First they begin with the corporations who rationally avoid taxes any way they can...then they apply that to the citizens of the world: The new rules would mean higher tax burdens for large multinational firms but would also make it harder for countries like Ireland to attract foreign direct investment with the promise of ultra-low corporate tax rates.
“We welcome the recent progress on addressing the tax challenges arising from digitization and endorse the ambitious program that consists of a two-pillar approach,” the draft communique said. “We will redouble our efforts for a consensus-based solution with a final report by 2020.”
Britain and France have been among the most vocal proponents of proposals to tax big tech companies that focus on making it more difficult to shift profits to low-tax jurisdictions, and to introduce a minimum corporate tax.
This has put the two countries at loggerheads with the United States, which has expressed concern that U.S. Internet companies are being unfairly targeted in a broad push to update the global corporate tax code.
“The United States has significant concerns with the two corporate taxes proposed by France and the UK,” U.S. Treasury Secretary Steven Mnuchin said on Saturday at a two-day meeting of G20 finance ministers in the Japanese city of Fukuoka.
“It sounds like we have a strong consensus” about the goals of tax reform, Mnuchin later said.
“So now we need to just take the consensus across here and deal with technicalities of how we turn this into an agreement.”
www.reuters....e-idUSKCN1T903D
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Poster Comment:
Today's politicians are a continuing legacy of bandit gangs of yesteryear, gangs that roamed and plundered the countryside because their members were too stupid and inept to farm, hunt or otherwise to survive on their own.
Taxes are forced wealth sharing with second-raters who otherwise might just clog up skid row but as bureaucrats guided by volumes of regulations rather than commonsense they are given an ostensible role in society,
Homelessness, crime, inter-societal conflicts demonstrate today's politicians are just as inept as gang leaders of the past. Today's gang-following bureaucrats are not much help.
Good time to have geeks determine needs of individuals and arrange to meet them. Get rid of money and taxes. Much better to have teams of computer programmers catalog people's skills and talents, determine people's needs then mobilize trained personnel and resources to ensure everyone's basics of food, shelter, etc., are met, assigning merit points to those meeting goals successfully, allocating performance merit points for perks beyond basics