US wants a 15% minimum global tax rate or higher. (illegal, regular, border)

[anononcty]

The US wants a 15% or higher minimum global tax rate.

https://www.cnbc.com/2021/05/20/us-p...en-higher.html

The Treasury Secretary wants to disincentivize relocating. Also a proponent of an 'international tax architecture'

Creepy, one world governmentish

[BaptistFundie]

This administration gets more and more embarrassing every day.

[Salty Water]

Originally Posted by anononcty

The US wants a 15% or higher minimum global tax rate.

https://www.cnbc.com/2021/05/20/us-p...en-higher.html

The Treasury Secretary wants to disincentivize relocating. Also a proponent of an 'international tax architecture'

Creepy, one world governmentish

Correction, please. The U.S. doesn't want this, the Administration wants this.

[TheseGoTo11]

This is sad, wishful thinking. Ireland's economy is built around its low corporate tax rate, what are they supposed to do? Raise it and lose jobs?

Troubling that this administration is veering away from just being liberal and is now in some kind of policy fantasyland.

[GoldenPineTree]

The global elites are using this pandemic to keep us from moving around. Whether this was planned from the beginning, or a convenient opportunity, anyone can speculate. But perhaps are gone the days of blissful travel. Maybe the elites were tired of seeing the regular folks hogging all the spots?

[WK91]

I’m conflicted on this. I don’t like government overreach, so I’m a proponent of lower taxes so they have as little money as possible to waste on stupid programs.

But I never liked the elites being able to park their wealth in tax havens outside the US, because the common man doesn’t have that luxury. It costs a lot of money to gain a second residence and/or passport, then being able to move money isn’t cheap either.

I’m also very concerned about the foreign income tax exclusion being taken away. If they ever did that, I certainly wouldn’t ever work abroad again.

[Mr.Retired]

Response: Opinion

If this keeps up ..............................Americans will be crossing over the border illegally into Mexico for a better life!

[ottomobeale]

Guess I am a communist. I would be for something like this. Not really against Ireland and low taxes. More against the hyper rich in the Caymans paying nothing.

I would favor something that taxes income going out to people not in a taxing country. Not sure if it is workable at all tho.

[TMSRetired]

Originally Posted by ottomobeale

Guess I am a communist. I would be for something like this. Not really against Ireland and low taxes. More against the hyper rich in the Caymans paying nothing.

I would favor something that taxes income going out to people not in a taxing country. Not sure if it is workable at all tho.

If we had a competitive tax rate compared to other countries then money would not be fleeing the US.

[CrowGirl]

Originally Posted by TMSRetired

If we had a competitive tax rate compared to other countries then money would not be fleeing the US.

Labor costs also factor into companies relocating, if you ar including that in the flight of money abroad.