tag:blogger.com,1999:blog-7895164153505105997.post2409725072486886751..comments2024-01-17T00:45:37.075-08:00Comments on Bud Meyers: Cash Transfers vs. Quantitative EasingBud Meyershttp://www.blogger.com/profile/02065020063363023395noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7895164153505105997.post-16006395479028157552014-08-27T08:05:36.489-07:002014-08-27T08:05:36.489-07:00As an after-thought:
The world's economies a...As an after-thought: <br /><br />The world's economies and the financial system are now "global" and so interconnected that, why shouldn't social programs, corporate taxation and wages also be? Multinational corporations influence economies all over the world. Domestic and foreign firms have been merging, with citizens sitting on their board-of-directors as executives and investors from several different counties — and often sitting on multiple boards-of-directors. These multinational corporations compete not only for business revenues, but for the lowest tax rates and wages as well (not to mention the least in regulatory, worker safety and environmental laws). Multinationals also use international laws to impose their will on the local citizens (and influence politics and elections). If ordinary citizens of the governments of the G-8 (or is it now the G-7 without Russia?) demanded that they got together in their trades deals, they could not only compromise on an international corporate tax rate, but also on a minimum wage AND a maximum wage for all of their employees (from the CEOs to the janitors) — but just for the multinational corporations and their employees. Local businesses, tax rates and employees wouldn't be included. Only those businesses who operate and hire employees in multiple countries — and so, wouldn't effect their sales or exports. And then when robots at a Taiwanese company (such as a contract manufacturer like Foxconn), which is located in China (who is manufacturing widgets for American companies for export to other countries), makes their local human labor obsolete and displaces them, then those who were made unemployed by the multinationals can also be paid the prevailing international minimum wage in the form of a Basic Income (which would not apply to willful terminations and quits, but only to layoffs).Bud Meyershttps://www.blogger.com/profile/02065020063363023395noreply@blogger.com