To piggyback on comments made by Professor Deneault, I'll say that I think trust is deeply undermined. I think the general public in Canada is widely aware that some of the largest multinationals—Brookfield included and a lot of U.S. multinationals—pay such low tax rates when workers, who get paycheque and payroll deduction of their taxes, pay full freight and expect more for their dollar from public services.
It completely undermines trust in the system if you have small business operators who can't afford to hire “Big Four” accounting firms, who can't afford to hire a team of tax lawyers, who can't set up Swiss bank accounts and tax haven subsidiaries. They're paying the bills for the big corporations that are using those same services, and it completely undermines trust in the tax system and in public institutions overall.
I think this is the reason that you have people like Donald Trump and Bolsonaro; it's that people have been impacted negatively by globalization. They can see that the richest and most powerful in the world are benefiting from this system that they designed, that they continue to influence and that they continue to write the rules on.
I completely agree with Mr. Deneault in terms of a unitary taxation, where you're looking at a company as a whole and are taxing it as a whole entity. That does happen in 27 U.S. states. There's an opportunity to close a loophole in those states so that they're not able to shift income offshore. There's a model that exists. This was part of the OECD pillar one proposal, a small part of it. It's been legitimized as a practice, and it really needs to carry forward. I think—