Posted on 05/09/2022 9:45:02 AM PDT by Wuli
Treasury Secretary Janet Yellen and her political allies are indefatigable in their attempt to railroad Congress into agreeing to a global tax deal, and their latest argument is that the pact will be good for U.S. competitiveness. If only that were true.
At issue is an agreement last year at the Organization for Economic Cooperation and Development to upend century-old international tax principles. The first prong is a form of excess-profits tax targeted primarily at the largest U.S. tech companies, to be applied in markets where they operate rather than where they are headquartered. The second is a minimum effective tax rate of 15% to be applied to the profits of global firms.
Ms. Yellen and the plan’s other backers say this will end a supposed “race to the bottom” on tax rates, although that race is mostly a figment of the left’s imagination. Lately they’ve added another argument: Implementing the OECD deal will boost U.S. competitiveness by reforming America’s dysfunctional tax system while protecting companies from punishing foreign taxation if other countries implement the OECD plan and America doesn’t.
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(Excerpt) Read more at wsj.com ...
Someday some investigative historian will write about just how it is that Yellen got elevated by Obama to head the Federal Reserve, after her disastrous record as head of the Federal Reserve Bank of San Francisco and then picked by the demented O'Biden to be Secretary of the Treasury. She has been the wrong person at the wrong time every time.
She doesn’t have the authority to tax anyone.
When it comes to taxes, the race to the bottom is a good thing. Globalist government is just a polite name for “government cartel control”. Where do these authoritarians all come from? . . take them out back and hang them!!!!!!! That is what they richly deserve!!!!!
“Globalist government is just a polite name for “government cartel control””
The further away from the people is a governing power the less control they can exercise over that power.
Knowing that the Left in this country tries to get the federal government more and more in charge of more things and regulating more things, and the globalists seek to get international conventions in charge of more and more things.
All of it is to move the power of government further and further from the people.
That just infuriates me.
What a pox on the nation that family has been.
The reason both parties cheated Trump out was to get the Bush Plan for North Mexico (aka USA) back on track.
The illegal alien inundation was necessary for the New World Order.
Daddy Bush knew we would never vote to give away our country so he set about to import people who would.
We have been electing and re-electing people who have been assisting to keep the borders open and the laws unenforced.
We have to stop doing that.
North American Union
I agree that was their plan, and probably still is.
Hopefully Trump and then later DeSantis can put a wooden
stake through this nation destroying plan.
F*ck that guy…and his kin.
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