Hacker News new | ask | show | jobs
by Gustomaximus 3068 days ago
I think there is one solution to this, the G20/WTO type organisations need to come to an agreement that to trade with each other they have minimum tax rates. Countries are free to tax higher but if say these nations agree to say a minimum 25% type thing, then any country or company operating outside of this agreement is not welcome. I'd be inclined to do the same thing for personal tax. Otherwise we risk a race to the bottom for tax rates if we let cooperates continue this.

And this is 'capitalism' done right. Part of governments role is to create a 'level playing field' for business and stop a handful of larger/international companies having a non business advantage.

Further, I'd be inclined to go a bit nuclear with punishments and make rules that abuser pay 100x what they gained and the company assets/brand in which they did this for are seized and auctioned.

This later seems harsh but if we don't stop companies doing this we may see serious repercussions on government's ability to provide for society as we know it. Companies need to feel the risk is not worth the reward. I doubt this will happen, as an Australian our Prime Minister us known to have his hundreds of millions stashed in the Caymen Islands. What an example for the nation and likelyhood of crackdown seems low.

1 comments

And this is 'capitalism' done right. Part of governments role is to create a 'level playing field' for business and stop a handful of larger/international companies having a non business advantage.

States do not exist over capitalism but under it. States competing for tax money is capitalism working perfectly, and about time this tax nonsense (or atleast overcharging productive class) comes to halt.

To give an contrarian opinion, I am extremely happy that states are finally made to work for the money.