In my recent column listing the “Best and Worst News of 2021,” I included Joe Biden’s global tax cartel as one of the awful things that happened in the past 12 months.
It’s bad news for workers, consumers, and shareholders that politicians approved a system that will require all nations to have a corporate tax rate of at least 15 percent.
From the perspective of politicians, it’s easy to understand why they want a tax cartel. it’s a way for them to get their hands on more money. Just as gas stations would want a system that rigs gas prices at a high level. Or grocery stores would want a system to rig high food prices.
From the perspective of taxpayers, however, tax competition is much better. Politicians have a much harder time raising tax rates (and in many cases feel pressure to lower tax rates) when they know that…
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Utopia, you are standing in it! 
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