81–90 of 140 posts
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This strikes me as incredibly imperialistic. Why should the USA get to decide what the tax rate is for the rest of the world?
Because we need to move beyond having 200+ countries? It's time we start converging toward a one world government.
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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.
That's not how bailouts work. They were loaned money.
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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…
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?
I am on the side of people wanting to see corporate tax avoidance stopped. But my first reaction on seeing this headline and reading the article is that if a bunch of businesses got together and decided to set rates, we'd accuse them of collusion and call them a cartel; if they were in the US, we'd all be yelling about antitrust.
IMO, trying to set a global minimum corporate income tax is addressing a symptom. I don't know what the real problem is, but "dang it, they reported their income in Ireland!" is definitely not the whole story.
To people saying this will end the race to the bottom. It will never end, when every rate is equal then tax rate would magically stop being important and the important number will be: 1) Odds of tax audits 2) Countries with statutes of limitations 3) Lenght of the legal proceedings so you can get to the aforementioned statutes of limitation 4) Median fines imposed for non-compliance etc. 5) Countries with most bribab…
To people saying this will end the race to the bottom. It will never end, when every rate is equal then tax rate would magically stop being important and the important number will be: 1) Odds of tax audits 2) Countries with statutes of limitations 3) Lenght of the legal proceedings so you can get to the aforementioned statutes of limitation 4) Median fines imposed for non-compliance etc. 5) Countries with most bribab…
That's a very cynical view. Many things cannot be 'solved', but they can be ammeliorated.
From people who pay tax experts millions to study really clever ways of doing transfer pricing and income shifting towards people who study the odds of audit and bribe tax officials
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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?
Because the tax is a stealth tax on the populace. 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,…
Not really, this only happens for perfectly inelastic goods. We can use the price elasticity of demand and price elasticity of supply to determine what amount of the tax burden will fall on buyers and sellers [1]. We can even show that for perfectly elastic goods, the tax burden will fall entirely on the sellers.