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Alternatively-common sense says the world needs a floor to taxes so that capitalistic corporations dont simply race us all to the bottom in a prisoners dilemma type of result.
Corporations are the ones who create real goods and services!
If your biden derangement syndrome can stop we might be able to talk about the topic instead of Biden....
Biden thinking other countries are going to go along with him shows how mentally impaired he is. When he raises taxes the countries with lower taxes will see more jobs and investment. It is in their self-interest to reap the benefits.
That's Yellen calling for 'all industrialized' nations to raise their tax to a minimum. She thinks/says it will ensure competitiveness. But there is not competition if things are basically the same.
And this is no coincidence as Biden's proposed tax increases are being made public/debated/voted on as this is floated.
Would a state be held to what ever minimum tax a deal like this would stipulate?
More one world government crap. The EU goes global
If anything the US should LOWER their rate to be competitive.
The US spends way too much money as it is.
The US needs to look inward and cut the bloat.
Example: We have SEVEN different milk programs in the US. Each one has their own budget and staff.
And the last one....why it's a milk program for those that don't qualify for the other 6 milk programs !!!!
If everyone can get milk (as noted by the last milk program) then we only need ONE stinking milk program folks.
That is the very definition of government bloat.
We do NOT need to fund gender studies in third world nations. They need food and jobs and education.
Alternatively-common sense says the world needs a floor to taxes so that capitalistic corporations dont simply race us all to the bottom in a prisoners dilemma type of result.
It's not corporations setting tax rates; it's countries and their governments.
Ireland has a 12.5% corporate tax rate.
Do you think they will practically double their rate because the US needs more tax money ?
Will that benefit Ireland ?
Biden thinking other countries are going to go along with him shows how mentally impaired he is. When he raises taxes the countries with lower taxes will see more jobs and investment. It is in their self-interest to reap the benefits.
He's barely President of the US and is acting like he should be president of the world. Same can be said for the DNC cartel actually making policy and forming strategy.
He's barely President of the US and is acting like he should be president of the world. Same can be said for the DNC cartel actually making policy and forming strategy.
Yesterday it was Central America and today it's the world.
Is he Pinky or The Brain ?
Biden was always a globalist but I think the idea has gone to his head.
So every country should raise taxes to protect the US ?
I very much doubt that Ireland will go from 12.5% corporate tax rate to 28% (US proposed corporate tax rate) or that Barbados will go from 5% to 28% to save the US.
Ireland is basically a store front for money laundering, these companies just claim headquarters there for tax avoidance. 60 minutes did a story back in 2011 where they went to Zug, Switzerland where 30,000 companies claim headquarters. Many of their so called headquarters just mailboxes or empty office space so they can use the 17% tax rate.
These companies should have a substantial presence in these countries to be able to declare their location rather than exploiting tax provisions. Very unfair to medium and small businesses and an uneven playing field. This should have been addressed in the so called 2017 Tax Reform Act.
Corporations that use this in legitimate countries for leverage are racing to the bottom.
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