Eye2theLongRun

Global “leaders” (politicians) have reached the momentous decision to increase the tax on “big business” by 15% so as to improve the overall state of the world https://www.rnz.co.nz/news/world/454581/g20-climate-and-covid-19-also-on-agenda-as-world-leaders-meet.

Presumably the resulting revenue will be applied to “good works”. Even in New Zealand (one of the most tax efficient countries) each dollar of revenue raised by tax costs around $1.20 to raise – or “put in a dollar get $0.80”. At the same time there is the minor issue of reducing the incentives, passion and capacity of the world’s most successful enterprises by some significant amount to be ultimately born by their consumers who get to pay for this thereby reducing such contribution as they choose to make.

The remuneration of those reaching this historic agreement is of course funded by taxes.