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

Laws/rules that govern ''Absentee ballots'' is a State's Jurisdiction/Power.

 

AND, I've been very consistent with said belief, thus, non-hyprocritical.

 

Define gross profit you mean gross income? Do you pay your taxes on gross income? You do know gross income can be wiped out by expenses so not net income, no net profit.

They pay tax in the country in which it is earned unless they return it here and then pay tax on it. Why should they pay taxes here on money earned there?

Tax revenues hit a 15% rate of growth under those rates when has it ever done better? Capital gains revenues doubled at half the Clinton rate. And BTW Bush and the Republicans brought the deficit back down to a paltry $161B.

What about operating expenses? What about cost of labor? What if those are so high there was no net income before taxes? The government is just going to bleed the company dry, force it to sell assets, get rid of labor cost or take out more debt to pay the taxes?

 

Quote: They pay tax in the country in which it is earned unless they return it here and then pay tax on it. Why should they pay taxes here on money earned there?

??????????????????

Read this, and you'll have a better understanding;

https://www.federalreserve.gov/econ...repatriation-of-offshore-profits-20190806.htm

 

Holy lord, they don’t even try to hide it anymore.

Great, Global Communism. The most idiotic idea ever.

What the hell ever happened to good ol competition ala capitalism?

Not to mention the US is one of only 2 countries that tax you no matter if you live in the country or not. (The other country being a tin pot dictator African country)

 

I asked you................

 

No, you're not a Jeffersonian, and if you were you wouldn't believe "Global corporate minimum tax.........Excellent idea, and long overdue." You would be adamantly opposed to that idea and the policies behind this call to abdicate our economic sovereignty.

You and the Biden Administration are fooling no one...

 

In addition, the following;

Before the Tax Cuts and Jobs Act, foreign profits of U.S. multinational enterprises (MNEs) were subject to U.S. taxes, but only when repatriated. This system incentivized firms to keep profits abroad, and, by the end of 2017, U.S. MNEs had accumulated approximately $1 trillion in cash abroad, held mostly in U.S. fixed-income securities.23

Under the TCJA, the United States shifted to a quasi-territorial tax system in which profits are taxed only where they are earned (subject to minimum taxes); henceforth, U.S. MNEs' foreign profits will therefore no longer be subject to U.S. taxes when repatriated. As a transition to this new tax system, the TCJA imposed a one-time tax (payable over eight years) on the existing stock of offshore holdings regardless of whether the funds are repatriated, thus eliminating the tax incentive to keep cash abroad.3

 

Under the TCJA, the United States shifted to a quasi-territorial tax system in which profits are taxed only where they are earned (subject to minimum taxes);

It's called; The GILTI minimum tax, currently at 10.25%

 

LOL oh yea I'm sure that will work great. The lefties were whining and crying Trump was so mean getting this same group to abide by the 2% of GDP for defense for god's sake. For some reason I think Biden's deal will cost America and the others, not so much. I bet they really want to help even the trading field lol.

 

Negative.....Domestically, I'm a Jeffersonian, however, internationally, we need a level playing field, such as; The WTO.

 

OK and I'll ask again

Define gross profit you mean gross income? Do you pay your taxes on gross income? You do know gross income can be wiped out by expenses so not net income, no net profit



They pay tax in the country in which it is earned unless they return it here and then pay tax on it. Why should they pay taxes here on money earned there?



Tax revenues hit a 15% rate of growth under those rates when has it ever done better? Capital gains revenues doubled at half the Clinton rate. And BTW Bush and the Republicans brought the deficit back down to a paltry $161B.


What about operating expenses? What about cost of labor? What if those are so high there was no net income before taxes? The government is just going to bleed the company dry, force it to sell assets, get rid of labor cost or take out more debt to pay the taxes?

 

Good point!

Key words; ''getting this same group to abide by the 2% of GDP for defense''

Once again, establishing ''a level playing field''

 

Whatever is globally fair!

Among NATO members, was Trump's minimum 2% of GDP Defense spending FAIR or UNFAIR?

 

And you want the rest of the world to decide what is fair for US citizens?

 

As we know, that is Jeffersonian. Or at least were told.

 

Wrong mentality!

An agreed minimum Global 15% corporate tax rate would greatly benefit our Domestic Economy, and sink a number of tax havens, such as Bermuda.

 

To refresh your memory, Trump wanted to elimininate tariffs altogether as well as industry subsidies and non-tariff trade barriers.

Agree or disagree?

Answer the question

 

What does that have to do with Yellen and her global minimum tax rate?

Try to focus.

 

LOL, sure. Well regurgitated. Is there anything that doesn’t fall under the Biden definition of “infrastructure’?

 

Where in the world did you get this crazy idea?

Do you have any idea the amount of subsidies paid to the ag industry during the Trump years?

 

CBO reports that corporate tax review so far this fiscal year is up about 19% so far this fiscal year.

55 out ouf tens of thousands of businesses.

 

Maybe y’all are just struggling with the definition

in·fra·struc·ture
/ˈinfrəˌstrək(t)SHər/

noun

1. the basic physical and organizational structures and facilities (e.g. buildings, roads, power supplies) needed for the operation of a society or enterprise.
   "the social and economic infrastructure of a country"

If you have something to add — like a source — that says only 5% of this bill goes to infrastructure (see the above definition again if you are still struggling) feel free to post it.

 

Fact; Trump wanted a ZERO world-wide tarrifs, ZERO subsidies, and ZERO non-tariff trade barriers.

Thus, the question is; Which domestic/global ENTITY would end up enforcing said ZERO's?

In other words, I want people to start thinking.