Tax Rates Race to the Bottom?

U.S. Treasury Secretary Janet Yellen attends G7 finance ministers meeting at Lancaster House in London, England, on June 5, 2021. Alberto Pezzali/WPA Pool/Getty Images

Commentary

According to U.S. Treasury Secretary Janet Yellen, global corporate income taxes have been lo these many years “racing to the bottom.” This must be nipped in the bud, in her opinion, if prosperity is to be attained.