GLOBAL PICKPOCKETS
Well brought-up individuals are taught not to take things from other people’s pockets: “Thou shall not steal.” There are those who never learned the lesson — criminals, and many in the global political class.
The latest targets of the global looters are multinational corporations. During the last few years, there has been an effort by high-tax countries (many of which are rich) to establish global minimum corporate taxes and for international tax bureaucrats to determine how taxes on a company should be allocated among the jurisdictions in which it operates.
Even though the effort is cloaked as an issue of "tax fairness," it is really an effort of more powerful countries and their political classes to take away more from those who earned it and spend it on themselves and their friends.
This effort to tax companies more raises a series of questions.
First, is it wrong for corporate officers to try legally to minimize their company's tax bills? No, in fact, corporate officers have a fiduciary responsibility to their stockholders, employees and even their customers to minimize costs, including taxes.
Second, should corporations be taxed at all? Again, the answer is No. Here’s why.



