Via The Weekly Standard, here’s video of Gene Sperling, the director of the White House national economic council, talking about President Obama’s proposed budget. He said to ensure “fairness” and to keep people from using tax shelters “we need a global minimum tax.”
“He supports corporate tax reform that would reduce expenditures and loopholes, lower rates for people investing and creating jobs in the U.S., due so further for manufacturing, and that we need to, as we have the Buffett Rule and the individual tax reform, we need a global minimum tax so that people have the assurance that nobody is escaping doing their fair share as part of a race to the bottom or having our tax code actually subsidized and facilitate people moving their funds to tax havens.”
He went on to talk about “shared sacrifice” but didn’t mention the 50% of Americans who don’t pay any federal income tax at all.
Watch and listen for yourself if you don’t believe me.
A global minimum tax? What could go wrong?
Update: Linked by Maggie’s Notebook – thanks!
Update: Linked by WyBlog – thanks!