Posted on 06/11/2021 6:28:05 AM PDT by Oldeconomybuyer
President Joe Biden and other world leaders are expected to focus on the global response to the coronavirus pandemic Friday, the first day of the G-7 meeting in Cornwall, England, while making the case for democratic institutions' unique ability to respond to economic crises and disparities, senior administration officials said.
The Group of Seven, an organization of the world's leading industrial countries — Britain, Canada, France, Germany, Italy, Japan and the U.S. — will also endorse a global minimum tax of at least 15 percent for companies, the White House said.
If one is enacted, an established global tax rate — which companies would have to pay regardless of where they are based — could reverse what the White House called a "race to the bottom" on international rates that has been a source of tension among countries for years.
"This U.S. priority is a critical step towards ending the decades-long race to the bottom that pushes nations to compete over who can offer the lowest tax rate to large corporations at the expense of protecting workers, investing in infrastructure, and growing the middle class," the White House said in a fact sheet shared with reporters.
(Excerpt) Read more at nbcnews.com ...
We all.know who gets to pay the Lions share of any Global tax. Any politican even thinking about it needs to be removed.
Spot on.
It’s funny that they argue for a “global minimum tax” because lack of tax revenue has never stopped our government from spending WAY beyond its tax take.
This is all about punishing capitalism and has nothing to do with filling government coffers. In other words, global communism.
Not paying a “global tax”.
The EU VAT tax never fixed their problems and can be increased anytime.
The 7 leaders(LOL) that will totally destroy the Planet
Value Added Tax. What a con job. A private individual who sold something with the fraud built into the name like that would be arrested. Value crushed tax is a more accurate and honest description.
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