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Or laws that primarily benefit a small number of rich countries, which is also a very common tactic. The latest big group move is to attack smaller nations comp

Or laws that primarily benefit a small number of rich countries, which is also a very common tactic. The latest big group move is to attack smaller nations competing with lower corporate income tax rates with an enforced minimum. The rich nations are trying to strangle their competitors through a globally mandated minimum corporate tax rate, wiping out a very lucrative path to rise (attract investment, businesses, jobs) for underdeveloped or otherwise poorer nations. It worked so extraordinarily well for Ireland they can't tolerate any more outcomes like that from smaller, weaker nations. They're not willing or able to go lower (Germany, France, the US, Japan, Australia, Canada, etc), so they're going to try to make sure nobody else can either.

dmix 5y ago
It'd be a tough sale in the US In Canada it's 15% federally: https://www.taxtips.ca/smallbusiness/corporatetax/corporate-tax-rates-2021.htm https://www.taxtips.ca/smallbusiness/corporatetax/corporate-... The US was 35% for years and is now 21% (+ 30% in California and 29% in NY). When combined with state/province rates (11-15% in Canada) making it more competitive with Canada: https://files.taxfoundation.org/20210504142352/25-Percent-Corporate-Income-Tax-Rate-under-Biden-Tax-Plan-25-Percent-Corporate-Tax-Rate-2021-US-Competitiveness.png https://files.taxfoundation.org/20210504142352/25-Percent-Co... And in the future: > a 25 percent federal corporate income tax rate would result in a combined average top corporate tax rate of 29.53 percent—higher than the 23.51 average among industrialized countries in the OECD. https://taxfoundation.org/25-percent-corporate-income-tax-rate/ https://taxfoundation.org/25-percent-corporate-income-tax-ra... The US should probably focus more on the endless loopholes, tax reductions, and corporate welfare.

dmix 5y ago

It'd be a tough sale in the US In Canada it's 15% federally: https://www.taxtips.ca/smallbusiness/corporatetax/corporate-tax-rates-2021.htm https://www.taxtips.ca/smallbusiness/corporatetax/corporate-... The US was 35% for years and is now 21% (+ 30% in California and 29% in NY). When combined with state/province rates (11-15% in Canada) making it more competitive with Canada: https://files.taxfoundation.org/20210504142352/25-Percent-Corporate-Income-Tax-Rate-under-Biden-Tax-Plan-25-Percent-Corporate-Tax-Rate-2021-US-Competitiveness.png https://files.taxfoundation.org/20210504142352/25-Percent-Co... And in the future: > a 25 percent federal corporate income tax rate would result in a combined average top corporate tax rate of 29.53 percent—higher than the 23.51 average among industrialized countries in the OECD. https://taxfoundation.org/25-percent-corporate-income-tax-rate/ https://taxfoundation.org/25-percent-corporate-income-tax-ra... The US should probably focus more on the endless loopholes, tax reductions, and corporate welfare.