Here comes Globalism...

I'm surprised that this hasn't been posted here. (Forgive me if I'm wrong) With the ever changing American political climate, Joey is trying to ensure his higher corporate tax rates don't *immediately* bankrupt the U.S.

I believe that this is wrong.. How can you carry a flat tax globally among all nations and currencies? Is this going to be more like the Paris Crap Accord where only countries looking to go bankrupt go all in? Is it a plan to bankrupt all western nations in order to ring the crypto currencies? There is just so much wrong with this administration, why all the smoke and mirrors?

Global Flat Tax

Yellen is expected to push for all other industrialized nations to raise their corporate tax rates to a minimum standard, as well, to ensure economic "competitiveness" worldwide.

See, the key word here is "industrialized". I'm pretty sure that this means places like, China will not be held to this standard as they are still considered a "developing" nation...

I wish our military wasn't a joke and handled this "administration"

So is this effectively a UN 25% chunk of everything?
A 25%+ increase in cost of goods is what it will be.

I really hope we are in a 4d chess larp, or we will soon need to move on without the government.
Just shut off the news and ignore them all.

a reply to: Mandroid7

It says in the article that the world corporate tax rate is around 21%. The hikes don't sound that bad. The part that worries me the most is how we have been diving into globalism over the last year. Seems like if some euro country does something stupid, the other nato countries go, "hold my beer".

This just seems to me like the glue to hold this ship together..

a reply to: SoundisVibration

I wasn't aware of any "global" corporate taxes.
Is that pulled from federal taxes?
Who does it go to?
I need to research it more.

Treasury Secretary Janet Yellen will reportedly call for a global minimum corporate tax rate to prevent U.S. companies from relocating offshore in response to the Biden administration's forthcoming tax hikes, Axios reported on Monday.

This has to be one of the stupidest things I've ever heard... it's clear they hate the free market and now want to stop it at the global scale so that no nation can be competitive. Sorry Biden but business leaving for greener pastures is how the free market works, and several nations have highly successful economies with low corporate tax rates.

a reply to: ChaoticOrder

What do you suggest as an alternative in today's global economy?

its just another move to bankrupt everything so the FED can buy it up with money they print from nothing.

so obvious, it can not get any more obvious. This is a global take over

a reply to: SoundisVibration

What would be the motivation, incentive for any nation to hike tax rates now, when USA is just about to see the biggest exodus of wealth in the known history? Only blank idiot would believe any nation in competition with USA would do nothing but wait and watch US collapse to its own merit.

the smoke and mirrors puppet show we call democracy has failed the ordinary citizen on every possible level (see - the state of the world right now) and no, i don't have an alternative of my own creation - i'm not that smart. seems we're doomed to a feedback loop of divisional opposition normalcy. there must be a better way.

It's how Biden promises to pay for a gazillion social programs and stop climate change. Yeah, kill off enough people by starvation and I bet people do produce less CO2.