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Chicom global enslavement

byco42 said:
Ms. Yellen, in a speech to the Chicago Council on Global Affairs, called for global coordination on an international tax rate that would apply to multinational corporations regardless of where they locate their headquarters.​

So that means every nation would have to agree on the same rate. A cartel of sorts.

It is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government.​
(says Ms. Yellen with an incredible measure of presumption.)

SO, governments decide how much ?financing? it needs before it determines what it can afford. At least she admits that it?s a burden. So much subtext here; so many assumptions on her part about the relationship between governments and its citizens. All expressed with a straight face.
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that's an odd perversion of the word "cartel."

do you work for the Business Roundtable, US Chamber of Commerce, or some other actual cartel?

imagine Mexican drug cartels calling Michigan, California, Colorado, etc. "cartels" for legalizing and licensing pot distributors...>:D
 
byco42 said:
Those tax increases are going to be passed on to the masses in the form of higher prices and lower wages/benefits. And I?m speaking of larger assumptions on Ms. Yellen?s part that makes the assumption that taxation is axiomatic because she has the power to penalize those who object, when taxation in and of itself is a penalty.

Imagine a high-ranking government official saying that someone else has too much wealth, when they themselves have used their own positions as government officials to accumulate wealth.
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I don't see how you get smaller tax haven nations to play ball. What's in it for them?
 
michchamp said:
that's an odd perversion of the word "cartel."

do you work for the Business Roundtable, US Chamber of Commerce, or some other actual cartel?

imagine Mexican drug cartels calling Michigan, California, Colorado, etc. "cartels" for legalizing and licensing pot distributors...>:D
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a coalition or cooperative arrangement between political parties intended to promote a mutual interest.​

Substitute “nations” for “political parties” and ... it’s perfectly appropriate. They will need to get along and also still attempt to attract corporations with other means besides lowering the tax rate. What that invites, is virtually everything else.
 
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Gulo Blue said:
I don't see how you get smaller tax haven nations to play ball. What's in it for them?
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With one international minimum corporate tax rate, what “smaller haven tax nations” would remain?
 
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Gulo Blue said:
The ones that don't participate and have no incentive to.
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You think Ms. Yellen thinks that they will have a choice? She is calling for “global co-ordination.”

And as Ms. Yellen “calls” for a global minimum corporate tax, forces have already been in motion.

The Organization for Economic Cooperation and Development, in coordination with the United States, has been working to develop a new international tax architecture that would include a global minimum tax rate for multinational corporations as part of its effort to curtail profit shifting and tax base erosion.

Ms. Yellen said she is working with her counterparts in the Group of 20 advanced nations on changes to the global tax system that will help prevent businesses from shifting profits to low-tax jurisdictions.​

Ms. Yellen will, ultimately, permit no dodging of the global minimum corporate tax.
 
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byco42 said:
You think Ms. Yellen thinks that they will have a choice? She is calling for ?global co-ordination.?

And as Ms. Yellen ?calls? for a global minimum corporate tax, forces have already been in motion.

The Organization for Economic Cooperation and Development, in coordination with the United States, has been working to develop a new international tax architecture that would include a global minimum tax rate for multinational corporations as part of its effort to curtail profit shifting and tax base erosion.

Ms. Yellen said she is working with her counterparts in the Group of 20 advanced nations on changes to the global tax system that will help prevent businesses from shifting profits to low-tax jurisdictions.​

Ms. Yellen will, ultimately, permit no dodging of the global minimum corporate tax.
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According to my research foreign firms paid 80% of Ireland's corporate taxes. It doesn't seem reasonable to me that Yellen isn't aware of what levers are being pulled to get them to give this up - but what are they? If we want to wrestle this money back to the US, what did we offer them in exchange? Or threaten them with?
 
Gulo Blue said:
According to my research foreign firms paid 80% of Ireland's corporate taxes. It doesn't seem reasonable to me that Yellen isn't aware of what levers are being pulled to get them to give this up - but what are they? If we want to wrestle this money back to the US, what did we offer them in exchange? Or threaten them with?
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What we always threaten them with. Sanctions. Of course Yellen is aware. I just don?t think Yellen cares or has even considered that the opposition to this will be a consideration. To her, it?s already inevitable.

EDIT: And would those nations leave Ireland and pay the same minimum tax somewhere else?
 
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byco42 said:
What we always threaten them with. Sanctions. Of course Yellen is aware. I just don?t think Yellen cares or has even considered that the opposition to this will be a consideration. To her, it?s already inevitable.

EDIT: And would those nations leave Ireland and pay the same minimum tax somewhere else?
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Why wouldn't they? Or at least, no new companies would have reason to move headquarters there. Without tax incentives, all corporate headquarters should be near Washington for lobbying purposes.
 
It would be a good thing if the entire world had uniform corporate tax rates, wage-and-hour laws, worker's compensation laws, and workplace safety regulations, and all enforced them fairly and justly, so that there couldn't be a "race to the bottom" to attract corporate HQs and manufacturing facilities.


That being said... has any corporation ever actually moved their HQ and executive staff out of one country to another because of tax rates?

They might open a branch office (or rent a PO Box) in the Bahamas, or Grand Cayman, (or Ireland)... but that sort of thing COULD be easily found to be a violation of US law, or declared an invalid tax shelter if we actually enforced our laws against corporations. But it turns out those corporations have way WAY more power vis-a-vis the IRS and federal regulators than they let on.
 
Like for all the hubbub about Apple having $80 Billion overseas or whatever, and US corporate tax rates being excessive, Tim Cook still lives in Palo Alto CA, and Apple built their massive HQ there.
 
I know in the corporate insurance business, the big players actually have employees in Bermuda brokering insurance coverage and other deals... so there's some basis to claim it as legit. They don't need to be there, the industry pretty much created itself there. but they are physically there.
 
michchamp said:
If the generals do somehow manage to lie us into another war, I can rest assured you'll do your part to support the cause by watching as many youtube videos as you can and clicking all the links they want you to.
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basically, you expect him to do what you do but with different sources...
 
michchamp said:
well, I'm not advocating war and pushing paranoid xenophobia on here, but okay, yeah, other than that we're the same. sure.
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who is advocating for war or pushing paranoid xenophobia? Never mind, you're right - you're not the same. Tigermud doesn't make up strawman arguments whereas it's almost all you do.
 
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Spartanmack said:
who is advocating for war or pushing paranoid xenophobia? Never mind, you're right - you're not the same. Tigermud doesn't make up strawman arguments whereas it's almost all you do.
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tenor.gif
 
If there is a war with China, will LeBron James be named as an honorary officer in the Chinese army?

In fact, will the entire NBA be ?deputized? as an auxiliary Chinese military branch?
 
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