Very interesting perspective at the 24min mark on regulating the European financial and capital markets through consolidation. Pragmatically, how would that work in practice in the absence of a true fiscal union which in turn raises risks of regulatory arbitrage. Great podcast as always to both of you btw!
Because Ms Vestager understands that competition is good, can't she push for more competition between european countries, in particular for much sharper tax competition? We desperately need lower taxes, slimmer and more efficient administrations, less rules and regulations, fewer government employees, fewer politicians. It is being attempted to impose a universal minimum tax of 15% on companies. That's the same as price-agreements (rigging) among companies, and exactly the opposite of competition. It's also a bad idea because it removes pressure from politicians to perform. We do not need you to punish Alphabet, who provides us (for free) with fantastic products that people love. We'd like to see european politicians punished, for tax-rigging, for cheating on the euro rules, and for betraying us about the euro (all the Maastricht rules went out of the window).
Our whole socieity depends on taxes to fund public goods that are necessary for a function system. A universal minimum tax is absolutely necessary to ensure the future of our society. If there is even more competition on lower taxes, the ones that benefit are tax havens, companies, and shareholders. If a company sells services or goods in the Netherlands, it should pay taxes in the Netherlands, not in Bermuda. I really fail to see how your logic makes any sense.
@@colinosprockel8065 I don't think that high taxes and a lot of public services are necessary for the future of our society. 'Public services' means that politicians get to decide who is going to be robbed, and who is going to get the money, and I do not think that any civilized society should be based on this modern form of slavery. One of the commandments says: 'You shall not steal', because people found out thousands of years ago that theft destroys societies. The government should limit its services to the absolute minimum (judiciary, military, basic health and education), and the private sector should be as large as possible. Nobody has a right to the fruits of the work of others. Everybody, including companies, should pay their share to finance the government, but there must be mechanisms in place that protect the people and the companies from politicians, and that make sure that governmental employees continuously improve their performance and efficiency. That requires competitive pressure. And any 'universal' laws would lead us to the worst tyranny mankind has ever witnessed. Politicians would just relax and increase the taxes to 100%. There must be competition between countries, to make sure that governments provide for the safety and prosperity of their citizens. They won't do so voluntarily, have never done so.
![[LIVE] : ONE ลุมพินี 88 | คู่เอก "ป้อมเพชร vs อัสลามจอน"](http://i.ytimg.com/vi/1ZqTVVbMgbo/mqdefault.jpg)
It's much more important to be an Innovation Superpower than a "Regulatory Superpower."
Please ask for more book recommendations from these brilliant people. I loved Sam Altman's recs.
Very interesting perspective at the 24min mark on regulating the European financial and capital markets through consolidation. Pragmatically, how would that work in practice in the absence of a true fiscal union which in turn raises risks of regulatory arbitrage. Great podcast as always to both of you btw!
Because Ms Vestager understands that competition is good, can't she push for more competition between european countries, in particular for much sharper tax competition? We desperately need lower taxes, slimmer and more efficient administrations, less rules and regulations, fewer government employees, fewer politicians. It is being attempted to impose a universal minimum tax of 15% on companies. That's the same as price-agreements (rigging) among companies, and exactly the opposite of competition. It's also a bad idea because it removes pressure from politicians to perform. We do not need you to punish Alphabet, who provides us (for free) with fantastic products that people love. We'd like to see european politicians punished, for tax-rigging, for cheating on the euro rules, and for betraying us about the euro (all the Maastricht rules went out of the window).
Our whole socieity depends on taxes to fund public goods that are necessary for a function system. A universal minimum tax is absolutely necessary to ensure the future of our society. If there is even more competition on lower taxes, the ones that benefit are tax havens, companies, and shareholders. If a company sells services or goods in the Netherlands, it should pay taxes in the Netherlands, not in Bermuda.
I really fail to see how your logic makes any sense.
@@colinosprockel8065 I don't think that high taxes and a lot of public services are necessary for the future of our society. 'Public services' means that politicians get to decide who is going to be robbed, and who is going to get the money, and I do not think that any civilized society should be based on this modern form of slavery. One of the commandments says: 'You shall not steal', because people found out thousands of years ago that theft destroys societies. The government should limit its services to the absolute minimum (judiciary, military, basic health and education), and the private sector should be as large as possible. Nobody has a right to the fruits of the work of others.
Everybody, including companies, should pay their share to finance the government, but there must be mechanisms in place that protect the people and the companies from politicians, and that make sure that governmental employees continuously improve their performance and efficiency. That requires competitive pressure.
And any 'universal' laws would lead us to the worst tyranny mankind has ever witnessed. Politicians would just relax and increase the taxes to 100%. There must be competition between countries, to make sure that governments provide for the safety and prosperity of their citizens. They won't do so voluntarily, have never done so.
Great content again NBIM..we need to see more regulators here,particularly those from the Basel Commitee. Thanks
Another fascinating conversation - with thanks for sharing this!
How is the Commissioner this obtuse? Does she really believe that she can regulate Europe into becoming a tech leader? Alas.
Does anyone know which book she mentions at 36:53
Risk aversion is litrally sophication for innovation. Be free-lets learn from America and not copy.
Control freaks