Holding other policies fixed, the average European would be better off if every European country taxed corporate profits at a rate of 20% (based as closely as possible on a common definition of profits).
If other policies were held fixed and every European country taxed corporate profits at a common rate of 20%, then reducing that common rate substantially below 20% would make the average European better off.
The concept of “maximum sustainable employment” is well defined enough to be used beneficially in economic policymaking.
Right now the US economy is operating below maximum sustainable employment.
