Intense discussion has broken out over the US proposal to raise global corporate income tax to at least 15%. More than 130 nations are currently involved in the debate.
So far, the surge has received positive comments from France, Germany, Italy and Japan, and the US is hoping for support from all G7 members.
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RT’s Boom Bust spoke to business update host Professor Richard Wolff and Jeffrey Tucker, author of Liberty or Lockdown, to find out what’s next for the initiative and if everyone is expected to be on board.
According to Professor Wolff, the idea is to limit the use of taxes as a competitive tool that helps governments attract investment into their countries.
However, it remains an open question which states support the idea and which are against it, Tucker said.
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