The subheadline to Mick Mulvaney’s op-ed in The Wall Street Journal drives the salient question:
The “global minimum tax” battle may set an example for those who consider low US state levies “unfair.”
This comes against the backdrop of President Joe Biden’s (D) and his Congressional Progressive-Democrat cronies’ drive to give our domestic economic sovereignty over to an international “agreement” concerning the proper levels of business taxes. That international gang, centered on the OECD, insists that more is better, more is fairer.
Fair to whom, though? Nor Biden, nor his cronies, nor his OECD BFFs are willing to say, beyond insisting that Government needs more and that tax competition is somehow unfair.
Into that void, I have to ask: what’s unfair about leaving more money in the hands of those who earned it? What’s unfair about leaving more money in the hands the private enterprises whose production produced the business incomes that are being taxed?
In the absence of those Betters’ answers, I’ll supply my own.
It’s eminently fair to leave those monies in the hands and coffers of those who generated the income.
What’s fair is the Progressive-Democrat Yellen-disparaged race to the taxing bottom. That’s the most money left in the hands of the economic generators.