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EU adopts global minimum 15% tax on big business

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Re: EU adopts global minimum 15% tax on big business

#41
post #39

Earlier quoted context omitted.

Quoted post unavailable.

The only difference is, I suppose, the fact that one comes from a people that got very close to experiencing the "social justice paradise" and the other is just a made up phrase by an internet troll. Otherwise, they are practically indistinguable.

I'm not a troll. And I don't think most people, including the majority of strident believers in social justice, would consider the 20th century Soviet Bloc to be a paradise.

Re: EU adopts global minimum 15% tax on big business

#42
post #22
post #4

> "Today the European Union has taken a crucial step towards tax fairness and social justice," EU economy commissioner Paolo Gentiloni said. There is a saying in Poland: "The difference between > and > is the same as the difference between > and >. I wish we would actually listen to the those countries, when it comes to topics like socialism and communism. Though I suspect the Western European countries need to taste…

If we're going to listen to reactionary wisdom of folk sayings, I've got a long, long list of ones that will provide us with all sorts of simple-to-grok, contradictory, and utterly pointless advice for how to steer our politics. And this particular one works just fine if you reverse the adjectives. After all, the justice system is generally the one responsible for executing people. It does tend to apply itself in a r…

It's kind on interesting that the word "reactionary" is also really disliked in Poland too (alongside with the likes of "comrade"). Both of those (plus "social justice") have been used to silence and oppress there. It's really disheartening to see that kind of vocabulary coming back to fashion in English.

Re: EU adopts global minimum 15% tax on big business

#43

This isn't really as big a deal as it's been made out to be, IMO. This is Pillar 2 of the OECDs tax reform for corporations. Pillar 1 is much more interesting, and would require corporations to actually book profits where they are made (so not putting everything through Ireland for example). This will have a much bigger impact imo than this 15% ruling, because right now there are a bunch of tricks you can use to get…

Out of curiosity, how do you define where profits are made when it comes to selling digital services? There is no physical movement of goods. Do you determine it based on where the software was originally written?

Surely if, say, netflix is offered to french costumers profit is made in france?

Re: EU adopts global minimum 15% tax on big business

#44
post #42
post #22

Earlier quoted context omitted.

If we're going to listen to reactionary wisdom of folk sayings, I've got a long, long list of ones that will provide us with all sorts of simple-to-grok, contradictory, and utterly pointless advice for how to steer our politics. And this particular one works just fine if you reverse the adjectives. After all, the justice system is generally the one responsible for executing people. It does tend to apply itself in a r…

It's kind on interesting that the word "reactionary" is also really disliked in Poland too (alongside with the likes of "comrade"). Both of those (plus "social justice") have been used to silence and oppress there. It's really disheartening to see that kind of vocabulary coming back to fashion in English.

Reactionary has never left the lexicon, and is a perfect term for describing the bones of most modern conservative movements. It may become less relevant when the latter stop behaving in that manner, but you can't blame me for calling a spade a spade.

When they start talking about things like Laffer curves again, and stop trying to turn the clock back on things like marriage and contraception, then it will stop being an appropriate moniker.

Re: EU adopts global minimum 15% tax on big business

#45

This isn't really as big a deal as it's been made out to be, IMO. This is Pillar 2 of the OECDs tax reform for corporations. Pillar 1 is much more interesting, and would require corporations to actually book profits where they are made (so not putting everything through Ireland for example). This will have a much bigger impact imo than this 15% ruling, because right now there are a bunch of tricks you can use to get…

Out of curiosity, how do you define where profits are made when it comes to selling digital services? There is no physical movement of goods. Do you determine it based on where the software was originally written?

Digital services are taxed where the services are rendered. In other words, the location of the user.

Re: EU adopts global minimum 15% tax on big business

#46

This isn't really as big a deal as it's been made out to be, IMO. This is Pillar 2 of the OECDs tax reform for corporations. Pillar 1 is much more interesting, and would require corporations to actually book profits where they are made (so not putting everything through Ireland for example). This will have a much bigger impact imo than this 15% ruling, because right now there are a bunch of tricks you can use to get…

Out of curiosity, how do you define where profits are made when it comes to selling digital services? There is no physical movement of goods. Do you determine it based on where the software was originally written?

The person buying is usually on planet earth and inside a country. This country is where the profit was made.

Re: EU adopts global minimum 15% tax on big business

#47
post #18
post #3

Earlier quoted context omitted.

More money for the government, why would they refuse ?

This is empirically not always true. Higher taxes can lead to lower tax revenues if it reduces the size of the pie when business go to tax friendly jurisdictions. This can also work with income taxes. For example if you set income tax at 100%, you'd get 0 revenue probably because no one would work. This effect happens at values below 100%

This is what economists call the Laffer curve. See https://en.wikipedia.org/wiki/Laffer_curve.

Re: EU adopts global minimum 15% tax on big business

#48
post #30

Earlier quoted context omitted.

I think they're referring to the one that was enabled by the amendment.

Okay. In that case the cutoff was around $80,000 in today's money, which is certainly not poor (but not rich either).

The difference in the amount of tax has a big effect on post tax money. If it's 45% (city + state + federal + social security etc.) you'd have to make x * (1 - 45%) = $80K * (1 - 3%), solving for x gives $141K which is a big difference.

Re: EU adopts global minimum 15% tax on big business

#49
post #16
post #4

> "Today the European Union has taken a crucial step towards tax fairness and social justice," EU economy commissioner Paolo Gentiloni said. There is a saying in Poland: "The difference between > and > is the same as the difference between > and >. I wish we would actually listen to the those countries, when it comes to topics like socialism and communism. Though I suspect the Western European countries need to taste…

What are you criticizing, the wording or the fact that big corps are being taxed?

A bit of both. I don't mind corps being taxed if that's what a country wants to do. I do have a problem with making this a "global government mandated" thing though. And as I mentioned in other comments, I despise the revival of the communist vocabulary ("reactionary", "bourgeois", "social justice", "equity").

Re: EU adopts global minimum 15% tax on big business

#50
post #15

Earlier quoted context omitted.

The US income tax was originally supposed to be a tax on just the richest, too. These things have a way of scope creeping.

True, but for everyone except the richest, a tax that’s originally targeting the rich that ends up scope-creeping to include the common man down the line is still better than a tax that targets the common man right from the beginning.

No, it just acclimates people to their government lying to them.

When (or if) they protest new measures, they're gaslit as if their concerns are hyperbolic and that scope creep isn't a thing that happens.

Fauci and others admitted to intentionally misleading people. In particular, I'm thinking of when they were trotting out the % of the population that would need to be vaccinated, which crept up from 60% to over 85, before they stopped talking numbers altogether.[0]

Now, you've got people who were already predisposed to mistrust authority who will flat-out disbelieve anything that comes out of the CDC, even if the CDC told them the sky was blue.

[0] https://www.medpagetoday.com/opinion/vinay-prasad/90445

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