Should there be a global minimum corporate tax rate?
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GJ9000 — 4 years ago(June 05, 2021 11:45 AM)
Both, the latter especially.
Generally speaking if some proposal starts with global
or international, I won't be for it, won't believe in it,
don't think it will accomplish its ostensible purpose
whether I favor that purpose or not.
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MortSahlFan — 4 years ago(June 05, 2021 01:35 PM)
They'll always find loopholes, putting things in someone else's name, just like all the bank accounts in The Cayman, Switzerland, etc.
I think the essentials should be guaranteed, especially the US (the only country who doesn't) where health care, housing, higher education, cash assistance for the unemployed. It would cost us less in the future, especially health care, since 90% of health care costs are from the final five years. And with a global economy, we need higher education (on a merit system) so we can compete. The same people who cry "All the doctors in the US are foreign" need to understand the poor countries they come from still offer free college. And then from a common sense point of view. Don't you want citizens who are NOT dumb? I read an article, but I don't remember the stats, but it talked about how people are becoming more illiterate, lower retention and comprehension rates. And then there's the dynamic of internet language, the non-stop abbreviations and acronyms and slang that differs from city to city, and people won't admit they don't know a word, so people are operating together with miscommunication.
And then with automation, and a global economy where one can be paid outside of the US… More and more products are intangible. I could be paid for consulting from another country, and with so many people ordering items from the internet, you might not even be participating much with the US… I think UBI would be a good idea, and if they have to cut some of the military budget, so be it.
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MortSahlFan — 4 years ago(June 05, 2021 10:23 PM)
That's too simplistic.. Let's say there was one corporate tax rate. The first thing countries would do is inflate or deflate their currency, since some countries (China, for example) are manufacturers, while a country like the US is a consumer-based economy.
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DrakeStraw — 4 years ago(June 05, 2021 03:22 PM)
There should not be global laws of any kind. ¿Why are so many countries opting out of the International Criminal Court? It's politically driven, just like tax law would be and climate change compliance already is. China gets away with murder.
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правда — 4 years ago(June 05, 2021 05:08 PM)
It's basically larger richer countries picking on smaller poorer countries who don't have much to offer other than being tax havens but I don't think there is any harm in trying it out. It isn't binding so it could all unravel with a change of power in Congress.
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Platonic_Caveman — 4 years ago(June 05, 2021 05:13 PM)
As was discussed, your term "global" might be the problem here.
What government entity could oversee such a tax? It's certainly beyond the purview of Washington or London or Brussels.
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Corwin — 4 years ago(June 05, 2021 07:17 PM)