FAST FIVE: The G-7's Reckless Commitment To Mounting Debt
Why not an agreement on a maximum global public spending.
This entire sentence makes no sense, opens the door to double taxation and penalizes the most competitive and profitable companies while it has no impact on the dinosaur loss-making or poor-margin conglomerates that most governments call “strategic sectors”.
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.
Losing capital and investment will cripple their economy and the alleged “tax revenue benefit” of raising the minimum corporate tax will disappear.
those that can make the largest contribution to GDP growth.” Rising corporate taxes will not reduce the debt burden.