The optimism fueling the NASDAQ’s rise of today should tamper with this news.
Anyway, all states around the world will chase cash tempting to reduce their deficits.
Households will pay the bill one day or another, but the quick-win will be to tax the Covid-winners and FANGMAN will be the main targets. If the US administration wants to puncture a part of their profits, they have to allow other countries to practice the same sport…
On Friday, Yellen said at a meeting of G20 finance ministers that the US “is no longer advocating for safe harbor implementation”, a US Treasury official told the Financial Times.
The US “will engage robustly to address both pillars of the OECD project, the tax challenges of digitization and a robust global minimum tax”, the official said.