IN the NEWS - GLOBAL Tax Policy? Uh Oh.....

 ***The point of this post is not to debate tax rates or policy...BUT RATHER Demonstrate that the 2nd beast of Revelation can exercise power over the world.....think about it: What business is it of the U.S. as to what OTHER nations do as it relates to their tax policy? .....this is just an attempt to get more money for politicians to keep squandering on buying votes via spending.....but the greedy incompetent politicians spending is why we are trillions in debt in the first place.....btw, the Beast Power is loving this class warfare rhetric as it fits into it's recent New Green Marxist Ideology...

And I beheld another beast coming up out of the earth; and he had two horns like a lamb, and he spake as a dragon. And he exerciseth all the power of the first beast before him, and causeth the earth and them which dwell therein to worship the first beast, whose deadly wound was healed. Revelation 13:11,12

"Finance ministers from the Group of Seven nations have backed the Biden administration’s plans to set a global minimum tax of 15% on corporate earnings. Outside the G7, the plan has faced opposition from tax havens like Ireland.

 

US Treasury Secretary Janet Yellen met with her counterparts from Canada, France, Germany, Italy, Japan, and the United Kingdom in London on Saturday, where she made her administration’s case for a global minimum corporate tax rate of 15%. 

The ministers agreed to back her proposal, with UK finance minister Rishi Sunak announcing the deal shortly after the meeting. 

“G7 finance ministers… after years of discussions, have 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,” Sunak said in a video posted to Twitter.

Once implemented, the plan will make it more difficult for corporations to set up operations abroad, where tax rates are often dramatically lower. The US, for example, charges a flat corporate tax rate of 21%, which President Joe Biden has proposed – against Republican outcry – hiking to 28%.

A US multinational seeking to avoid this rate can simply locate in a country like Ireland, where they pay only 12.5%, one of the lowest rates in Europe. All of the G7 nations already tax corporations at or above the proposed 15% rate, meaning smaller nations will be pressured to hike their rates if Biden’s plan is implemented.

Ireland has already thrown cold water on the Biden administration’s plan. Finance Minister Paschal Donohoe told Sky News last month that his government has “significant reservations” about introducing a global minimum rate, claiming that such a move “means only certain countries, and certain size economies can benefit from that base.”  NW