People can say “oh well, it’s just because of etc. and etc.”
But this is nonetheless a call for a global tax scheme, which is the first step of world government.
Janet Yellen will use her first major address as Treasury secretary to argue for a global minimum corporate tax rate, Axios has learned, as she makes the case for President Biden’s plan to raise U.S. corporate taxes to fund his $2 trillion+ infrastructure plan.
Why it matters: Convincing other countries to impose a global minimum tax would reduce the likelihood of companies relocating offshore, as Biden seeks to increase the corporate rate from 21% to 28%.
“Competitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger and acquisition bids,” Yellen will say today in a speech to the Chicago Council on Global Affairs, according to an excerpt of her prepared remarks obtained by Axios.
“It is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government.”
“We are working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom.”
The first step of world government was actually free trade.
But in terms of actually establishing a world entity with authority – the first step of that is a tax scheme.
The global warming tax is the main scheme, but doing some kind of “global corporate rules for taxes” would be another in-road.
They’ve made you feel like it’s inevitable at this point.