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Old 04-07-2021, 10:28 AM   #23
FlyingScot
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Originally Posted by tis View Post
Oh but the latest is Biden wants us to pay a global tax to support other countries. Nothing new but being brought up again. We seem to pay for the rest of the world but not ourselves.
No--this is the exact opposite of what the global minimum tax would do. Today US multinationals use accounting tricks to shift profits to places such as Ireland where there is a lower tax rate. In these cases Ireland is pulling tax dollars from us. A minimum tax and other changes such as Biden is proposing would pull international tax dollars back into the US.

Bristol Myers is a great example of the types abuses Biden is trying to stop: https://www.nytimes.com/2021/04/01/b...taxes-irs.html
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