Sunday, November 9, 2014
Everything becomes an acronym
I heard, via C-Span radio, part of a briefing session for reporters (conducted by academic or think-tank types) on the Pres.'s upcoming trip for the APEC (Asia-Pacific Economic Cooperation) meeting and the G-20 meeting. One of the speakers, in discussing the G-20 economic agenda, referred to "[tax] base erosion and profit shifting," or as he put it: "'BEPS' in the terminology." With a trillion dollars flowing out of developing countries (broadly defined) each year as a result of tax evasion and other illegal practices, and with corporations always searching for ways to escape paying taxes, BEPS is a serious problem for governments. But I guess everything has to become an acronym, irrespective of its seriousness (or lack thereof).