“The Biden administration proposes a global minimum tax on corporations to end the ‘global race to the bottom.’ Leaving aside the wisdom of letting France tax U.S.-based corporations, this phrase recalls one of the regnant canards of our time: Capitalism inevitably lowers living standards and grinds people down into poverty.” - Acton
“As iron sharpens iron, so one person sharpens another.” (Proverbs 27:17)
The fallacy of capitalism’s ‘race to the bottom’
Since 2005
Image
