The Biden administration has thrown its weight behind the adoption of a global minimum tax on corporations.

The move, they say, is meant to address rampant and exploding global inequality.

We need a new system. We need a new society. We need to demand that which may have sounded impossible

even a few weeks ago, but is not only realizable, but an imperative necessity. deepening unemployment a looming wave of evictions massive massive and widening inequality. There's no denying it.

Capitalism is in crisis and capitalism is the crisis. We are excited to have Professor Richard

Wolf join us once again for our regular weekly segment where we discuss the biggest stories

related to the economy, the state of the

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Richard Wolfe is the co-founder of the organization Democracy at Work and the author of many books.

The latest being The Sickness is the System when capitalism fails to save us from pandemics or itself.

Be sure to check out his work at

R-D-Wolf.com. That's R-D-W-O-L-F-F.com. Richard Wolfe, welcome back. Thank you.

Very happy to be here. Thank you for joining. So Janet Yellen, she's for the global minimum

tax rate. Joe Biden is for it. Not everyone is for it.

I'm looking at Nobel Prize winner economist Angus Deaton. He says a wealth tax is a bad way to pay off

pandemic debts and would probably become permanent if introduced. Anyway, is it impactful?

What does it mean?

Is Angus Deaton right?

Well, let's unpack it.

First of all, Janet Yellen's comments and that of other administration officials

...