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Please verify your request Advertisement The Biden administration won a victory last week when 130 countries agreed in principle to establish a global minimum tax on corporate profits, but according to economist Gabriel Zucman, writing in The New York Times Wednesday, the potential 15% levy is “too little, too late.” Along with graphics editor Gus Wezerek, Zucman lays out the argument that multinational corporations have been the main winners of the global “race to the bottom” in tax rates, with disastrous results for middle-class taxpayers. Over the last few decades, a handful of countries such as Ireland and Bermuda have become legal tax havens, helping U.S. business owners slash their tax bills while amassing unprecedented wealth. To make up for lost tax revenues at home, Congress has raised taxes on labor.

United statesWhite houseDistrict of columbiaGabriel zucmanGus wezerekNew york times wednesdayInternal revenue codeஒன்றுபட்டது மாநிலங்களில்வெள்ளை வீடுமாவட்டம் ஆஃப் கொலம்பியாபுதியது யார்க் முறை புதன்கிழமைஉள் வருவாய் குறியீடு