The Economist.
Hello, and welcome to The Intelligence from The Economist.
I'm Rosie Blau.
Today on the show, a surprisingly cheap way to cool buildings.
And remembering French reservist Stanislas Hutin
and the horrors he witnessed in Algeria.
But first,
Money is flying around the AI economy.
In the past year, corporate earnings in America
have grown by $1.2 trillion, a 30% rise.
Where there's money to be made, usually there are taxes to be paid.
Yet, Uncle Sam is seeing little of that benefit.
There is a big question in economic circles right now about how to tax AI.
AI is growing very quickly, as everyone knows.
But the emerging evidence so far is that taxes are not following.
Callum Williams is our senior economics writer.
So there's something strange happening at the moment with American corporate taxes.
Even as corporate profits are rising very quickly,
corporate taxes in the US are falling very fast.
Now, this is basically because of various provisions over recent years,