Posted on 10/30/2021 11:40:43 AM PDT by Oldeconomybuyer
ROME (AP) — Leaders of the world’s biggest economies on Saturday endorsed a global minimum tax on corporations as part of an agreement on new international tax rules, a step toward building more fairness amid skyrocketing revenues of some multinational businesses.
The move by the Group of 20 summit in Rome was hailed by U.S. Treasury Secretary Janet L. Yellen as benefiting American businesses and workers.
G-20 finance ministers in July had already agreed on a 15% minimum tax. Its formal endorsement at the summit Saturday in Rome of the world’s economic powerhouses was widely expected.
Yellen predicted in a statement that the deal on new international tax rules, with a minimum global tax, “will end the damaging race to the bottom on corporate taxation.”
The deal did fall short of U.S. President Joe Biden’s original call for a 21% minimum tax. Still, Biden tweeted his satisfaction.
(Excerpt) Read more at apnews.com ...
Let’s see if Congress passes that “law”. If not, ignore it.
Hopefully, the Congress will kill any such “global” tax. If not, the SC should strike it down as a treaty not ratified.
So.....all the guys paid from taxes think higher is better?? Is water still wet?
Is this still by choice ?
Um... no
How about a global vax jab to go with it...damn globalist Communists.
What is to stop some country from getting the rest of the world to adopt this global tax and then lowering their own tax? I can see China doing this. Or for an even wilder card, imagine Elon Musk starting b his Martian civilization and having a much lower tax rate for incorporating on the Red Planet, making it the Delaware of the Solar System
The Asspress piggies are on a roll today.
I can hold a meeting and demand other countries pay for my fictitious crap? Just how cool this that? I may just give it a go...
The move by the Group of 20 summit in Rome was hailed by U.S. Treasury Secretary Janet L. Yellen as benefiting American businesses and workers.
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