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Finance ministers from the group of seven rich countries (G7) will vow this week to support their economies as they emerge from the pandemic and reach an "ambitious" deal on a minimum global corporate tax in July, a draft communique indicates.G7 officials, set to meet in London on June 4-5, will also say that once the recovery is well established, they will need to "ensure long-term sustainability of public finances," which is understood to be code for a gradual withdrawal of stimulus.

Biden is set to take a big step toward a global minimum corporate tax

Biden Wants a Global Minimum Tax to Offset His Proposed Huge Corporate Tax Increase May 17th 2021, 12:29 pm Raising the US corporate tax would drive more capital out of the US. But the tax hike will be less risky if the US can get other countries to raise their tax rates as well Image Credit: Email In the classic 1939 film, The Roaring Twenties, a desperate James Cagney tells Priscilla Lane, “You want the Brooklyn Bridge, all you gotta do is ask for it. If I can’t buy it, I’ll steal it.” Like a desperate lovesick puppy trying to force the object of his affection to fall in love with...