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U.S. Treasury Sec. Janet Yellen calls for global minimum corporate tax rate

U.S. Treasury Sec. Janet Yellen calls for global minimum corporate tax rate

U.S. Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax to curtail corporate tax avoidance. Citing a ’thirty-year race to the bottom’ in which countries have slashed corporate tax rates in an effort to attract multinational businesses, Yellen said the Biden administration would work with other advanced economies in the G20 to set a minimum.

Mutatis 2 weeks

Otherwise stated as the US is raising its tax rate under Biden, and wants to prevent corporations from seeking better alternatives by hindering the competitiveness of other countries.

sean 2 weeks

If we believe that China will sign and abide by a rule like this, it would level the playing field. However, believing that seems to be naive, foolish and probably, well stupid given their complete disregard for environmental regulations that they've signed in the past. I fully believe China would sign it with no intention of enforcing the rule. Thus giving them yet another competitive advantage in their transfer of wealth from all Western nations to China. The Chinese view these agreements as Western weakness. They know that any country that doesn't comply will have a competitive advantage and they've been quite open about their goal of becoming the preeminent global power economically militarily and in every other way. Unfortunately, we have transferred so much wealth and technology to China in the last 10 to 15 years that we are most likely beyond the tipping point, meaning that there is probably no way to prevent China from becoming the preeminent global power. While Western countries debate how many genders there are, the Chinese are transferring wealth adding ever increasing rate. And when they have the economic cudgel that the United States held previously, there won't be any discussion about free speech, gun rights, much less any discussion having to do with LGBTQ transgender etc.

george 2 weeks

The corporations won't pay the taxes. Their customers will. They'll just pass it along as a cost to the people buying their products which will hurt the poor the worst. So she's pushing taxes onto the poor.

Josh 2 weeks

Corporate taxes badly need a global overhaul. The current rules make evasion too easy and penalize smaller businesses that have less scope to skirt the rules. Current structure hurts both U.S. corporations and U.S. people. P.S. By people, I mean humans, not "corporate persons".

Noah PaulOG
Noah PaulOG 2 weeks

Now that the small businesses are taken care of, time to go after the corporations. Soon, only the Federally funded Monopolies will remain, who EARN annual income tax.

Rocky 2 weeks

Hahaha. Otherwise their r!diculous socialism plans fall apart as corporations would immediately leave the US for any country more favorable to capitalism and free trade. What a 🤡. The solution (as it has always been) is to remove government authority to regulate private businesses. This removes all corruption from politics instantly and provides the best environment for small businesses to compete on an even playing field. Licensing, regulations, and taxes are the three most commonly used mechanism by corrupt corporations to remove competition. Abolish taxes. Abolish most Executive branch regulatory agencies, abolish federal income tax, and get the feds back to what they are supposed to be doing. Protecting our property, our rights, and conducting foreign relations. Tha''s it!

John 2 weeks

Because screw the people that actually employ people and make the economy turn.

Fast Eddy
Fast Eddy 2 weeks

Yes because government manages spending effectively and ethically... and the only way to solve problems is to give more money to unaccountable bureaucrats because they know what’s best... money printer go brrr...

Drunkin Lephrechaun
Drunkin Lephrechaun 2 weeks

She wants all countries to come together and agree on a corporate tax rate worldwide, all players to be reading from the same script. Don’t they have a name for that? Darn it I know there is a name for that....

Abhijeet 2 weeks

This is nothing but a baby crying when the tables turn and they lose the edge. Applying sanctions on others whenever they wish, pushing other economies to lurch, and now it comes back when they have to apply same measures domestically as others had to, they want others to play fair?

Unity.Nat 2 weeks

So you think a dying power like America can enforce a global minimum corpo tax for all nations across the Earth. Yet you tell me believing in my Nation's culture is evil. Ya right

S 2 weeks

Here is where the conservative middle class start to throw a fit because the rich are forced to pay their fair share of taxes. It blows the mind.

Indo 2 weeks

And if it gets done, you can all head back to work soon. Businesses can be open without cost worries.

Viviko 2 weeks

How about we just put Yellen in jail... Ever since this pandemic started, we’ve had people who don’t know how the world actually works making decisions for society. We need to stop this garbage.

Mod Okay
Mod Okay 2 weeks

Combating the unpatriotic conservative talking point of capital flight.

Delterra 2 weeks

This is a very promising action to me and speaks to hope at avoiding a plutocratic hegemony destroying the human spirit in the years to come. I hope more leaders speak up and advocate for things like this.

Beijing Biden
Beijing Biden 2 weeks

Your evil globalist plans will fail

S 2 weeks

Trickle Down Economics does not work and never has.

AntiBS 2 weeks

The insanity of the Senile Joe and Evil Pelosi administration achieved new heights.

Central Scrutinizer
Central Scrutinizer 2 weeks

Taxes did not stop pollution, or litter, right? Soo now a tax is going to fix the world now. Hmmmm

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