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Yellen said that the Biden administration wants to end a global “race-to-the-bottom” on corporate tax rates by working with other countries in the G20 on an agreement for a global minimum tax rate. She said that this effort is important in order to ensure that countries can raise the revenue they need to provide needed public services.

“Competitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger and acquisition bids,” Yellen said. “It is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government.”

> Yellen said that the Biden administration wants to end a global “race-to-the-bottom” on corporate tax rates by working with other countries in the G20 on an agreement for a global minimum tax rate. She said that this effort is important in order to ensure that countries can raise the revenue they need to provide needed public services. > “Competitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger and acquisition bids,” Yellen said. “It is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government.”

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[–] • 1 pt (edited )

They either have very little understanding of economics. Or they deliberately want to hurt the country. Take your pick.

“This is really something we need to make globalization work.”

Really activates the almonds.