SO TREASURY SECRETARY YELLEN IS ADVOCATING FOR A “MINIMUM” WORLD WIDE COPORATE TAX RATE SO AS TO INSURE A LEVEL PLAYING FIELD FOR US CORPORATIONS. SHE AND BIDEN ARE ABOUT TO HIKE CORPORATE TAX RATES AND THE CONCERN IS THAT SOME MAY JUMP SHIP HERE AND TAKE THEIR BUSINESS ELSEWHERE. THE GOVERNMENT IMPOSES “MINIMUM” PRICES FOR BOTH MILK AND BOOZE AND IT TURNS OUT THAT THE CONSUMER ENDS UP PAYING THE MAXIMUM PRICE FOR BOTH!
GERMANY HAS EXPRESSED AN INTEREST IN DOING THIS BUT THEIR TAX RATE IS ALREADY 30% AND BIDEN IS HINTING THAT HE MIGHT ACCEPT SOMETHING LESS THAN 28%. THIS OF COURSE ASSUMES THAT COUNTRIES WON’T CHEAT ON THIS BY SUBSIDIZING THEIR COUNTRIES BUSINESSES OR BY IMPOSING A TARIFF ON THEIR COMPANIES FOREIGN COMPETITORS WHICH GERMANY IS WELL KNOWN TO DO.
AND THAT IS ALL I’M GOING TO SAY ABOUT THAT.
Drain the Cesspool 