71–80 of 140 posts
I would love to hear how they intend to enforce such a global minimum tax rate. As well how they would guarantee that no country offers a tax credit or otherwise to lower the numbers. And then, of course, there's the really common trick of keepin profits on the books near zero for a corporation to avoid taxes altogether. Would they suddenly be taxing income and not profit?
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Congrats, they got more of the pie while reducing its total size. And getting my tax money on top of it via EU programs.
Ireland has been a net contributor to the EU budget for many years. Plus it bailed out many EU bondholders when it didn't need to.
https://en.m.wikipedia.org/wiki/Post-2008_Irish_banking_cris...
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Ireland has been a net contributor to the EU budget for many years. Plus it bailed out many EU bondholders when it didn't need to.
It was itself bailed out to the tune of 44b, so they still owe me a couple of bailouts, given that no one ever bailed me out. The whole EU is full of chery pickers and the fact that we have tax havens within it is disgusting.
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Sanctions on non-compliannt countries.
This strikes me as incredibly imperialistic. Why should the USA get to decide what the tax rate is for the rest of the world?
This will solve exactly 0 problems. I can't believe this is our treasury secretary. Completely clueless.
A global minimum corporate tax rate would solve the problem of corporations moving assets and headquarters to jurisdictions with lower taxation.
My perception is that there is a marked increase in the someone "will do X", or "will call for Y", or "will ask for Z" type reporting. How about just report when it happens?
What is the strategy anyway? Is it to get the story first? Is it an attempt at preloading spin? Is it an attempt at taking the public's temperature? Or is it a means to manufacturing news content where none exists?
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A global minimum corporate tax rate would solve the problem of corporations moving assets and headquarters to jurisdictions with lower taxation.
An automatic rainbow unicorn pony supply would solve my rainbow unicorn pony shortfall, but that is also make-believe so never mind. This effort certainly will not accomplish the impossible thing they claim it will accomplish. Simultaneously it will cause a lot of problems for society that will make certain well-placed people even more money than they had before they installed the current government, which is the who…
Another attempt from the US to control the global economy. Next step, if a country doesn't comply with their global tax rates, it will be labeled enemy and suffer economic sanctions.
Why don't we end all this corporate tax stupidity and remove the corporate income tax? It is a very inefficient and complicated tax to levy. >Most economists concluded long ago that it is among the least efficient and least defensible taxes. https://www.econlib.org/library/Enc/CorporateTaxation.html We can't have nice things because too many people see economics as a moral issue and not a math problem.
It is both. Corporations benefit from the existence of a well-functioning society that gives them invaluable tools to survive and thrive (they wouldn't exist without it). Why should they not contribute anything back?
The company needs a profit margin of x. If you place a tax of y on the company, that margin, simplistically, is now x+y.
The company can increase the prices on its goods by y, which means everyone now pays y more (so, the government is now making the corporation collect the tax). Or it can absorb the cost of the tax, which would hurt it’s operating margin to survive, a small amount maybe could be done, but after a while they simply raise the price and pass y along to the populace.
It is a stealth tax, pure and simple. If you want the more pernicious suggestion, the tax is a poor persons sales tax disguised as populace claptrap to make the electorate like they are sticking it to the big fat cats in corporations.
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So it doesn’t get locked out of the financial system by America
That’ll erode america’s financial system fairly quickly. You can’t sanction Ireland, without sanctioning the EU, also China and India won’t agree to that, so there goes 80% of the people you trade with.