Historic But Inadequate: Joseph Stiglitz on G7 Deal to Back a 15% Global Minimum Corporate Tax Rate

Finance ministers from seven of the world's wealthiest nations have backed a plan to set a minimum global corporate tax rate of at least 15% on multinational companies. The agreement, which was reached during a meeting in Britain of the G7, or Group of 7, is historic" but should have aimed higher, says economist Joseph Stiglitz. If you have too low of a tax rate, that minimum tax becomes, de facto, the maximum tax," he says.