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Topic: The Awesomesauce of Globalism (Read 9862 times)

  • jax
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The Awesomesauce of Globalism
This forum has had plenty threads constrained to narrow geographic regions like Eurafrica and the Americas, but not a single one for transcending those boundaries. Until now.

This thread extols the joys of a global world, how people the world over break out of their cramped nationalistic prison cells into the free soaring space of globalism.

Here we can celebrate our global interconnectedness, our mobility, our creativity,  our collective joy of life.

In this thread you too can join the world.

  • Frenzie
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Re: The Awesomesauce of Globalism
Reply #50
Seeing a graph cut off like that always makes me wonder it they're trying to make a temporary blip look really important. :P

  • jax
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  • Global Moderator
Re: The Awesomesauce of Globalism
Reply #51

  • Frenzie
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Re: The Awesomesauce of Globalism
Reply #52
About 30 victims from about 30 countries? Impressive. (Oh wait, I realized victims != deceased.)

  • jax
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  • Global Moderator
Re: The Awesomesauce of Globalism
Reply #53
Tricky to pick the right thread, Finding the best system of economy or
Today's Good News, but here we are.

Janet Yellen calls for a global minimum tax on companies. Could it happen?

Quote
CORPORATE TAXATION is one of the thorniest issues in international economic policy. Janet Yellen, President Joe Biden's treasury secretary, and a former head of the Federal Reserve, is duly weighing in. On April 5th she grabbed the attention of the occupants of corner offices worldwide with a speech to the Chicago Council on Global Affairs. The headline was a call for countries to agree on a global minimum tax rate for large companies.

Such a levy, Ms Yellen said, would help "make sure the global economy thrives based on a more level playing field", and would help end a "30-year race to the bottom". Though the idea of a minimum tax raises hackles in tax havens in the Caribbean, parts of Europe and farther afield, many other big economies will welcome America's renewed commitment to multilateralism on tax after the prickly unilateralism of the Trump years.

Over the past decade, growing corporate-tax avoidance has met with a growing backlash. Breakneck globalisation allowed multinationals to replace fears of double taxation with the joys of double non-taxation, using havens to game the system. By exploiting mismatches between countries' tax laws, taxable profits could be cut or even made to disappear. The game became easier with the rise of intangible assets, which can be shifted between jurisdictions more easily than buildings or machinery. Big tech has been a big beneficiary: the five largest Silicon Valley giants paid $220bn in cash taxes over the past decade, just 16% of their cumulative pre-tax profits.

 




  • OakdaleFTL
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Re: The Awesomesauce of Globalism
Reply #54
Ah! Thank you again, jax: You bring up the most interesting (far reaching) topics but too you present them with your thoughtful viewpoint.
First, I'd answer the question you pose (I've not followed your links yet...): No. Not only will it not happen, it would be calamitous if it did. A regime of global taxation presumes a world of homogeneous circumstances, economies each on a par with the others. Without an overarching administration of some pretense at world government, such a monolithic conception of political economy will suffer the same fate the United Nations has: It will be perverted to the various ends -ends which preceded it and which it was presumed to frustrate- and become not just useless but a home for the more sinister motives, natural and normal though they be, of men. Human nature is what it is; imperfect, of course -but also im-perfectable. Motives run the gamut, and none will be denied some power. And even the best of motives guiding the most practiced and faultless endeavor will sometimes fail: Stuff happens, will or no.
The first War the U.N. sanctioned remains still today in a state of truce... The created state of Israel, although the only democratic state in its area and arguably the most successful and prosperous and precocious bit of civilization to be found there, is hated by many -it's demise or dissolution actually plotted by some of its neighbors. Attempts to help as often as not hinder: DDT is banned and perhaps millions die of malaria needlessly; tent netting replaces mosquito abatement, which -the netting- provides employment for the idle poor of some very poor nations and profit for those who rule in splendorous aloofness from the squalor of these... Golden corn, offered free, as a cure for vitamin deficiency-caused debilitating malady is rejected -because entrenched power structures inculcate mistrust in technology; a case of Better the Devil You Know? Or a case of Keep, Protect and Preserve those you can control?
From the IPCC to the WHO, politics at its most viciously inept sneaks into crucial positions and twarts the most good these organizations could do.

And this -our United Nations, an enduring "edifice" to our better nature- is to be enhanced by the taxation powers of the many varied and sundry nations extant...to do what, exactly?
Eliminate greed or -at least- its successes; its excesses? To mollify the planners' guilt at their failures -to create equity and equality? To curb the eternal tendency of avarice to win the spoils? (Even when those winnings usually enrich everything they touch? Abutting unusual success is become the habit of widespread and mostly harmonious advance, no?)

Yellin'Jellen be tellin' fables whose morals are Puritanical in fervor and tyrannical in effect, I say. Noone has the knowledge to try such an ambitious remaking of economic reality, let alone effect the changes predicted from such. Pride goeth before the fall; hubris precedes the most precipitous of sprawls!
dej ღ

Have I made my objections clear? :)
进行 ...
"Humor is emotional chaos remembered in tranquility." - James Thurber
"Science is the belief in the ignorance of experts!" - Richard Feynman
 (iBook G4 - Panther | Mac mini i5 - El Capitan)

  • ersi
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Re: The Awesomesauce of Globalism
Reply #55
In my opinion, the far more important measure would be to agree on that, whatever the local tax system, companies must NOT be able to negotiate to evade the system. Negotiating exemptions is on a par with bribery.

  • OakdaleFTL
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Re: The Awesomesauce of Globalism
Reply #56
And: Freedom is Slavery! (Where have we heard this before? :)
进行 ...
"Humor is emotional chaos remembered in tranquility." - James Thurber
"Science is the belief in the ignorance of experts!" - Richard Feynman
 (iBook G4 - Panther | Mac mini i5 - El Capitan)

  • jax
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  • Global Moderator
Re: The Awesomesauce of Globalism
Reply #57
Tricky to pick the right thread, Finding the best system of economy or
Today's Good News, but here we are.

Janet Yellen calls for a global minimum tax on companies. Could it happen?

G7: Rich nations confident on reaching tech tax deal
Quote
Finance ministers from the G7 group of leading economies are confident of striking a deal on taxing multinational companies at their meeting in London.

The agreement is expected to include a global minimum rate of corporation tax. It would target tech giants such as Amazon and Microsoft.

German finance minister Olaf Scholz said the deal would "change the world". He said a 15% rate would help pay back debts that have built up during the pandemic - and that he was "absolutely confident" there would be an agreement. "If we agree on the minimum taxation for corporates, this will help to go out of this race to the bottom we see with taxes today," he told the BBC.