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So locations that benefit from <15% tax rates want to avoid it. Hardly a surprise. It might of been an interesting article if they had a rationale beyond "In t

So locations that benefit from <15% tax rates want to avoid it. Hardly a surprise. It might of been an interesting article if they had a rationale beyond "In the UK, Chancellor Rishi Sunak is worried that banks based in London, which he says pay adequate tax, will be wrongly dragged into the 15% rate." The entire point of this tax minimum is 1) No countries are excepted so they dont attract investment/HQ purely on tax rates. or 2) Countries that dont agree face other punishment that outweighs point 1. Personally I think its quite selfish if countries dont sign up to this. Its much needed and capitalism greatly benefits from "a level playing field" (also a core tenant) as it tends to focus innovation to areas that matter, over company X has a market advantage because they are headquartered in the Cayman Islands and can buy market share over domestic company paying 25% on profits.

briandear 5y ago
Why shouldn’t a country be selfish? Isn’t that the point of a country: to promote the interests of the citizens of that country? It’s selfish that France doesn’t send me free Champagne. “Selfishness,” or in other words “self-interest” is what drives markets to efficiency. Minimum tax rate agreements are the same thing as a price floor — and have similar effects. It’s essentially a subsidy for high tax countries. How is it the fault of Ireland that France has a higher tax rate? Why should the Irish pay out of their pocket to bolster the treasury of France? What’s in it for Ireland?
- wolverine876 5y ago
  > Why shouldn’t a country be selfish? Why shouldn't everyone be selfish? Because other people matter, and because if people work together and cooperate, which includes making some sacrifices, then everyone gets better results in the long run. > Isn’t that the point of a country: to promote the interests of the citizens of that country? That's one view (nationalism, if I'm using the term correctly), but certainly not the only one. There are higher purposes than one's personal interests.
  - refurb 5y ago
    Being selfish and cooperation are not exclusive.
  - AlexTWithBeard 5y ago
    We can say that people should not be selfish all the time. That will not change a simple fact: people ARE selfish. Yes, generally people do want to help those in need - usually in exchange for some respect and karma improvement. The "give the money and fuck off with your advice" approach won't cause much compassion.
    - wolverine876 5y ago
      > We can say that people should not be selfish all the time. That will not change a simple fact: people ARE selfish. People are selfish and generous, angry and compassionate, courageous and scared. None of those things are more fundamental than the other. We are biologically the same as the saints and sinners, as the people who burned witches at the stake and the ones who risked their lives to save others. You can choose the best or worst angels of your nature; we each can. It's perverse to claim, against all evidence, that we are defined only by the worst in us. To take away our free will and choice. And for what? To provide an argument for a political movement?
- shkkmo 5y ago
  > What’s in it for Ireland? Participation in the global economy.
- 8note 5y ago
  I would say because those countries have benefits from free trade? An equivalent would be for high tax those countries to put very high tariffs on tax havens
- Gustomaximus 5y ago
  > Why shouldn’t a country be selfish? As a broad term should should be self interested absolutely. In this regard it needs ot be recognised as selfish for little good reason and potentially very bad ones for the greater system. There clearly is a short term value in dropping tax rates for countries like Ireland, but medium/long term this means is other countries follow their rates down, so there is little long term advantage and your broking the system in chasing said advantage for a nation. > Why should the Irish pay out of their pocket to bolster the treasury of France? This is the core of the problem, Ireland is taking revenue from France. Im not sure if you aware of things like the 'Double Irish' (google if you dont as its core part of the problem) but profits being made in a country like France are artificially transferred to a low tax country so France doesn't get the tax they should on profits in their own country. This is in itself a ethical issue but if you like capitalism how long do you think there will be open international trade if this system continues and if corporate tax rates continue to drop? Countries will increasingly be unwilling to allow open global trade if they cant run their country to the rules they wish, this in itself should worry anyone that believe global trade is a good thing.
AdrianB1 5y ago
Capitalism is not about equalizing everything, otherwise there would be no competition on anything. Don't take "level playing field" with "equal everything". At the same time having the most economically developed countries dictate conditions that make other countries very unattractive is bad. Without tax attractiveness some countries will remain just some shit holes nobody wants to go.
- dragonwriter 5y ago
  > Capitalism is not about equalizing everything Capitalism isn't about equalizing anything. > Don't take "level playing field" with "equal everything". That’s kind of irrelevant, because capitalism isn’t about a level playing field either.
  - Gustomaximus 5y ago
    I would say a level playing field is a central concept of good capitalism. But what you replied to they act like this would make everything equal, its the opposite, it should bring out the best in the system. For a simplified example, the rules of a game like chess make it a level playing field. It doesn't make all players equal, it makes the better player clearly that.

briandear 5y ago

Why shouldn’t a country be selfish? Isn’t that the point of a country: to promote the interests of the citizens of that country? It’s selfish that France doesn’t send me free Champagne. “Selfishness,” or in other words “self-interest” is what drives markets to efficiency. Minimum tax rate agreements are the same thing as a price floor — and have similar effects. It’s essentially a subsidy for high tax countries. How is it the fault of Ireland that France has a higher tax rate? Why should the Irish pay out of their pocket to bolster the treasury of France? What’s in it for Ireland?

wolverine876 5y ago
> Why shouldn’t a country be selfish? Why shouldn't everyone be selfish? Because other people matter, and because if people work together and cooperate, which includes making some sacrifices, then everyone gets better results in the long run. > Isn’t that the point of a country: to promote the interests of the citizens of that country? That's one view (nationalism, if I'm using the term correctly), but certainly not the only one. There are higher purposes than one's personal interests.
- refurb 5y ago
  Being selfish and cooperation are not exclusive.
- AlexTWithBeard 5y ago
  We can say that people should not be selfish all the time. That will not change a simple fact: people ARE selfish. Yes, generally people do want to help those in need - usually in exchange for some respect and karma improvement. The "give the money and fuck off with your advice" approach won't cause much compassion.
  - wolverine876 5y ago
    > We can say that people should not be selfish all the time. That will not change a simple fact: people ARE selfish. People are selfish and generous, angry and compassionate, courageous and scared. None of those things are more fundamental than the other. We are biologically the same as the saints and sinners, as the people who burned witches at the stake and the ones who risked their lives to save others. You can choose the best or worst angels of your nature; we each can. It's perverse to claim, against all evidence, that we are defined only by the worst in us. To take away our free will and choice. And for what? To provide an argument for a political movement?
shkkmo 5y ago
> What’s in it for Ireland? Participation in the global economy.
8note 5y ago
I would say because those countries have benefits from free trade? An equivalent would be for high tax those countries to put very high tariffs on tax havens
Gustomaximus 5y ago
> Why shouldn’t a country be selfish? As a broad term should should be self interested absolutely. In this regard it needs ot be recognised as selfish for little good reason and potentially very bad ones for the greater system. There clearly is a short term value in dropping tax rates for countries like Ireland, but medium/long term this means is other countries follow their rates down, so there is little long term advantage and your broking the system in chasing said advantage for a nation. > Why should the Irish pay out of their pocket to bolster the treasury of France? This is the core of the problem, Ireland is taking revenue from France. Im not sure if you aware of things like the 'Double Irish' (google if you dont as its core part of the problem) but profits being made in a country like France are artificially transferred to a low tax country so France doesn't get the tax they should on profits in their own country. This is in itself a ethical issue but if you like capitalism how long do you think there will be open international trade if this system continues and if corporate tax rates continue to drop? Countries will increasingly be unwilling to allow open global trade if they cant run their country to the rules they wish, this in itself should worry anyone that believe global trade is a good thing.

AdrianB1 5y ago

Capitalism is not about equalizing everything, otherwise there would be no competition on anything. Don't take "level playing field" with "equal everything". At the same time having the most economically developed countries dictate conditions that make other countries very unattractive is bad. Without tax attractiveness some countries will remain just some shit holes nobody wants to go.

dragonwriter 5y ago
> Capitalism is not about equalizing everything Capitalism isn't about equalizing anything. > Don't take "level playing field" with "equal everything". That’s kind of irrelevant, because capitalism isn’t about a level playing field either.
- Gustomaximus 5y ago
  I would say a level playing field is a central concept of good capitalism. But what you replied to they act like this would make everything equal, its the opposite, it should bring out the best in the system. For a simplified example, the rules of a game like chess make it a level playing field. It doesn't make all players equal, it makes the better player clearly that.