The corporate tax rates across the world as of 2019
* The Treasury Department said it proposed a global minimum corporate tax rate of at least 15% during international tax negotiations on Thursday
* Treasury Secretary Janet Yellen first proposed a 21% global corporate minimum tax as part of President Joe Biden's $2.2 trillion infrastructure spending proposal
* Biden wants to pay for the American Jobs Plan by increasing the corporate tax rate to 28% from the current 21%
* Most countries that have a corporate tax rate below 15% are tax havens such as Bermuda and the Cayman Islands
* All of the G7 nations have a rate higher than 15% and China's rate is 25%
The Treasury Department said it proposed a global minimum corporate tax rate of at least 15% during international tax negotiations on Thursday, backing down from its earlier call for a 21% minimum rate.
Treasury Secretary Janet Yellen first proposed a 21 percent global corporate minimum tax in April as part of President Joe Biden's $2.2 trillion infrastructure spending proposal.
Biden wants to pay for the American Jobs Plan by increasing the corporate tax rate to 28 percent from the current 21 percent.
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WNU Editor: Not going to happen. Too many governments, companies, and very rich elites will move heaven and earth to make sure this does not happen.
More News On The U.S. Proposing A Global Minimum Corporate Tax Rate Of 15%
U.S. proposes global minimum corporate tax rate of 15%, with an eye on something even higher -- CNBC
Biden administration proposes global minimum tax of at least 15% -- CBS
US proposes 15 per cent global minimum tax rate for companies -- SKY News
Treasury pitches global minimum tax rate of at least 15 percent -- The Hill
3 comments:
This is an other part of the "universalist" wishing list. Well, when we are talking about that, we are not talking about real problems.
They proposed 15% after backing off of 28%. They are very transparent. They were trying the door in the face technique or they really want 28%.
By proposing 15% and establishing it into international law and setting precedent, they would get what they want. They will have a precedent and then once set they will inch it upwards a few percentage points at a time, There will always be an emergency necessary to raise taxes.
If it is the debt, they will tax more to reduce the debt and within 3 years at most increase spending so much that any tax increase are eaten up and no longer reducing the debt. That is why these people belong on Devils Island.
Or there will be a novel virus or a war on poverty or something .
The Fed has been taking hits on its credibility.
Paul Volcker
Alan Greenspan
Ben Bernanke
Janet Yellen
Jerome Powell
Alan Greenspan attended ta baseball game with Bill Clinton to make sure he was reappointed. He also married Andrea Mitchell of the 60 minutes Trump interview. You have to wonder how smart he is. Maybe marriage to Mitchell is more about co0mpanionship than seeing eye to eye politically?
Bernanke was supposed to be a chip off the block of Greenspan and Greenspan was suppose to be a chip off the block of Volcker and that was all suppose to be reassuring. None of them (Greenspan or Bernanke) saw the mortgage crisis? It is bad enough that I wonder how smart Volcker was.
Since 2008 the Fed has done QE1, QE2, QE2, Qeternity, Twist. Now they are buying stocks of companies in the stock market. How is that going to last without there being major corruption?
Plus the Fed did something really evil. It kept interest rates at zero for years to0 help out Obama. As soon as Trump was elected they raised the interest rates. Rates need to come up. They should have already come up a few years before Trump was elected.
Janet Yellen got picked, because she was a woman. Did not like it at the time, but now she is back and she is showing her8self to be an idiot, she might have been book smart in college, but everything she has said in the last several months has shown she does not have a lick of sense.
And another thing. Why do we want to imitate the G7 average. Germany and France do not work. Germany looks like it works, but in reality it does not and it is dying a slow death. Merkel was kind enough to speed things up. Germany is a country so corrupt that the military is kaput and the people do not have kids, because of the cost of living. France is the same way except their military is credible. But they are crying for help in North Africa whereas in the 1980s they needed no help.
Agreed@wnu
This will never happen
It's borderline retarded/shows how little the Biden administration understands about global business, and it reeks of desperation
The US is in free fall since trump is out of office..
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