Contributions to public policy debates

A global asset registry

We need a global asset registry recording the beneficial owners of the world’s financial and real assets. Such a registry would make it possible to not only reduce tax evasion, but also curb money laundering, monitor international capital flows, fight kleptocracy, and better measure inequality.

Stopping profit shifting and tax competition

There is a simple fix to the shifting of profits to low-tax countries. We could apportion the global profits of multinational firms proportionally to where they make their sales. Any country could unilaterally move to such a system, which would put an end to multinationals’ tax avoidance and tax competition.

Regulating tax havens

Sanctions can change the incentives of the firms and countries that facilitate financial crimes. Banks and law firms found helping tax evasion should be put out of business. The United States and the European Union could impose proportional trade tariffs on non-cooperative tax havens. Tax cooperation needs to be put at the center of free-trade talks.

Fixing U.S. inequality

Income and wealth inequality have increased dramatically in the United States since the 1980s, much more than in the rest of the developed world. Policies play a key role in shaping the distribution of economic resources. A progressive wealth tax could make growth in America equitable again.