This happens after the obligatory ground pounding tantrum of course.
Posted on 07/16/2022 5:58:04 AM PDT by Oldeconomybuyer
NUSA DUA, Indonesia (Reuters) -The United States will look for every opportunity to move ahead and enact a global minimum corporate tax agreement despite the opposition of a key Democratic senator, Joe Manchin, to raising corporate taxes, U.S. Treasury Secretary Janet Yellen said.
Yellen told reporters on Saturday that finance officials from the Group of 20 major economies reached strong consensus about many issues, including the need to address a worsening food security crisis, despite differences over Russia's war in Ukraine that prevented the leaders from issuing a joint statement.
Manchin, who holds the pivotal vote in the evenly divided Senate, this week said he would not support a Democratic proposal for new climate change spending and higher taxes for corporations and wealthier Americans.
“We are very committed to moving ahead with this. This is a truly important global initiative," she said on the second day of a two-day G20 meeting in Bali. "I can tell you that we will continue to look for every possible opportunity that we have to move this forward."
She said the United States had a strong incentive to move forward because as other countries enacted the tax agreement, they would be taxing the foreign profits of U.S. companies, while the United States would be leaving "that tax revenue on the table rather than capturing it ourselves."
(Excerpt) Read more at news.yahoo.com ...
I think that such an action would require a law and a treaty ratification, maybe both? I do not see this happening any time soon. But they better hurry, NOV is getting close!
Unconstitutional.
Wherever she went to college, she should get a 100 percent refund.
I would say put up an across the board 20% import tariff then lower corp tax rates to 0% for all manufactures and 5% for all other corps.
Indeed the more taxes the feds get the more they can spend the democrats never change.
I would say put up an across the board 20% import tariff then lower corp tax rates to 0% for all manufactures and 5% for all other corps.
That priceless planet calculator looks awful. Does it ask for thermostat settings?
There’s nothing to prevent governments from giving local tax breaks to offset a world corporate tax. This is just a hit at countries that enjoy the benefits of lower corporate rates .
This happens after the obligatory ground pounding tantrum of course.
They want a global tax because the U. N. does not have a
constituency.
The U. S. has citizen taxpayers. Other nations do as well.
The U. N. has not citizens. It tries to claim the entire
population of the planet, so it can gain an income.
This is another instance of “Just say no!” Nancy was right...
The last thing we need for this worthless body, is a
reliable never ending income stream.
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