The global taxman cometh

Joe Biden, doing the Joe Biden thing again:

“For years, American manufacturers have faced one of the highest tax rates in the world. We want to reduce that by over 20%. We want to drop the rate, particularly, for high-tech manufacturers like you, Mr. President, even further than the 20%,” Vice President Joe Biden said at a manufacturing plant in Davenport, Iowa this week.

We want to create a global minimum tax, because American taxpayers shouldn’t be providing a larger subsidy for investing abroad than investing at home,” Biden said at a campaign event.

(Emphasis mine.)

Biden didn’t explain who exactly would be the global taxing authority, but I don’t think we would like the answer.

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