Communist and other left wing parties who put enormous pressure in their parliaments and so on to target monopolies that are basically ripping everybody off so thats why they have more of a movement having said that being more into taxing big corporations in america isnt saying very much unfortunately so yeah the europeans are ahead of us but theres a lot of wheeling and dealing behind the scenes that goes on and there is a serious risk that the europeans in order to placate their own people will give a little slap on the wrist to these big corporations but whether theyll go further and really deal with the problem thats a little more of a question on one issue however they will go further they are furious that big corporations can pick and choose in europe which scum tree to locate in for example. Many have gone to ireland because the irish have a very low corporate profit rate so they get the pay low rates it whichever country has the lowest 1. 00 so the countries compete with one an
O. E. C. D. Would address the problem of corporations exploiting official locations of licenses or patents to lower or totally evade taxes followers of big tech reporting noted the inclusion among the proposals of some from u. S. Delegates as well as targeting companies outside the u. S. Dominant tech sector those 2 developments were taken to signs that the proposal may be likely to receive an official green light from the new from the United States the u. S. And the European Union have been clashing recently over whether and how to rein in the big names from the u. S. Amazon facebook and google among others. Joining us now to give us a handle on the economic events of the day is professor Richard Wolfe Professor Emeritus of economics at the university of massachusetts amherst and the author of democracy at work a cure for capitalism welcome back professor wolfe and 1st on this tax avoidance tax avoidance push by the o. E. C. D. Does it go far enough in your view is it likely to have.
Does it go far enough in your view is it likely to happen and how does this push compared to u. S. Action on reining in big tax in terms of taxes. But let me go in there the reverse order the europeans have consistently been ahead of the United States and trying to do something about the monopolies as they see it operated by the High Tech Companies in the world who work very hard to corner particular technologies that they can then sell out of inflated price because theyre the only producer who develop their technology precisely to produce things that others wont have for a while so theyll be the only seller and can therefore get but not believe price and the reason is not far to look in europe you have a much more powerful Labor Movement and in this country you have strong socialist communist and other left wing parties who put enormous pressure in their. Armaments and so on to target monopolies that are basically ripping everybody off so thats why they have to have more of a movement