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Just look at all the centralized control the Biden Potato Administration is trying to exert at home and upon the world. I doubt he will get China and Russia to go along with it though. So I'm not worried much at this point in time.
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.
Just look at all the centralized control the Biden Potato Administration is trying to exert at home and upon the world. I doubt he will get China and Russia to go along with it though. So I'm not worried much at this point in time.
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.
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.
That's not a common sense analysis of what's being proposed. Biden is demented and his mind is stuck in the 1980's, when the USA had more influence and respect around the world. Other nations actually envied America and wanted to become like it. But the addition of tranny bathrooms, restrictions on freedom, pointless wars without end, rotting/decaying cities, censorship and decaying morals, much of the world would prefer to go their own way, and who can blame them?
Biden is a national embarrassment, and most of the world does not respect him. They would laugh at him if he tried to tell them how to run their nations, and rightfully so. The USA needs to get it's crap back together before our leaders can go around and tell other people how to live, run their countries, etc. It's appalling to think that anyone representing our nation has the gall to go to other places and tell them what their tax rates should be. What an embarrassment this administration is, and an insult to thinking people around the globe.
That's not a common sense analysis of what's being proposed. Biden is demented and his mind is stuck in the 1980's, when the USA had more influence and respect around the world. Other nations actually envied America and wanted to become like it. But the addition of tranny bathrooms, restrictions on freedom, pointless wars without end, rotting/decaying cities and decaying morals, much of the world would prefer to go their own way, and who can blame them?
Biden is a national embarrassment, and most of the world does not respect them. They would laugh at him if he tried to tell them how to run their nations, and rightfully so. The USA needs to get it's crap back together before our leaders can go around and tell other people how to live, run their countries, etc.
If your biden derangement syndrome can stop we might be able to talk about the topic instead of Biden....
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.
Well it looks like we're going to raise the rates and try to convince the G20 to do the same with their rates.
This is coming across as the FedGov getting desperate to increase their revenue stream from taxes.
https://www.rev.com/blog/transcripts...script-april-5
Janet Yellen: (21:21)
President Biden’s proposals, announced last week, call for bold domestic action, including to raise the US minimum tax rate, and renewed international engagement, recognizing that it’s important to work with other countries to end the pressures of tax competition and corporate tax-base erosion.
Janet Yellen: (21:46)
We’re working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom. Together, we can use a global minimum tax to make sure that the global economy thrives based on a more leveled playing field in the taxation of multinational corporations, and spurs innovation, growth and prosperity.
And this..Biden wants to punish countries that don't sign up.
https://www.reuters.com/article/us-g...-idUSKBN2BU0E7
The Biden administration wants to raise the U.S. corporate tax rate to 28%, so it has proposed a global minimum of 21% - double the rate on the current GILTI tax. It also wants the minimum to apply to U.S. companies no matter where the taxable income is earned.
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
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