GET https://rct.dev.bbntimes.com/global-economy/the-g-7-s-reckless-commitment-to-mounting-debt

Response
200 OK
IP
18.191.212.245
Profiled on
Token
e309d8

ArticleController :: show

Request

GET Parameters

None

POST Parameters

None

Uploaded Files

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"global-economy"
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"the-g-7-s-reckless-commitment-to-mounting-debt"

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"*/*"
accept-encoding 
"gzip, br, zstd, deflate"
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"close"
cookie 
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x-php-ob-level 
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Request Content

Request content not available (it was retrieved as a resource).

Response

Response Headers

Header Value
cache-control 
"no-cache, private"
content-type 
"text/html; charset=UTF-8"
date 
"Sat, 22 Feb 2025 08:36:20 GMT"
link 
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Cookies

Request Cookies

Key Value
PHPSESSID 
"qlq44i7upmbidls7p8e13j1llg"

Response Cookies

No response cookies

Session 6

Session Metadata

Key Value
Created 
"Sat, 22 Feb 25 08:35:33 +0000"
Last used 
"Sat, 22 Feb 25 08:36:18 +0000"
Lifetime 
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Session Attributes

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Stateless check enabled
Usage
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Symfony\Component\Security\Csrf\TokenStorage\SessionTokenStorage:79
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    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpKernel.php"
    "line" => 181
    "function" => "show"
    "class" => "App\Controller\ArticleController"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpKernel.php"
    "line" => 76
    "function" => "handleRaw"
    "class" => "Symfony\Component\HttpKernel\HttpKernel"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/Kernel.php"
    "line" => 197
    "function" => "handle"
    "class" => "Symfony\Component\HttpKernel\HttpKernel"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/runtime/Runner/Symfony/HttpKernelRunner.php"
    "line" => 35
    "function" => "handle"
    "class" => "Symfony\Component\HttpKernel\Kernel"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
    "line" => 29
    "function" => "run"
    "class" => "Symfony\Component\Runtime\Runner\Symfony\HttpKernelRunner"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/public/index.php"
    "line" => 5
    "args" => [
      "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
    ]
    "function" => "require_once"
  ]
]
Symfony\Component\Security\Core\Authentication\Token\Storage\UsageTrackingTokenStorage:41
Show trace 
[
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/security-core/Authentication/Token/Storage/UsageTrackingTokenStorage.php"
    "line" => 41
    "function" => "getMetadataBag"
    "class" => "Symfony\Component\HttpFoundation\Session\Session"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/twig-bridge/AppVariable.php"
    "line" => 103
    "function" => "getToken"
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    "function" => "twig_get_attribute"
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    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpCache/SubRequestHandler.php"
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    "function" => "handle"
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    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/Fragment/InlineFragmentRenderer.php"
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    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/twig/twig/src/TemplateWrapper.php"
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    "function" => "render"
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    "line" => 453
    "function" => "doRenderView"
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    "function" => "doRender"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/src/Controller/ArticleController.php"
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    "function" => "render"
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    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpKernel.php"
    "line" => 181
    "function" => "show"
    "class" => "App\Controller\ArticleController"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpKernel.php"
    "line" => 76
    "function" => "handleRaw"
    "class" => "Symfony\Component\HttpKernel\HttpKernel"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/Kernel.php"
    "line" => 197
    "function" => "handle"
    "class" => "Symfony\Component\HttpKernel\HttpKernel"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/runtime/Runner/Symfony/HttpKernelRunner.php"
    "line" => 35
    "function" => "handle"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
    "line" => 29
    "function" => "run"
    "class" => "Symfony\Component\Runtime\Runner\Symfony\HttpKernelRunner"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/public/index.php"
    "line" => 5
    "args" => [
      "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
    ]
    "function" => "require_once"
  ]
]
Symfony\Component\Security\Http\Firewall\ContextListener:171
Show trace 
[
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/security-http/Firewall/ContextListener.php"
    "line" => 171
    "function" => "remove"
    "class" => "Symfony\Component\HttpFoundation\Session\Session"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/event-dispatcher/Debug/WrappedListener.php"
    "line" => 116
    "function" => "onKernelResponse"
    "class" => "Symfony\Component\Security\Http\Firewall\ContextListener"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/event-dispatcher/EventDispatcher.php"
    "line" => 220
    "function" => "__invoke"
    "class" => "Symfony\Component\EventDispatcher\Debug\WrappedListener"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/event-dispatcher/EventDispatcher.php"
    "line" => 56
    "function" => "callListeners"
    "class" => "Symfony\Component\EventDispatcher\EventDispatcher"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/event-dispatcher/Debug/TraceableEventDispatcher.php"
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    "function" => "dispatch"
    "class" => "Symfony\Component\EventDispatcher\EventDispatcher"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpKernel.php"
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    "function" => "dispatch"
    "class" => "Symfony\Component\EventDispatcher\Debug\TraceableEventDispatcher"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpKernel.php"
    "line" => 202
    "function" => "filterResponse"
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    "type" => "->"
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    "function" => "handleRaw"
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]

Flashes

Flashes

No flash messages were created.

Server Parameters

Server Parameters

Defined in .env

Key Value
APP_ENV 
"dev"
APP_SECRET 
"0a988e63f011514eaabfc650b599af4d"
CORS_ALLOW_ORIGIN 
"*"
DATABASE_URL 
"mysql://bbndb_rctuser:33F5W25z40or0f7@localhost:3306/rct_bbntimes"
GOOGLE_RECAPTCHA_SECRET_KEY 
"6LdV5fgpAAAAANxzTG8ZMfIjil1wu-1vrQvnUt-x"
GOOGLE_RECAPTCHA_SITE_KEY 
"6LdV5fgpAAAAAENKcn73MJAhQrbtQeqgyC4wDLMP"
MAILER_DSN 
"smtp://no-reply%40rct.dev.bbntimes.com:Bl6%26gLD48%26Of919@rct.dev.bbntimes.com:465"
MARIADB_PASSWORD 
"i!87pK&!85ezc8"

Defined as regular env variables

Key Value
APP_DEBUG 
"1"
BASE 
"/public"
CONTEXT_DOCUMENT_ROOT 
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com"
CONTEXT_PREFIX 
""
DOCUMENT_ROOT 
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com"
FCGI_ROLE 
"RESPONDER"
GATEWAY_INTERFACE 
"CGI/1.1"
HTTPS 
"on"
HTTP_ACCEPT 
"*/*"
HTTP_ACCEPT_ENCODING 
"gzip, br, zstd, deflate"
HTTP_CONNECTION 
"close"
HTTP_COOKIE 
"PHPSESSID=qlq44i7upmbidls7p8e13j1llg"
HTTP_HOST 
"rct.dev.bbntimes.com"
HTTP_USER_AGENT 
"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)"
PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY 
"0"
PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY 
"0"
PATH 
"/usr/local/sbin:/usr/local/bin:/usr/sbin:/usr/bin:/sbin:/bin:/snap/bin"
PHP_SELF 
"/public/index.php"
PP_CUSTOM_PHP_CGI_INDEX 
"plesk-php81-fastcgi"
PP_CUSTOM_PHP_INI 
"/var/www/vhosts/system/rct.dev.bbntimes.com/etc/php.ini"
QUERY_STRING 
""
REDIRECT_BASE 
"/public"
REDIRECT_HTTPS 
"on"
REDIRECT_PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_REDIRECT_HTTPS 
"on"
REDIRECT_REDIRECT_PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_REDIRECT_PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_REDIRECT_SCRIPT_URI 
"https://rct.dev.bbntimes.com/global-economy/the-g-7-s-reckless-commitment-to-mounting-debt"
REDIRECT_REDIRECT_SCRIPT_URL 
"/global-economy/the-g-7-s-reckless-commitment-to-mounting-debt"
REDIRECT_REDIRECT_SSL_TLS_SNI 
"rct.dev.bbntimes.com"
REDIRECT_REDIRECT_STATUS 
"200"
REDIRECT_REDIRECT_UNIQUE_ID 
"Z7mMhLiBoyj8JZ8-HGxt0QAAABU"
REDIRECT_SCRIPT_URI 
"https://rct.dev.bbntimes.com/global-economy/the-g-7-s-reckless-commitment-to-mounting-debt"
REDIRECT_SCRIPT_URL 
"/global-economy/the-g-7-s-reckless-commitment-to-mounting-debt"
REDIRECT_SSL_TLS_SNI 
"rct.dev.bbntimes.com"
REDIRECT_STATUS 
"200"
REDIRECT_UNIQUE_ID 
"Z7mMhLiBoyj8JZ8-HGxt0QAAABU"
REDIRECT_URL 
"/public/global-economy/the-g-7-s-reckless-commitment-to-mounting-debt"
REMOTE_ADDR 
"18.191.212.245"
REMOTE_PORT 
"27563"
REQUEST_METHOD 
"GET"
REQUEST_SCHEME 
"https"
REQUEST_TIME 
1740213380
REQUEST_TIME_FLOAT 
1740213380.1563
REQUEST_URI 
"/global-economy/the-g-7-s-reckless-commitment-to-mounting-debt"
SCRIPT_FILENAME 
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/public/index.php"
SCRIPT_NAME 
"/public/index.php"
SCRIPT_URI 
"https://rct.dev.bbntimes.com/global-economy/the-g-7-s-reckless-commitment-to-mounting-debt"
SCRIPT_URL 
"/global-economy/the-g-7-s-reckless-commitment-to-mounting-debt"
SERVER_ADDR 
"5.196.1.209"
SERVER_ADMIN 
"[no address given]"
SERVER_NAME 
"rct.dev.bbntimes.com"
SERVER_PORT 
"443"
SERVER_PROTOCOL 
"HTTP/1.1"
SERVER_SIGNATURE 
"<address>Apache Server at rct.dev.bbntimes.com Port 443</address>\n"
SERVER_SOFTWARE 
"Apache"
SSL_TLS_SNI 
"rct.dev.bbntimes.com"
SYMFONY_DOTENV_VARS 
"APP_ENV,APP_SECRET,DATABASE_URL,MARIADB_PASSWORD,CORS_ALLOW_ORIGIN,MAILER_DSN,GOOGLE_RECAPTCHA_SECRET_KEY,GOOGLE_RECAPTCHA_SITE_KEY"
UNIQUE_ID 
"Z7mMhLiBoyj8JZ8-HGxt0QAAABU"

Sub Requests 6

CookieController :: renderAnalysis (token = d5835d)

Key Value
_controller 
"App\Controller\CookieController::renderAnalysis"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"720d4d"

AppController :: renderHeader (token = d290a2)

Key Value
_controller 
"App\Controller\AppController::renderHeader"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"e80f08"
slug 
"home"

ArticleController :: trendingArticle (token = 5b05e1)

Key Value
_controller 
"App\Controller\ArticleController::trendingArticle"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"91d554"
category 
"Global Economy"

ArticleController :: relatedArticles (token = 8e6948)

Key Value
_controller 
"App\Controller\ArticleController::relatedArticles"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"7389ca"
current_article 
App\Entity\Article {#1094
  -id: 8817
  -title: "The G-7’s Reckless Commitment To Mounting Debt"
  -slug: "the-g-7-s-reckless-commitment-to-mounting-debt"
  -introtext: "<p><span style="color: #000000;">Historically, meetings of the largest economies in the world have been essential to reach essential agreements that would incentivise prosperity and growth. </span></p>\r\n"
  -content: """
    \r\n
    <p><span style="color: #000000;">This was not the case this time. The&nbsp;G7 meeting agreements were light on detailed economic decisions, except on the most damaging of them all. A minimum global corporate tax. Why not an agreement on a maximum global public spending?</span></p>\r\n
    <p><a href="https://www.youtube.com/watch?v=1Di0fwtXXeQ" target="_blank" rel="noopener"><img src="/images/Stagflation.png" alt="Stagflation.png" width="600" height="335" /></a></p>\r\n
    <p><span style="color: #000000;"><br />Imposing a minimum global corporate tax of 15% without addressing all other taxes that governments impose before a business reaches a net profit is dangerous. Why would there be a minimum global corporate tax when subsidies are different, some countries have different or no VAT rates (value added tax), and the endless list of indirect taxes is completely different? &nbsp;The G7 “commit to reaching an equitable solution on the allocation of taxing rights, with market countries awarded taxing rights on at least 20% of profit exceeding a 10% margin for the largest and most profitable multinational enterprises”. This entire sentence makes no sense, opens the door to double taxation and penalizes the most competitive and profitable companies while it has no impact on the dinosaur loss-making or poor-margin conglomerates that most governments call “strategic sectors”.</span></p>\r\n
    <p><span style="color: #000000;">The global minimum corporate tax is also a protectionist and extractive measure. The rich nations will see little negative impact from this, as they already have their governments surrounded by large multinationals that will not suffer a massive taxation blow because subsidies and tax incentives before net income are large and generous. According to <a href="https://www.pwc.com/gx/en/paying-taxes/pdf/pwc-paying-taxes-2020.pdf" target="_blank" rel="noopener">PWC’s Paying Taxes 2020</a>, profit taxes in North America already stand at 18.5% but, more worryingly, total tax contributions including labour and other taxes reach 40% of revenues. In the EU &amp; EFTA profit taxes may be somewhat smaller than in North America, but total taxation remains above 39% of revenues.</span></p>\r\n
    <p><span style="color: #000000;">Some <a href="society/are-you-cut-out-for-a-job-in-politics" target="_blank" rel="noopener">politicians</a> mention corporate technology giants as the ones that pay no taxes and use an effective tax rate where they put together loss-making companies with those making a profit thus reaching an artificially low effective tax rate. Technology giants will not pay more under this new agreement, because their taxable base will not change, their profit and loss account will remain similar and, more importantly, the deductions on large investments, which are the cause of their apparently small tax payments, will not change either.</span></p>\r\n
    <p><a href="https://www.youtube.com/watch?v=qDSUtnr22kU" target="_blank" rel="noopener"><img src="/images/Stimulus_Plan.png" alt="Stimulus_Plan.png" width="601" height="337" /></a></p>\r\n
    <p><span style="color: #000000;">The global minimum tax rate will not hurt G7 members or large technology giants, but it will devastate small and dynamic countries that need to attract capital and investment and who cannot afford to have the tax rate of global leading nations. Losing capital and investment will cripple their economy and the alleged “tax revenue benefit” of raising the minimum corporate tax will disappear. Not only small and dynamic nations will suffer from this measure, but small and dynamic corporations, because they will have less reserves to invest and grow in the future the moment they generate a profit, making them weaker. Therefore, it is a protectionist and extractive measure that benefits the ones who are already rich nations and large multinationals but disproportionately harms the small and rising nations and businesses.</span></p>\r\n
    <p><span style="color: #000000;">The OECD itself has warned that corporate taxes are the most harmful for <a href="https://taxfoundation.org/oecd-finds-corporate-taxes-most-harmful-economic-growth" target="_blank" rel="noopener">growth</a>. The evidence from the OECD study shows that “investment is adversely affected by corporate taxation through the user cost of capital”. <a href="https://www.oecd.org/tax/tax-policy/41000592.pdf" target="_blank" rel="noopener">The OECD study</a> also warns that corporate tax rates have a negative effect on firms that are in the “process of catching up with the productivity performance of the best practice firms” and concludes that “lowering statutory corporate tax rates can lead to particularly large productivity gains in firms that are dynamic and profitable, i.e. those that can make the largest contribution to GDP growth.”</span></p>\r\n
    <p><span style="color: #000000;">Rising corporate taxes will not reduce the debt burden. The reality of the budgets and financial position of most G7 and G20 countries shows that deficits continue to be elevated even in growth periods and after periods of tax increases because government spending rises above all revenue increases.</span></p>\r\n
    <p><span style="color: #000000;">Rising corporate taxes will not improve growth, jobs, or productivity as shown by the above-mentioned examples but also by our recent history, specifically in the European Union, nor generate a substantial improvement in tax revenue that, in any case, will not even scratch the surface of the existing debt.</span></p>\r\n
    <p><span style="color: #000000;">The troubling part of the G-7 commitments is that on one hand they reach a unanimous agreement to increase taxes on the productive sectors while on the other hand they reach another unanimous agreement to continue spending even in the recovery “to create high-quality jobs”. How are they going to create high-quality jobs if they tax the high productivity sectors and subsidize the low-productivity ones? The G-7 does not seem to address rising structural imbalances, the excessive weight of government spending or the lack of success of large entitlement programs.</span></p>\r\n
    <p><span style="color: #000000;">An extremely dangerous idea is becoming mainstream: That all public spending is good and when stimulus plans fail to deliver all you have to do is spend more. All we hear is: 1) It was not enough, 2) This time will be different, 3) Repeat.</span></p>\r\n
    <p><span style="color: #000000;">The G-7 concludes. “Once the recovery is firmly established, we need to ensure the long-term sustainability of public finances to enable us to respond to future crises and address longer-term structural challenges, including for the benefit of future generations”. Nice words. What is the problem? It never happens. As we saw in the past growth period, governments spend more when the economy grows and even more when it is in recession. The path to public finance sustainability cannot come from constantly raising direct and indirect taxes on the productive sectors and always increase mandatory spending.</span></p>\r\n
    <p><span style="color: #000000;">It is sad, but the G-7 commitments look like the recipe for a very deep crisis in the not-too-distant future.</span></p>\r\n
    <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"></figure>
    """
  -user: Proxies\__CG__\App\Entity\User {#1092 …}
  -createdAt: DateTime @1623685698 {#1145
    date: 2021-06-14 15:48:18.0 UTC (+00:00)
  }
  -updatedAt: DateTime @1623686344 {#1150
    date: 2021-06-14 15:59:04.0 UTC (+00:00)
  }
  -deletedAt: null
  -category: App\Entity\Category {#445 …}
  -status: "published"
  -imageCard: Proxies\__CG__\App\Entity\File {#1184 …}
  -ImageHeader: Proxies\__CG__\App\Entity\File {#1184 …}
  -featured: false
  -mainView: false
  -clicks: 2848
  -comments: Doctrine\ORM\PersistentCollection {#1125 …}
  -reviewed_at: DateTime @1623685698 {#1148
    date: 2021-06-14 15:48:18.0 UTC (+00:00)
  }
  -metakey: "The G-7’s Reckless Commitment To Mounting Debt"
  -metadesc: "Historically, meetings of the largest economies in the world have been essential to reach essential agreements that would incentivise prosperity and growth."
  -robots: null
  -publishedAt: DateTime @1623685698 {#1147
    date: 2021-06-14 15:48:18.0 UTC (+00:00)
  }
  -canonical: null
  -superTag: null
}

AppController :: renderFooter (token = eaf445)

Key Value
_controller 
"App\Controller\AppController::renderFooter"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"6ca4d0"

CookieController :: renderCookie (token = 8482f8)

Key Value
_controller 
"App\Controller\CookieController::renderCookie"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"ae33ef"