Why are Biden, Yellen, and other world leaders only worried about corporate tax rates when they discuss competitiveness?
Somehow, it is supposedly a great achievement that 136 countries got together to agree to a 15% minimum corporate tax.
Nearly 140 countries agree to a minimum global corporate tax rate of 15 percent
US Treasury Secretary Janet Yellen hailed the deal as "a once-in-a-generation accomplishment for economic diplomacy."
Yellen congratulated countries that "decided to end the race to the bottom on corporate taxation" and expressed hope that Congress will quickly implement the deal in the US.
"International tax policymaking is a complex issue, but the arcane language of today's agreement belies how simple and sweeping the stakes are: When this deal is enacted, Americans will find the global economy a much easier place to land a job, earn a living, or scale a business," she said in a statement.
Why aren't they concerned about all other competitive disadvantages or advantages?
Should China, India, Mexico, and others be forced to substantially raise their minimum wage to the U.S. rate, or should the U.S. substantially lower ours to take away the competitive disadvantage?
Should we make sure the payroll taxes and benefit costs in the U.S are no higher than all the other countries in these agreements to take away the disadvantages and level the playing field?
Should we make sure all countries have the same laws and regulations to make sure American companies don't have any disadvantages?
Should we make sure government bureaucracy costs in the U.S are reasonable and that government workers don't get more salaries and benefits than private companies so other taxes don't cause competitive disadvantages? Democrats always claim they care about income inequality and fairness, so I am sure they will be willing to cut government workers' salaries and benefits to be comparable to private workers, won't they?
Democrats claim they care about the wealth gap, so why do they continually reduce the competitiveness of the rest of the country by confiscating more money for themselves when they are already richer than almost all of us? Aren't they ashamed of themselves to be so privileged when they produce nothing but bureaucracy? Isn't that unfair?
9 of the '100 richest places' are in the DC area
Should we substantially reduce the amounts paid for secondary and higher education to make it equal to other countries so the private sector doesn't have the disadvantage of paying higher taxes to fund this high spending when the results are so bad?
Why do we continually throw more money at education when the achievement results don't improve despite the largesse?
The US spends more on education than any other country, but students lag behind academically. Here's how much other countries spend and how well their students perform.
In 2017, the US spent $12,800 per student on public education, which is the second-highest amount spent per student of any country in the world. But when it comes to total spending, the comparison isn't remotely close. According to data from the National Center for Education Statistics, the US spent over $700 billion on public education in 2017 alone. To put that in perspective, you could add up the total GDP of Finland and Vietnam and you still wouldn't hit the amount the US spends on education. ...
Among the 34 OECD countries, the United States performed below average in mathematics in 2012 and is ranked 27th (this is the best estimate, although the rank could be between 23 and 29 due to sampling and measurement error). Performance in reading and science are both close to the OECD average. The United States ranks 17 in reading, (range of ranks: 14 to 20) and 20 in science (range of ranks: 17 to 25). There has been no significant change in these performances over time.
Why are Biden and other Democrats seeking to destroy the oil and coal industry if they are worried about competitiveness? Doesn't energy independence help ensure that we are more competitive than if we have to rely on OPEC countries and Russia?
One suggestion to level the playing field would be to reduce the number of lawyers per 100,000 people to help reduce the litigation costs on health care and everything in the U.S.
U.S. 396 per 100,000, Germany 191, France 84, Japan 24, China 16.
Think how much more reasonable our cost for health care and other things would be if we reduced the number of lawyers by 94% to get to Japan's level and 97% to get to China's level.
The reason that Biden, Yellen, and world leaders only talked about corporate taxes is because that's all they care about. They believe that this 15% minimum tax will raise $150 billion each year, and they always want more money. They all pretend higher taxes don't reduce economic growth, but that is just pure economic ignorance.
Chris Wallace, on Fox News Sunday, asked Rick Scott why he didn't want to repeal the Trump tax cuts since the CBO predicted the tax rate cuts would cost $2 trillion over ten years. Why do Wallace, most journalists, and other Democrats still use predictions instead of the actual revenues? The answer is that they know that the revenues have increased substantially, and results don't matter as they campaign for the leftist agenda to destroy America.
If they showed a chart showing how revenues have increased substantially after the rate cuts, $700 billion in FY2021 alone, the public would support the lower rates, and the media can't afford the truth to get out.
It is the same reason they use inaccurate computer predictions to spread the dire warnings on climate change. If the public saw a chart showing temperatures for the last 1,000 years, they would see that the temperatures are no warmer today than during the medieval warming period a thousand years ago, and the public can't be allowed to see the truth.
Fox News Host Confronts GOP Sen. Rick Scott Over Trump Tax Cuts Adding Trillions to Deficit
Fox News host Chris Wallace on Sunday confronted Republican Senator Rick Scott of Florida over former President Donald Trump's tax cuts, which were estimated to increase the U.S. deficit by $1.5 trillion over the course of a decade.
Wallace asked the senator the same question again: "When Donald Trump was president, you had the tax cut, which added $2 trillion to the deficit, according to the Congressional Budget Office.
There are great reasons why we have the 10th Amendment in the U.S. so states can set their own tax rates instead of having D.C. rates. The founding fathers wanted the people to make the decisions, not a powerful government.
There is also a reason why the United States fought the Revolutionary War to achieve independence from the tyrannical British king. Why would we want to go backward to cave to the U.N. or some other international body to determine our minimum corporate tax rates or anything else? The founding fathers would be turning over if they see how much U.S politicians cave to other world leaders.
The Constitution starts, "We the people of the United States" not "we the people of the world." Trump was right when he said Americans come first in everything we do, and he also recognized that China, Russia, France, Germany, and all other countries should consider their countries and peoples first.
Saying Americans come first does not mean we don't care about others, but we should always be most important.
Let's go Brandon to save America!