May 17, 2021
International Man: Recently, Secretary of Treasury Janet Yellen called for a global minimum tax rate because it would reduce the likelihood of US companies moving offshore. It seems that the US government recognizes that its confiscatory tax policies are driving productive people and companies out and is looking to make sure they have nowhere to run. What is really going on here? Jeff Thomas: For many years, I’ve heard businesspeople, particularly American businesspeople, complain that their government is making all the wrong moves; that neither increased taxation nor capital controls are going to help business succeed and thrive in America. I’m afraid that they’re looking at this the wrong way round. They’re making the assumption that the government’s primary objective is to serve the American people. It is not. Governments don’t see themselves as existing to serve the people, they see themselves as feeding off the people. They are essentially parasitical organizations that produce nothing and consume what they can successfully take from the populace. Once that concept is understood, such moves as the present one become easier to understand.