There is No Case To Be Made For a 21% Corporate Tax Rate: Summers

The video discusses the importance of taxation in supporting economic investments and the need for fair tax systems to reduce evasion. It highlights the potential for raising significant tax revenue through better enforcement and closing loopholes. The speaker advocates for international cooperation to address tax arbitrage and tax havens. Additionally, concerns about inflation and economic overheating are addressed, comparing current fiscal policies to those of the past.

What is one of the main reasons for raising tax revenue according to the speaker?

• To support international trade agreements

• To reduce the number of taxpayers

• To make the economy function better

• To increase government spending on luxury items

Which of the following is a method mentioned to prevent tax evasion?

• Eliminating all tax shelters

• Reducing government investments

• Increasing corporate tax rates

• Enforcing existing tax laws

What is the speaker's stance on a corporate minimum tax?

• It should be implemented only if other countries agree

• It should be implemented regardless of international coordination

• It should not be implemented at all

• It should be implemented only for tech companies

What was a significant challenge faced in the 1990s regarding tax havens?

• Insufficient tax laws

• Moral opposition from the Bush administration

• High corporate tax rates

• Lack of international cooperation

How does the speaker compare current fiscal expansion to that of the 1960s?

• It is three to four times larger

• It is about the same size

• It is smaller than the 1960s expansion

• It is not comparable

What is a concern mentioned about the Federal Reserve's current policy?

• It is not acting in advance on inflation

• It is reducing its balance sheet too quickly

• It is focusing too much on international trade

• It is too aggressive in raising interest rates

What does the speaker suggest about the potential for inflation to increase rapidly?

• It is not a concern at all

• It will remain stable for years

• It can ratchet up quickly

• It is unlikely to happen quickly