GOP Fights Biden Deal That Lets Other Countries Tax US-Based Profits

[ptif219]

So now democrats want us to pay taxes to other counties. Time to get rid of Yellen


https://www.theepochtimes.com/gop-fi...=BonginoReport

The Republican-controlled House of Representatives told the Biden administration in no uncertain terms last week that it won’t approve the deal that Treasury Secretary Janet Yellen negotiated with more than 130 other countries to align U.S. corporate tax laws with those developed by the Organisation for Economic Co-Operation and Development (OECD).

In one of the more unusual tactics to bring the United States into compliance with international agreements, the Biden administration signed on to a global tax agreement that includes establishing a minimum corporate tax rate on multinationals of 15 percent, which gives Congress the choice of either approving the deal or watching U.S. companies suffer from foreign tax penalties.


While Yellen called the move “a once-in-a-generation accomplishment for economic diplomacy,” the agreement has its critics.

“The OECD agreement is a bad deal for American workers and families, and it has no path forward in Congress. The Biden Administration cannot override Congress’s sole tax-writing authority under the Constitution or turn that power over to foreign bureaucrats,” Rep. Jason Smith (R-Mo.), chair of the tax-writing House Ways and Means Committee, stated on Feb. 2.

“I think the Biden administration thought they had more political leverage than they did with these rules,” Daniel Bunn, president of the Tax Foundation, a nonprofit analytical group, told The Epoch Times. “I think that was a key mistake that they thought they could get it through Congress with the majority they had, and that was an error on their part.”

[Yakuda]

So now democrats want us to pay taxes to other counties. Time to get rid of Yellen


https://www.theepochtimes.com/gop-fi...=BonginoReport

I wonder what it would take for people to realize that leftists actually hate America and Americans. Look how they treat blacks who don't want to stay on the leftist plantation.

[floridafan]

So now democrats want us to pay taxes to other counties. Time to get rid of Yellen


https://www.theepochtimes.com/gop-fi...=BonginoReport

Your kind hates when corporate America pays their fair share of taxes, dont you?

[Nordberg]

American companies pay taxes to other nations where they do business. Their country is not owned by corporate power. They pay taxes like any other company.

[ptif219]

I wonder what it would take for people to realize that leftists actually hate America and Americans. Look how they treat blacks who don't want to stay on the leftist plantation.

Why do Blacks vote for democrats when democrats destroyed their families

[ptif219]

Your kind hates when corporate America pays their fair share of taxes, dont you?

You do not understand how it works. When Biden and democrats raise taxes on corporate America it is actually another tax added to the consumer. It hurts the poor and the middle class not the rich

[ptif219]

American companies pay taxes to other nations where they do business. Their country is not owned by corporate power. They pay taxes like any other company.

Biden should not encourage this

[Yakuda]

Why do Blacks vote for democrats when democrats destroyed their families

Because dems have given them handouts

[Nordberg]

Biden should not encourage this

How does one "encourage" this? It has been happening for many decades. Sadly, we give tax write-offs for our companies that pay taxes abroad. We take the hit, as usual.

[floridafan]

You do not understand how it works. When Biden and democrats raise taxes on corporate America it is actually another tax added to the consumer. It hurts the poor and the middle class not the rich

Explain how you refuse to raise taxes yet want deficit reduction. If you are gonna say "reduce spending". Tell us just how that will happen.

[Concart]

Biden should not encourage this

He isn’t. You have a complete and utter misunderstanding of the article you posted.

[Nordberg]

You do not understand how it works. When Biden and democrats raise taxes on corporate America it is actually another tax added to the consumer. It hurts the poor and the middle class not the rich

You, as usual, have it wrong. America allows corporations to write taxes paid to other countries off their US taxes. You got all angry for no reason.

[ptif219]

How does one "encourage" this? It has been happening for many decades. Sadly, we give tax write-offs for our companies that pay taxes abroad. We take the hit, as usual.

Biden should support our companies not try to destroy them

[ptif219]

Explain how you refuse to raise taxes yet want deficit reduction. If you are gonna say "reduce spending". Tell us just how that will happen.

It is easy stop with the pork for starters. Stop giving money to non-government organozations like Planned Panrenthood and NPR and PBS

[ptif219]

He isn’t. You have a complete and utter misunderstanding of the article you posted.

Biden and Yellen are supporting it