Secretary Yellen is proposing a minimum tax globally on corporations. Companies play with countries’ borders a lot. Allies literally compete for businesses no different than states have to compete for PPE. The entire corporate structure is disincentivized to promote sovereign stability.
One of the places Secretary Yellen will meet with agreement is Wall Street transaction taxes. It is a minuscule tax who’s time has come. But, promoting sovereign economic stability also means corporate stability follows.
I think the United Nations has a place in a convention that stabilizes countries with companies that employ, pay good wages and provide for a consistent treasury income.
It is time the global community take on this challenge.
