Janet Yellen to call for global minimum tax rate as Treasury Secretary

Janet Yellen to call for global minimum tax rate as Treasury Secretary

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  1. TBH, this is just highlighting the dystopia that we are gradually heading towards… This feels like it’s entirely too “ideological”

    U.S. treasury secretary is now calling for “global minimum tax rate.” I honestly don’t think that’s going to work. Stop millionaires from leaving the U.S.? They quite literally have 230 some-odd choices in nations they can run to that won’t tax them to death.

    This is kind of like trying to force countries to eat a certain way. Who would comply?

  2. Lol, would be far better to get agreement on a global minimum wage. This is just the US realising that it is going to lose a lot of business overseas when it tries to tax its companies hard. There will be a lot of promises and little actual action. I don’t see anyone crying for poor old usa. Tough shit basically, you’ve done fucking well controlling the global reserve and with maniac like control of global finance, particularly banks.

  3. Oh, the irony!

    > Together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field

    The U.S. flexes its financial might in order to promote what it calls “a more level playing field”.

    What it is really doing is telling countries that they must make sacrifices so that the U.S. can manage its burgeoning debt.

  4. Won’t work. They can raise taxes in America and maybe convince a few other countries to do the same, but countries who decide they want money, talent, entrepreneurs, and innovation will just say no thanks we’ll open our doors to your best brightest and richest.

  5. The issue here isn’t convincing other nations to adjust their Corp tax rate a few % so everyone is in alignment, it’s to convince the nations with zero Corp tax rate they need to increase their tax rate. I can see a lot of them saying yeah nah.

  6. Higher taxes on big corpos is great, higher taxes on SMBs is not. Unless this sort of thing is explicitly executed on a sliding scale and includes additional enforcement mechanisms for the biggest companies, I am against it.

  7. I agree, tax tf out of big corpos that pay less taxes than the average citizen in any country. Fuck good fuck em long fuck em hard. Also a lambo for me would be nice.

  8. Forgive me for being stupid, what would stop all companies in the world from faising their prices over night to cover a bit of the taxes, resulting in inflation over night?

  9. This is a natural step in socialism. Once people walk out of their scheme, the socialist has to turn evil, lying, building walls, pointing guns at them etc to try to force them into it.

    At that point there’s either a war, where the socialist is killed, or the socialist succeeds, creates a totalitarian society, and large numbers of people simply stop producing, quitting their jobs or only pretending to work since they are no longer paid for doing it properly.

    The socialist society then crumbles to a hellhole where people starve and wait in line hours for even the most basic goods, and spend most of their time trying to escape. The dictator then holes up in a mansion, importing goods from free countries for themselves, surrounded by armed soldiers, until they are killed in a revolution or die and their child takes over and perpetuates it or finally gives up on the charade.

  10. tldr; US Treasury Secretary Janet Yellen will use her first major address as Treasury Secretary to argue for a global minimum corporate tax rate, as she makes the case for President Biden’s plan to raise U.S. corporate taxes to fund his $2 trillion+ infrastructure plan. Convincing other countries to impose global minimum tax would reduce the likelihood of companies relocating offshore, as Biden seeks to increase the corporate rate from 21% to 28%.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*



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