Fair taxes and global capitalism
Falling effective rates of tax on corporate profits have greatly undercut government revenues, with no overall economic gain.
Falling effective rates of tax on corporate profits have greatly undercut government revenues, with no overall economic gain.
The global economy has to be seen, not so much as a set of discrete national economies trading with each other, but as a vast “macro financial” web of corporate balance sheets and financial flows.
Aivalis’ argument that Pierre Trudeau was a “Constant Liberal” is subtle, and acknowledges that organized labour and the NDP were not always consistently advocating policies well to the left of the Liberals.
Turner is clear that any move in this direction should be undertaken by central banks, not by governments seizing control of the printing press, and is certainly aware of the risk of inflation if directly financed deficits get out of hand.