The conservatives have yet to weigh in.

[Torus34]

For many years now a number of large corporations have worked hard shuffling things from country to country [Ed.: Sometimes only on paper,] to reduce their taxes. This avoidance process has been aided by some countries -- Ireland comes to mind -- through the lowering of corporate tax rates.

Now, it appears, there's a possibility of a number of modern democracies banding together to set a minimum tax rate. The number being circulated is 15%.

Thus far, this poor old country mouse has not run across any comments by any well-known conservative on the matter. Even the United States expert on everything, Mr. Donald Trump, has maintained silence regarding this.

Very interesting.

Stay safe 'n well.

 

[Monica33]

What exactly is there to say ?

About time ?
Not obviously crazy on first inspection ?
Might accelerate getting rid of tax havens ?
Is Sleepy still awake ?

 

[PNW Guy]

They're too busy with important stuff, like felating the mango menace and pretending they believe Biden is senile.

 

[Monica33]

They're too busy with important stuff, like felating the mango menace and pretending they believe Biden is senile.

Anybody not seeing that Sleepy is a demented old duffer with a fixed goofy expression is blind . Also very slippery feet and non matching legs .

Anyhow , enjoy .

He will be shortly substituted by your own team if not by others .

 

[gdgyva]

For many years now a number of large corporations have worked hard shuffling things from country to country [Ed.: Sometimes only on paper,] to reduce their taxes. This avoidance process has been aided by some countries -- Ireland comes to mind -- through the lowering of corporate tax rates.

Now, it appears, there's a possibility of a number of modern democracies banding together to set a minimum tax rate. The number being circulated is 15%.

Thus far, this poor old country mouse has not run across any comments by any well-known conservative on the matter. Even the United States expert on everything, Mr. Donald Trump, has maintained silence regarding this.

Very interesting.

Stay safe 'n well.

I guarantee the boards of every major company are discussing this....and what to do about it

And they are talking to people in other countries they may not have said anything about a minimum tax

This may be another in a long line of what people thought were good intentions, that end with VERY BAD repercussions

 

[swing_voter]

The tax only applies to America tech companies, Google, Facebook, etc.

 

[KevinKohler]

Won't work.

If you want to make/force change, force companies to abide by the laws imposed by their client countries.

IE, if China wants to US to buy their crap, the US should demand that China adhere to the US standards for environmental protections, labor laws, safety, etc.

If all countries do this, the playing field would be leveled very quickly, and quality of life would improve globally.

This intercontinental tax rate will simply push companies into other arms, countries that don't care about the G7.

 

[NatMorton]

Yes, I’m sure it’s being discussed in many board rooms around the world. I’m also sure it’s being discussed in many second tier national economic council’s, as in “Ya know, if we stay on the sidelines here and then lower our corporate tax rate, we become a more attractive place for investment.”

That’a the trouble with collusion schemes like this global tax agreement. Some players decide to do their own thing to exploit an advantage.

 

[eohrnberger]

Yes, I’m sure it’s being discussed in many board rooms around the world. I’m also sure it’s being discussed in many second tier national economic council’s, as in “Ya know, if we stay on the sidelines here and then lower our corporate tax rate, we become a more attractive place for investment.”

That’a the trouble with collusion schemes like this global tax agreement. Some players decide to do their own thing to exploit an advantage.

Exactly. If you think all the other nations are going to play by the rules, I've got a bridge in Brooklyn to sell ya.

 

[gdgyva]

The tax only applies to America tech companies, Google, Facebook, etc.

For the moment....

Do you really believe Biden, Schumer, and Pelosi are going to keep it that way?

And is amazon a tech company or a retail company?

What determines how they fall into what category....

 

[Craig234]

Thus far, this poor old country mouse has not run across any comments by any well-known conservative on the matter.

They're against it.

 

[Aunt Antifa]

Anybody not seeing that Sleepy is a demented old duffer with a fixed goofy expression is blind . Also very slippery feet and non matching legs .

Anyhow , enjoy .

He will be shortly substituted by your own team if not by others .

You’ve given this a lot of thought. Clearly.

 

[humbolt]

I expect the responses to this will boil down to, "Great idea. You go first."

 

[NatMorton]

They're against it.

Of course we are. We're generally pro-market.

 

[Simpletruther]

For many years now a number of large corporations have worked hard shuffling things from country to country [Ed.: Sometimes only on paper,] to reduce their taxes. This avoidance process has been aided by some countries -- Ireland comes to mind -- through the lowering of corporate tax rates.

Now, it appears, there's a possibility of a number of modern democracies banding together to set a minimum tax rate. The number being circulated is 15%.

Thus far, this poor old country mouse has not run across any comments by any well-known conservative on the matter. Even the United States expert on everything, Mr. Donald Trump, has maintained silence regarding this.

Very interesting.

Stay safe 'n well.

It has potential to be inefficient.

Seems competition is the best way to know optimal tax rates.

If Ireland is benefitting, then obviously their low tax rate is a good thing for them. Why would it be a good thing for them but not for others?

 

[Torus34]

I guarantee the boards of every major company are discussing this....and what to do about it

And they are talking to people in other countries they may not have said anything about a minimum tax

This may be another in a long line of what people thought were good intentions, that end with VERY BAD repercussions

Hi, gdgyva!

Your comment has very broad implications. Human societies are very complex, constantly evolving interactive structures. Any action taken to steer a society in this or that direction runs a very real risk of unforeseen effects. [Ed.: There may be some sort of 'law' that the simplest action produces the most unforeseen consequences. ]

When we, in the United States of America, consider the difficulty of making laws that do just what they are intended to do and add in the capabilities and priorities of those we elect to develop and pass them, ... 'nuff said.

Regards, stay safe 'n well.

 

[NatMorton]

Price fixing schemes are many things, but pro-consumer is rarely one of them.

 

[Greenbeard]

Of course we are. We're generally pro-market.

Pro-tax avoidance and pro-market are not the same thing.

 

[NatMorton]

When Trump decided tariffs were a good idea, many on the left rightly pointed out that import taxes would ultimately be paid by consumers in the form of higher prices. Where does this wisdom go when higher taxes on domestic providers of goods and services are proposed?

 

[NatMorton]

Pro-tax avoidance and pro-market are not the same thing.

It's fundamentally no different than combatting higher price avoidance.

In a global market, players have a choice on where they wish to be domiciled and thus where they wished to be taxed. Members of the G-7 may seek to fix their tax rates (i.e. collude to fix their prices), but by doing so they will simply create opportunities for tax jurisdictions outside of the G-7.

Capital is more mobile and more agile than tax law.

 

[Airyaman]

When Trump decided tariffs were a good idea, many on the left rightly pointed out that import taxes would ultimately be paid by consumers in the form of higher prices. Where does this wisdom go when higher taxes on domestic providers of goods and services are proposed?

US companies already have a rate higher than 15%.

 

[NatMorton]

US companies already have a rate higher than 15%.

And what do you think that proves?

 

[Airyaman]

And what do you think that proves?

You can't have a higher tax at 15% when it is already higher. I mean, it's very basic math.

 

[NatMorton]

You can't have a higher tax at 15% when it is already higher. I mean, it's very basic math.

And it's very basic economics to realize that even if your competitor has lower prices, once they raise their price it creates an opportunity for you to raise yours. That is the game the Biden administration is likely playing here: creating an opportunity to raise the US corporate rate by first mitigating the risk of losing taxable income.

 

[Fishking]

For many years now a number of large corporations have worked hard shuffling things from country to country [Ed.: Sometimes only on paper,] to reduce their taxes. This avoidance process has been aided by some countries -- Ireland comes to mind -- through the lowering of corporate tax rates.

Now, it appears, there's a possibility of a number of modern democracies banding together to set a minimum tax rate. The number being circulated is 15%.

Thus far, this poor old country mouse has not run across any comments by any well-known conservative on the matter. Even the United States expert on everything, Mr. Donald Trump, has maintained silence regarding this.

Very interesting.

Stay safe 'n well.

Just leftist trying to figure out ways to maintain their power and oppression in a manner that won't allow people to flee or escape.