- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
G7 backs Biden's sweeping overhaul of global tax system
Posted on 6/5/21 at 12:08 pm
Posted on 6/5/21 at 12:08 pm
LINK
quote:
Group of Seven finance ministers gathering in London agreed Saturday to back a global minimum tax of at least 15% on multinational companies. The G7 group also agreed that the biggest companies should pay tax where they generate sales, and not just where they have a physical presence.
UK finance minister Rishi Sunak announced the agreement in a video posted on Twitter Saturday, saying G7 finance ministers -- hailing from Canada, France, Germany, Italy, Japan, the UK and the US -- had "reached a historic agreement to reform the global tax system to make it fit for the global digital age and, crucially, to make sure that it's fair so that the right companies pay the right tax in the right places."
The agreement was made during a G7 meeting of finance ministers in London, attended by US Treasury Secretary Janet Yellen, where she sought backing for the administration's efforts to rewrite international tax rules and discourage American companies from booking earnings abroad.
25
Posted on 6/5/21 at 12:09 pm to WPBTiger
Make Marxism Great for the first time ever
Posted on 6/5/21 at 12:10 pm to WPBTiger
So there's no reason for companies to leave. Not a terrible trade off, but taxes are theft!
Posted on 6/5/21 at 12:11 pm to WPBTiger
Non G7 countries finna FEAST!
Posted on 6/5/21 at 12:49 pm to Eli Goldfinger
Is this an additional tax? Or an agreement that world leaders will push their governments to tax their corporations at a minimum of 15%?
And in what way? Property taxes? Sales taxes? Income taxes?
And in what way? Property taxes? Sales taxes? Income taxes?
Posted on 6/5/21 at 12:55 pm to WPBTiger
Always wanted to visit Ireland.
Posted on 6/5/21 at 12:57 pm to WPBTiger
These woke corporations in many ways actively undermined the previous administration to get this administration in power- frick em, they can choke on it.
Posted on 6/5/21 at 12:59 pm to CrazyJoeDivola
IT's not going to be them choking on anything. It's going to be the poor and middle classes in the first world paying for boondoggles in the third world. In the meantime, China will be building strategic assets around the world.
Posted on 6/5/21 at 1:08 pm to jawnybnsc
Elections have consequences- until the scales fall from people’s eyes to see the truth- nothing will improve. And it will have to hurt, bad.
So they can choke on it. Raise their taxes.
So they can choke on it. Raise their taxes.
Posted on 6/5/21 at 1:09 pm to WPBTiger
Marxists support global Marxism. Surprise surprise
Posted on 6/5/21 at 1:19 pm to TheHarahanian
quote:
Marxists support global Marxism. Surprise surprise
Yeah but as a conservative do you want made in America or more choice, driving down price?
Posted on 6/5/21 at 1:59 pm to WPBTiger
If we are going to put all of these restrictions on business in the US I would definitely prefer everyone else to do it also so we don’t run companies out of the US.
I am not saying I agree with wasteful restrictions/taxes. I am just saying I am fine with other countries giving up a competitive advantage that we may have stupidly given them.
I am not saying I agree with wasteful restrictions/taxes. I am just saying I am fine with other countries giving up a competitive advantage that we may have stupidly given them.
Posted on 6/5/21 at 2:02 pm to momentoftruth87
quote:
Yeah but as a conservative do you want made in America or more choice, driving down price?
I want competitive made in America business within the US.
Posted on 6/5/21 at 2:09 pm to Colonel Flagg
Nice answer my man 
Posted on 6/5/21 at 2:10 pm to jlovel7
quote:
Is this an additional tax? Or an agreement that world leaders will push their governments to tax their corporations at a minimum of 15%?
And in what way? Property taxes? Sales taxes? Income taxes?
I believe that this is a plan to get every nation to have a corporate income tax of at least 15%. Nations will be able to have a higher rate if they want, but not a lower one. Of course, they would have to get the all the nations or most of the nations of the world to agree to it or else countries like Ireland (12.5%) and Hungary (9.0%) finna eat.
Posted on 6/5/21 at 2:14 pm to momentoftruth87
quote:
Yeah but as a conservative do you want made in America or more choice, driving down price?
The way I see this unfolding, assuming the Marxist thieves get their way, is corporations around the world will appear to pay the same tax rate. I say “appear” because I don’t believe every government will play fair.
However, the corporations will pass on the higher taxes in the form of higher costs of goods produced, so everybody pays more.
The difference will continue to be the lower labor costs in places like India and China, and those countries will still produce lower cost garbage so it’s not worth it for US-based manufacturers to try to compete.
The result is inflated prices for the same goods, and manufacturing jobs here continue to vanish. Enjoy your marxism.
At least you stuck it to those evil corporations when you made them charge you more.
This post was edited on 6/5/21 at 2:31 pm
Posted on 6/5/21 at 2:21 pm to WPBTiger
Corporations and companies don't pay taxes. They just tack-on the cost of confiscatory taxes to their goods and services. For them it's just part of the cost of doing business. I call it trickle down taxation. Once again the Pedo President deals a severe blow to middle class working families.
Stolen elections have consequences.
Stolen elections have consequences.
This post was edited on 6/5/21 at 2:26 pm
Posted on 6/5/21 at 3:58 pm to WeeWee
quote:
Of course, they would have to get the all the nations or most of the nations of the world to agree to it or else countries like Ireland (12.5%) and Hungary (9.0%) finna eat.
Uh huh. And why aren't they currently "eating" considering our rate is 21%?
This post was edited on 6/5/21 at 3:58 pm
Posted on 6/5/21 at 4:04 pm to WPBTiger
quote:
minimum tax of at least 15%
Of which 15% will go directly to China, and 1% to Hunter via China
Posted on 6/5/21 at 4:06 pm to Zarkinletch416
quote:
Corporations and companies don't pay taxes. They just tack-on the cost of confiscatory taxes to their goods and services. For them it's just part of the cost of doing business. I call it trickle down taxation. Once again the Pedo President deals a severe blow to middle class working families.
Stolen elections have consequences.
I generally agree with the point; however, if we are stupid to install a ridiculous tax structure I would definitely prefer other countries to as well.
Page 1 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News