Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

'Normal' is killing us.

Donald Trump is out of the White House. COVID-19 is fading, at least in wealthier nations. The world, they say, is returning to “normal.” That’s the narrative that the corporate media is selling. But there’s a problem: “normal” is destroying our planet, threatening our democracies, concentrating massive wealth in a tiny elite, and leaving billions of people without access to life-saving vaccines amid a deadly pandemic. Here at Common Dreams, we refuse to accept any of this as “normal.” Common Dreams just launched our Mid-Year Campaign to make sure we have the funding we need to keep the progressive, independent journalism of Common Dreams alive. Whatever you can afford—no amount is too large or too small—please donate today to support our nonprofit, people-powered journalism and help us meet our goal.

Please select a donation method:

For Immediate Release

Contact

Press Release

Business Leaders and Millionaires Celebrate G7 Minimum Corporate Tax Deal as Good "First Step," Demand Even Higher Rates

"This deal on its own will not change much, but by setting the precedent of a minimum rate, it can and should serve as a foundation for more ambitious, impactful deals in the future."
WASHINGTON -

On Saturday, finance ministers from the G7 announced a deal to support a new global minimum corporate tax rate of 15%, which corporations would have to pay regardless of where they are headquartered. In response to this historic agreement, Morris Pearl, former managing director at Blackrock, Inc., and Chair of the Patriotic Millionaires, issued the following statement:

"The G7 deal on a global minimum corporate tax rate of at least 15% is incredibly promising and a significant victory for global tax fairness, but it's also entirely inadequate. Setting any sort of global minimum is a much-needed first step that will stop the international race to the bottom of corporate tax rates. But it is just that, a first step that requires further action.

A 15% rate is way too low, lower than the current corporate tax rates of virtually every member of the G20. This deal on its own will not change much, but by setting the precedent of a minimum rate, it can and should serve as a foundation for more ambitious, impactful deals in the future."

###

Patriotic Millionaires

The Patriotic Millionaires is a group of high-net worth Americans who share a profound concern about the destabilizing level of inequality in America. Our work centers on the two things that matter most in a capitalist democracy: power and money. Our goal is to ensure that the country’s political economy is structured to meet the needs of regular Americans, rather than just millionaires. We focus on three “first” principles: a highly progressive tax system, a livable minimum wage, and equal political representation for all citizens.

Lawmakers Tell Biden US Has 'Moral Obligation' to Ban Landmines

"If the United States takes these steps it will be welcomed around the world."

Andrea Germanos, staff writer ·


Report on ICE Reveals 'Cruelty and Coercion' Against Hunger Strikers

The U.S. agency's systemic response of "coercion and violence," said an ACLU attorney, "speaks to the inherently abusive and inhumane nature of immigration detention."

Jessica Corbett, staff writer ·


Proposed New Oil Field in Scotland Ahead of Glasgow Climate Talks Decried as 'Obscenity'

"If ministers are serious about facing up to the climate crisis they must end their support for climate wrecking fossil fuels at home and abroad."

Julia Conley, staff writer ·


'We're Not Going Away!' Nonviolent Protest Over Voting Rights Ends With Arrests in DC

"We're saying across this country, it's time for people... to march on these Senate offices," declared Rev. William Barber.

Jake Johnson, staff writer ·


Leaked IPCC Draft Climate Report 'Reads Like a 4,000-Page Indictment' of Humanity's Failure

"This is a warning of existential risk. Of survival. Of collapse," said Extinction Rebellion.

Andrea Germanos, staff writer ·