I guess controlling our taxes isn’t enough. Control freaks gotta get their freak on.
Let’s tell every other country how they should run their countries? These people just love all that ■■■■■■■ power. I can predict what China’s response will be to Yellen and Biden.
Team America: World Tax Enforcers
Yea…because we don’t have a history of doing that already …
Voted for Trump, but really, Joe Biden didn’t hide this intention before the election.
Am definitely not predicting any new hires any time soon, maybe even quite a few dismissals.
I would say laughter or telling biden to pound sand. Maybe both.
We may wind up in a depression unless we can flip one or both house in midterm.
These clowns need someone to offset their socialistic disaster proposals.
Proposing that the US leads a multi National effort to come an agreement on corporate tax rates so as to not have a continual race to the bottom is … what is it again?
We’ve been telling the rest of the world what to do for some time now.
And you’re now getting upset at this?
A global minimum tax is not a tax that every country implements. US headquartered corporations already pay a “global minimum tax” of 13% of their global income. Before the Trump Administration, they paid 35%. GMT is to corporations what Alternative Minimum Tax is to people. The idea is to prevent US corporations from having shells in the US with a great percentage of income in other countries. US citizens already pay income tax on income earned in other countries, even if they actually live and work abroad. The issue is not a “new tax” - it is a raise in the tax to the rate that the corporations paid before the Trump years.
It’s not not a bad idea, just a naïve one. I can hear the laughter all the way from Beijing today.
I don’t think that China was being talked about in this proposal. It looks to me like it would speak to the Western coalition to start to limit tax havens and then hopefully start cracking down on the super sketchy tax shelters.
Here he is, pre election.
Not a supporter of his by a long shot, but the issue raised in the O P isn’t something he hid.
How has it worked out with China?
“We are working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom,” she said.
China is part of the G20, so I would think that they are part of these talks.
This is how the global war on tax havens begins.
It is an interesting dilema how global corporations move and dodge taxation.
This isn’t the right approach. Tariffs are better.
Yeah sure… but I think that the major concern is a corporation “relocating” to a place like Ireland for tax advantage.
I don’t see any corporation “relocating” to China.
Not to dismiss the about of hand, but why do you feel that tariffs are a better approach than international cooperation?
Same theory as sales tax. Tough to dodge.
I get that, but how would it curb a company like Apple artificially moving it’s revenue around to different nations to get higher tax advantages?