Did you know POTATUS and the treasury gnome have spent 2 years negotiating a Global Minimum Tax?

Hotair ^ | 07/25/2023 | Beege Welborn

[SeekAndFind]

I had not heard this. And what I am hearing is pretty disturbing as, unsurprisingly, it completely screws American businesses. It takes the concepts of globalism and equity, then combines them while surrendering our sovereignty over our own tax revenues. Basically giving it away.

Does that sound about right?

The quiet new way @JoeBiden & @TheDemocrats wants to tax you. @OECD surrenders America’s sovereignty over our tax code and allows foreign countries to take our taxes that were meant for our own essential programs and military. https://t.co/7H2rYl6iB0

— Topper in NC (@LieselGreer) July 22, 2023

Horrifically enough, it is.

Over the past two years, President Biden and Treasury Secretary Janet Yellen have negotiated a global minimum tax through the Organization for Economic Co-Operation and Development (OECD). This organization surrenders America’s sovereignty over our tax code and allows foreign countries to take our taxes that were meant for our own essential programs and military.

…Until last year, the United States was the only country in the world with a global minimum tax. Here at home, U.S. corporations already face a 21% tax rate. Congress has a long history of using the tax code to incentivize certain behavior from businesses and individuals.

…All 25 Republicans of the Ways and Means Committee sponsored the Defending American Jobs and Investment Act. This bill requires the Treasury Department to identify taxes enacted by foreign countries that attack U.S. businesses, like the Undertaxed Profits Rule (UTPR).

The UTPR’s goal is to force countries to enact the OECD plan for global socialism and collect more tax dollars from American businesses. The OECD is actively working against American interests, even while the United States funds 20% of its yearly budget. Republicans in Congress have promised to end all funding for the OECD if it continues along this dangerous path.

Republicans in Congress held a hearing on the 17th (!) exposing the negotiations and the “deal” which the president and Treasury Secretary Yellen had struck and the more you dig into this Undertaxed Profits Rule (UTPR) those two bozos have agreed to, the worse it gets.

…“Once again, the Biden Administration neglected to consult Congress before cheerleading the OECD’s latest global tax code rewrite. Today’s ‘administrative guidance’ acknowledges what Republicans have warned for more than two years: the UTPR surtax is unworkable and unlawful.

“By exposing the UTPR’s fundamental flaws, congressional Republicans created an opportunity for the OECD to reconsider this illegal extraterritorial tax which violates U.S. sovereignty. Shockingly, the Biden Administration failed to follow through, surrendering to foreign country demands to allow the UTPR to hit U.S. workers and businesses starting in 2026. Moreover, the OECD’s nonsensical treatment of investment incentives remains, which will send U.S. R&D jobs and tax revenues overseas.

The Wall Street Journal is saying that U.S. companies have won a smallish reprieve in the implementation of this global business equity tax and, of course, the brilliant Yellen thinks it’s the greatest thing since sliced bread. Holy crap, what did we do to deserve these mushrooms when we need brains?

…Under the updated agreement negotiated by the Treasury Department, companies will have an extra year—until 2026—before foreign countries can start imposing new taxes on any U.S. companies deemed to pay too little tax in the U.S. And the clean-energy tax credits at the core of last year’s Inflation Reduction Act will be counted in a more favorable way than some companies had feared, offering certainty as a tax-credit trading market gets under way.

The Organization for Economic Cooperation and Development, which is leading the talks, detailed the changes Monday in technical guidance after negotiations among countries.

The U.S. and about 140 other jurisdictions agreed in late 2021 to impose a 15% minimum tax on large companies in each country where they operate. Negotiators, including Treasury Secretary Janet Yellen, hailed the deal as a landmark achievement in international cooperation and a bulwark against corporate tax dodging.

Did you read that first line?

Before FOREIGN COUNTRIES CAN START IMPOSING NEW TAXES ON ANY U.S. COMPANIES DEEMED TO PAY “too little” tax in the U.S.

What are these Davos devotees doing to us?

…Some countries—Japan, South Korea and members of the European Union—are forging ahead with minimum taxes under the deal, but the U.S. isn’t. After negotiating the deal, the Biden administration couldn’t push the changes through the Democratic-controlled Congress last year. Republicans, who now lead the House, oppose the deal, calling it a global tax surrender.

The U.S. has a 10.5% minimum tax on U.S. companies’ foreign income that was created in 2017 and a 15% minimum tax on large companies’ global profits that was enacted last year. Neither conforms to the global deal, however. So as the OECD hammers out the rules, the U.S. has looked for ways to make the country’s system fit the international framework.

So the administration couldn’t even get this stinking pile of poo through a Democratic Congress? It’s no wonder when you learn how it works.

…Under the UTPR, a foreign country can look at a company’s tax rate in every country and, if that isn’t 15%, charge more in taxes. For example, France could see that a U.S. tech company is paying a 10% rate to the U.S. and require it to pay more to France. Monday’s guidance delays that rule until 2026 in countries where the tax rate is at least 20%. The U.S. corporate tax rate is 21%; the delay gives Congress time to address this with other expiring tax provisions in 2025.

BIDENOMICS, BABY!

The OECD is attempting to make American businesses less competitive and allow foreign governments to dictate our tax laws.

The Biden Administration is effectively negotiating the U.S. into a global socialist agenda. pic.twitter.com/Qes1M5ZoZX

— Rep. Carol Miller (@RepCarolMiller) July 20, 2023

And now they’re making noises because the Republicans want to pull the plug on what was obviously a surrender of national sovereignty?

A nation that is not sovereign is not free.

— Robere Morin (@MorinRobere) July 20, 2023

The administration that sneaks out to do everything out behind the woodshed under cover of darkness had some tapdancing to do at the hearing. This is just a snippet from the link:

Chairman Smith: “Was Congress consulted prior to Treasury agreeing to a UTPR surtax that would allow foreign governments to tax the U.S. operations of U.S. companies?”

Mr. Plowgian: “We did receive input from Congress on the UTPR during the negotiations…We did receive input from Congress.”

Chairman Smith: “I have followed this issue very closely over the past three years, and I don’t think that’s the case. I know that Treasury has never consulted with Republican members prior to a decision. And unless you would like to revise your testimony, please provide to this committee in writing, the date of the consultation, the names of Treasury personnel involved, and the names of members of Congress that Treasury met with. Can you get me that information?”

OECD Is Another Global Institution Where the Deck is Stacked Against America

The OECD, the organization colluding with the Biden Administration on its global tax surrender, is largely controlled by European nations and their former colonies and has amassed over 130 signatory nations to its global tax scheme. Yet, the burden of the deal falls largely on American businesses, with American firms slated to pay 60 percent of the taxes under Pillar 1 of the agreement. The decision by the Biden Administration to play by OECD rules shows a stunning betrayal of the American employers and workers who will be affected by this tax deal.

Color me shocked there’s been little to no airtime for this, but there have been outraged calls to dump the whole disgusting, anti-American mess. It’s yet one more example of an unconstitutional power grab from this rogue regime…

…An obvious target is Mr. Biden’s actions circumventing Congress and agreeing with the Organization for Economic Cooperation and Development to impose an international minimum tax on large international companies, most of which are owned by American investors. Remarkably, the Biden administration agreed to let foreign governments tax U.S. companies on their U.S. earnings if Congress refuses to adopt the minimum tax. In this extraordinary circumvention of the Constitution, the Biden administration has attempted to use an international agreement that Congress never approved to force Congress to raise taxes.

This follows similar administrative practices of using European regulations and antitrust actions to impose policies on U.S. companies that our courts have rejected. Fortunately, the State, Foreign Operations, and Related Programs Appropriations Bill as reported by the House subcommittee terminates all U.S. funding for the OECD. Congress should further disavow the tax agreement and, using the power of the House to legislate on appropriations bills, mandate retaliation against any nation attempting to tax U.S. companies on U.S. earnings. …

…run by duplicitous, malevolent clowns.

We have got to take the whole thing in ’24.

[SaveFerris]

[a Global Minimum Tax]

WHAT could possibly go wrong?

What would really be cool, would be, like, being a Global Citizen. Yeah, that would be soooooo cool. Like totally.

Nothing like being a Global Citizen, eh?

Love the United Nations. Globalism is so cool.

Just step right up, Global Citizen, and get yer Global ID 2020, microchip and tattoo, all to prove you're a good citizen of the world.



Notice that even the fools in the audience (as well as the band and United Nations leader at that time) are doing the "O" hand symbol to honor Manchurian Candidate Obama who is appearing on-screen in a pre-recorded message

The 2014 Global Citizen Festival - woohoo, a New World Order! Peace and Security!

[The 2014 Global Citizen Festival]

Smiling faces, smiling faces, sometimes......





Take action. Earn tickets. See impact. Be a part of the movement to end extreme poverty!

[Secret Agent Man]

No taxation without representation.

Another reason for rwii

Already have a crap-ton of reasons

[DoughtyOne]

Sounds a lot like treason.

[EasySt]

“Sounds a lot like treason.”

~~~~~~~

Yup.

[DoughtyOne]

We have a whole network of people in this nation that are
acting in a seditious treasonous anti-Constitutional manner.

It’s gonna take some tough love to get things back on track.

Some folks ostensibly on our side, won’t like some of the
remedies either.

It’s one thing to not like what our leaders are doing, but
the way to fix that is not to side with foreign nations
against our own, and laugh when things hurt the US.

[texas booster]

Who knew that the Jack Chick gospel tracts of the past generation would turn out to be prophetic?

[SaveFerris]

I don’t know when Jack wrote that one, but for some reason 1970 comes to mind - maybe because that’s when I seem to recall seeing that one for the first time (based on my age, roughly, and where I was living with my parents at that time).

It is truly spot-on. It’s not perfect, of course. Jack apparently thought the Antichrist and the False Prophet would be one person. They will be, in fact, two people.

I also think he conflates the Ezekiel 38 war with Armageddon of Revelation chapter 19 (mentioned in 16; the armies of the world gather at Meggido).

The grocery store pic reminds me of people not being able to buy groceries without a mask. Which is why I say COVID-19(84) was an excellent dry-run for the Mark of the Beast.

It won’t happen tomorrow, of course. But it will happen. I’m trying to let people know, with stuff that they can share with family and friends. The Godless Globalists are already shutting down people on media; especially Bible verses and knowledge about the Scriptures.

So, we must work while we still can.

(lurkers please click on my screenname to see my FR homepage for additional information)

I’m sure you’ve seen my Amazon One photos - just a quick scan from the search engine pulled up what I’m about to show you. Another dry run, even if by accident. Getting people used to paying for their groceries with the swipe of a hand.

[SaveFerris]

Amazon One - Palm-print scanner - It is not the Mark of the Beast - just a precursor; a warm-up; a dress rehearsal

Pay with your hand - Forerunner to the coming Mark of the Beast (Revelation 13)

Using one's hands to pay for food. A boxed "convenience store" (Hudson Nonstop, LAX airport, Dallas Love Field airport), to Arbor Trails Whole Foods (Austin, Texas), to paying for food at Panera Bread, to other Whole Foods stores (owned by Amazon).

Yes, I use Amazon for shopping from time-to-time but this "scan-your-hand-to-pay" is already alive and in operation - no doubt it will continue to expand / grow in acceptance. The conditioning (intentional or unintentional, it will make no difference) has started.

I'm sure the people in the pics think they're showing the latest "cool thing" - possibly mocking and laughing at any reference to the "Mark of the Beast" - this is just a sampling of the pictures I found.

By the time the actual Mark of the Beast, these kinds of payment systems will be fully-embedded in society I think.

Amazon One

The world is not there - YET. But the conditioning, intentional or unintentional - it will make no difference. Fast, easy, secure, convenient. IMHO, cash will be outlawed. Digital Currency 100% will be the future. /Captain Obvious

[SaveFerris]

And a second round of pictures (after the Bible verses):

Acts 2:38
New King James Version

38 Then Peter said to them, “Repent, and let every one of you be baptized in the name of Jesus Christ for the remission of sins; and you shall receive the gift of the Holy Spirit."

https://www.biblegateway.com/passage/?search=Acts+2%3A38&version=NKJV

John 3:17-18
New King James Version

17 For God did not send His Son into the world to condemn the world, but that the world through Him might be Saved.

18 He who believes in Him is not condemned; but he who does not believe is condemned already, because he has not believed in the name of the only begotten Son of God.

https://www.biblegateway.com/passage/?search=John+3%3A17-18&version=NKJV

Romans 10:9-10
New King James Version

9 that if you confess with your mouth the Lord Jesus and believe in your heart that God has raised Him from the dead, you will be Saved.

10 For with the heart one believes unto righteousness, and with the mouth confession is made unto Salvation.

https://www.biblegateway.com/passage/?search=Romans+10%3A9-10&version=NKJV

An Amazon Go (Just Walk Out) store in the United Kingdom:





Amazon Unveiled A New Program To Pay Using Only Your Palm And I’m Both Impressed And Concerned



NASCAR taps Amazon’s Just Walk Out to improve Phoenix Raceway fan experience









Amazon Go’s first Southern California convenience store opens in Whittier - It’s the company’s first Southern California location, and another is coming to Torrance (Notice Logging-In with a Cellphone)



Cardless Bank ATM - Cellphone Money Recharge / Amazon One



TECH: There's no good reason for Starbucks to use Amazon's palm-scanning tech



Amazon sued for not telling New York store customers about tracking biometrics



Amazon and Starbucks team up for cashier-less cafe in New York City - (Notice Logging-In with Cellphone)



Glover Park (D.C. area) Whole Foods finally reopens; just walk out



Amazon Is Opening A 30,000 Square Foot Retail Clothing Store In Los Angeles That Will Feature Paying By Palm Scan And QR Codes In Dystopian Harbinger





GREATER LA - Cameras, not cashiers, let you ‘Just Walk Out’ of Sherman Oaks (California) Whole Foods



Amazon Whole Foods: Easy Ways To Shop and Pay In-Store



Amazon Fresh to unveil ‘Just Walk Out’ technology in Cerritos – a first for California



Hudson Nonstop, Powered By Amazon’s Just Walk Out Technology, Takes Flight At Dallas Love Field Airport

[maddog55]

Biden isn’t negotiating anything. He’s just a prop.

[ronnie raygun]

exactly!

[bantam]

And idiots like in the pics think that’s cool!!!!
Simpletons!!!!!

[Boomer]

DemRats should be banned from holding any office in the USA from the federal level all the way down to the smallest town. They’ve proven themselves to be dangerous to the well being of all Americans so they should be treated as domestic terrorists at large.

[DoughtyOne]

[EasySt]

I’m certainly not laughing, but I will note that the thing most hurting the US right now, is our own government.

It seems to have been stolen and turned over to degenerates by the likes of Epstein’s handlers and best clients, the ones apparently still running this clown show, and trying to start WW3 or Civil War 2 to distract from their high crimes and treason.

[SaveFerris]

It’s convenient.

Right up until the New World Order and the False Prophet tell you to take the Mark of the Beast and worship the Antichrist.

Then, Revelation 20:4.

[meyer]

Whatever these globalists want, it won’t affect BRICS.

[DoughtyOne]

I agree with that. We have a very bad crew in there right
now, and we know who they have partnered with.

[FormerFRLurker]

Another reason for rwii

What does "rwii" stand for?