The newly-proposed Global Minimum Corporate Tax is an impracticable plan that diminishes American economic sovereignty and competitiveness.
As I write this post, American officials are meeting with their counterparts from the UK, France, Japan, Italy, Canada, and Germany at the G7 Summit currently underway in Cornwall, UK. One of the main issues they are discussing is the promulgation of what they are calling a ‘global minimum corporate tax’, which would involve all seven of the world’s wealthiest democracies agreeing to not move corporate taxes below 15% so as to better capture the profits of large multinational corporations. When I first read that the Biden administration – and particularly Treasury Secretary Janet Yellen – was seeking to push this international agreement on taxes, I was flabbergasted at the fact that any American administration would think this is a good idea. There are several reasons for my skepticism, many of which were expertly laid out by the Wall Street Journal, but this post will focus on one major issue that’s dear to my heart: the fact that the agreement necessarily diminishes American sovereignty for no good purpose.
Rejoining the World Health Organization (WHO) was a mistake.The Biden administration should revoke their promise to do so, post-haste.
Throughout the past year of the global pandemic, the World Health Organization has been negligent and has routinely gotten things wrong. From their wholesale reliance on China’s word when it came to the early outbreak to their stance against masking and long-time claims that the virus was not airborne, the group failed at its mission of global public health. These failures are not unrepresentative of the WHO’s general approach, as the body seems to focus more on international politics than it does health these days. The organization is led by Tedros Adhanom Ghebreyesus, an Ethiopian public health figure whose candidacy to lead the body was mainly supported by the Chinese government in opposition to a Western-backed figure. Tedros has come through in a big way for his Chinese Communist Party backers, taking the Chinese government line as the gospel truth and pushing against any and all parties who blame China for this plague year. The WHO has been inconsistent on nearly all aspects of its coronavirus approach, but for its constant support of the CCP. This should be unacceptable in a global public health organization.