Yellen’s (Proposed) Tax Cartel

Welcome to the Capital Note, a newsletter about business, finance, and economics. On the menu today: Biden's tax plans go global, the ...

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Image BY DANIEL TENREIRO
& ANDREW STUTTAFORD
Image April 07, 2021
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BY DANIEL TENREIRO
& ANDREW STUTTAFORD
April 07, 2021
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Yellen's (Proposed) Tax Cartel

Welcome to the Capital Note, a newsletter about business, finance, and economics. On the menu today: Biden's tax plans go global, the return of the doom loop, Germany's green new dud, robots and jobs, and problems with index funds. To sign up for the Capital Note, follow this link.

A Tax Hike So Destructive that It Needs (But Won't Get) a Cartel to Contain the Damage
Cartels generally operate in predictable ways. One of those predictable ways is that they attempt to keep prices high. Part of the price of government is tax. It is unsurprising, therefore, that Janet Yellen has floated the "bold" (NPR's adjective, not mine) idea of a global minimum corporate tax, in the wake of what is planned to be a substantial increase in America's corporate-tax burden.

Three things about any such increase really should not be up for debate.

Firstly, those voters who believe that corporate taxes ...   READ MORE

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