Apr 08, 2021 Guest(s): Rick Rule President & CEO, Sprott U.S. Holdings
U.S. Treasury Secretary Janet Yellen has proposed a global minimum corporate tax rate for large companies.
"We're working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom. Together, we can use the global minimum tax to make sure that the global economy thrives, based on a more level playing field in the taxation of multinational corporations and spurs innovation, growth and prosperity," Yellen said at a meeting with the Chicago Council on Global Affairs.
Rick Rule, Director of Sprott Inc. called this proposal "despicable" and said that it was more of an effort by the government to flex raw power than to actually create prosperity.