Biden’s plans for a global corporate tax rate could make the world a fairer place

Rube Goldberg economics at its best. Biden wants to raise US corporate taxes from 21% to 28%. Of course businesses will respond by corporate inversion, keeping profits overseas etc. The raising taxes will make US products more expensive overseas and give foreign producers an advantage. To overcome this Biden wants every country to raise taxes. Many countries enjoy the advantage of lower taxes. I think a universal corporate tax raise is dead on arrival. If Biden gets America’s corporate taxes raised we are in big trouble.