Ireland as a tax haven. They currently employ 6,000 people in Ireland and has invested 220 million euros in its facilities there. Hardly a tiny office with one person.
And even if that were the case, remember, the fact they may hoard cash there has no effect on GDP. GDP only comes from actually produced goods, services, and spending. Cash sitting in a bank account has no effect on GDP. It doesn’t matter if it’s your cash, my cash, Apple’s cash, or anyone else’s cash. It’s not contributing to GDP.
Ireland produces a shit ton of stuff relative to its size and has a trade surplus. That is the source of its high GDP.
He also promoted a white nationalist Baked Alaska’s TikTok video by laughing at it and posting it for his audience again. Then people blamed journalists for actually bringing up the dude was a white nationalist “cause how can a millionaire possibly research to find out if someone in a random video is racist?”
People gotta really look out for online cults of personality on the Internet. If they feel the need to be political then the ramifications will be horrid.
