The Case Against a Global Corporate Tax Rate

The G7 recently reached a historic decision favoring a global corporate tax rate, aligning interests from the US government and the European Union. They want to change how corporations pay their taxes and eliminate the competition between countries with lower rates. What is behind this decision? What are the possible consequences of implementing a global tax? But most importantly, why is this such a terrible idea?

#GlobalTax #EuropeanUnion #JoeBiden

LEARN LIBERTY:

[ErnaSolbergXXX]

If we have tax heavens, we also have tax hells

[wesjones]

Argument for global tax rate: places with lower taxes have more advantage for business growth.
Argument against global tax rate: places with lower taxes have more advantage for business growth.

[hariseldon]

The lowest rate mentioned of 9% is still too high. Profits are a source of investment, productivity improvement and growth. Sending that money to government is a waste. Instituting a global tax rate is collusion, which is considered bad when companies do it. In the US we have some very bad laws that are supposed to be about preventing collusion. Tax rate competition is a good thing.

[homewall]

Avoid competition. Avoid risk. Avoid novel thinking. Do as central planners tell you, then you obey, and then you are relieved of having to think for yourself, act on your own behalf, be responsible for your choices, be productive and useful to others.

[BaNuj]

Beside global tax rate, this also violate privacy and security of privately owned companies.
Why do we need to provide irs or other fiscal/goverment institutions about: HOW, WHERE, WHEN, HOW MUCH, WHO do anything in our private companies?
The idea of private ownership and investments is that they are PRIVATE, not owned by goverment in any way.
In my country you need to provide invoice with informations about everything, and then at the end you need also calculate precisely in financial statements how much you own in taxes for that "pleasure of doing business".
They are so lazy, yet there is 2x more tax administration employees than there is entrepreneurs in this country [EU country]

We cannot let decide bureucrats lead our lifes and destroy our ability to express ourselves and do deals in business. Especially when the goverment intelligence sell drugs, participate in trafficking and sponsor wars and violence where they want.
We can't let them do this.

[marcocasario]

The IRS now helps desk texts office. They help the citizens to get there stimulus check faster and easier

[josholdham]

Redistribution of wealth by force is never a good idea

[PaulVarna]

Small companies can't afford tax havens and pay bigger taxes than big corporations anyways...

[doesitmatter]

Texas has a different tax rate than the other 49 nine stars on our flag. A great idea.

[RajanRaj-poxr]

What did the socialist economy give to Nepal?
Socialism of B.P?Mahendra King's socialism?
Socialism of Congress, Communists, Madhes?
Socialist to rule! And blaming to Capitalism!!

[OGDailylama]

When are people going to realize, corporations never pay taxes. The consumer always pay their taxes. This is moving us towards taxation through inflated cost of goods. #GoGaltNow

[lukepev]

So happy this channel is making videos again! Please keep it up!

[johnellistruman]

I just don't understand why they need minimum tax rate. It's like fixing interest rates, it won't work.

[misterchoc]

I agree with the general sentiment of the video. However one argument in favor of a global tax floor is that small businesses cannot compete with corporations that can move around freely. This distorts competition and favors larger companies.

[KKOPPONG]

The West is hell bent on shipping companies to other nations🤣

You increased minimum wage, factories got shipped to Asia. You tax where companies operate rather than where they are registered they’ll just move to wherever taxes are favourable.

[TracyII]

The only justifiable taxes are fees for service, which would link the taxes to corporations to physical buildings and infrastructure. In other words, corporate property taxes.
For example, a company that owns a factory in a given city could be charged the same base level property taxes as a residential unit in that city along with an additional charge for any environmental externalities created in its processes. And this would be regardless of the location of its headquarters.
Of course, I make this argument with the acknowledgement that many property related government institutions throughout the world, such as city owned water departments, should be privatized, but are not. So so long as they are government owned and operated, service fees are justified.
Corporate tax rates for the mere sake of being a cash cow for governments, is immoral.

[travelertime]

The Irish Tiger was the result of a trick play by an economic underdog. It became the home of all those offshore scammers who actually need some brick and mortar infrastructure. I was an important first down, giving Ireland a better field position, but it was a trick play that they only can use once, before the league changes the rules by leveling the playing field for everyone.
Remember: " "Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power."

[WendelRocha]

Amazing video! Greetings from Brazil! 🇧🇷

[warriorz]

Yh no. Country like mines benefits from little to no corporate tax. It made so many people start small businesses for extra cash.

[barncheng]

I think the governments should try to block tax loopholes instead of introducing a global tax rate. Multinationals are great in “avoiding” taxes through loopholes so a global tax rate just won’t work.