The Obama administration, through the mouth of White House National Economic Council Director Gene Sperling, has concocted, yet again, another brilliant idea: Implementing a “global minimum tax” that China will ignore and would likely be run by the United Nations.
Is this guy serious?
“He supports corporate tax reform that would cut expenditures and loopholes, lower rates for people investing and creating jobs in the U.S…. we need a global minimum tax so that people have the assurance that nobody is escaping doing their fair share as part of a race to the bottom or having our tax code actually subsidized and facilitate people moving their funds to tax havens,” Sperling said.
The Weekly Standard caught the video, just in case you don’t believe me: