Posted on 10/09/2021 6:00:23 AM PDT by where's_the_Outrage?
The breakthrough comes after some changes were made to the original text.
Notably that the rate of 15% will not be increased at a later date, and that small businesses will not be hit with the new rates.
This helped Ireland — a longtime opponent of raising corporate tax rates — to get on board with the plan....
The agreement is "a once-in-a-generation accomplishment for economic diplomacy," U.S. Treasury Secretary Janet Yellen said in a statement.
Yellen applauded the many nations who "decided to end the race to the bottom on corporate taxation," and expressed hope that Congress will use the reconciliation process to quickly put the deal into practice in the U.S.
"International tax policymaking is a complex issue, but the arcane language of today's agreement belies how simple and sweeping the stakes are: When this deal is enacted, Americans will find the global economy a much easier place to land a job, earn a living, or scale a business," Yellen's statement said.
(Excerpt) Read more at msn.com ...
There’s still import taxes, dumping and other ways to sc*** with the economy.
That’s why they had to get rid of the Mafia. They were competition for “dipping their beak” and getting their cut.
The only way to implement Marxism is to prevent people from being able to escape it.
World “leaders’?
More like world corruptocrats.
That "race to the bottom" they decided to end is called the free market, the most energy-efficient economic system ever invented. Yea, no more free market! Now the government monopolies can resume being wasteful, energy-inefficient, and most of all, authoritarian.
The Gesarian mafia at work.
Using our corporate tax over 20 percent? Won’t businesses see savings?
Isn’t
Corporation DO NOT pay taxes. Whatever the government(s) set as the tax rate, becomes an expense that is built into the costs/profits of the goods and or services sold of that corporation.
The “tax” is passed onto the consumer, or the corporation folds if it cannot make a profit, or the corporation moves to a location where the tax is lower. There is no other outcome.
All this would do, and I doubt every nation would follow it, is eliminate the last option.
“What is in the agreement?
“The deal marks a shift in tax policy because it not only imposes a minimum corporate tax rate, but it also forces companies to pay taxes where they operate - not just where they have their headquarters.
“The exact formula for working out how much companies will owe across the various jurisdictions is one detail that still needs to be finalized.”
—
In other words, a big nothing but ... a lot of wine cheese crab and lobster were consumed, so there is that.
So long story short…. The “corporations” pay more- the consumer pays more. So more inflation.
And then there is this . . . https://www.nowtheendbegins.com/at-un-meeting-vatican-foreign-minister-archbishop-paul-gallagher-wealth-redistribution/ Global Tax: At UN Meeting, the Vatican Calls tor Redistribution of Wealth to Overcome ‘Economic Inequality’ through Global Taxation
Distribution of Wealth with a new name ,LOL
If raising prices for everyone to fund government.
If and making it impossible for the United States to advance economically by being more attractive to investors.
Think how evil this is, decrying low taxes:
Yellen applauded the many nations who “decided to end the race to the bottom on corporate taxation,”
The rate of 15% will not be increased at a later date
That may not be a bad idea the income tax system should go to a flat tax system the democrats would go broke.
Many businesses could expand at a greater rate even the public would benefit from it and no need to hide money off shore a greater cash flow.
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