6 ms·

Raising corporate taxes is generally popular, not "wildly unpopular." For example, in a recent poll 65% of Americans support raising corporate taxes [1]. This n

Raising corporate taxes is generally popular, not "wildly unpopular." For example, in a recent poll 65% of Americans support raising corporate taxes [1]. This number has been fairly steady over time. It's even higher when you ask about closing loopholes that allow international tax havens, as this 15% minimum tax agreement is trying to do--70-85% support [2]. The only terrible shame here is you laundering your opinion on corporate taxes by making false claims about them being wildly unpopular. [1] https://morningconsult.com/2021/04/07/infrastructure-corporate-tax-hikes-polling/ https://morningconsult.com/2021/04/07/infrastructure-corpora... [2] https://americansfortaxfairness.org/files/Polling-Questions-on-Corporate-Tax-Issues-as-of-8-28-14.pdf https://americansfortaxfairness.org/files/Polling-Questions-...

conanbatt 5y ago
65% is not enough to justify a loss of sovereignty. Once many countries agree to a treaty like this one, some country wont and becomes a tax haven and suddenly the target of sanctions and political pressure. This is the case with the OCDE literally calling countries with favorable taxation "tax paradises".
robomartin 5y ago
65% of Americans have no clue what it takes to run a business of any scale. They can barely calculate a tip at the restaurant, yet they think they are qualified to make decisions on taxation. The flavor of democracy we practice has been good. However, we must be honest enough to admit it can degenerate into mob rule, which generally means decisions are made by the most gullible and ignorant among us on any specific topic. Simple example: There is no way my vote on a whole range of medical issues should have the same value as that of a medical professional, such as my wife. While I have a reasonable understanding of biology, the difference in knowledge and understanding in this area of knowledge is massive. In other words, I am as ignorant about medical matters as she is about engineering. It isn’t an insult to classify me as ignorant in this category. It’s the truth. Why do our votes have the same value? So, yes, 65% of Americans want to raise business taxes. They are ignorant fools being led by the nose by politicians using this ignorance to gain votes at their expense. The most important reality to understand us that politicians are never negatively affected by some of the nonsense they push. They don’t lose their jobs, careers or level of pay. On the other hand, the fools who buy their nonsense very often end-up with the short end of the stick. Raise business taxes? No problem. More businesses will go to China if they are able to. If they can’t, they’ll reduce costs through automation. Some will do both. In a globalized economy we need lower taxes. Zero would be an even better number. Anyone who thinks otherwise suffers from a serious deficiency in perspective.
- realityking 5y ago
  > In a globalized economy we need lower taxes. Zero would be an even better number. Isn’t that point precisely addressed by the Biden administrations of setting a global minimum tax rate? If every country, or at least every country without signify the trade barriers (who cares what happens in North Korea) has the same tax rate than there’s no incentive for companies to move their profits - or the entire company - abroad to save on taxes.
  - zapdrive 5y ago
    That's what the OP is saying. If the US had 0 corporate tax, no company would ever have to move out.
  - robomartin 5y ago
    If you think China and others will abide by this nonsense you might need to review how business is supported by government in China. Did you know they can export products at cost and still make up to 15% on their international sales? The world is not a level playing field. Did you know it costs them darn near zero dollars to ship products within the US, while US companies have to pay full fare? The ONLY way the US and Europe could rebuild a solid industrial base lost to China is to be so pro-business it would make most of the uninformed projectile vomit. If we can do that and maintain it for 25 to 50 years we might have a shot at it. Nothing else will work. Either we are a nation of pro-business entrepreneurs to the core or we resign ourselves to living in outsourced utopia. That’s how bad it has gotten. Pick any product and try to source all of its components and manufacturing in the US or Europe. You won’t get far. In most cases it is simply impossible. If we want a solid future we need to stop vilifying business. The 65% who don’t have a clue will learn this only when it is too late to do anything about it. Perspective: We couldn’t make PPE, the materials they require and the machines we would need to make them.
    - Leherenn 5y ago
      It seems to me China would generally be in favour of this. They're a large country with large internal consumption, and they would rather some of this money goes into their coffers than somewhere else. Generally, fiscal paradise are small countries which have little to lose by lowering taxes (to local business), and a lot to gain by attracting revenues from bigger countries. China's corporate taxes are much higher than 15%, so it's not like they would be directly affected by this. They might oppose the plan (I have no idea), but it's unlikely to be on an economical aspect of that's the case.
deleted 5y ago
[deleted]
la6471 5y ago
Ye we support raising taxes on the overlords…. Let’s vote on that.
mbostleman 5y ago
I wonder what percentage of that 65% would claim to be against taxation that is regressive without realizing that corporate tax is exactly that.
boredwithlife 5y ago
Corporate taxes in the US should be 0%. It's all double tax to begin with.
yyyk 5y ago
Raising corporate taxes is popular, but I suspect the end result of this proposal would be to lower corporate taxes. First, countries would reduce their taxes to the minimum 15% based on the same dynamics we had until today (note that US's tax is higher). Later, countries would find ways to return the tax (not difficult when one could simply 'fail' to collect, or give 'investment aid' etc.). IMHO, the importance of the treaty is with regards to establishing common standards. Raising corporate rates would require an additional vehicle.
- CrazyStat 5y ago
  I don't see this resulting in lower taxes. Countries with higher corporate tax rates have their current corporate tax rates for a reason, and this makes them more competitive (by setting a higher floor) which means less incentive to lower the rate.
RhysU 5y ago
If it is so popular in America then the Legislative branch should have no problem bringing it to fruition.

conanbatt 5y ago

65% is not enough to justify a loss of sovereignty. Once many countries agree to a treaty like this one, some country wont and becomes a tax haven and suddenly the target of sanctions and political pressure. This is the case with the OCDE literally calling countries with favorable taxation "tax paradises".

robomartin 5y ago

65% of Americans have no clue what it takes to run a business of any scale. They can barely calculate a tip at the restaurant, yet they think they are qualified to make decisions on taxation. The flavor of democracy we practice has been good. However, we must be honest enough to admit it can degenerate into mob rule, which generally means decisions are made by the most gullible and ignorant among us on any specific topic. Simple example: There is no way my vote on a whole range of medical issues should have the same value as that of a medical professional, such as my wife. While I have a reasonable understanding of biology, the difference in knowledge and understanding in this area of knowledge is massive. In other words, I am as ignorant about medical matters as she is about engineering. It isn’t an insult to classify me as ignorant in this category. It’s the truth. Why do our votes have the same value? So, yes, 65% of Americans want to raise business taxes. They are ignorant fools being led by the nose by politicians using this ignorance to gain votes at their expense. The most important reality to understand us that politicians are never negatively affected by some of the nonsense they push. They don’t lose their jobs, careers or level of pay. On the other hand, the fools who buy their nonsense very often end-up with the short end of the stick. Raise business taxes? No problem. More businesses will go to China if they are able to. If they can’t, they’ll reduce costs through automation. Some will do both. In a globalized economy we need lower taxes. Zero would be an even better number. Anyone who thinks otherwise suffers from a serious deficiency in perspective.

realityking 5y ago
> In a globalized economy we need lower taxes. Zero would be an even better number. Isn’t that point precisely addressed by the Biden administrations of setting a global minimum tax rate? If every country, or at least every country without signify the trade barriers (who cares what happens in North Korea) has the same tax rate than there’s no incentive for companies to move their profits - or the entire company - abroad to save on taxes.
- zapdrive 5y ago
  That's what the OP is saying. If the US had 0 corporate tax, no company would ever have to move out.
- robomartin 5y ago
  If you think China and others will abide by this nonsense you might need to review how business is supported by government in China. Did you know they can export products at cost and still make up to 15% on their international sales? The world is not a level playing field. Did you know it costs them darn near zero dollars to ship products within the US, while US companies have to pay full fare? The ONLY way the US and Europe could rebuild a solid industrial base lost to China is to be so pro-business it would make most of the uninformed projectile vomit. If we can do that and maintain it for 25 to 50 years we might have a shot at it. Nothing else will work. Either we are a nation of pro-business entrepreneurs to the core or we resign ourselves to living in outsourced utopia. That’s how bad it has gotten. Pick any product and try to source all of its components and manufacturing in the US or Europe. You won’t get far. In most cases it is simply impossible. If we want a solid future we need to stop vilifying business. The 65% who don’t have a clue will learn this only when it is too late to do anything about it. Perspective: We couldn’t make PPE, the materials they require and the machines we would need to make them.
  - Leherenn 5y ago
    It seems to me China would generally be in favour of this. They're a large country with large internal consumption, and they would rather some of this money goes into their coffers than somewhere else. Generally, fiscal paradise are small countries which have little to lose by lowering taxes (to local business), and a lot to gain by attracting revenues from bigger countries. China's corporate taxes are much higher than 15%, so it's not like they would be directly affected by this. They might oppose the plan (I have no idea), but it's unlikely to be on an economical aspect of that's the case.

deleted 5y ago

[deleted]

la6471 5y ago

Ye we support raising taxes on the overlords…. Let’s vote on that.

mbostleman 5y ago

I wonder what percentage of that 65% would claim to be against taxation that is regressive without realizing that corporate tax is exactly that.

boredwithlife 5y ago

Corporate taxes in the US should be 0%. It's all double tax to begin with.

yyyk 5y ago

Raising corporate taxes is popular, but I suspect the end result of this proposal would be to lower corporate taxes. First, countries would reduce their taxes to the minimum 15% based on the same dynamics we had until today (note that US's tax is higher). Later, countries would find ways to return the tax (not difficult when one could simply 'fail' to collect, or give 'investment aid' etc.). IMHO, the importance of the treaty is with regards to establishing common standards. Raising corporate rates would require an additional vehicle.

CrazyStat 5y ago
I don't see this resulting in lower taxes. Countries with higher corporate tax rates have their current corporate tax rates for a reason, and this makes them more competitive (by setting a higher floor) which means less incentive to lower the rate.

RhysU 5y ago

If it is so popular in America then the Legislative branch should have no problem bringing it to fruition.