U.S. Treasury Secretary Yellen to call for global minimum tax rate

B.S.

Foreign leaders were saying the exact same thing when they were forced by Trump to reduce their custom duties, and/or eleminate several unfair trade pratices, however, in an effort to level the playing field.

For your info, a minimum global corporate tax rate would also level the playing field.

 

Here's another B.S.

YOUR QUOTE: So, we are giving up our American autonomy

Well, ''autonomy'' is the main reason why we had decades of globalization, and if my memory serves me correctly, Republicans have often complained about the cons of globalization.

 

AND speaking of ''Corporate America autonomy'', is this an example?

Trump threatens Harley-Davidson over European production ...
www.reuters.com › article › us-harley-davidson-tariffs-i..Jun. 26, 2018 — Trump threatens Harley-Davidson over European production move ... would let Harley-Davidson avoid the country's up to 60 percent tariffs on ...

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Let's start a list of hypocrites.......

 

Balderdash.. as that has Nothing to do with a global corporate tax. Custom duties are negotiations on imports and exports and the reason why we negotiated to improve trade deficits. If you want to make all tariffs equal across western nations, you will killed exports for the US and Europe.

 

Harley Davidson moved production OUTSIDE of the US. What in gods name does that have to do with US Autonomy when a company moves labor out of the US into a foreign nation?

 

She is proposing a global tax on multinational corporations, it would not impact our tax rates.

 

HOWEVER, it was a question of ''Autonomy'' when Trump wanted to pull out of the World Trade Organization, right?

 

Make your local tax policies more favorable to the money staying there and by the way any interest or earnings on the money is taxable and required to be reported and we have financial treaties with those countries for mutual reporting. And the LAST thing we need to do is send even more money to the corrupt UN and it's elitist delegates and officials.

 

What if they lost money and had no profits? A minimum income tax on what level of income? Do you believe ever person should also pay this minimum tax?

"Those provisions include tax breaks for stock options given to chief executives as part of their pay packages"

Because of taxes paid on what the government claims is to high a salary being paid. Get rid of that and allow all salary, a business expense before profits, we deducted.

"credits for research and experimentation"

Yes a business expense, what less research and experimentation then get rid of it.

"and write-offs for renewable energy and capital investments."
Yes a business expenses you want less renewable energy and capital investment get rid of it.

"The 2017 Tax Cuts and Jobs Act’s dramatic cut to the corporate income tax rate, from 35 to 21 percent, also plays a role in the limited tax liabilities facing many major corporations."

And allowed more investment and more jobs and more taxpayers and more tax revenue.

Do you want more people working, more companies investing and expanding or higher punitive tax rates because you don't like companies making high profits and reinvesting it?

 

Peharps you would like to debate ''State's Autonomy'', thus, during the period when Federal Trump wanted to overturn State's election laws, and the Electoral College?

 

a. The repatriation of near $1 trillion in gross profits, taxable at a minimum rate, and payable over an 8 year period

b. And effective 2018, a minimum tax on future foreign earnings

.........is actually ''a better than nothing'' deal, however, it will not replace Bush's FY2007 $370 billion Corporate tax receipts, in current dollars; $470 billion.

https://www.fiscal.treasury.gov/files/reports-statements/mts/mts0907.pdf
https://www.usinflationcalculator.com/

As I stated in a previous post, the gradual/rapid expansion of our MNE's have significantly lowered Uncle Sam's corporate tax receipts.

For your info, I would fully support a Global 15% minimum corporate tax rate on Gross Profits, thus, Total Revenues minus COGS X 15%. Also a great win for our non-MNE's.

 

After Biden raises the Corporate tax rates there will be a Giant sucking sound of companies relocating from the US. Maybe he is trying to get other countries to hike up taxes to mitigate the damage.

 

As I stated in a previous post, a global minimum corporate tax rate would level the playing field, and on trades, that's exactly was Trump wanted.....''Level the playing field''.

Google; Trump wants to level the playing field

 

Some of us don't want a level playing field. We want the US to be on the high ground (so to speak).

 

Well, we're certainly not on a high ground of Corporate tax receipts.......

Trump's FY2019 Corporate tax receipts; $230 billion

Bush's FY2007 Corporate tax receipts, 2019 dollars; $460 billion

https://www.fiscal.treasury.gov/files/reports-statements/mts/mts0907.pdf
https://www.usinflationcalculator.com/

 

FYI. I think Bush was one of the worst Presidents in US history. I am not a huge fan of Trump. That being said -- what is your issue with their Corporate tax receipts?

 

And how will this differ from a sanction in the eyes of the Democrat voters minds.. I'm very curious as to how these tax's will be recouped by the IMPORTERS. lmao

How quickly the accusers become the accused!

 

And all the corporations will simply absorb the tax, riiiiiiiiiggggghhhhhhtttt! Jesus another four years of leftist Arithmatrick

 

Just make all corporate taxes 0 and implement a sales tax. Would save everyone a lot of headache and achieve the desired goal.

 

Perhaps, more importantly, we see that Biden & Co. are admitting it.

They know their tax hikes will harm the U.S., the U.S. economy, U.S. businesses and U.S. workers....

....AND THEY DON'T CARE.

Neither do their supporters and apologists...

 

Centralized global power and control over everyone's lives.....the worst idea EVER.

 

The following indisputable fact is the issue;

For the last 90 years, our Office of Budget and Management has been comparing Today's and Yesterday's Uncle Sam's Receipts ''as a percent of GDP'', thus, an average of 16.3% VERSUS an average of 17.3% equates to a SIGNIFICANT difference/shortfall.

For example;

Nominal GDP ($20 trillion) X 16.3% = $3.26 trillion
Nominal GDP ($20 trillion) X 17.3% = $3.46 trillion

Thus, a significant difference/shortfall of; $200 billion.........OUCH!

 

You mean the state election laws that were modified by democrats to accommodate vast mail in voting? And for you to even try and get sanctimonious regarding the electoral when the democrats have been scream illegitimate president for 5 years and doing everything to remove the electoral college.

 

I'm a Jeffersonian, thus, ''Limited Federal Government Powers''

Thus, I opposed Federal Trump who tried to overturn State's election laws/Electoral College, and today, I don't like Federal Harris/Biden's noses in Georgia's electoral reforms.