The G7's quest for a global minimum corporate tax has highlighted just how much the global elites can't stand what they see as private "monopolies," but also want more monopoly power for themselves.
The "trickle down" effect is real in how capitalists are motivated to expand affordability of their products and services. Mobile phones and air travel were once just luxuries enjoyed by a select few, but are now widely affordable.
The global minimum tax rate will not hurt G7 members or large technology giants, but it will devastate small and dynamic countries that need to attract capital and investment and who cannot afford to have the tax rate of global leading nations.
When you copy the European Union, you also should know you will get European Union–style lack of growth and job creation.
Social democrats love to denounce low-tax, probusiness regimes as "neoliberal" and as places with more poverty. But the reality is that parts of Europe that embraced markets most reduced poverty while making their citizens richer.
Social democrats love to denounce low-tax, probusiness regimes as "neoliberal" and as places with more poverty. But the reality is that parts of Europe that embraced markets most reduced poverty while making their citizens richer.
The destruction of the free market, competition, and innovation may seem appealing to some now, but the likely outcome of poor employment, negative real wage growth, and stagnation should be a real cause of concern.
China and Russia are trying to build a Eurasian bloc that can break free of any American spheres of influence. The American regime obviously opposes this, but money printing and debt limits the American options.
The destruction of the free market, competition, and innovation may seem appealing to some now, but the likely outcome of poor employment, negative real wage growth, and stagnation should be a real cause of concern.
Have you ever noticed that it's only the wealthy Nordic countries that are singled out as being "socialist"? Places like Greece and Italy, which are more socialistic than Scandinavia, never seem to warrant a mention on this topic.
