Multilateral Treaty to Raise Corporate and Wealth Tax

             The wealthy and corporations move much of their money to low tax areas. Many corporations in the United States have inverted, meaning their headquarters are officially in other countries with lower tax rates, despite much of their employees and operations being in the United States. The wealthy have stored hundreds of millions or billions of dollars in tax havens with low tax rates. These corporate revenues and tax havens are a serious injustice.

The wealthy often advocate for libertarian or even anarchical tax positions, and many believe they know what their tax rate should be. However, merely owning a lot does not make one a tax expert, or know anything about what their tax rate should be. Globalization has allowed for vast amounts of wealth to be created, part of that globalization should be a tax on wealth and financial transactions. Since countries are in competition for tax revenue, this creates a race to the bottom, with ever lower tax rates.

The solution to this problem of low tax havens is a multilateral treaty to raise taxes.