Commentary If you aren’t already cynical about politics, an examination of the politics underlying the tentative agreement of 130 national governments to harmonize their laws about how much to tax the profits of multinational enterprises (MNEs) provides plenty of reasons to be cynical. First is the hypocrisy that, at a time when the Biden administration is accusing the largest American corporations of being too insulated from competition, Treasury Secretary Janet Yellen is colluding with foreign officials to severely limit competition between governments. Numerous federal employees (paid by our taxes) are collaborating with bureaucrats of the Organization for Economic Cooperation and Development (a multilateral agency whose major funding comes from our tax dollars) to find ways to raise American taxes. “Your tax dollars at work,” as the rueful saying goes. The fact is that just as businesses compete for consumers by (among other things) lowering prices, so governments have competed to …