Second Big Name in Biden Administration Backs a Global Tax

The Biden administration affirmed its support for what’s known as a global minimum tax on Sunday as part of its push to make corporations shell out more in taxes.

Last month, Treasury Secretary Janet Yellen said it was time to end “a 30-year race to the bottom on corporate tax rates” and establish a global tax system so corporations could not find a tax haven anywhere in the world.

On Sunday, Council of Economic Advisers chair Cecilia Rouse extolled the virtues of the plan in the context of paying for President Joe Biden’s domestic spending.

“The idea is to make sure that corporations are paying their fair share, to button up some of the loopholes, which have meant more corporations were actually putting more money offshore – off of U.S. soil – and having a global minimum tax so that we’re working with the rest of our trading partners, so that we’re working with the rest of the world so that corporations are paying their fair share worldwide,” Rouse said during an interview on “Fox News Sunday.”

“President Biden is really saying, ‘Look, everybody should pay their fair share,'” she said, according to Fox News. “Yes, internationally we don’t want to be disadvantaged, so he’s also working with other countries so that we have a minimum tax internationally so there’s not a race to the bottom.”


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The world economy is going to crash; and all these Globalist Elites are going to suddenly discover...that without people actually developing, manufacturing and buying product, they have nothing to sell, ship or manipulate, and no income or wealth.

They only reason they want a global tax is because the know if they bump up corporate tax, big companies will take their head offices to a more favorable tax regime

vege57 wrote:They only reason they want a global tax is because the know if they bump up corporate tax, big companies will take their head offices to a more favorable tax regime

That's their thinking.

So, with no survival route...what do they think businesses are going to do? Operate at a loss?

THEY. CLOSE. DOWN!

Global depression. Wealth destruction writ large.

Casey Jones wrote:

vege57 wrote:They only reason they want a global tax is because the know if they bump up corporate tax, big companies will take their head offices to a more favorable tax regime

That's their thinking.

So, with no survival route...what do they think businesses are going to do?  Operate at a loss?

THEY.   CLOSE.   DOWN!

Global depression.  Wealth destruction writ large.

They will shift house and pay their corporate tax in a different jurisdiction , They will effectively become say, Dutch corporations instead of American. for the purposes of their cooperate tax

vege57 wrote:They only reason they want a global tax is because the know if they bump up corporate tax, big companies will take their head offices to a more favorable tax regime

That's it. I'm moving to Mars.

Casey Jones wrote:

vege57 wrote:They only reason they want a global tax is because the know if they bump up corporate tax, big companies will take their head offices to a more favorable tax regime

That's their thinking.

So, with no survival route...what do they think businesses are going to do?  Operate at a loss?

THEY.   CLOSE.   DOWN!

Global depression.  Wealth destruction writ large.

As an example France tried to introduce what amounted to a wealth tax


""rançois Hollande’s unpopular tax changes that imposed a 75% rate on earnings above €1m (£780,000) will quietly disappear into the history books from Thursday.

The French socialist president announced plans for the controversial measure during his 2012 election campaign as a means of forcing the wealthiest to help dig the country out of economic crisis.

Although supported by the left, the reform sparked accusations of an anti-business agenda. After the “supertax” was announced in September 2012 the government was accused of shooting itself in the foot by risking an exodus of high-profile personalities. Business leaders expressed fears that investors would pull out of France.

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France’s richest man, Bernard Arnault, the chief executive of luxury group LVMH, took out Belgian nationality, and the actor Gérard Depardieu also moved across the border to Belgium before obtaining Russian citizenship.

High-earning French footballers threatened strike action, while league bosses warned they would no longer be able to attract world class players.

A majority of French taxpayers disapproved of the 75% rate, although polls showed that six out of 10 voters were in favour of raising income taxes on the wealthy.

Despite the backlash Hollande clung to the principle of the supertax even after it was dismissed by the country’s highest court, fearing a revolt by his leftwing allies. The tax was subsequently adjusted to a 50% rate payable by companies after the constitutional council ruling in December 2012.

The final nail in the coffin came from the former investment banker who is now France’s economy minister, Emmanuel Macron. A former economic adviser to Hollande, Macron described the supertax as “Cuba without the sun”.

With the party leftwingers having marched out of government in the days and months following the appointment of the openly pro-business Manuel Valls as prime minister last March, it was only a matter of time before the tax was dropped. The prime minister confirmed it would not be renewed in 2015 during a visit to London in October, where he addressed business leaders.

“The reform clearly damaged France’s reputation and competitiveness,” said Jorg Stegemann, the head of the executive search firm Kennedy Executive. “It clearly has become harder to attract international senior managers to come to France than it was.”"""

vege57 wrote:

Casey Jones wrote:

vege57 wrote:They only reason they want a global tax is because the know if they bump up corporate tax, big companies will take their head offices to a more favorable tax regime

That's their thinking.

So, with no survival route...what do they think businesses are going to do?  Operate at a loss?

THEY.   CLOSE.   DOWN!

Global depression.  Wealth destruction writ large.

They will shift house and pay their corporate tax in a different jurisdiction , They will effectively become say, Dutch corporations instead of American. for the purposes of their cooperate tax  

First, that's WHY these boneheads want a Glow Bull Tax.

Second, if the Untied Skates' economy is destroyed, who the HELL is gonna BUY what these new Dutch, or Ugandan, corporations make? If you reduce everyone to penury, there's NO COMMERCE.

Casey Jones wrote:

vege57 wrote:

Casey Jones wrote:

vege57 wrote:They only reason they want a global tax is because the know if they bump up corporate tax, big companies will take their head offices to a more favorable tax regime

That's their thinking.

So, with no survival route...what do they think businesses are going to do?  Operate at a loss?

THEY.   CLOSE.   DOWN!

Global depression.  Wealth destruction writ large.

They will shift house and pay their corporate tax in a different jurisdiction , They will effectively become say, Dutch corporations instead of American. for the purposes of their cooperate tax  

First, that's WHY these boneheads want a Glow Bull Tax.

Second, if the Untied Skates' economy is destroyed, who the HELL is gonna BUY what these new Dutch, or Ugandan, corporations make?  If you reduce everyone to penury, there's NO COMMERCE.

I dont think the Dems give a fuck,

Got to 4.29 in regards corporate tax ...