G20 agrees to raise corporate taxes 15% that will fuel inflation.

[Cellblock2429]

Too bad we no longer have a president in office who fights to protect Americans from getting hosed like this. But hey, no more mean tweets.

G20 agrees to raise all prices across the board and worldwide - NewsBreak

Meeting in Rome, Italy, leaders of the world’s 20 largest economies (G20) endorsed a plan to set a minimum global tax on corporations. The endorsement is basically a commitment to adopt a tax plan set by the Orgnisation for Economic Co-operation and Development (OECD) adopted in August.

www.newsbreakapp.com

 

[Claudette]

Sounds like a load of horse shit to me.

Bidung and his administration sure don't care about America or Americans if they backed this shitty deal.

 

[Blues Man]

And just who are these "global taxes" being paid to?

This is just more political theater as no country is obligated to pay taxes to some international organization/

 

[Polishprince]

I don't know if such an atrocity will fuel hyperinflation, but its still a bad idea.

Taxing the hell out of something is the surest way to get less of it.

When the states wanted to discourage cigarette smoking , they implemented huge new taxes and were successful.

Now they want to decrease income and wealth, and they'll be successful with that too, if they can implement this.

 

[Harpy Eagle]

And just who are these "global taxes" being paid to?

This is just more political theater as no country is obligated to pay taxes to some international organization/

There is no global tax. All that happened was the countries agreed to have a minimum tax in their countries of 15% to keep companies form "country" shopping for the lowest tax rate.

It is one thing to disagree with the plan, but another to lie about what it is

 

[Harpy Eagle]

I don't know if such an atrocity will fuel hyperinflation, but its still a bad idea.

Taxing the hell out of something is the surest way to get less of it.

When the states wanted to discourage cigarette smoking , they implemented huge new taxes and were successful.

Now they want to decrease income and wealth, and they'll be successful with that too, if they can implement this.

Is 15% really "taxing the hell out of something"?

The irony is that this could actually help to stop American companies from offshoring to places with next to no corporate taxes.

 

[Tommy Tainant]

OP is a lie. Nothing is being raised by 20%.

 

[Blues Man]

There is no global tax. All that happened was the countries agreed to have a minimum tax in their countries of 15% to keep companies form "country" shopping for the lowest tax rate.

It is one thing to disagree with the plan, but another to lie about what it is

another nonbinding agreement.

If a country can attract businesses, jobs and revenue with a lower tax rate they will

 

[jbrownson0831]

OP is a lie. Nothing is being raised by 20%.

Isn't it tea time Dimmer?

 

[Polishprince]

Is 15% really "taxing the hell out of something"?

The irony is that this could actually help to stop American companies from offshoring to places with next to no corporate taxes.

What's wrong with COMPETITION? If Grand Cayman is doing something right like reducing taxes to encourage economic development, other countries should be competing, not stifling the competition. At least IMHO.

Should we really be on a race to the bottom?

The 15%, BTW, is only the first step. That will go up just like other new taxes inevitably do.

 

[Flash]

Libtards all over the world are just as stupid as US Libtards. The morons think everything will be more prosperous with more taxes and bigger government.

Stupidity like that is unbelievable.

 

[Harpy Eagle]

What's wrong with COMPETITION? If Grand Cayman is doing something right like reducing taxes to encourage economic development, other countries should be competing, not stifling the competition. At least IMHO.

Should we really be on a race to the bottom?

There is nothing wrong with COMPETITION.

But for the most part you all have been the ones whining the most about off shoring by US companies, now all of sudden it is a good thing for them to do...

I just cannot keep up any longer, the story changes daily

 

[PinktheFloyd88]

Glad to see they are working on this, but until it actually happens I am skeptical.

 

[Cellblock2429]

OP is a lie. Nothing is being raised by 20%.

/—-/ A typo, not a lie. I was thinking G20, but it should be 15%. I’ll edit it. Thanks

 

[Polishprince]

There is nothing wrong with COMPETITION.

But for the most part you all have been the ones whining the most about off shoring by US companies, now all of sudden it is a good thing for them to do...

I just cannot keep up any longer, the story changes daily

My point is that if Grand Cayman, a tiny speck on the map, is able to reduce taxes, so should America.

Can't America compete any more?

Are we really a Pathetic Loser State under Sleepy Joe?

 

[Uncensored2008]

And just who are these "global taxes" being paid to?

Shush, you can't ask such things.

This is just more political theater as no country is obligated to pay taxes to some international organization/

They want the create an international tax agency under the UN.

Proceeds to go to Hamas, ISIS, Boca Haram, and other groups aiding development of underprivileged neighbors.

 

[Uncensored2008]

There is no global tax. All that happened was the countries agreed to have a minimum tax in their countries of 15% to keep companies form "country" shopping for the lowest tax rate.

It is one thing to disagree with the plan, but another to lie about what it is

There is no global tax, but Xi's man Biden sure wants one.

Biden's "Made in America" Tax Plan: Effects of Proposed International Tax Changes on U.S. Multinationals

The international corporate tax changes in President Biden’s tax plan would increase tax rates on domestic income more than on foreign income, resulting in a net increase in profit shifting out of the US, according to our Multinational Tax Model.

taxfoundation.org

 

[PinktheFloyd88]

My point is that if Grand Cayman, a tiny speck on the map, is able to reduce taxes, so should America.

Can't America compete any more?

Are we really a Pathetic Loser State under Sleepy Joe?

This is a ludicrous argument if you think about it for more than 5 seconds and are not a Libertarian freakshow.

How many miles of roads must be paved in the grand Cayman islands, the 'tiny speck' as you accurately pointed out?

Now, how many miles of road must be paved in the USA, one of the largest countries in the world?

The grand caymans have a population of 64,400 people...the USA has a population of 330,000,000. How are you going to pay for social security for 330,000,000 people if you tax the country like it has 64,400?

Think before you say such ridiculous things. Comparing a tiny island to the United States is dense.

 

[Uncensored2008]

Is 15% really "taxing the hell out of something"?

The irony is that this could actually help to stop American companies from offshoring to places with next to no corporate taxes.

Why don't you start sending me 15% of your lavish government pension?

As you say, it isn't that much.

I know, that's different, because reasons.

 

[PinktheFloyd88]

And just who are these "global taxes" being paid to?

Read the article, dude...

Did you just come in and post without any knowledge of the framework they are discussing?