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US tax reform breaks global rules, EU says
DW (Deutsche Welle) ^ | 19.12.2017 | Nils Zimmermann

Posted on 12/21/2017 10:56:56 AM PST by ding_dong_daddy_from_dumas

Last week, the finance ministers of Europe's five biggest economies — Germany, France, the UK, Spain and Italy — wrote an anxious letter to their American colleague, US Treasury Secretary Stephen Mnuchin, and copied it to all senior Republican politicians in the Congress and Senate.

The letter's thrust: The draft US tax bill, if passed as written a week ago, would represent a break with global fair-taxation rules as applied to corporations, and represent a thinly disguised form of trade war.

"The United States is Europe's single most important trade and investment partner," the finance ministers wrote. "It is important that the U.S. government's rights over domestic tax policy be exercised in a way that adheres with international obligations to which it has signed-up. The inclusion of certain less conventional international tax provisions could contravene the US's double taxation treaties and may risk having a major distortive impact on international trade."

(Excerpt) Read more at dw.com ...


TOPICS: Business/Economy; Foreign Affairs; Front Page News; Germany; News/Current Events
KEYWORDS: 115th; eu; eunuchs; eurabia; euranus; eurobanking; europeanunion; eussr; fourthreich; globalists; maga; mnuchin; socialism; socialmarketeconomy; taxes; trump; trumptaxcuts; winning
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To: Sir Napsalot

One of the things Obama wanted to do was surrender US sovereignty over trade and tax policy by signing the US up to treaties limiting what the president and government could “legally” do. This is why I didn’t want him the US to sign up to that huge Trans Pacific partnership deal. Anytime the US made a domestic move that some foreign company didn’t like, and that would be every move, the US would get taken to a foreign court and lose. Some of these trade deals are literal suicide pacts. Bush II put a tariff on steal. The US got taken to court and lost. When Bush didn’t immediately remove the tariff, our trading partners were incredibly sophisticated in retaliating against companies in districts and states that Bush desperately needed to win. The hugh and cry was so great Bush gave in. As much as I didn’t like the tariff, which cost me personally, I was embarrassed by the loss of sovereignty.


21 posted on 12/21/2017 11:11:07 AM PST by Gen.Blather
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To: ding_dong_daddy_from_dumas

Democrats in the Congress and Senate voted against this tax bill because they are ignorant, or bought and paid for by foreign corporation lobbyists, or all of the above. Which is it?


22 posted on 12/21/2017 11:11:20 AM PST by DJ Taylor (Once again our country is at war, and once again the Democrats have sided with our enemy.)
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To: ding_dong_daddy_from_dumas

Isn’t this a foreign entity trying to influence votes in the House and Senate? Did they COLLUDE with the Dems to influence these votes?


23 posted on 12/21/2017 11:11:27 AM PST by KJC1 (Illegals: One hand out and the other one flipping us the bird)
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To: ding_dong_daddy_from_dumas

“Global rules?” I’ve got your ‘rule’ right here, EU. Millions of us own and carry a firearm, and you people don’t. How dare you think you can control our tax policy!


24 posted on 12/21/2017 11:11:47 AM PST by backwoods-engineer (The GOP-Democrat-Media Uniparty must be destroyed.)
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To: ding_dong_daddy_from_dumas

Rules?

What rules?

WE don’t need no steenking rules!................


25 posted on 12/21/2017 11:12:20 AM PST by Red Badger (Road Rage lasts 5 minutes. Road Rash lasts 5 months!.....................)
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To: pepsionice

The complaint is about the 20% excise tax, levied on payments made when an American company buys goods or services from a foreign subsidiary or “affiliate” — unless the subsidiary elects to treat the payments as income in the US. They claim “unfair” and “double taxation.”


26 posted on 12/21/2017 11:12:44 AM PST by ding_dong_daddy_from_dumas (Mozart tells you what it's like to be human. Bach tells you what it's like to be the universe)
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To: ding_dong_daddy_from_dumas
Quote from the article:

If the reforms go through, Hentze said, the US will go from being a high-tax to a low-tax country.

I agree with this.

27 posted on 12/21/2017 11:12:46 AM PST by Drango (A liberal's compassion is limited only by the size of someone else's wallet.)
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To: ClearCase_guy

28 posted on 12/21/2017 11:13:24 AM PST by Red Badger (Road Rage lasts 5 minutes. Road Rash lasts 5 months!.....................)
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To: ding_dong_daddy_from_dumas

The Euros are just drumming up an excuse to justify imposing fines, so they can maintain their trade advantage.

They fear the giant sucking sound of jobs heading across the Atlantic, and are scrambling to rig trade back in their favor.


29 posted on 12/21/2017 11:13:40 AM PST by BeauBo
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To: ding_dong_daddy_from_dumas

Damn. It is worse than we thought. But maybe this is an eye-opener for some.

I also wonder if the “high tax states” will start feeling the heat from their taxpayers now.


30 posted on 12/21/2017 11:14:06 AM PST by dhs12345
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To: pepsionice

Good analysis.

Yeah U.S. growth would be 4% in 2018 and probably will be.

The Fed however is political as we’ve seen most institutions are and they are democrat/leftist/socialist. The Fed kept interest rates near zero for all of Obama’s term. and now as soon as Trump wins the Feds starts raising rates and will keep on doing it so they say which is ridiculous because the economy is just barely 3% and just barely starting to get out of the Obama disaster. Look I could see maybe justification for raising rates if growth was 5% for several years AND inflation was a threat but none of that is true now so why raise rates ? To hurt Trump and send the economy into depression


31 posted on 12/21/2017 11:14:31 AM PST by Democrat_media (Mueller doing coup vs Trump. Obama was adding 97,000 pages of government regulations /year)
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To: Ronniesque
We need the picture of Ray Liotta laughing from the movie Goodfellas here ;-)


32 posted on 12/21/2017 11:14:31 AM PST by USS Alaska (Kill all mooselimb, terrorist savages, with extreme prejudice! Deus Vult!)
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To: ding_dong_daddy_from_dumas

FU EU. When the EUweenies get their panties in a twist, the more I bow down to the Donald.


33 posted on 12/21/2017 11:15:35 AM PST by beergarden
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To: ding_dong_daddy_from_dumas

If the kraut was right, then taxes would be the same in every nation. I notice they didn’t have any problem when the USA had the highest rates.


34 posted on 12/21/2017 11:15:55 AM PST by DesertRhino (Dog is man's best friend, and moslems hate dogs. Add that up. ... we.)
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To: KJC1

Correct. Mueller will be right on it.


35 posted on 12/21/2017 11:18:20 AM PST by wgmalabama
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To: cgbg

>>Where do we sign up to join the EU?<<

We joined 1/20/2009 and exited 1/21/2017.


36 posted on 12/21/2017 11:19:00 AM PST by freedumb2003 (Conservatives should do daily affirmations: reading/repeating the 9th and 10th Amendments)
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To: robroys woman

Yet there are many on this site who side with the EU and believe this will be a bad tax deal.


37 posted on 12/21/2017 11:19:50 AM PST by wgmalabama
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To: ding_dong_daddy_from_dumas

Up yours EU!


38 posted on 12/21/2017 11:20:30 AM PST by tennmountainman ("Prophet Mountainman" Predicter Of All Things RINO...for a small fee.)
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To: ding_dong_daddy_from_dumas
This is great .

And Trump wanted a reduction from 35% to 15% but was able to get only down to 21% corporate tax rate in negotiations with the Soros owned congress. But even this is enough to get the U.S. economy growing again as the announcements by Comcast (50 billion investment), AT&T and others are signaling.

Also Trump wanted much lower rates in all brackets and for the businesses and corporations but what he got was what the Ryan House and Mconnel senate were able to give which is still good but could have been much better.

39 posted on 12/21/2017 11:21:09 AM PST by Democrat_media (Mueller doing coup vs Trump. Obama was adding 97,000 pages of government regulations /year)
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To: ding_dong_daddy_from_dumas

Too bad soooo sad

You don’t own US


40 posted on 12/21/2017 11:22:06 AM PST by Nifster (I see puppy dogs in the clouds)
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