China to be exempt from Bidens 15% world tax

[Fort Fun Indiana]

Beijing Biden sparing China?????

Good god would you morons read something once in a while...

 

[Fort Fun Indiana]

This is how the alternate universe "news" operates: It begins with some facts, and then twists them into pretzels. Biden didn't exempt China, China is expected to apply for exemption, and it's gonna cause a shit storm:

China’s Likely Bid for Tax Exemption Poses Risk to Global Accord

Rich nations are bracing for China to seek exemptions from a global minimum corporate tax, a potential stumbling block for governments racing to reach wider international consensus on the plan next month.

www.bloomberg.com

But the rubes in the alternate universe just run with whatever they're told in their world. Arrogant ignorance. What a sad situation.

And, you're okay with this "World Tax" bit of authoritarian horseshit?

I doubt it, but I haven't seen the details.

Details are helpful for some of us.

Yes. They are.

But, as a matter of principle, you don't support the U.S. paying a 15% "world tax" to.....anyone, right?

Bootney, it’s NOT a “world tax”, the proposal on the table is for a global MINIMUM CORPORATE INCOME TAX, that is a floor that all participating countries agree to in order to stop the race to bottom, whereby International Corporations move production offshore to take advantage of differential tax rates.

Right now, we’re seeing expatriation of profits and production moving offshore because of it, in the meantime we here in the U.S. get stuck paying the bills for OTHER COUNTRIES (yes Ireland I’m looking at YOU) because we’re in effect subsidizing their corporate taxes all we get out of the deal are jobs moving overseas. It’s for all intents and purposes artificially manipulating trade via the tax code.

IMHO the idea has merit and is worth exploring, however it’s a VERY tall mountain to climb because if you get one or more major economies that don’t go along the whole notion won’t work and then there’s the whole problem of enforcement, even if you get all the major economies to go along with it.

Personally I don’t trust politicians to do the right thing, however that doesn’t make the concept a bad one.

It's a wolf in sheep's clothing. It's ultimately a globalist power grab!

You've said so in so many words.

We live in a global economy, that's reality, do you really want to subsidize other countries that in effect cheat by allowing multi-national corporations to leverage differential tax rates? It kind of screws over American Businesses that operate solely on U.S. soil, don't you think? It's also taking money right out your pocket to subsidize the tax rates of other countries, that alright with you?

There's no power grab here, there's the U.S. trying to set a floor by which all of our trading partners agree to a more level playing field for International Trade.

I would think that all the Trump supporters would be right on board with this because this is EXACTLY the kind of unfair trade practice that Trump has been harping on since the 1980's.

The obvious outcome is a global taxing entity that will be even more corrupt than the United Nations.

That’s not the proposal on the table, go back and read what I wrote AGAIN. The individual nations will remain their own taxing entities IF (BIG IF) this becomes a reality, they’ll just be restricted to a MINIMUM corporate tax rate, which if the proposed rate is adopted is actually LOWER than what the U.S. currently has.

Yes, but not lower than every country. As it turns out, everyone knows this already.

 

[Mac-7]

I’ll just be honest, regardless of the politics.

Honest after you wet a finger to see which way the wind is blowing

 

[NightFox]

This is how the alternate universe "news" operates: It begins with some facts, and then twists them into pretzels. Biden didn't exempt China, China is expected to apply for exemption, and it's gonna cause a shit storm:

China’s Likely Bid for Tax Exemption Poses Risk to Global Accord

Rich nations are bracing for China to seek exemptions from a global minimum corporate tax, a potential stumbling block for governments racing to reach wider international consensus on the plan next month.

www.bloomberg.com

But the rubes in the alternate universe just run with whatever they're told in their world. Arrogant ignorance. What a sad situation.

And, you're okay with this "World Tax" bit of authoritarian horseshit?

I doubt it, but I haven't seen the details.

Details are helpful for some of us.

Yes. They are.

But, as a matter of principle, you don't support the U.S. paying a 15% "world tax" to.....anyone, right?

Bootney, it’s NOT a “world tax”, the proposal on the table is for a global MINIMUM CORPORATE INCOME TAX, that is a floor that all participating countries agree to in order to stop the race to bottom, whereby International Corporations move production offshore to take advantage of differential tax rates.

Right now, we’re seeing expatriation of profits and production moving offshore because of it, in the meantime we here in the U.S. get stuck paying the bills for OTHER COUNTRIES (yes Ireland I’m looking at YOU) because we’re in effect subsidizing their corporate taxes all we get out of the deal are jobs moving overseas. It’s for all intents and purposes artificially manipulating trade via the tax code.

IMHO the idea has merit and is worth exploring, however it’s a VERY tall mountain to climb because if you get one or more major economies that don’t go along the whole notion won’t work and then there’s the whole problem of enforcement, even if you get all the major economies to go along with it.

Personally I don’t trust politicians to do the right thing, however that doesn’t make the concept a bad one.

It's a wolf in sheep's clothing. It's ultimately a globalist power grab!

You've said so in so many words.

We live in a global economy, that's reality, do you really want to subsidize other countries that in effect cheat by allowing multi-national corporations to leverage differential tax rates? It kind of screws over American Businesses that operate solely on U.S. soil, don't you think? It's also taking money right out your pocket to subsidize the tax rates of other countries, that alright with you?

There's no power grab here, there's the U.S. trying to set a floor by which all of our trading partners agree to a more level playing field for International Trade.

I would think that all the Trump supporters would be right on board with this because this is EXACTLY the kind of unfair trade practice that Trump has been harping on since the 1980's.

The obvious outcome is a global taxing entity that will be even more corrupt than the United Nations.

That’s not the proposal on the table, go back and read what I wrote AGAIN. The individual nations will remain their own taxing entities IF (BIG IF) this becomes a reality, they’ll just be restricted to a MINIMUM corporate tax rate, which if the proposed rate is adopted is actually LOWER than what the U.S. currently has.

Yes, but not lower than every country. As it turns out, everyone knows this already.

No, if you read the replies in this thread everybody DOES’NT know that, perhaps you should scroll back and do some reading, pay particular attention to the post where I explained why this isn’t a “world tax”.

 

[Mac1958]

I’ll just be honest, regardless of the politics.

Honest after you wet a finger to see which way the wind is blowing

There is no wind. That is only in your mind.

I'll think for myself. You wouldn't understand, Trumpster.

 

[my2¢]

I'm all for corporations paying a tax based on where geographically they make their income, not where their headquarters are physically located.

 

[Claudette]

The World Tax is bullshittery!!!

You bet it is and I doubt any country will be paying it. Biden is a stuttering fuck idiot.

 

[wamose]

Biden and his mentor, Obama, gave China an exemption on the Paris climate accord so I wouldn't be surprised if our President's head is still embedded in Red China's ass. It sucks to have an America last President.

 

[NightFox]

The World Tax is bullshittery!!!

You bet it is and I doubt any country will be paying it. Biden is a stuttering fuck idiot.

It’s not a new “world tax” Claudette it’s a proposal to agree on a global minimum corporate tax, it would in theory BENEFIT The U.S. , American Business and American citizens by curtailing the practice of other countries using their domestic tax codes to lure away jobs and investment from our shores.

 

[LeftofLeft]

The Global Left will never hold China accountable for anything which is why I consider Climate Change initiatives to be nothing but mediums to hinder the US economically and embolden China.

 

[Mac-7]

think for myself. You wouldn't understand, Trumpster.

You emotionally reacted to donald trump’s personality and blindly voted for joe biden

Now you have to hunker down and hold your nose for four years till everyone forgets you voted for biden and harris

 

[NightFox]

I'm all for corporations paying a tax based on where geographically they make their income, not where their headquarters are physically located.

Great point, that's the another practice this proposal is attempting to curtail, businesses setting up Headquarters in tax havens (e.g. Cayman Islands), in order to avoid paying taxes in the countries where they do their principal business. It's freeloading off the backs of the tax paying citizens and business in those countries.

 

[Mac-7]

IMHO the idea has merit and is worth exploring, however it’s a VERY tall mountain to climb because if you get one or more major economies that don’t go along the whole notion won’t work and then there’s the whole problem of enforcement, even if you get all the major economies to go along with it.

Yes indeed

China will cheat and yhen other nations will follow

A tax on corporations is really a tax on the customers of those corporations

The best way to end offshoring to china is with a zero corporate tax

Then china cant cheat

 

[NightFox]

IMHO the idea has merit and is worth exploring, however it’s a VERY tall mountain to climb because if you get one or more major economies that don’t go along the whole notion won’t work and then there’s the whole problem of enforcement, even if you get all the major economies to go along with it.

Yes indeed

China will cheat and yhen other nations will follow

That remains to be seen, however the possibility that China will "cheat" doesn't merit disregarding the proposal out of hand, since under the status quo there's a whole laundry list of countries that are in effect "cheating" by using their corporate tax codes to artificially manipulate trade and investment flows.

A tax on corporations is really a tax on the customers of those corporations

The best way to end offshoring to china is with a zero corporate tax

Then china cant cheat

That's irrelevant to the proposal on the table, Corporate Taxes are a reality regardless of the fact that that the whole concept of corporate taxes is flawed. Given that, do you want to continue to allow other countries to in effect CHEAT the citizens and business in the United States by facilitating tax avoidance by multi-nationals to taxes that WE (American citizens and American Businesses) have to pay along with using their domestic tax code to lure jobs and investment from our shores?

 

[Mac-7]

IMHO the idea has merit and is worth exploring, however it’s a VERY tall mountain to climb because if you get one or more major economies that don’t go along the whole notion won’t work and then there’s the whole problem of enforcement, even if you get all the major economies to go along with it.

Yes indeed

China will cheat and yhen other nations will follow

That remains to be seen, however the possibility that China will "cheat" doesn't merit disregarding the proposal out of hand, since under the status quo there's a whole laundry list of countries that are in effect "cheating" by using their corporate tax codes to artificially manipulate trade and investment flows.

A tax on corporations is really a tax on the customers of those corporations

The best way to end offshoring to china is with a zero corporate tax

Then china cant cheat

That's irrelevant to the proposal on the table, Corporate Taxes are a reality regardless of the fact that that the whole concept of corporate taxes is flawed. Given that, do you want to continue to allow other countries to in effect CHEAT the citizens and business in the United States by facilitating tax avoidance by multi-nationals to taxes that WE (American citizens and American Businesses) have to pay along with using their domestic tax code to lure jobs and investment from our shores?

If the US corporate tax rate is reduced to zero then other nations cannot cheat unless they are willing to pay corporations to remain in their country

 

[NightFox]

IMHO the idea has merit and is worth exploring, however it’s a VERY tall mountain to climb because if you get one or more major economies that don’t go along the whole notion won’t work and then there’s the whole problem of enforcement, even if you get all the major economies to go along with it.

Yes indeed

China will cheat and yhen other nations will follow

That remains to be seen, however the possibility that China will "cheat" doesn't merit disregarding the proposal out of hand, since under the status quo there's a whole laundry list of countries that are in effect "cheating" by using their corporate tax codes to artificially manipulate trade and investment flows.

A tax on corporations is really a tax on the customers of those corporations

The best way to end offshoring to china is with a zero corporate tax

Then china cant cheat

That's irrelevant to the proposal on the table, Corporate Taxes are a reality regardless of the fact that that the whole concept of corporate taxes is flawed. Given that, do you want to continue to allow other countries to in effect CHEAT the citizens and business in the United States by facilitating tax avoidance by multi-nationals to taxes that WE (American citizens and American Businesses) have to pay along with using their domestic tax code to lure jobs and investment from our shores?

If the US corporate tax rate is reduced to zero then other nations cannot cheat unless they are willing to pay corporations to remain in their country

If I had a magic wand that could reduce the US Corporate Tax Rate to Zero, I would use it, however I don't and there's no indication that it will EVER happen, in fact it appears that the chances are pretty good that the US Corporate Tax Rate may be going UP.

So, let's focus on current reality and leave the wishful thinking for another discussion, K?

 

[Mac-7]

, in fact it appears that the chances are pretty good that the US Corporate Tax Rate may be going UP.

Only if we let liberals make that decision

All they care about is getting more money in their hands for government spending

 

[TNHarley]

;I wonder if it has dawned on *biden that all countries don't belong to the g7

Biden's big day: 15% global tax exempting CCP, free vaccines, pricey epipens

Joe Biden, the America Last president, who is compromised by the Chinese Communists, agreed to a 15% minimum global tax amid talks of exemptions for China. They are also talking about exemptions for certain corporations — undoubtedly the ones who do what they want. At the same time, Biden’s...

www.independentsentinel.com

Of course, thats a lie. Find better sources man.

 

[NightFox]

, in fact it appears that the chances are pretty good that the US Corporate Tax Rate may be going UP.

Only if we let liberals make that decision

All they care about is getting more money in their hands for government spending

Again, you're engaging in wishful thinking that isn't germane to the proposal that's the core topic of this thread.

 

[BluesLegend]

;I wonder if it has dawned on *biden that all countries don't belong to the g7

China is exempt, shocker there. In related news Biden's home state of Delaware announces they will pass his corporate tax rate increase on to the poor and middle class via utility bills. Someone get this clown Biden under control what a blithering idiot.