Open thread: global tax coordination

U.S. Treasury Secretary Janet Yellen has raised the idea of a coordinated global minimum corporate tax, with the aim of disrupting ‘race to the bottom’ dynamics in taxation and the shift of assets to tax havens.

Global coordination is likely a necessary prerequisite to effective wealth taxation.

It could also help to improve the tolerability and effectiveness of carbon taxes, as domestic producers would be less able to use inaction elsewhere as a way to resist decarbonization policy proposals.