Yellen calls for global minimum corporate tax rate
1–10 of 89 posts
Re: Yellen calls for global minimum corporate tax rate
#2How will we lobby ourselves out of this fellow 0.1% percenters
Re: Yellen calls for global minimum corporate tax rate
#31) Yellen is clueless about the economy. I think everyone who's watched her at the Fed knows that.
2) We need lower - not higher - taxes. I'd like to see 0% become the maximum tax rate.
3) If there isn't enough money to go around, the government should spend and tax less. They waste, consume and destroy multiple times of what enterprises invest. Given that, how can can living standards possibly improve? Does any of those economic illiterates understand basic math?
Re: Yellen calls for global minimum corporate tax rate
#4Good luck with that.
Re: Yellen calls for global minimum corporate tax rate
#5Presumably the political logic to Tech Giants is: agree to higher taxes, unperson our political and ideological opponents, and we won't break you up?
Re: Yellen calls for global minimum corporate tax rate
#6Duplicate of https://news.ycombinator.com/item?id=26698242?
Re: Yellen calls for global minimum corporate tax rate
#7Whether or not we see such a harmonized tax rate emerge and even if we could find a way to have some governing body “enforce” it, you’d still see countries lowering their effective tax rates to lure firms or bolster growth. I bet there’s a maximum sustainable effective corporate tax rate, but I have no idea what it is (and for all I know it could be zero or negative).
Re: Yellen calls for global minimum corporate tax rate
#8Whether or not we see such a harmonized tax rate emerge and even if we could find a way to have some governing body “enforce” it, you’d still see countries lowering their effective tax rates to lure firms or bolster growth. I bet there’s a maximum sustainable effective corporate tax rate, but I have no idea what it is (and for all I know it could be zero or negative).
It's certainly positive because all the other countries could tariff the spoiler or whatever. It doesn't have to be race to the bottom.
Re: Yellen calls for global minimum corporate tax rate
#9Whether or not we see such a harmonized tax rate emerge and even if we could find a way to have some governing body “enforce” it, you’d still see countries lowering their effective tax rates to lure firms or bolster growth. I bet there’s a maximum sustainable effective corporate tax rate, but I have no idea what it is (and for all I know it could be zero or negative).
Can these small countries who offer the low rates stand up the US sanctions and tarrifs apparatus. The US has alot of strings to pull to make these tax havens cooperate. Thats a nice export industry you have there, would be a shame if something were to happen to it wink nudge.
Re: Yellen calls for global minimum corporate tax rate
#10My theory is that inequality is simply the result of globalization and it's not necessarily a bad thing.
If you had build the most successful retail business, in 1900 you would own the market in your town; in 1950 in your country; in 2020 you'd own the world (or a big part of it). The opportunity is just a lot bigger now than 50 years ago and that trickles down.
Also technology enables goods and services to be produced from everywhere; that means countries compete globally. Many 0.1%ers had to overcome global competition to make the money they're making. In addition, more and more of them can do it from anywhere (def true for entrepreneurs starting fully remote startups, for instance).
So there is both value and necessity in having to compete globally to attract the entrepreneurs and highest producers / best talent. Does it mean 0 tax? No. But it does mean you have to have reasonable taxes and offer a good product (security, laws, culture, talent, whatever it may be).
It also means you don't offend your best 'customers' all the time. All this talk about how 0.1% people essentially unfairly stole their way to their success won't want to make anyone pay more or stick around to higher tax place (city/state/country).
As a government you first want to be efficient with tax money; be reasonable with taxes, even if higher than average (but within the competitive ballpark); show appreciation for the people that end up paying most of your taxes; and stop talking about inequality as being exclusively a bad thing and a result of tax policy.