Since the start of the pandemic in 2020, the Federal government has been extremely involved in the U.S. economy. Stimulus after stimulus has been passed by Congress without much thought about the externalities of such new policies. One of the largest interventions by the government over this time period has been the increased amount of unemployment insurance benefits available to individuals that have lost their jobs.
The Group of Seven (G7), which consists of seven wealthy democracies including Canada, France, Germany, Italy, Japan, the UK, and the US, met over the weekend to consider a ‘global minimum corporate tax rate’. A new minimum rate of at least 15% was tentatively agreed on.