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

[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.

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

The spending never goes down. Does it?

 

[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

How does this proposal “kill investment”?

OK, think about it.

A company has say a profit of $100 million. They plan to pay their shareholders $50 million in dividends. That means they still have a $50 million profit to deal with.

They don't want to pay taxes on $50 million. Let's say their tax rate is 20%, so they would pay $10 million in taxes.

They have already calculated all their taxes and they can't get out of paying less unless they reduce profit and the only way to do that is spend the money, or at least some of it, the part they don't want to pay more taxes on.

OK, now they don't want to throw the money away, so what is the other option? To INVEST the money. That means there are higher future profits by investing in positive NPV profits.

Frankly it's pretty obvious, I can't believe you're creating threads and leading discussions on this without even knowing the basics about how companies operate

 

[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?

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

We do? I must have missed all those times government asked for my input when politicians, bureaucrats and lobbyists where writing our tax code.

I guess I need to check my email more often.

 

[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.

We do? I must have missed all those times government asked for my input when politicians, bureaucrats and lobbyists where writing our tax code.

I guess I need to check my email more often.

If they put taxes up for a popular vote, we would all pay zero.

 

[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.

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.

The spending never goes down. Does it?

Nope.

Democrats: We have too high a deficit, we need to raise taxes

Democrats: {raise taxes}

Democrats: Wow, more money. What will we do! Spend it!!!!!

Start over ...

 

[Votto]

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.

Not true, money is free

Work is slavery.

Just ask the typical democrat.

 

[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”?

OK, think about it.

A company has say a profit of $100 million. They plan to pay their shareholders $50 million. That means they have a $50 million profit.

They don't want to pay taxes on $50 million. Let's say their tax rate is 20%, so they would pay $10 million in taxes.

They have already calculated all their taxes and they can't get out of paying less unless they reduce profit and the only way to do that is spend the money.

OK, now they don't want to throw the money away, so what is the other option? To INVEST the money. That means there are higher future profits by investing in positive NPV profits.

Frankly it's pretty obvious, I can't believe you're creating threads and leading discussions on this without even knowing the basics about how companies operate

How does the practice of multinationals making profit domestically and then expatriating those profits to foreign tax havens factor into your investment equation?

 

[kaz]

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”?

OK, think about it.

A company has say a profit of $100 million. They plan to pay their shareholders $50 million. That means they have a $50 million profit.

They don't want to pay taxes on $50 million. Let's say their tax rate is 20%, so they would pay $10 million in taxes.

They have already calculated all their taxes and they can't get out of paying less unless they reduce profit and the only way to do that is spend the money.

OK, now they don't want to throw the money away, so what is the other option? To INVEST the money. That means there are higher future profits by investing in positive NPV profits.

Frankly it's pretty obvious, I can't believe you're creating threads and leading discussions on this without even knowing the basics about how companies operate

How does the practice of multinationals making profit domestically and then expatriating those profits to foreign tax havens factor into your investment equation?

Corporate taxes should be zero. Investors pay taxes now on their profits. Either dividend taxes (distributed profits) or capital gains taxes (retained profits).

The reason companies go to "tax havens" is to escape belligerent government.

I always find people like you who think you're an expert in economics and finance based on nothing fasinating. You have no business education or experience, yet you know everything about everything.

Do you talk to doctors this way about medicine? Do you give them what fer based on your utter lack of medical knowledge?

 

[whoisit]

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.

More proof 'liberalism is a mental disorder'! They want to destroy the very suckers supporting their basic survival. But no worry those in the OutHouse are beating them to it.

 

[Donald H]

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”?

OK, think about it.

A company has say a profit of $100 million. They plan to pay their shareholders $50 million. That means they have a $50 million profit.

They don't want to pay taxes on $50 million. Let's say their tax rate is 20%, so they would pay $10 million in taxes.

They have already calculated all their taxes and they can't get out of paying less unless they reduce profit and the only way to do that is spend the money.

OK, now they don't want to throw the money away, so what is the other option? To INVEST the money. That means there are higher future profits by investing in positive NPV profits.

Frankly it's pretty obvious, I can't believe you're creating threads and leading discussions on this without even knowing the basics about how companies operate

How does the practice of multinationals making profit domestically and then expatriating those profits to foreign tax havens factor into your investment equation?

Corporate taxes should be zero. Investors pay taxes now on their profits. Either dividend taxes (distributed profits) or capital gains taxes (retained profits).

Corporate taxes are money taken out of the shareholders' pockets. Those taxes are taken before the money gets to the shareholders's pockets, but amounts to the same.

How about being fair and stopping taxation of everybody?

It would work well for the first month until the bills start coming in.

All of which is a silly joke anyway! Hahahaha!

Who's to blame for America's corporations taking their business to China where the markets are the most lucrative? Should government have interfered and demanded that corporations stay in America where they would have had to employ Americans to manufacture made in America goods?

Had government done that, would that be 'socialist' interference in capitalism?

Capitalism grants corporations the right to take their business anywhere they choose!

 

[kaz]

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”?

OK, think about it.

A company has say a profit of $100 million. They plan to pay their shareholders $50 million. That means they have a $50 million profit.

They don't want to pay taxes on $50 million. Let's say their tax rate is 20%, so they would pay $10 million in taxes.

They have already calculated all their taxes and they can't get out of paying less unless they reduce profit and the only way to do that is spend the money.

OK, now they don't want to throw the money away, so what is the other option? To INVEST the money. That means there are higher future profits by investing in positive NPV profits.

Frankly it's pretty obvious, I can't believe you're creating threads and leading discussions on this without even knowing the basics about how companies operate

How does the practice of multinationals making profit domestically and then expatriating those profits to foreign tax havens factor into your investment equation?

Corporate taxes should be zero. Investors pay taxes now on their profits. Either dividend taxes (distributed profits) or capital gains taxes (retained profits).

Corporate taxes are money taken out of the shareholders' pockets. Those taxes are taken before the money gets to the shareholders's pockets, but amounts to the same.

How about being fair and stopping taxation of everybody?

It would work well for the first month until the bills start coming in.

All of which is a silly joke anyway! Hahahaha!

Who's to blame for America's corporations taking their business to China where the markets are the most lucrative? Should government have interfered and demanded that corporations stay in America where they would have had to employ Americans to manufacture made in America goods?

Had government done that, would that be 'socialist' interference in capitalism?

Capitalism grants corporations the right to take their business anywhere they choose!

All taxes are in the end a tax on economic activity. The fair tax would be a simple, flat tax that replaces all other taxes with a simple fat tax on the source of all taxes.

That would eliminate all the redundant taxes we charge on the same money now, make everyone taxpayers, simplify life and minimize disincentives across the board

 

[Donald H]

American corporations have a right to take their business to any country they choose, that offers the highest profits for their shareholders.

If that happens to be China where the biggest market opportunities exist and low wages are taken advantage of then that's the corporatists' democratic right!

To interfere with the corporations' rights is equivalent to communism!

Or in other words, fuk American workers and their illusions of a fair living wage! Who do they think they are anyway?

-------------------------------------------------

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

Other considerations are taken into account in the world's 'other' democracies, but they're not America.

 

[kaz]

American corporations have a right to take their business to any country they choose, that offers the highest profits for their shareholders.

If that happens to be China where the biggest market opportunities exist and low wages are taken advantage of then that's the corporatists' democratic right!

To interfere with the corporations' rights is equivalent to communism!

Or in other words, fuk American workers and their illusions of a fair living wage! Who do they think they are anyway?

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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

Other considerations are taken into account in the world's 'other' democracies, but they're not America.

Or government could stop fucking companies and making them want to run away.

I know, I know, now I'm being silly, they aren't going to do that

 

[NightFox]

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”?

OK, think about it.

A company has say a profit of $100 million. They plan to pay their shareholders $50 million. That means they have a $50 million profit.

They don't want to pay taxes on $50 million. Let's say their tax rate is 20%, so they would pay $10 million in taxes.

They have already calculated all their taxes and they can't get out of paying less unless they reduce profit and the only way to do that is spend the money.

OK, now they don't want to throw the money away, so what is the other option? To INVEST the money. That means there are higher future profits by investing in positive NPV profits.

Frankly it's pretty obvious, I can't believe you're creating threads and leading discussions on this without even knowing the basics about how companies operate

How does the practice of multinationals making profit domestically and then expatriating those profits to foreign tax havens factor into your investment equation?

Corporate taxes should be zero. Investors pay taxes now on their profits. Either dividend taxes (distributed profits) or capital gains taxes (retained profits).

I agree, the concept of income taxes is second only to fiat currency in terms of the most heinous, exploitive and invasive practices ever invented by the institution of the state. However in order to make them zero you would have to eliminate ALL income taxes since how can you justify levying taxes on the incomes of one group (wage earners) while not doing so on another group (businesses)? Do you see that happening any time soon? I don't. Thus in the meantime I'll consider a proposal that has the potential to materially benefit me and my fellow citizens at the expense of foreigners using differential tax rates in order to foster capital outflows that benefit THEIR citizens. As a former President of the blonde persuasion once said "AMERICA FIRST", foreigners attempting to use their domestic tax code to manipulate comparative advantage come in a DISTANT second in my book, how about yours?

The reason companies go to "tax havens" is to escape belligerent government.

LOL, really? doesn't have anything to do with privatizing profits and socializing costs? If they're going there to escape "belligerent government" why do they choose to generate profits in markets controlled by those "belligerent governments"?

I always find people like you who think you're an expert in economics and finance based on nothing fasinating. You have no business education or experience, yet you know everything about everything.

LOL, talk about PROJECTION. You're the one that doesn't appear to understand the basics of what you're arguing against, which explains your penchant for attempting to deflect any question that would cause you to actually defend your own argument.

Do you talk to doctors this way about medicine? Do you give them what fer based on your utter lack of medical knowledge?

ROFLMAO! so you're a doctor now?

You disappoint me kaz, I thought you capable of formulating an argument based on reason and evidence, not this hodgepodge of non-sequitur fluff mixed with invective, oh well.

 

[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.

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

I doubt that very much. you seem to be very agitated about this.

 

[Rigby5]

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?

The corporations moving to China are foolish.
Once the Chinese know the trade secrets, they will create better and cheaper competition because they won't have stockholder overhead or as high of labor costs.

Gee, you actually 'get it'!
But do you really think the corporations moving to China are 'foolish'??

Is it foolish for a corporation to seek out the most lucrative markets and marketplace?

Why Rigby, the corporations have already set up Walmarts across America in which to retail the goods they have made in China!

It is foolish in the case of high tech to move to China, because although they do provide lower labor costs, you will be quickly run out of business from the Chinese competition made with your own stolen technology.
China is more like a gang than a country.

Walmarts should be tariffed up to equal prices of US labor costs.

 

[Rigby5]

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


You don't see anything wrong with this?

No, they are making up a % that everyone must equally pay.
And that is no problem for US companies, because we already have high corporate overhead and high corporate tax rates.
We would benefit.

 

[bripat9643]

The spending never goes down. Does it?

Nope.

Democrats: We have too high a deficit, we need to raise taxes

Democrats: {raise taxes}

Democrats: Wow, more money. What will we do! Spend it!!!!!

Start over ...

They spend the new revenue long before it's even approved..

 

[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.

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.

You seem to be very confused about taxation and its effects.

A tax like this will actually increase investment because corporations would rather spend money on their company than pay it in taxes. Any management that didnt feel like that would not be in place for long.

So the money gets invested in R and D or new plant or refurbs or more people. Its all good as it generates growth in the economy.

Do you understand this or shall I try and simplify it for you ?

 

[Rigby5]

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?

The corporations moving to China are foolish.
Once the Chinese know the trade secrets, they will create better and cheaper competition because they won't have stockholder overhead or as high of labor costs.

Gee, you actually 'get it'!
But do you really think the corporations moving to China are 'foolish'??

Is it foolish for a corporation to seek out the most lucrative markets and marketplace?

Why Rigby, the corporations have already set up Walmarts across America in which to retail the goods they have made in China!

Yep. The problem is government policies. Rigby5 supports the Biden policy to continue to punish US businesses and block their escape route. Fixing the problem is to Biden/Rigby5 not an option.

But businesses are smarter than politicians. We always find a way. Which is why they are trying to stop us now and why it will yet again fail. The more and more Democrats become like Atlas Shrugged is amazing. Ayn Rand described the cabal of Joe, Nancy and Chuck perfectly.

Of course no country is going to SAY they will defy the US. But this is a policy where we need them to sacrifice for our own good, and no one does that. Especially for someone as weak as Joe Biden

That makes no sense.
The "escape route" you are talking about is moving offshore, and traditionally that is not only bad, but has always been discouraged by tariffs.
And offshoring also is bad for any company, because once they setup in China, eventually China will take them over.