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The European Union can't keep up with the pace of innovation, growth, and success of American technology companies. This was true in the past but became undoubtedly apparent during the COVID-19 pandemic.

European nations and many other countries around the world have unilaterally departed from over 100 years of accepted tax principles and imposed discriminatory digital taxes on U.S. companies based on global revenue. These new taxes pose unprecedented dangers to tax competition, innovation, and American and European economic growth and will lead to a dramatic and irreversible shift for the international tax system.

America is the most innovative country in the world because American workers hustle to innovate and create new products and services. Competition is the key element to always strive for excellence and no government should be able to pick winners and losers. Unfortunately, at least one bureaucracy in Australia does not like the competition.

The European Union and its member states are not able to keep up with the pace of innovation and growth of American companies. And now they are resorting to Chinese tactics to undermine U.S. innovation.

Often it is difficult to describe the outcome of an election with one word. This time it's different. Voters were fed up with an arrogant, bloated superstate bureaucracy. They voted to get their sovereignty back.