taxation

Several places are already putting Pillar Two into action, and many governments want their plans to be accepted before the end of 2023. But it's hard to guess how Pillar Two will affect the government's income. Because of this, only a few countries have shared their results with the world.

Words have meaning, and definitions can become ambiguous and 'slippery.' Language naturally evolves as words change over time, but frequently a key meaning is lost and there is no longer a single term to define a notion. This has been the case with the term 'inflation,' a prevalent one.

Keynesian programs hurt the things they were meant to help. The United States is the best example of this. A few years ago, in 2021, I talked to Judy Shelton. She told me that the recovery would be much better without the stimulus package, and she was right. Massive government spending and creating more money have hurt the economy and made people poorer.

'The criteria of simplicity, transparency, predictability, and justice should be met by new own resources.'

The expression, which gained popularity during America's own revolution, is a tribute to a well-known Englishman who opposed King Charles I's 'ship tax.'

The Joint Committee on Taxation (JCT) looked at the impact of adopting the OECD's Pillar Two in a recently report. The analysis looks at the current law for multinational enterprises (MNEs), explains how the Pillar Two deal works, and gives JCT's opinion on how the deal might affect government revenue.

Economics is all about the value of missed chances.

Some claim that this is not a tax because of definitional difficulties, yet it seems appropriate to term it a tax when government action transfers wealth from a group of people to themselves.