Skip to comments.U.S. Treasury Proposes Global Minimum Corporate Tax of At Least 15%
Posted on 05/20/2021 3:02:19 PM PDT by Leaning Right
The U.S. is asking other countries to agree to a 15% global minimum corporate tax, as part of international efforts to dissuade companies from seeking lower taxes outside of their home nations, Bloomberg News reported. “A global corporate minimum tax rate would ensure the global economy thrives based on a more level playing field in the taxation of multinational corporations,” the Treasury Department tweeted.
(Excerpt) Read more at marketwatch.com ...
Notice they don’t advocate for a minimum wage, which would benefit US workers competing with slave labor. Not that Minimum wages are a great idea or that it could really be enforced.
> Notice they don’t advocate for a minimum wage, which would benefit US workers competing with slave labor. <
If the USA wants a corporate tax rate of 15%, then the USA should legislate a corporate tax rate for the USA to be 15%.
Phew! I first misread this thinking they want a global corporate tax of 15% to be paid on top of all the other taxes corporations pay.
Maybe that’s next.
They’ll make us pay more.
Unconstitutional. Needs to be treaty based and no way in Hell 67 Senators will vote for this.
And China will collect the 15% tax to help pay for the 25% corporate subsidy.
And why would any country possibly go along with this idiotic proposal?
Well if that is what you want to do, put it into a treaty and get it ratified by the Senate. That way the voters can express their pleasure via their Senator and remove them from office.
“If the USA wants a corporate tax rate of 15%, then the USA should legislate a corporate tax rate for the USA to be 15%.”
Add a 15% tariff on all imports so companies outside the USA don’t get a free ride and domestically manufactured product are more competitive.
Before I get slammed by the free traders who have witnessed the 30 year experiment that decimated our US manufacturing infrastructure and middle class, I suggest considering the following facts:
1) In 1865 Great Britain was the world economic and military power. Its economic power had been achieved with mercantilist protectionist trade policies. The United States was an economic basket case after 4 years of Civil War. In 1900 the United States was the most innovative nation technologically and the largest economic power in the world. It exported its manufactured goods globally and traded with all nations. During the 35 years it progressed from a backward agrarian nation decimate by war to the word’s industrial power, it had the highest tariff rates in its history. Tarriffs and duties on imported goods funded the federal government, there were no income taxes.
2) China’s rise as an global economic power has been due to its unfettered access to the US and European markets as the developed nations dropped tariffs and duties (i.e. free trade) while it subsidized exports and investment, restricted foreign access to its domestic market, and engaged in open stealing of intellectual capital.
The “free trade” policies of the two Bush presidents, Clinton, and Obama have been a disaster for the United States and the return to those policies under Biden, along with open borders, and unprecedented devaluation of the currency means third world status for the citizens of this country within a decade.
You won’t see me slamming that!!! Tariffs are patriot candy!!!
Corporations do NOT “pay taxes”. Corporate taxes simply make the corporation a TAX COLLECTOR. They collect the tax within the price of their service or product, and turn that over to the government.
This stupid proposal is like a shop owner who is being undercut by his competitors. Instead of finding ways to decrease his prices or otherwise make his products more attractive, he instead demands that a law be passed to force his competitors to raise their prices.
Traitor Joe’s Treasury pushing another tax hike ordinary people will pay for.
How many companies have already fled the country since the Harris-Biden socialist administration took office?
Apparently US corps are all on board with the woke agenda.
No mention that during the Obama-Biden administration had the highest corporate taxes rates in the world, forcing many American companies to flee or go out of business because they were not competitive with foreign companies.
The enemy is within.
I am convinced that Civil War is the only way out.
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