Assorted content to end your week.
– Armine Yalnizyan writes that the response to the European Commission’s finding that Apple has dodged $20 billion in taxes may tell us all we need to know about the relative power of governments and corporations:
The EC is also investigating state support received by Amazon and McDonalds in Luxembourg, a tax haven. Expect more costly court battles about the appropriateness of laws and systems of governance.
Since the 2008 economic crisis, giant corporations have gone from being “too big to fail” to “too big to pay.”
But as the big tax avoiders get feisty, so too are voters. The Panama Papers have made people aware of the hypocrisy: when those with deep pockets don’t pay, everyone else pays more. Governments are legitimately worried about their finances, and more focused on tax fairness than in decades. But as corporations both fight and rewrite the rules, occasionally cash-starved, debt-ridden nations are being enlisted to support their agenda.
The Apple story is huge. It could presage the end of tax competition, as nations co-ordinate attempts to combat absurd levels of tax-dodging. Or it could signal growing dominance of corporate power over state power. High stakes, to be sure, in the evolution of 21st-century globalization.
– Meanwhile, Allan Sloan discusses how Mylan’s profiteering in ratcheting up the price of EpiPens has been paired with glaring tax avoidance. And the NDP points out the conspicuous lack of any public benefit from the Libs’ and Cons’ track record of corporate tax slashing in Canada.
– Alex Hemingway writes about the costs of privatizing public infrastructure. And Thomas Walkom highlights the Libs’ options in reviewing Canada Post’s future – which include taking an obvious opportunity to better meet a large number of social needs through a postal banking system.
– Bloomberg View rightly argues that fossil fuel subsidies are about the dumbest possible type of public policy. And Samantha Page offers another reason why that’s so by pointing out the devastating health effects of oil and gas production and distribution.
– Finally, Simon Enoch offers a much-needed warning to the rest of Canada as to what Saskatchewan faces with Brad Wall in power. . . . → Read More: Accidental Deliberations: Friday Morning Links