A Global Minimum Tax on Corporations?

G-7 Leaders Hammer Out A Global Minimum Tax For Companies

Here’s what's up--

The agreement, reached one week ago, marks a major step forward, but challenges still remain: The G-7 will now try to reach a consensus with the broader Group of 20 countries when they meet in Italy next month, as well as with the Organization of Economic Cooperation and Development, a group of 37 mostly wealthy countries.

As part of Biden's infrastructure plan, he wants to tax corporations at 28% from Trump's 21% and wants corporations to pay for his infrastructure plan.

Profit-shifting by American and foreign multinationals costs the US tens of billions of dollars a year as they remain undeterred from seeking out tax havens in places such as Bermuda, the Cayman Islands, Ireland, and Singapore.

Read about it...

Janet Yellin and Biden seem to be right on this global minimum tax goal but I will have to study it. As they are raising the coporate tax rate, it is only fair to tax all that offshoring and hiding the amount of taxes they need to pay this country. Will get back on this one.

President Trump Wins at G-7

Trump Scores Three Big Wins at G-7

According to Fox News--they’ve pulled off three big scores in Biarritz.

• Topping the list is Iran. Iran is a major worry for the G-7 this summer, overshadowing even Britain’s withdrawal from the European Union.

•   The G-7’s second success was riding out the Russia debate. Trump again brought up the possibility of readmitting Russia, who was kicked after annexing Crimea in 2014.

… And finally:

• There was Macron on Monday, calling out China’s intellectual property theft, trade dumping and currency manipulation. The solid front on China was the third big win in Biarritz. With China’s assault on rules and freedom and Russia’s aggression, the G-7 is needed more than ever.

The liberal media will work to categorize the trip as a failure and in doing so will likely hide these wins.[1600 Daily]