Biden admin to call for worldwide tax hike so that US businesses don’t leave country following its corporate tax increase – IOTW Report

Biden admin to call for worldwide tax hike so that US businesses don’t leave country following its corporate tax increase

Blaze- Treasury Secretary Janet Yellen will reportedly call for a global minimum corporate tax rate to prevent U.S. companies from relocating offshore in response to the Biden administration’s forthcoming tax hikes, Axios reported on Monday.

The news outlet made clear that “by trying to convince other countries to impose a global minimum tax, Yellen is acknowledging the risks to the American economy if it acts alone in raising corporate rates.” more here

18 Comments on Biden admin to call for worldwide tax hike so that US businesses don’t leave country following its corporate tax increase

  1. First, corporations don’t pay taxes, they collect them. They either pass the increased cost of doing business onto the customer or they lower their profit margin and pay out less in dividends.

    Second, only a fucking raving lunatic would follow another one off a cliff. If this proposal didn’t inspire some world wide belly laughs, nothing will.

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  2. “…Then there was communism’s weak-tea sister, socialism. Socialists maintained that we shouldn’t take all the money away from all the people since all the people don’t have money. We should take all the money away from only the people who make money. Then, when we run out of that, we could take more money from the people who…hey, wait! Where’d you people go? What do you mean you’re “tax exiles in Monaco?””

    -P.J. O’Rourke,“The C.E.O. of the Sofa”,

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  3. …and, were the world to actually TAKE his advice, then EVERYONE could be in a Weimar Germany hyperinflationary death spiral instead of just the U.S…

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  4. Or what? What if they don’t follow Yellen’s advice? Are we going to reduce the $$ of foreign aid we gift to these countries?? Are we going to stop being the World’s Superpower with our Military, protecting all those countries that don’t want to spend for their Defense? What’s the Carrot or Stick, Janet ??

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  5. “Rich shitpokes with high hat tax lawyers don’t pay taxes, and neither do their high hat tax lawyers if they’re any good.” —- PJ O’Rourke, “Parliment of Whores.”

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