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Ireland joins OECD International Tax agreement

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Re: Ireland joins OECD International Tax agreement

#11

Post by m0zg »

munk-a wrote: post #7
m0zg wrote: post #4

Ireland is about to discover how unattractive it is as a locale for multinational HQs when the playing field is somewhat more level. And I'm in favor of the move as a middle class US taxpayer and a small business owner who pays through the nose, but this is a quite obvious self-own in the long run for them, much for the same reason why introducing a wealth tax was a self-own for France. Big Money is mobile, sophistic…

Sure - but it's the process of making the world a better place. The more these tax havens get shut down the fewer (and riskier) places that corporations have to shelter their revenue.

Yes, but it'll make Dublin a worse place. That's something local governments should keep in mind. Also, the top corporations OWN the governments worldwide at this point. The suggestion that any of this will significantly affect them is naive at best.

Re: Ireland joins OECD International Tax agreement

#12

Post by lettergram »

munk-a wrote: post #7
m0zg wrote: post #4

Ireland is about to discover how unattractive it is as a locale for multinational HQs when the playing field is somewhat more level. And I'm in favor of the move as a middle class US taxpayer and a small business owner who pays through the nose, but this is a quite obvious self-own in the long run for them, much for the same reason why introducing a wealth tax was a self-own for France. Big Money is mobile, sophistic…

Sure - but it's the process of making the world a better place. The more these tax havens get shut down the fewer (and riskier) places that corporations have to shelter their revenue.

Yeah because governments use those funds so effectively.

It’s why when I look around the U.S. at the trillions we spent over the last two decades and I see... well looks pretty much the same as the 90s honestly

Re: Ireland joins OECD International Tax agreement

#13

Post by seoaeu »

m0zg wrote: post #4

Ireland is about to discover how unattractive it is as a locale for multinational HQs when the playing field is somewhat more level. And I'm in favor of the move as a middle class US taxpayer and a small business owner who pays through the nose, but this is a quite obvious self-own in the long run for them, much for the same reason why introducing a wealth tax was a self-own for France. Big Money is mobile, sophistic…

I suspect that there was some amount of "persuasion" by other countries that weren't happy about Ireland's status as a tax haven. Factoring that in, joining the agreement may have been a wise move for them

Re: Ireland joins OECD International Tax agreement

#14

Post by lettergram »

m0zg wrote: post #4

Ireland is about to discover how unattractive it is as a locale for multinational HQs when the playing field is somewhat more level. And I'm in favor of the move as a middle class US taxpayer and a small business owner who pays through the nose, but this is a quite obvious self-own in the long run for them, much for the same reason why introducing a wealth tax was a self-own for France. Big Money is mobile, sophistic…

I just saw 100 new $740m shell companies lol

Re: Ireland joins OECD International Tax agreement

#16

Post by busymom0 »

I have never understood the whole "tax the rich" idea and I am not rich, don't own a house or car or stocks or anything expensive.

When and how will the taxes help you and me? The money just ends up going to a black hole for the government to spent inefficiently. And if you are in the US, the money gets spent on funding the military industrial complex for bombing more countries, regime changes, intelligence agencies, sent to other countries for random gibberish studies and hiring more admin or useless jobs.

I would recommend listening to the first few minutes of this "Walmart vs. The Morons" video to understand how inefficient the government really is:

https://youtu.be/oKFdAOKq4Lk

Re: Ireland joins OECD International Tax agreement

#17

Post by jgeada »

Brakenshire wrote: post #9
munk-a wrote: post #6

I've always been baffled as to how this is seen as a multi-national issue. The US could always implement unilateral minimum VAT and profit[3] taxes on corporations forcing them to effectively pay whatever proportion the US demands to continue doing business in the world's largest consumer market. Just because you're only paying 3%[1] profit[3] tax in Bermuda doesn't mean you can necessarily skate around the remaining…

Governments want to tax profits rather than revenues. A tax on revenues would kill a lot of high growth businesses.

And yet they tax individuals on our revenues and not our profits …

Re: Ireland joins OECD International Tax agreement

#18

Post by munk-a »

lettergram wrote: post #12
munk-a wrote: post #7

Earlier quoted context omitted.

Sure - but it's the process of making the world a better place. The more these tax havens get shut down the fewer (and riskier) places that corporations have to shelter their revenue.

Yeah because governments use those funds so effectively. It’s why when I look around the U.S. at the trillions we spent over the last two decades and I see... well looks pretty much the same as the 90s honestly

Sorry, because governments spend money inefficiently we should just allow rampant corruption? That's an insanely fatalist view to take.

Re: Ireland joins OECD International Tax agreement

#19

Post by mkoryak »

jgeada wrote: post #17
Brakenshire wrote: post #9

Earlier quoted context omitted.

Governments want to tax profits rather than revenues. A tax on revenues would kill a lot of high growth businesses.

And yet they tax individuals on our revenues and not our profits …

But individuals aren't high growth businesses with lobbyists

Re: Ireland joins OECD International Tax agreement

#20

Post by munk-a »

m0zg wrote: post #11
munk-a wrote: post #7

Earlier quoted context omitted.

Sure - but it's the process of making the world a better place. The more these tax havens get shut down the fewer (and riskier) places that corporations have to shelter their revenue.

Yes, but it'll make Dublin a worse place. That's something local governments should keep in mind. Also, the top corporations OWN the governments worldwide at this point. The suggestion that any of this will significantly affect them is naive at best.

I don't disagree - I can't imagine Ireland signed onto this without getting a serious benefit from it... and I think that ideally we should be looking at solutions that don't require any individual country to be altruistic - but still, I'm happy the change has happened.
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