Utopia Talk / Politics / Biden talks World listens

Im better then you 2012 UP Football Champ	Tue Jun 08 01:05:59 Isn't it nice to gave a POTUS that is respected and listened too. http://www...-corporate-tax-rate/a-57786417 G7 agrees 'historic' global minimum corporate tax rate Finance ministers from the world's richest countries have agreed to back a corporate tax rate of at least 15%, to stop tax havens competing to attract tech giants like Amazon and Facebook. Finance ministers from the G7 nations on Saturday pledged to commit to a minimum global level of corporate tax of at least 15%. The move aims to get multinationals — particularly tech giants — to pay more into government coffers hit hard by the pandemic. "I am delighted to announce that today after years of discussion G7 finance ministers have reached a historic agreement to reform the global tax system," said British Finance Minister Rishi Sunak, who was chairing the talks in London. "It's complicated and this is a first step," Sunak said. Historic deal' hailed German Finance Minister Olaf Scholz described the deal as "historic." "It is very good news for tax justice and solidarity and bad news for tax havens around the world," Scholz said in a statement. "Companies will no longer be in a position to dodge their tax obligations by booking their profits in the lowest-tax countries." French Finance Minister Bruno Le Maire said the group's commitment was a "starting point," pledging to hike it further. "This is a starting point and in the coming months we will fight to ensure that this minimum corporate tax rate is as high as possible," said Le Maire. US Treasury Secretary Janet Yellen said the move would "help the global economy thrive, by leveling the playing field for businesses and encouraging countries to compete on positive bases." What is the global minimum corporate tax? The US-led proposal focuses on creating a global minimum corporate tax rate as well as special rules to change how much tax companies pay and where it is paid. US President Joe Biden had called for a unified minimum corporate tax rate of 15%.
kargen Member	Tue Jun 08 04:07:58 Every country in the G7 already has a corporate tax rate over 15% and countries that have lower tax rates can't easily be forced to raise those rates without all kinds of concessions. President Biden wants the US corporate tax rate to be 28% so companies still will have incentives to move to other countries. That was a waste of a Saturday.
Rugian Member	Tue Jun 08 08:26:33 Kargen beat me to it. The other G7 countries lose nothing from this; 15% or higher was where they already were anyway and theyre still competitive when compared to Biden's proposed tax hikes. Meanwhile, Ireland and other non-G7 countries will continue to siphon off multinationals, because 12.5% beats 28% any day of the week. Empty gesture from an empty suit.
Dukhat Member	Tue Jun 08 08:28:35 Cuckservatives sucking that billionaire corporate cock like always. “Muh capitalism!”
Rugian Member	Tue Jun 08 08:39:04 As an part-owner of those "billionaire corporations," it is entirely in my interest to not see corporate earnings be double-taxed. Meanwhile, Dukhat is going to be celebrating corporate taxes shooting through the roof while simultaneously wondering why his 401(k) is suddenly tanking.
kargen Member	Tue Jun 08 17:38:22 The scary part hasn't even been mentioned here. France has suggested the 15% is just a start and it should be higher. That isn't the scary part either as concerning as that might be. The scary part is they mentioned the taxes collected would go into a global fund and future discussions would determine how to distribute those funds.
Forwyn Member	Tue Jun 08 18:54:07 Cuckhat doesn't have a 401k, 401ks are for middle class cuckservatives. Dukhat monitors his portfolio from his megayacht while his wife massages their third wheel.
nhill Member	Tue Jun 08 22:37:23 > Meanwhile, Dukhat is going to be celebrating corporate taxes shooting through the roof while simultaneously wondering why his 401(k) is suddenly tanking. lmao, I can picture it
Dukhat Member	Tue Jun 08 23:19:14 Corporate taxes only affect values in the short-term. Long-term, the value of stocks will be the same because values is fundamental. "conservatives" today are so absolutely fucking retarded Especially nhil after making account just to talk up crypto before it started crashing. Stupid shits all around.
Dukhat Member	Tue Jun 08 23:21:55 their value is determined by the fundamentals* Which is what you should care about if you actually understood like anything about 401k's and the economy. "But muh 401l loL I kNoW EcOmIcS!"
Forwyn Member	Wed Jun 09 00:26:49 "Airlines have 5% profit margins and railroads have 50% profit margins, they will behave the same way with corporate tax hikes, because fUnDaMeNtAlS" lol
Rugian Member	Wed Jun 09 08:12:02 Dumbasses like Dukhat actually think that you can tax the shit out of something and it will have no effect whatsoever. Lol Let's say corporate taxes jump to 28%. Then what's left in profit gets distributed to investors, who pay 24% or so on that amount. Let's assume that state taxes are 5% on both the front and back end. That means that for every dollar of profit a company makes, government is taking over 52 cents. And that's on top of SS and Medicaid taxes. Then you have Democrats who also want to tax wealth and stock transactions. Add all of these up and soon it becomes easy to see the government is killing investment. But Dukhat thinks "doesn't matter, nothing after EBIDTA matters, cuz fUnDaMeNtAlS." What a retard.
nhill Member	Wed Jun 09 09:42:40 > Especially nhil after making account just to talk up crypto before it started crashing. I've had this account for around 20 years. And, I know all subtlety is lost on your pea brain, but let's go over this again. I never recommended even once someone invest in crypto because, as I said in the first post, it can drop up to 80% suddenly. We might be in a bear market for the rest of the year, who knows. But that has nothing to do with the exemplary performance DeFi has exhibited both before, during, and after the crash. Your simply proving my thesis was right and not even aware of it, lol. So clueless.
nhill Member	Wed Jun 09 09:44:53 > their value is determined by the fundamentals* Which is what you should care about if you actually understood like anything about 401k's and the economy. LMAO and what impact does increased corporate tax rate have on things like share buybacks and dividends? Damn, this is embarrassing to see Duckhat tailspin like this. Such a 1-dimensional mind. My 7 year old knows more about economics then him (not facetious).
hood Member	Wed Jun 09 09:53:25 "Let's say corporate taxes jump to 28%. Then what's left in profit gets distributed to investors, who pay 24% or so on that amount. Let's assume that state taxes are 5% on both the front and back end. That means that for every dollar of profit a company makes, government is taking over 52 cents. And that's on top of SS and Medicaid taxes." Today we learn about math and realize that its 48 cents.
Rugian Member	Wed Jun 09 10:44:53 Today we learn about math indeed. $1.00 x -(28% + 5%) = $0.67 remaining $0.67 x -(24% + 5%) = $0.48 remaining Government takeaway is $1.00 - $0.48 = $0.52
hood Member	Wed Jun 09 10:57:23 oh, "front and back end". yeah, I missed a 5%.
Habebe Member	Thu Jun 10 05:05:43 Im not sure this is a win. Good idea, good spirit. But will it accomplish the goal? The goal is to have corporations pay taxes in their real countries. Like Apple to pay taxes in the US and not in Ireland. Does this accomplish that?
kargen Member	Thu Jun 10 16:47:50 Not at 15% it won't.
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