This alone: >>The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies. >>In thei

This alone: >>The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies. >>In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered. Was enough to address this concern: >>If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere. Not only can the concerns that are being used to justify a global minimum tax be addressed through other means, the tax agreement itself is a terrible policy, because it freezes the evolution of tax policy for the whole world, presupposing that an income tax, and specifically a corporate income tax, is ideal. There are structural problems with the corporate income tax, and many economists argue for eliminating it altogether, and replacing it with other types of taxes (e.g. a transaction tax, a carbon tax, a land tax, etc). But this locks it in place as a constant for all countries. It's exactly this kind of homogenization of governance that Europe had to get past to prosper: https://aeon.co/amp/essays/how-the-fall-of-the-roman-empire-paved-the-road-to-modernity https://aeon.co/amp/essays/how-the-fall-of-the-roman-empire-...