He ignores tax incidence.
It\’s not the companies paying the tax. It\’s some combination of the shareholders and the workers. And the smaller and more open the economy, the more it is the workers.
So who will really be hit by this? Quite, the workers in the smaller and more open economies. Those in the developing countries that is.
Well done Mr. Murphy. You are campaigning to reduce the wages of the poor. I congratulate you. Just see what can be achieved by an ignorance of economics!