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April 8, 2010 - John D'Agostino
A recent Wall Street Journal commentary piece by Alex J. Pollock talks of some drastic actions by Ireland in the wake of its economic crisis.
In the article, Pollock says Ireland had years of growth and success but is currently going through terrible financial times. Their solution?
Reducing pay of government employees through a formula that begins with a 5 percent cut for someone earning $40,000. The percentages increase as the wage increases as well.
"This looks like a very sensible plan for nonmilitary government employees," Pollock wrote. "Ireland has already worked out the plan. All the U.S. has to do is implement it."
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