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The Great American Tax Gambit

Summary:
Add to Bookmarks Apr 15, 2021 US President Joe Biden is seeking to raise America’s corporate tax rate from 21% to 28% and introduce a global minimum corporate tax in order to halt an international “race to the bottom.” The bold proposal has sharpened the debate about how his administration should finance its ambitious spending plans, and, more broadly, how to tax increasingly footloose multinational companies. In this Big Picture, MIT’s Daron Acemoglu welcomes Biden’s plan, saying that it would increase corporations’ share of US federal tax revenues and

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US President Joe Biden is seeking to raise America’s corporate tax rate from 21% to 28% and introduce a global minimum corporate tax in order to halt an international “race to the bottom.” The bold proposal has sharpened the debate about how his administration should finance its ambitious spending plans, and, more broadly, how to tax increasingly footloose multinational companies.

In this Big Picture, MIT’s Daron Acemoglu welcomes Biden’s plan, saying that it would increase corporations’ share of US federal tax revenues and potentially revolutionize corporate taxation worldwide. And fair taxation of multinationals, argue José Antonio Ocampo, Nobel laureate economist 

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