Posted on 06/10/2015 5:25:34 AM PDT by expat_panama
YOU probably haven’t heard of the BEPS project — but you soon will. Short for Base Erosion and Profit Shifting, the BEPS Project is the focus of a rapidly moving effort by the Group of 20 countries to create a new set of international tax principles designed to better capture tax revenue from multinational companies like Apple, Google and Starbucks.
The Obama administration signed on to the BEPS Project in the expectation that it would strengthen the American tax base and enable Washington to hold on to more corporate tax revenues. But as the project heads for its end-of-year deadline and the basic shape of the BEPS principles becomes clear, nobody in Washington is paying attention to a simple fact: The United States lost, and lost big.
[snip]
But the project also changes the international tax rules by forcing companies to pay corporate taxes according to the location of the economic activity and value creation generating their profits. At first blush, that would seem to benefit the United States, home to much of the world’s innovation and many innovative companies. Certainly the Obama administration seems to think so, because it continues to support the BEPS effort.
But the administration’s support is rooted in political anti-corporate rhetoric rather than cold hard analysis.
[snip]
Politicians in Washington are accustomed to have the world march to their pace. But in the digital era, even lawmakers in the capital city of the most powerful nation on earth have to realize that delay means disaster.
(Excerpt) Read more at nytimes.com ...
He’s “complaining all the way to the bank” to coin a phrase.
There’ll be no reason for corporations to donate to politicians to get the tax rate lowered- it’s easy to just go overseas.
The GOPe, like the Dems, mostly only do what big donors pay them to do.
So they’ll have less reason to lower the taxes.
It’s a “win-win” for ‘progressives’.
This essay is bogus propaganda.
No—you betray your argument in your own comments. The GOPe likes to hold global taxation and corporate tax rates over businesses, as a club to beat donations out of them. The GOPe is afraid to give its business base anything it wants, except crony capitalism, because, as you put it, “There’ll be no reason for corporations to donate to politicians.”
We shouldn’t hold freedom or our businesses hostage to the fundraising wishes of pols. The way to remove the incentive for businesses to move their labor abroad is to lift the corporate income tax at home. It’s pretty simple and good for the economy. And the GOP—that is, the GOPe—ought to do that without needed to be bribed for it.
Big bounce today. Now what?
So....what to make of this?
Bond crash across the world as deflation trade goes horribly wrong
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/11666355/Bond-crash-across-the-world-as-deflation-trade-goes-horribly-wrong.html
I read AE-P’s article.
Is he hyperventilating to attract attention & hits or....
Is he correctly forecasting that the music will likely stop soon?
I have no idea what to do other than withdraw a bit more cash from the ATM.
One of us must be missing something the other is saying.
Well, since my thesis reults in the obviously correct conclusion that the ‘progrssive’ is lying... :-)
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