Quote:
Originally Posted by tis
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.
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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