This is CBS Eye on the World with John Bachelorette. Here's John Bachelorette.

This is CBS Eye on the World. I'm John Bachelorette, Texas. Not only Texas in the United

States, not only the IRS, but global taxes in the news because Janet Yellen and the G7

finance ministers have been discussing global taxes in several iterations. And the G7

itself meeting in Europe in Great Britain, discussing a minimum tax. That's one of the presentations

by the finance ministers. I welcome Richard Epstein, Professor Richard Epstein,

teaches law at NYU and the University of Chicago. And I learned that Richard has been

writing about taxes for 50 years. So, pending Edmund Burke showing up, Richard will do for an

overall view of how we've gone through several administrations, always making tax adjustments

that are then adjusted again. Richard, is it a senior fellow at the Hoover Institution?

Richard, a very good evening to you. The presentation by the finance ministers of G7,

finance ministers, including Janet Yellen, former chairman of the Federal Reserve now,

Secretary of the Treasury, is three parts to my reading. And I go quickly through one,

a tax rate on the 100 largest multinationals on Earth. That is not enamedless, but we can guess

if some of them, two, a minimum tax, global minimum tax on corporations, and three,

a digital tax on companies, corporations, multinationals that do business in a country without

a presence in the country. Google would be an example of advertising. I want to start with the

global minimum tax, because that has come up again in headlines from the G7 meeting.

It's 15% is the number they're using, but as I understand it, there are countries higher,

there are countries lower. So what is your understanding of their ambition for global minimum tax?

Good evening to you, Richard. Well, I think you're very wise to

stall with the ambition rather than to stall with the number, because the number is going to be

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