130 nations agree to support U.S. proposal for global minimum tax on corporations

[kaz]

...

"The concepts of "freedom" and "taxation" are mutually exclusive....Especially so on a global level.

You have no details, no notion for national sovereignty, yet are pimping for the most anti-liberty and sovereignty killing thing imaginable.

I was right....You're a useful idiot.

Not really.
It is taxation that can provide the things you or your corporation need or want, that can greatly increase your profit.
So taxation can improve your freedom, if done correctly.

For example, do we want public roads, schools, police, fire departments, defense, etc.,? Of course we do.
We would have less freedom without them.

View attachment 508131

There is no other means of providing reasonable transportation, education, police, fire departments, defense, etc. with out government taxation.

Without government taxation, not only would we not have gone to the Moon, but we would not have any Internet.
There is government waste and abuse, but that is a different matter.

Corporate taxes are double taxes and should be abolished. This is Democrats trying to trap US companies because your policies destroy American business, so you want to trap them here

No corporate taxes are not double taxes.
If a corporation makes tons of profits from its production, but then pays it all out as bonuses to employees, dividends to stockholders, or to make capital improvements in the company property, then it pays ZERO corporate taxes.

That you hate businesses and want a socialist state doesn't contradict that corporate taxes are double taxes on shareholders.

They clearly are. Shareholders pay both corporate taxes as well as capital gains/dividend taxes on the same money. That is double taxation

Wrong.
The corporation only pays taxes on money not dispersed to stockholders, and does not pay tax on money that is dispersed to stock holders.
Stock holders only pay taxes on money dispersed to them, not on money the corporation retains.
There is no double taxation, never has been, and that would be illegal.

What smart corporations do if they have any profits left over, is buy up as much of their own stock as possible.
That greatly increases the value of stock held by stockholders, without incurring any tax debt at all, to anyone.

I said it's a double tax on investors you stupid fuck. I have said that several times. Every time you come back with your inability to read and say it's not a double tax on the corporation. That is irrelevant, a corporation isn't a person, it's an investment. This just you being stupid and spreading propaganda.

So investors pay double taxes on the same money now. You want to make it an infinity tax and collect taxes every year on their wealth, which taxes investors again and again and again on the same money. Double taxes aren't remotely enough for you, comrade.

Your motto is we don't need jobs, poverty for all!

Taxes = infinity is your goal, Stalin

 

[bripat9643]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

Who's going to enforce that?

 

[NightFox]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

To be enforced by whom?

Dunno, there aren’t any details of the enforcement mechanisms that have been made available yet. If I had to guess, the enforcement mechanisms will center around tariffs.

Does national sovereignty mean anything at all to you?

Where is the problem with “sovereignty” here? This is something that nations are free to agree to or not agree to, not to mention each nation still retains direct authority over its own tax code. It’s no more a violation of sovereignty than an international arms limitation treaty.

God damn bro they are making up a number out of thin air, that you must pay

Are you referring to the proposed 15% minimum GMT? If so, are you aware that’s significantly LOWER than the current U.S. corporate tax rate? Are you also aware that there is a possibility that U.S. citizens will pay LESS in taxes and retain MORE domestic business activity from this proposal. Again, why do you want to pay taxes to subsidize foreign countries?

You don't see anything wrong with this?

I see all kinds of potential things wrong with it, however I see A LOT more wrong with the current system of exploitation being practiced by large multinational corporations.

 

[bripat9643]

Taxes used to be raised in order to fight wars. Now they pay for our roads, water,health and education. Corporations benefit from all of that and they should pay their way.

America's corporations would yield to force Tommy. It's always going to be up to the American people to change their attitudes to allowing corporations unfettered rights.

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For the fifth year in a row, Canada is ranked the #1 country in the world in 2020 for Quality of Life, according to a global ranking from US News.

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The world's leading democracies had addressed the issue long ago and that led to their success.

Not even Biden is there yet, and his democratic party is miles off being able to break free of the corporate hold on the American way of greedy and unfettered capitalism.

Maybe they'll try Trump again? He's a corporatist who must surely have the ideas it takes to uphold corporate control of their country! LOL

Trump was very much against this. He threatened the French and others when they mooted this a couple of years back.

Obviously Trump would be against any restraint on corporations. He's a fkng corporatist himself!

That's what makes it so mindbending to understand why so many poor ignorant American louts would turn to him for answers.

And then still have faith in him when he failed to deliver the goods!

This kind of bullshit won't bring America's corporations into line. It's still going to have to be an attitude adjustment by Americans who lick the corporatists' asses.

How do you imagine taxing coorporations will help the little guy? Corporations pay for grannies pension, moron.

 

[kaz]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

When you tax corporations you take part of their revenue. They pass along that shortfall to their employees and raise the prices of their goods and services.

Bingo! The man is paying attention.

And it doesn't end there. The higher prices reduce sales (supply and demand) and they help foreign companies take market share because as you accurately pointed out our prices are higher.

Companies don't pay taxes, they collect them.

Democrats are so stupid. They get (somewhat) that when steel goes up, prices go up. But then they think that companies just eat taxes and don't pass them along.

Democrats are economics deniers

 

[bripat9643]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

To be enforced by whom?

Dunno, there aren’t any details of the enforcement mechanisms that have been made available yet. If I had to guess, the enforcement mechanisms will center around tariffs.

Does national sovereignty mean anything at all to you?

Where is the problem with “sovereignty” here? This is something that nations are free to agree to or not agree to, not to mention each nation still retains direct authority over its own tax code. It’s no more a violation of sovereignty than an international arms limitation treaty.

God damn bro they are making up a number out of thin air, that you must pay

Are you referring to the proposed 15% minimum GMT? If so, are you aware that’s significantly LOWER than the current U.S. corporate tax rate? Are you also aware that there is a possibility that U.S. citizens will pay LESS in taxes and retain MORE domestic business activity from this proposal. Again, why do you want to pay taxes to subsidize foreign countries?

You don't see anything wrong with this?

I see all kinds of potential things wrong with it, however I see A LOT more wrong with the current system of exploitation being practiced by large multinational corporations.

No Dim proposal will ever lower the amount we pay in taxes. Who are you trying to kid?

 

[Oddball]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

When you tax corporations you take part of their revenue. They pass along that shortfall to their employees and raise the prices of their goods and services.

Bingo! The man is paying attention.

And it doesn't end there. The higher prices reduce sales (supply and demand) and they help foreign companies take market share because as you accurately pointed out our prices are higher.

Companies don't pay taxes, they collect them.

Democrats are so stupid. They get (somewhat) that when steel goes up, prices go up. But then they think that companies just eat taxes and don't pass them along.

Democrats are economics deniers

Democrats are economics deniers illiterates.

Fixed dat 4 U.

 

[Tommy Tainant]

Do America's corporate leaders care about their country and their country's working class people?

Or do they only care about finding the most lucrative marketplace and the lowest wages they can pay, that brings the highest profits?

Sooner or later the American people are going to have to come to an understanding of how capitalism works.

Canada ranked #1 country in the world for Quality of Life | News

For the fifth year in a row, Canada is ranked the #1 country in the world in 2020 for Quality of Life, according to a global ranking from US News.

dailyhive.com

Will Americans then finally understand that capitalism can't be permitted to operate unfettered by government.

I think the notion of "American business" is outdated. Pretty much every listed corporation will have an international ownership and their loyalty is to their shareholders and not the US.

The big ones, Starbucks,Mcdonalds, Amazon etc. All have international ownership and adapt to local laws.

 

[Donald H]

...

If the corporate tax is baseline across the globe, corporations will then head to countries with a lower minimum wage.

And no, that won't be the US of A.

Sounds like the democrats will put a dagger in the economic heart of the US once and for all.

US corporations have already headed to countries with a lower minimum wage. That's how capitalism works!

This is an attempt to put restraints on capitalism.

So far, America is refusing to consider the many possible homegrown restraints that are needed. The world's leading democracies have and thier success is measured by their quality of life standing.

Canada ranked #1 country in the world for Quality of Life | News

For the fifth year in a row, Canada is ranked the #1 country in the world in 2020 for Quality of Life, according to a global ranking from US News.

dailyhive.com

Restraining capitalism is extremely important and why we create government in the first place.
If government did not restrain capitalism, then whomever could afford the most thugs would dictate to the rest of us, and we would be back in feudal times.

US technology requires investment, and it should be illegal to then move that technology to other countries.

America's corporations are doing the moving of their corporations to other countries.
Does anybody think that China is forcing them to come to China?

So you want to hold people hostage, by gun point and force them to pay?


This is mob action at it's finest

No, I want the American people to hold the corporations at gun point, rhetorically speaking at least. Corporations won't be forced into conformity by this idea or any other forceful ideas.

Are you so fkng stupid that you don't understand how capitalism works?

China didn't force corporate America to go to China to produce goods that are sold back to Americans in Walmart stores!

When will you people ever stop denying the facts on America's corporate greed that's shit on the American people's wellbeing?

 

[Tommy Tainant]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

To be enforced by whom?

Dunno, there aren’t any details of the enforcement mechanisms that have been made available yet. If I had to guess, the enforcement mechanisms will center around tariffs.

Does national sovereignty mean anything at all to you?

Where is the problem with “sovereignty” here? This is something that nations are free to agree to or not agree to, not to mention each nation still retains direct authority over its own tax code. It’s no more a violation of sovereignty than an international arms limitation treaty.

God damn bro they are making up a number out of thin air, that you must pay

Are you referring to the proposed 15% minimum GMT? If so, are you aware that’s significantly LOWER than the current U.S. corporate tax rate? Are you also aware that there is a possibility that U.S. citizens will pay LESS in taxes and retain MORE domestic business activity from this proposal. Again, why do you want to pay taxes to subsidize foreign countries?

You don't see anything wrong with this?

I see all kinds of potential things wrong with it, however I see A LOT more wrong with the current system of exploitation being practiced by large multinational corporations.

No Dim proposal will ever lower the amount we pay in taxes. Who are you trying to kid?

If everybody paid their fair share then the individual burden would be less.

 

[kaz]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

To be enforced by whom?

Dunno, there aren’t any details of the enforcement mechanisms that have been made available yet. If I had to guess, the enforcement mechanisms will center around tariffs.

Does national sovereignty mean anything at all to you?

Where is the problem with “sovereignty” here? This is something that nations are free to agree to or not agree to, not to mention each nation still retains direct authority over its own tax code. It’s no more a violation of sovereignty than an international arms limitation treaty.

God damn bro they are making up a number out of thin air, that you must pay

Are you referring to the proposed 15% minimum GMT? If so, are you aware that’s significantly LOWER than the current U.S. corporate tax rate? Are you also aware that there is a possibility that U.S. citizens will pay LESS in taxes and retain MORE domestic business activity from this proposal. Again, why do you want to pay taxes to subsidize foreign countries?

You don't see anything wrong with this?

I see all kinds of potential things wrong with it, however I see A LOT more wrong with the current system of exploitation being practiced by large multinational corporations.

Killing investment is a great way to increase jobs. I see why you like it

 

[Donald H]

Do America's corporate leaders care about their country and their country's working class people?

Or do they only care about finding the most lucrative marketplace and the lowest wages they can pay, that brings the highest profits?

Sooner or later the American people are going to have to come to an understanding of how capitalism works.

Canada ranked #1 country in the world for Quality of Life | News

For the fifth year in a row, Canada is ranked the #1 country in the world in 2020 for Quality of Life, according to a global ranking from US News.

dailyhive.com

Will Americans then finally understand that capitalism can't be permitted to operate unfettered by government.

I think the notion of "American business" is outdated. Pretty much every listed corporation will have an international ownership and their loyalty is to their shareholders and not the US.

The big ones, Starbucks,Mcdonalds, Amazon etc. All have international ownership and adapt to local laws.

Socially responsible democracies place restraints on capitalism Tommy.
Americans are afraid to address that fact and so are left twisting and turning in the wind.

They seem to be trying to blame China for the fkng their own corporations have rammed up their collective asses.

My advise to them is to go out to their nearest Walmart and buy some 'made in China' satisfaction!

 

[kaz]

...

"The concepts of "freedom" and "taxation" are mutually exclusive....Especially so on a global level.

You have no details, no notion for national sovereignty, yet are pimping for the most anti-liberty and sovereignty killing thing imaginable.

I was right....You're a useful idiot.

Not really.
It is taxation that can provide the things you or your corporation need or want, that can greatly increase your profit.
So taxation can improve your freedom, if done correctly.

For example, do we want public roads, schools, police, fire departments, defense, etc.,? Of course we do.
We would have less freedom without them.

View attachment 508131

There is no other means of providing reasonable transportation, education, police, fire departments, defense, etc. with out government taxation.

Without government taxation, not only would we not have gone to the Moon, but we would not have any Internet.
There is government waste and abuse, but that is a different matter.

Corporate taxes are double taxes and should be abolished. This is Democrats trying to trap US companies because your policies destroy American business, so you want to trap them here

No corporate taxes are not double taxes.
If a corporation makes tons of profits from its production, but then pays it all out as bonuses to employees, dividends to stockholders, or to make capital improvements in the company property, then it pays ZERO corporate taxes.

That you hate businesses and want a socialist state doesn't contradict that corporate taxes are double taxes on shareholders.

They clearly are. Shareholders pay both corporate taxes as well as capital gains/dividend taxes on the same money. That is double taxation

Wrong.
The corporation only pays taxes on money not dispersed to stockholders, and does not pay tax on money that is dispersed to stock holders.
Stock holders only pay taxes on money dispersed to them, not on money the corporation retains.
There is no double taxation, never has been, and that would be illegal.

What smart corporations do if they have any profits left over, is buy up as much of their own stock as possible.
That greatly increases the value of stock held by stockholders, without incurring any tax debt at all, to anyone.

You're going to continue with the canard evading that it's the investors who pay double taxes.

So your car pays your automobile property tax, not you, sure it does, comrade

 

[NightFox]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

To be enforced by whom?

Dunno, there aren’t any details of the enforcement mechanisms that have been made available yet. If I had to guess, the enforcement mechanisms will center around tariffs.

Does national sovereignty mean anything at all to you?

Where is the problem with “sovereignty” here? This is something that nations are free to agree to or not agree to, not to mention each nation still retains direct authority over its own tax code. It’s no more a violation of sovereignty than an international arms limitation treaty.

God damn bro they are making up a number out of thin air, that you must pay

Are you referring to the proposed 15% minimum GMT? If so, are you aware that’s significantly LOWER than the current U.S. corporate tax rate? Are you also aware that there is a possibility that U.S. citizens will pay LESS in taxes and retain MORE domestic business activity from this proposal. Again, why do you want to pay taxes to subsidize foreign countries?

You don't see anything wrong with this?

I see all kinds of potential things wrong with it, however I see A LOT more wrong with the current system of exploitation being practiced by large multinational corporations.

No Dim proposal will ever lower the amount we pay in taxes. Who are you trying to kid?

If everybody paid their fair share then the individual burden would be less.

Define “fair share” and who gets to decide what it is?

 

[NightFox]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

To be enforced by whom?

Dunno, there aren’t any details of the enforcement mechanisms that have been made available yet. If I had to guess, the enforcement mechanisms will center around tariffs.

Does national sovereignty mean anything at all to you?

Where is the problem with “sovereignty” here? This is something that nations are free to agree to or not agree to, not to mention each nation still retains direct authority over its own tax code. It’s no more a violation of sovereignty than an international arms limitation treaty.

God damn bro they are making up a number out of thin air, that you must pay

Are you referring to the proposed 15% minimum GMT? If so, are you aware that’s significantly LOWER than the current U.S. corporate tax rate? Are you also aware that there is a possibility that U.S. citizens will pay LESS in taxes and retain MORE domestic business activity from this proposal. Again, why do you want to pay taxes to subsidize foreign countries?

You don't see anything wrong with this?

I see all kinds of potential things wrong with it, however I see A LOT more wrong with the current system of exploitation being practiced by large multinational corporations.

Killing investment is a great way to increase jobs. I see why you like it

How does this proposal “kill investment”?

 

[bripat9643]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

To be enforced by whom?

Dunno, there aren’t any details of the enforcement mechanisms that have been made available yet. If I had to guess, the enforcement mechanisms will center around tariffs.

Does national sovereignty mean anything at all to you?

Where is the problem with “sovereignty” here? This is something that nations are free to agree to or not agree to, not to mention each nation still retains direct authority over its own tax code. It’s no more a violation of sovereignty than an international arms limitation treaty.

God damn bro they are making up a number out of thin air, that you must pay

Are you referring to the proposed 15% minimum GMT? If so, are you aware that’s significantly LOWER than the current U.S. corporate tax rate? Are you also aware that there is a possibility that U.S. citizens will pay LESS in taxes and retain MORE domestic business activity from this proposal. Again, why do you want to pay taxes to subsidize foreign countries?

You don't see anything wrong with this?

I see all kinds of potential things wrong with it, however I see A LOT more wrong with the current system of exploitation being practiced by large multinational corporations.

No Dim proposal will ever lower the amount we pay in taxes. Who are you trying to kid?

If everybody paid their fair share then the individual burden would be less.

ROFL! It will never go down, moron. The left's apetite for spending is insatiable. Biden wants to spend $6 trillion, in addition to what's already budgeted.

 

[Tommy Tainant]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

To be enforced by whom?

Dunno, there aren’t any details of the enforcement mechanisms that have been made available yet. If I had to guess, the enforcement mechanisms will center around tariffs.

Does national sovereignty mean anything at all to you?

Where is the problem with “sovereignty” here? This is something that nations are free to agree to or not agree to, not to mention each nation still retains direct authority over its own tax code. It’s no more a violation of sovereignty than an international arms limitation treaty.

God damn bro they are making up a number out of thin air, that you must pay

Are you referring to the proposed 15% minimum GMT? If so, are you aware that’s significantly LOWER than the current U.S. corporate tax rate? Are you also aware that there is a possibility that U.S. citizens will pay LESS in taxes and retain MORE domestic business activity from this proposal. Again, why do you want to pay taxes to subsidize foreign countries?

You don't see anything wrong with this?

I see all kinds of potential things wrong with it, however I see A LOT more wrong with the current system of exploitation being practiced by large multinational corporations.

No Dim proposal will ever lower the amount we pay in taxes. Who are you trying to kid?

If everybody paid their fair share then the individual burden would be less.

Define “fair share” and who gets to decide what it is?

The people eventually decide. The level of taxation is one of the policies that should differentiate political parties.

 

[bripat9643]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

To be enforced by whom?

Dunno, there aren’t any details of the enforcement mechanisms that have been made available yet. If I had to guess, the enforcement mechanisms will center around tariffs.

Does national sovereignty mean anything at all to you?

Where is the problem with “sovereignty” here? This is something that nations are free to agree to or not agree to, not to mention each nation still retains direct authority over its own tax code. It’s no more a violation of sovereignty than an international arms limitation treaty.

God damn bro they are making up a number out of thin air, that you must pay

Are you referring to the proposed 15% minimum GMT? If so, are you aware that’s significantly LOWER than the current U.S. corporate tax rate? Are you also aware that there is a possibility that U.S. citizens will pay LESS in taxes and retain MORE domestic business activity from this proposal. Again, why do you want to pay taxes to subsidize foreign countries?

You don't see anything wrong with this?

I see all kinds of potential things wrong with it, however I see A LOT more wrong with the current system of exploitation being practiced by large multinational corporations.

Killing investment is a great way to increase jobs. I see why you like it

How does this proposal “kill investment”?

Higher taxes always kill investment, moron. The money collected in additional taxes would have been invested. Even a fifth grader can understand that.

 

[Tommy Tainant]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

To be enforced by whom?

Dunno, there aren’t any details of the enforcement mechanisms that have been made available yet. If I had to guess, the enforcement mechanisms will center around tariffs.

Does national sovereignty mean anything at all to you?

Where is the problem with “sovereignty” here? This is something that nations are free to agree to or not agree to, not to mention each nation still retains direct authority over its own tax code. It’s no more a violation of sovereignty than an international arms limitation treaty.

God damn bro they are making up a number out of thin air, that you must pay

Are you referring to the proposed 15% minimum GMT? If so, are you aware that’s significantly LOWER than the current U.S. corporate tax rate? Are you also aware that there is a possibility that U.S. citizens will pay LESS in taxes and retain MORE domestic business activity from this proposal. Again, why do you want to pay taxes to subsidize foreign countries?

You don't see anything wrong with this?

I see all kinds of potential things wrong with it, however I see A LOT more wrong with the current system of exploitation being practiced by large multinational corporations.

No Dim proposal will ever lower the amount we pay in taxes. Who are you trying to kid?

If everybody paid their fair share then the individual burden would be less.

ROFL! It will never go down, moron. The left's apetite for spending is insatiable. Biden wants to spend $6 trillion, in addition to what's already budgeted.

Well I dont know about the US but in the UK tax levels change all the time. Up and down.

 

[bripat9643]

Source: CNBC.COM
Link to story: 130 nations agree to support U.S. proposal for global minimum tax on corporations

“WASHINGTON - Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations, part of a broader agreement to overhaul international tax rules.

If widely enacted, the GMT would effectively end the practice of global corporations seeking out low-tax jurisdictions like Ireland and the British Virgin Islands to move their headquarters to, even though their customers, operations and executives are located elsewhere.

“For decades, the United States has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. The result was a global race to the bottom: Who could lower their corporate rate further and faster? No nation has won this race,” said Yellen in a statement on the accord.

“Today’s agreement by 130 countries representing more than 90 percent of global GDP is a clear sign: the race to the bottom is one step closer to coming to an end,” Yellen said.

The deal also reportedly includes a framework to eliminate digital services taxes, which targeted the biggest American tech companies.

In their place, officials agreed to a new tax plan that would be linked to the places where multinationals are actually doing business, rather than where they are headquartered”

Interesting, I’m surprised the GMT proposal is moving this quickly after it was endorsed by the G-7 just a short time ago, looks like that now 90% of the worlds GDP has agreed to it in principle. Frankly I didn’t really believe it would get this far given all the hurdles. The agreement on digital service taxes is also an important plus for the American Tech Sector, surprised the EU is going along with it.

This will be a big foreign policy win for the Biden Administration if it does actually come to fruition, of course there is still a long way to go.

To be enforced by whom?

Dunno, there aren’t any details of the enforcement mechanisms that have been made available yet. If I had to guess, the enforcement mechanisms will center around tariffs.

Does national sovereignty mean anything at all to you?

Where is the problem with “sovereignty” here? This is something that nations are free to agree to or not agree to, not to mention each nation still retains direct authority over its own tax code. It’s no more a violation of sovereignty than an international arms limitation treaty.

God damn bro they are making up a number out of thin air, that you must pay

Are you referring to the proposed 15% minimum GMT? If so, are you aware that’s significantly LOWER than the current U.S. corporate tax rate? Are you also aware that there is a possibility that U.S. citizens will pay LESS in taxes and retain MORE domestic business activity from this proposal. Again, why do you want to pay taxes to subsidize foreign countries?

You don't see anything wrong with this?

I see all kinds of potential things wrong with it, however I see A LOT more wrong with the current system of exploitation being practiced by large multinational corporations.

No Dim proposal will ever lower the amount we pay in taxes. Who are you trying to kid?

If everybody paid their fair share then the individual burden would be less.

Define “fair share” and who gets to decide what it is?

The people eventually decide. The level of taxation is one of the policies that should differentiate political parties.

Yes we know. Democrats want taxes to be set at infinity.