This is

this is CBSi and the world. I'm John Batcher.

Professor Richard Epstein of the Hoover Institution is here to help me with these

global tax ideas. There are three of them. We've discussed the idea of

a minimum tax globally. Now we turn to the taxes on the 100 largest corporations, multinationals how you discern that list is

important but we're not addressing that now I want to raise the possibility of is

this efficient Richard is a classical liberal so I'm

asking him a question that is transnational and also what does this mean about

China's large corporations which are certainly competitive will we tax them?

Well I mean you're asking all the right questions to which there are no easy answers

but let's just assume that you could do this thing worldwide and the Chinese and the Russians and everybody else is going to be drawn into the same pot.

What you do is you look at these large corporations and you have to ask two questions.

One, is this result of efficiencies? Two is this stuff

the result of restraint on trade. If it's a result of restraint on trade then

presumably some kind of an antitrust remedy would be appropriate, but that would not be to the entire

firm. It would be with respect to the particular practices on given given lines of

commerce that might be subject to it. So if you wish to attack Apple or Google, they engage

in a thousand different practices. 998 of them may be legal and two of them may be

wrong. The antitrust solution would pick the two or the twenty or the fifty and that

turn out to be incorrect and then try to go after them. There's a lot of

difficulty there because there's a kind of wrong kind of mentality around the

United States that the COBRA bill, for example, in which everybody

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