Global tax reform is a path to a stable international economic regime??
[T]he potential global tax overhaul would force many companies to pay more to governments, not less. But this may be a small price to pay for a stable international framework.
Existing global tax rules allow companies to transfer those profits, often to a low-tax jurisdiction.
Never mind that an even smaller price—indeed, a net positive gain in prosperity—would be lowering national taxes to the level of the lowest rates imposed by any nation. This would eliminate tax competition, reduce compliance costs as multinational companies no longer had to maneuver the way they realize their incomes and taxes owed, lead to lower end-user prices by reducing taxes as a multinational’s cost center to be covered by the price of its goods.
But no—the globalists want to raise the tax rates to a common high level. They don’t seem to care about actual global prosperity—just getting more of our money for the sake of the chimera of…stability.
I’m minded of Benjamin Franklin in a slightly different milieu:
Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety.