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G7 backs Biden's sweeping overhaul of global tax system
cnn ^ | Sat June 5, 2021 | Tara John and Kevin Liptak,

Posted on 06/05/2021 8:12:53 AM PDT by BenLurkin

Biden's plan to pay for at least $1.4 billion [Trillion?] in new infrastructure spending hinges in large part on garnering backing for a global minimum tax on corporations that increases payments to the Treasury. Establishing a minimum rate could help discourage companies from shifting their profits to countries where they would pay less tax.

Saturday's agreement could help accelerate parallel tax negotiations among roughly 140 countries that are being led by the Organization for Economic Cooperation and Development.

Ireland, which has successfully recruited global companies -- including big US tech firms -- by offering a corporate tax rate of just 12.5%, is one country that has expressed significant reservations over the Biden proposal.

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


TOPICS: Business/Economy
KEYWORDS: europeanunion; g7; globaltax; nato; unitedkingdom
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To: babble-on

I’m sure they’ll figure it out. Most likely with Uncle Sugar and the EU subsidizing the rest of the world.


21 posted on 06/05/2021 9:13:25 AM PDT by lodi90
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To: mewzilla

I hope he has a press conference and answers all questions from reporters, because this is a big F’n deal!


22 posted on 06/05/2021 9:32:01 AM PDT by sanjuanbob (Do NOT buy Chinese Products)
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To: BenLurkin

Follow the money trail they all win.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$


23 posted on 06/05/2021 9:35:10 AM PDT by Vaduz (women and children to be impacIQ of chimpsted the most.)
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To: PIF

One of the reasons why Elon Musk is working 100 hours per week to get to Mars, and why Bernie Sanders wants him to stop playing around with rockets and pay more taxes.


24 posted on 06/05/2021 9:52:06 AM PDT by jmcenanly ("The more corrupt the state, the more laws." Tacitus, Publius Cornelius)
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To: BenLurkin

Getting ever closer to a one world government.

They’ll make sure you can never vote with your feet ever again.


25 posted on 06/05/2021 9:54:40 AM PDT by aquila48 (Do not let them make you care! Guilting you is how they control you. )
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To: escapefromboston

“The fact that they support it is meaningless.”

No it’s not. There are many smaller countries not in the G7 that have lower taxes. The plan is to make them comply by punishing them (by the G7) if they don’t.

Truly disgusting stuff.


26 posted on 06/05/2021 9:59:37 AM PDT by aquila48 (Do not let them make you care! Guilting you is how they control you. )
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To: BenLurkin

They ain’t afraid of showing their true colors.

‘They’ want it ALL!!!

It’s always worked so well in the past.

Pee on the mobs enough and eventually they’ll think its just another rainy day.


27 posted on 06/05/2021 10:02:58 AM PDT by NormsRevenge (Semper Fi - Monthly Donors Rock!!! In CONgre$$ WE're Disgusted!!)
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To: BenLurkin

28 posted on 06/05/2021 12:04:26 PM PDT by 4Liberty (Honest GOP can't use legal means because Dems use illegal ones (threats). The Robert Creamer Party! )
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